Tuesday, September 27, 2011

Why do you trade?

Simple question, why do you trade or want to become a trader? What's your motivation? It's fun, interesting or you think it's easy money? Please leave some coments, it's interesting to see them.

Trading for me is:
  • The way to earn money, most important factor. In my country average salary is about 450eu monthly, I think I can beat that :) And most importantly the perspective that I can earn a lot more, I just need to get better. Maybe one day I am gonna be rich? (probably not from bf trading)
  • Being my own boss, taking holidays when I want, working as much as I want. Remember when you are your own boss it does not mean that you are good one :) So I always try to be hard on my self, working at least >20 days per month. I try to analyze my best trading and worst problems. And I force myself always to improve, reading books, making research, trying to see what I am not seeing at the time in the markets.
  • Learn one of the hardest profession in the world. Yes, trading is like that, we must learn to think in a different way, what comes unnaturally for humans. For example: people always put more risk then faced with a loss, and act very conservative when need to take profits, so we cut the winners and we are adding more to loosers. It must be vice versa to become a winner! So exactly from this psychology successful traders says: "cut your losses short, and let your profits run". Do not forget that almost all beginners traders fail and quit trading. Probably only one from ten or even more becomes consistent long term winner. So it's kinda a challenge, I can make it!

2 comments:

  1. Well, good enough as current motivation but what are your targets? Don't you want to become %100 professional and build up a future over your trading skills?

    GL

    Alptekin

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  2. Hi Lucky,
    Well I am on this way, I am trading full time, and I am getting better and better. To become professional(=big consistent winner) I need time, maybe few more years. It's not enough just to put target, actually targets can be very dangerous for the right traders mindset, what will happen if you fail your target? It happened for me few times at least, and I can tell you that this feeling of failure is not helping at all in my trading ...
    I think the best thing what I can do is to try hard as much as I can to remain disciplined consistent winner, with growing confidence and profits, professionalism will come by itself with a time.
    Thanks for comment, good luck.

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