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Passion for Trading

I believe that to be a truly successful trader you have to have a true passion for trading. This is probably true for any field of endeavor. I believe that the people who do best are not primarily motivated by fame, glory, respect, or status. They are driven by the pure love of the what they do. Winning traders, similarly, have strong interests in the markets, and this passion is the driving force that puts them at the top, year after year.

However, many wannabe traders come to the markets having deep-seated psychological problems and needs. For example: Needing money is not a good reason to take up trading. All too many novice traders show up at our doorstep having lost a job and wondering how they will be able to make a living. Many traders show up here with major ego problems making them overconfident, or just the opposite, with very little self-confidence, which causes them to fail.

Trading from a motive of "I have to make it as a trader" often leads to disastrous consequences.

It's critical that you take a hard look at the true motives that are behind your trading, and ensure you are doing it because you really love it, and not for some psychological deficit that you've been carrying around with you for a good part of your life.

When you have a true passion for trading, you will not stop trying until you finally succeed. You have to really love it. If you do, you will find ways to persist until you are on top. 

 

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Monday, 26 October 2020

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