How to Maintain Your Trading Motivation to Be a Forex Trader with Olymp Trade

Set real goals

Many traders, especially beginners, want one thing: to start earning money in financial markets as quickly as possible. They hardly imagine difficulties, but they have heard about the possibilities. They take a trading platform as a way of making money, not work.
 

Do you recognize yourself? Do you understand that you are not a “very motivated trader”? Then go back to the most important point, which is the formation of the goal.

If the issue of making money is more important than other ones, write down this goal in detail, indicating the amount and setting the timing. Make that plan as realizable as possible. Start with the minimum amount.

Even the smallest in terms of earnings goals will perfectly cheer you up and raise the level of motivation. If we draw an analogy, the fulfillment of the tasks is equivalent to praise.

 

“I am tired of losing”

“I learned about trading at work. The colleague boasted how he managed to earn on the growth of shares of American Internet companies. And I wanted to try to do something like that myself.

I do not like to risk in vain, so I decided to study all available literature on trading first. I read one or two books a week. I also liked to study at webinars and watch a mentor trade. In general, a month later I finished trading on a demo account and started practicing real trading.

Everything was great. The work did not prevent me from watching the market, so I always knew the state of my account and my transactions. However, I’ve been losing for the past two weeks.

The losses amounted to almost three-fourths of what I had managed to earn. I’m tired of losing, I can not look at the chart anymore, because I see unsuccessful transactions before my eyes.”
 

Motivation and success

The situation is non-routine, but still typical. A trader had spent a lot of time learning, then he was enjoying the results of his effective strategies and discipline for 3 months. But at the sign of an anomaly, his level of motivation dropped to zero.

Great personal characteristics allowed our trader to make money literally from the first days. However, the bad luck appeared from where he did not expect it, that is, from within.
 

Inability to work with motivation has almost broke him.

Motivation is one of the bases for success. You will agree that one can not succeed without the keen desire to trade. After all, many of you have noticed that a bad mood often leads to a negative result.

A motivated trader is passionate about work. He knows his purpose, he is not afraid to make mistakes and is ready to admit them. However, there is one question: how to keep the level of motivation stable? What are the main reasons for traders’ burnout?

 

Professional burnout

An untrained trader may face emotional burnout. Those who have been working in one place for a long tome should know this situation well.

The burnout most often lies in wait for a trader in the conditions of emotional dispersion. For example, within one hour of the trading session, you can experience the delight of 10 successful scalp trades and the disappointment from the same amount of loss-making trades.

Try to avoid such situations. However, if you are in such a vicious circle, the best treatment will be to take a break in trading, have a good sleep and do something peaceful like reading books or watching TV shows (not on financial topics).

The nature of emotional difficulties is quite diverse. Therefore, we are not always able to cope with them at once. But do not despair, because even the minimal victory makes you stronger and neutralizes the previous negative experiences.

Trading as a job

The next recommendation is to respect what you do. Traders, unlike the vast majority of people, should work with risks. Remember that anytime you need to be ready to give the market $ 10 for a profit of $ 1000.
 

Most people on the planet do not think in such categories. Be proud of what you do.

It may sound trite, but try to communicate with other traders as much as possible. Being part of the community is like having a status of a member of a secret society. To raise motivation you can also watch a lecture of a successful trader or attend a webinar. At the same time try to immerse yourself in new trading styles.

Changing the strategy is like leaving the comfort zone for a trader. It is the kind of professional stress (if it does not lead to financial risks) that can get you back on track.

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And what about the trader whose story we based our article on? He’s fine, he took a week off and returned to trading. And now that he knows that there is no easy way to success, his attitude to losses is much easier.