motivation in forex trading

Ym. And you can provide such a mood with the help of certain factors. Their colloquial name is motiveness. In other words, a person needs to clearly understand why he or she is doing the work and what methods are best used to achieve his or her goal. Forex trading is not an easy way to make money. It takes a long time for the trader. In addition, trade requires knowledge, effort and emotional stability. However, it happens that the trader begins to feel tired and even indifferent to trading. Especially often such conditions can be observed in beginners on the market. This can result in a complete abandonment of trading as a way of making money. In order for this not to happen, motivation is needed.

Literate Of Motivation in Trading

Trader Motivation should gradually change with the accumulation of knowledge and experience. At the same time, I note that an incorrectly formulated motivation not only will not help the trader, but can even cause harm. Unfortunately, at the initial stage, some newcomers to the market are motivated by large incomes in the short term. Such a goal can have only one result – the loss of funds. The initial motivation of the entrepreneur should be to increase his skills. The trader should set himself a goal to learn as much as possible about the forex market and master all the skills necessary to trade. The next stage of the trader’s motivation should be to achieve a level of professionalism in which the probability of complete loss of the deposit is very small or does not exist. In other words, the trader must learn not to waste money. I remember a period like this in my own trading history. The correct application of risk mitigation methods allowed me to reach a level where losses were small and I quickly recovered lost funds. After that you can move on to the next goal – small, but relatively stable earnings. The entrepreneur should motivate himself by reaching a certain amount of income per month. It can be expressed as a percentage of the deposit amount or in dollars. But that does not mean that the trader should continue to do the usual trading activities. To get a stable income, you need to analyze your trade and make corrections to it. Achieving stable earnings allows you to make changes and motivate. Now you can set a bigger goal in terms of earnings. But this intention should not lead to a violation of the rules on risk mitigation. The trader must identify ways to increase income. For example, it can increase lotability if there is still a possibility. Risk reduction rules recommend trading 2-5% of the deposit. So, if previously the volume of trades was limited to 2% of warehouses, you can go to trade 4% or 5%. And you can top up your deposit and trade bigger lots, earn more without increasing your risk. I do not think that motiveness in trading on the market is not particularly important. If we approach this problem with all seriousness, you can minimize losses and gradually achieve the main goal. Inga Fedorova 19.12.2020 Record motivation in forex Trading First appeared magazine for forex Traders forex-for-you.ru.