I have a fulltime job and I’ve been trading for some time. I try to stay consistent by looking for good trades that I can enter. But I’ve reached a point where I’m starting to lose interest.
Why did you get into trading in the first place? Something motivated you. For me, I want to get good at something else, and I want to actually make some extra money. Not quit my job money, because I know that doesn’t happen for most people.
What got you started? Think about that maybe?
Take a break. The main reasons traders shut up shop is that they’re not making the money that social media hype said was easy. Which it’s not. No short cut to experience.
Here’s a link to a top pro trader who will light your fire again: tradertom.com
I think he’s taking that break. Come back when you’re ready.
We have to move forward with the goal. And we have to try our best to fulfill that goal. Never get frustrated. Remember that failure is the success of the pillar. If the goal is met, I have to focus on what my lifestyle will be like. And you have to think positively.
Experiencing a loss can no doubt discourage traders and make them feel like they’re not good enough to trade successfully.Thinking that all their efforts are in vain can be the greatest enemy to a person’s motivation.
If you realise that you can’t go on - pause or drive a long-term position so you don’t have to worry about it.
Everything will be fine.
It’s probably just temporary difficulties.
Lost a lot of money. I’m going to get it back.
I’ve been reading the TA course material. So far so good. Thanks for sharing that!
Hi tommor! It really takes courage to say this and then do it too. Appreciate it. Wishing you the best!
There are always such moments when the temptation to give it up is so strong and sometimes irresistable.
It is not only about trading but I have experienced the same in every kind of activity I was interested in. I have learnt a lesson out of here is that you need to keep on learning and doing what you have to do. There will be a moment when you will get used to this feeling or get some inspiration from something or someone. This always happens, believe me.
I am a new trader also, going back and forth with this trading career. Here are some points I made for myself hope it help you:
I spend few month pick out new career & skill for my life, and end up going back to this skills
Why I pick this trading career:
1/ I can work anywhere, while I am ice fishing or on vacation, don’t have to rely on company
2/ Don’t have to worry about company laid me off when I am old or can’t make to work
3/ The more time I spent learning on this, the more experience I have
4/ Flexible hours
Down side for this career:
1/ No 401k, no PTO, vacation paid, no health insurance, tax bracket for single in my state is 35%
What are my motivation: Have a good picture of your goal for the next few years on your desktop ( Ex: house on the lake with a nice boat, something like that so when you wake up ready to trade, those picture will give you motivation lol)
1/ Trade while I am on vacation
2/ Trade while I am ice fishing when fish are in hibernation mode lol
3/ 95% trader loss, 5% success > if you want to be the 5%, you have to be in the 95% first, that is normal lol
4/ It good to have a unique skill and place to learn that you can carry when you get older lol.
5/ Trading make me wake up early as a routine and have good habit I consider
What I told myself when I have a trade loss
1/ It ok you are in 90% now, you are still in learning mode
2/ Be patience next time
3/ Bring positive attitude before the trade
4/ Make fear your friend
5/ You don’t fail, you just learn another way that doesn’t work lol
6/ Don’t compare yourself with another trader
Hope those info give you some motivation again, I am still trying to stick to it to make myself motivate, and so far it work
What could be more motivating than profit. We all come here for the money and we want to have as much of it as possible. That is the biggest motivation.
I always have the fear of losses. Can anyone suggest me what should I do?
If you have lost interest in trading, you may take a break from trading. I personally find it is an interesting business. It sounds to me that you wait long to take your entry. This is what you need to do to be a consistent trader. I think you are on the right track to be an excellent trader. Do come back after having a break and see how it goes with you.
There are many ways to preserve interest in trading and they are a kind of individual for everyone.
As for me, I m in constant search of the stories which are all about success in trading. Such stories keep me motivated and provide me with a sort of inpirations to keep on learning the markets and believing in myself. That is why I come to trading forums from time to time just to find the story which will motivate me. I know the traders who derive pleasure from learning on its own. They tend to think that the more they know the matter, the more interesting it becomes to them. That is why, all the time they have a bad day, they try to find out the reasons for their losses right away and I think that it is the most appropriate way to deal with trading failures. I do aspire to become more sensible to my failures but it is still hard for me to start analysing my recent mistakes immediately.
- Normal time management - if you are tired, you definitely need to rest.
- testing new assets and strategies.
- Increasing capital for the sake of increasing profits.
The fact of becoming financially indeoendent and to excel in trading keeps me motivated all the time.