Motivation, what keeps you motivated?

Trading Discussion
1

I’ve been interested in trading for 2 years now, but only recently I’ve genuinely dedicated my time and effort into it.

What I want to know is what steps do other people take to keep themselves motivated, e.g a book they’re reading, a series of podcasts from motivational speakers, money, control, respect… Anything.

I tend to wake up at 7.30am, shower, have a coffee, write down my daily targets in a journal and try to fulfil them by the time I go to sleep in the evening. I find writing them down by hand and ticking them off as I go reallyyyyyy helps with getting sh*t done in the day.

It would also be really interesting to hear what other people do from different countries and cultures around the world, any tips you may have.

I’m from the UK, thanks guys.

2 Likes
2

that’s actually a great thing you’re doing, like making a daily checklist, setting goals, and just having a morning routine as a trader is important. I meditate every morning before work which helps keep me in a good mood throughout the day and keeps me calm.

3

Hi Alex,

Congratulations on making your mind up to now focus on learning forex trading. Taking the first step is always the most important. :+1:

In terms of motivations, when I started learning to trade forex 6 years ago I didn’t even know about online forums like babypips. So I found my inspiration from books like millionaire traders and market wizards. Knowing that there were people who were successful from trading really pushed me and made me think ‘why not me’ Lol. I read them again and again. Now my motivation is to pay my expenses every month! To make a consistent return so I can remain trading full time from home. Money is a very strong motivator if you have plans for it.

I’m glad you have a morning routine. I do however have two recommendations. First is you should be writing your daily goals the night before. I read somewhere you can only efficiently make a certain number of decisions in a day so to save them you should make most the day before eg daily goals, what you’ll wear. Second, is the coffee. It wakes you up but when it wears off it can leave you feeling less than 100%, also known as ‘coffee crash’. This would be less than ideal if you are trading through the day and may result in mistakes due to lack of concentration or complacency. Little mistakes in trading can affect you more than you think. I’m talking from experience. The more mistakes you can skip the faster your progress to becoming profitable.

Wish you the best of luck.

2 Likes
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I’m interested in doing this. How did you get started and are you using any tools/app to get this done? How long have you been doing it and how much has it changed your day to day life?

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I have had series of bad experience in the trading world its so obvious that I don’t even have a means generating capital to refund my account most of the time .
But I learn something very important that I want make known to us: never try to regain all your former lost at once, never increase your lot size for any reason except you have sighted any AB BC CD that have rest assure of that its exactly what is coming up and also stop trading any affected news pair two hours before news but search for trade in five minutes after the news and you will never blow your account again and not only but you will grow it faster

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I agree! :smiley: I also like writing my goals down for the day and shading the boxes as I accomplish them. :slight_smile: It feels motivating and somehow gives me the impression that there’s progress in my trading! HAHA. :smiley: What do you usually put in yours? Like, the number of pips you need to win or just as long as you get to open a trade? :smiley:

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Hi, I’m from Malaysia.

There is too much for me to list down here regarding on your very subjective matter.

But I will try my best to compress it and list down the most general yet significant ones for me:

1)Embrace www.babypips.com (this is the most obvious)

2)Practice and REVISE your religion. (God must have hidden that ‘holy grail’ somewhere)

3)Keep your health and lifestyle in check. (what you eat is what you are and workout as if you are going to die tomorrow)

4)Keep your mind and mental health in check. (Pain is inevitable, suffering is optional. emotions actually does not exist, we create them intentionally for no purpose.)

5)If you are still not succesfull for sometime, do a research about the “Dunning Krueger affect” and make sure you are not affected by it. Then, repeat all the way from step 1.

6)Family is always first. (You can lose all the fame and money in the world, but without your family you are nothing. Everytime I take a significant loss, I will turn to my son and explain to him with a smile that I had lose his toy budget. I then made sure I spend more time with him afterwards in return. I will also remind myself everytime, that however big my loss are actually is nothing because I still have my son. My son is all that I care in this world. )

7)Forking enjoy LIFE! (Since I became serious in the game, everything I do or think literally like every second was about trading and the market. Nothing was not related. I took it very serious that sometimes I was caught reading babypips school of pipsology crying and in tears. But the fact is, the more time you spend analyzing and learning the market is the more bad a trader you would become. STOP WASTING YOUR TIME. Just enjoy your life and be the same person you are before trading, only THE BETTER VERSION. When you have enough knowledge, trading is actually just a few minutes per day. Other than that, are just overthinking and indecisiveness. You can always revise what you have learnt and maybe learn new things everyday, but just dont over do it. Do not stress! Go out, hang out with friends, go to the bar, binge movies, go swimming, bunge jumping, even go punch a kangaroo in the face, waste your time, but in the end just be yourself. If you cannot trade while not changing to be the person you always are then maybe you are doing it wrong. Trading changes a persons way of thinking and attitude but NOT the personality of someone. A person may trade and be succesful in life but that does not mean he is litteraly a different person.)

That was my 2 cent, sorry if it is too long. I tried my best.

And since you quoted book and podcasts, just for your acknowlegdement, from a ton that I have read, one of the early ones was ‘trading for a living’ by Dr. Alexander Elder and I am now still listening to Akil Stokes podcasts.

Welcome to the club brother, with lots of love,

Cheers!

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my current activities always keep me motivated , and i always compare todays performance with last day. it supports me to develop step by step.

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I would just like to say thanks to everyone that got back, I really wasn’t expecting a single reply… Wow.

10

I will bare that in mind!

I can definitely relate to the coffee crash - within a few hours I find myself getting distracted and my mind drifting onto different thoughts… I’ll have to find an alternative as its what puts me in ‘work mode’ first thing in the morning.

Thank you.

11

@ria_rose Hey! At the minute I’m still building up to making trades. I haven’t finished the course yet so my time is still to come!

I think its really the best thing I’ve implemented to my daily routine. I will put absolutely anything on my goals for the day - from doing a set amount of lessons - to drinking 3 litres of water - working out - not eating certain foods… Anything!!! It may sound weird but the difference its made to me as a person and being efficient with my time is amazing, who would’ve thought, huh? :joy:

1 Like
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Its not weird actually, its the secret to the rich and famous deceived by most people .

And you are reaching your goal by the minute.

Slowly, but surely…

13

For me, it is keeping a track of all your transactions and regularly taking a feedback from your mistakes. If one is thorough of what one’s doing, then he/she will surely be motivated and try not to commit the same mistakes again.