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Home Binary options Trading psychology The motivation of a trader

The motivation of a trader

The motivation for a successful trading

When a beginning trader gets to any financial market, he watches successful traders and often thinks that he will become the same and may be even better, but having spent less time and effort. A freshman doesn’t understand how long and difficult is the way of any successful trader.

Of course, our life can’t be easy. To get something you should make efforts and work hard. Binary options market is not exception, and you will meet some obstacles on your way to success. Not to throw up your hands and keep on moving you need the correct motivation and we are going to speak about it.

The motivation of a trader

Money, money, money…

As many working traders say, the main motivation for them is to earn money. But not just money, but much money to me steady on the legs and be sure in tomorrow. And there is nothing reprehensible or wrong. When there was patriarchy, every man had to prevent his competence. For the first time a man’s competence was in his strength, smartness, the ability to hunt and only such kind of man could provide his family with food and protection.

Later many things changed and money started ruling the world. Claims to men also changed. Men now must be clever, strong-willed, responsible and…rich. Man’s competence is measured now by the possibility to earn money and that’s why men are searching for all possible ways to do it. No doubt a great source to earn money is binary options market, and, frankly speaking, such kind of source is really good. But you should remember, not everyone can earn here. On the one hand it isn’t possible to be successful and be one of the best traders without motivation to earn big money. It means that if you don’t need money, the question arises, what are you doing here? When you are going towards your aim, you must understand how to achieve it. If this aim for you is money you must know how much money you want to be satisfied. When you’ve decided how much money you need, you must think how much time it will take to get it. It’s clear, that a couple of days or a month is not enough, your aim must be real. Now you should count what income you must have a week to achieve your aim in a certain period of time. Is this sum real? So, we can congratulate, the first step is done. You should keep your trader’s diary and compare profit that you’ve got to one you would like to have. It will help you not just to analyze conducted transactions, but it will help you also to keep high motivation level, because thoughts about money you’ve already made are always pleasant. If it’s necessary, you should correct your aims. It is very difficult to plan your life for many years, because sometimes there can be unforeseeable situations, but you must have a trading plan. Only in this case you can have great, planned results.

The motivation of a trader

Self-realization

Do you have successful people among your friends? Those people, who have achieved success, and have made themselves without any help. Would you like to be like them? If your answer is yes, we can congratulate you! Successful trading in the market of binary options can make you a successful and self-realized person. The matter is that trading develops in person self-discipline.

A person very often doesn’t have success just because of his own laziness. A person, who has achieved success, differs from all the others by the ability not to be lazy. Of course laziness is not a vice, and all people, even successful ones are exposed to it. But more often laziness is the main obstacle in achieving necessary results. Having realized it, you can learn to control your laziness in your life.

However, self-discipline, is not just the absence of laziness, self-discipline is also the ability to follow certain rules. May the rules have been laid down by you, but the importance to follow is necessary for you in any case. If these rules were laid down by you, it is more difficult to keep them, because the only judge is you yourself. You know that temptation to make an excuse to yourself is great. But if you have the aim, compromises with yourself are not possible. Work only according to the rules of trading system and don’t let yourself become weak. Passion is good to the certain extent, but when it prevents you from thinking clearly, you must learn not to come under its influence. The same we can say about failures and losses. Of course you will face failures on your way, and you should accept it in the beginning. Have you caught “a moose”? It’s OK – it’s just a part of your work. Draw a conclusion, analyze everything in your free time, may be you could avoid this red ink operation. To turn your face to the wall is the quality you must kill inside yourself, if you want to have success.

Self-development

Constantly working trader is never at a stop. He is always searching, he keeps on self-education and always learns trading strategies, he is trying to adopt the experience of other traders, who are more successful than he is. May be he doesn’t pay attention to the fact that he is transforming in another person, because his intellect in such kind of work is improving. Working on himself getting new knowledge, a person is developing. He needs to move ahead to be successful. In another case, if he doesn’t do it, his dreams about rich and independent life will never come true. But those traders, who are not afraid and who are thirsty for their development will be able to realize all their wishes.

Trading in financial markets, including markets of binary options, let you develop the strength of your mind. The market is like an independent judge. It encourages you with profits for the correct decisions, but punishes you with losses for mistakes. If everything is good, trading plans for the week, month, year are fulfilled, it means that you are on the right track. But if there are more losses, it means, that there is a real necessity to continue your self-development. If you do everything right, in some years you will be the example of a successful person, and many people will desire to be like you.

The motivation of a trader

Summary

No doubt, financial markets give you a great opportunity not just to earn money but to change yourself dramatically. Of course it’s not easy and your way to success won’t be embraved with roses. You will have to face financial losses and misunderstanding with your friends, you will probably have to refuse from some of your habits, if you realize that they impede your success. Don’t worry, the prize is great. Don’t be afraid of failures, they train you and make you stronger. Those people, who could pick themselves up are stronger than those, who couldn’t do it.

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