Why do you trade?

RachelFX

Junior member
44 16
Rachel
If there's one thing I have learnt related to trading is to have confidence and unshakeable belief in my convictions. After I used to be swayed away by opinions of 'more experienced' traders, I realized that each one is different and we have to have our own mindset, beliefs, methods, patterns whatever, those that suit our personality. Then stick with it with statistical analysis to see if they are working out or not. Usually like they say the proof is in the pudding and a well kept journal along with statistical log of actual trades versus those that have been back tested will tell us more about us than anyone else on this fourms. Once you have something that works for you then that becomes your goldmine.
I did study a few books on market psychology and self disciplines. AlsoI studied a few books on peak performance and adapted beliefs of successful athletes and traders. AT the end of the day just like sports or success in any other venture, this is a mental game where one valid, back tested pattern is enough to make a living. It's 80% psychological and about 20% mechanical. Let's keep working on our mindsets and we can keep on reaping the reward.
CT
CT
I can certainly relate to being influenced by others views and opinions! Making us second guess ourselves.
A tricky situation to find a balance in, as discussion can also be a positive thing.
Mindset and focus on my trading edge were the keys to unlocking my trading future :)
Rachel
 
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Nuadarne

Junior member
18 1
First I started just because trading was very controversial and I’ve heard different stories, but as I went deeper I saw some tendencies, I started to understand how I can make some money on it, and slowly I started to trade and win, and I like the process. I think this is something that keeps me there so long.
 

Adoralmeena

Newbie
6 0
For me, trading is a test of my strengths and skills. I like to challenge myself and fulfill it. Each time I set a goal - to make fewer mistakes than yesterday. And it works. I like to monitor my progress. I have a diary where I write down my emotions and feelings.
My goal is to get rid of all the mistakes and make a win-win strategy. To do this, you need to study the market and constantly improve.
I like Forex, this is my hobby, my incentive to improve myself and my skills.
However, I began by coming to the market for quick money. I could not get fast money and I had to stay here for several years. Now I have such a trading strategy and I am satisfied.
 

James turtle

Junior member
23 2
Extra Income. I started trading in my spare time as a way to earn extra money on top of my day job. Trading is not the centre of the world for me, it is a part of my life like any other activity.
 

hatemypips

Well-known member
480 35
For me, trading is a test of my strengths and skills. I like to challenge myself and fulfill it. Each time I set a goal - to make fewer mistakes than yesterday. And it works. I like to monitor my progress. I have a diary where I write down my emotions and feelings.
My goal is to get rid of all the mistakes and make a win-win strategy. To do this, you need to study the market and constantly improve.
I like Forex, this is my hobby, my incentive to improve myself and my skills.
However, I began by coming to the market for quick money. I could not get fast money and I had to stay here for several years. Now I have such a trading strategy and I am satisfied.
At least you don't need to go doctor to mend mental impairments, because self-reflection is the thing they sell you.
 

scarlet jones

Junior member
25 4
It supports my primary income. Plus trading is exciting. These days one can’t just depend on one source of income. Hence i trade to make more money through it. Though i always take a moderate risk as more risk could mean losses as well which i can’t afford to make.
 

bullishindia

Newbie
1 0
Hello Caesar
Investing in the stock market is a way to make more than just a little extra cash. In fact, with the right approach and the right skills, investing even a little in the stock market can put you on the road to earning millions. Becoming a stock market millionaire isn’t an easy task and it isn’t a feat that will happen overnight. Do not loose hope and try till you succeed.
Follow some rules and you will definitely making money:
1. Focus on Hot Stocks Hitting New Highs
2. You Can Buy and Short Sell
3. Cut Your Losses Quickly
4. Don’t Be Afraid to Take Partial or All Profits
5. Embrace New Technologies
6. Stick With Liquid Stocks
7. Don’t Believe Anything the Stock Says
8. Don’t Diversify and Don’t Use Leverage
9. You Don’t Need to Buy Bottom, Sell Top
10. Always Make a Plan
 

tomorton

Legendary member
7,317 982
The over-riding reason for trading should be to make money. Other goals don't take you towards that, the routes required to these can set up self-imposed barriers that divert you away from it.

Nobody is forced to aim for millions from trading, not becoming a millionaire is not failure. But I have come round to thinking that just as risk per trade must be matched by reward per trade, so must trading risk be matched by trading reward. Therefore, as there is a very high probability for any new trader of wiping out their account, this suggests they ought to have a strategy which has at least as high a probability of doubling it in the same period. I would suggest a year but this is demanding for new traders and may to be fair be insufficient for experiential learning. So I would suggest if your new strategy does not make +6% per month most months, stop trading, it just isn't worth it.
 

coughs

Junior member
18 0
Freedom of working whenever I want. I don't want to be stuck in an office
 

Vellfx

Junior member
15 2
i initially started because i was forced to by one of my friends. just after 1 week into it, i realized this is where i want to be. so i trade because of passion and ofcourse money now.
 

fibo_trader

Senior member
2,455 45
From a non emotional view, I dont see any value investing any more time or money into myself.

Your internal demon circuit has just about got you. For him to live, you must die.

Looks to me your statement above is him talking. Put the prick in a choke-hold and whack his ass!

Continue trading!
 

Smith2525

Newbie
8 2
I trade because I love to learn new skills and find trading gives me a good incentive to keep up with what is going on in the world for the fundamentals. That and of course the potential to create additional income stream in a fun way.
 

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