What Motivates You To Be An Active Trader?
Trading is tough. It is one of the most difficult and complex professions on the planet. Only through a lot of hard work, sacrifice and discipline can a new trader rise above the pack and succeed.
So why do it? Why work so hard to become a successful trader?
Every trader has their own reasons for why they are willing to put themselves through such a challenging endeavor, but lets have a look at some of the most common reasons of motivation.
Everyone Wants Financial Freedom
No matter how complex your trading strategy is or what financial instrument you trade, at the end of the day all of your profits are simply cash in your account. And if you are consistently successful it can be a heck of a lot of money.
You can start trading with a small injection of saved capital, and quickly build it into a source of high income and a sizeable nest egg for when you retire. You do not need to invest in advanced degrees or physical property, you can just put your money into an account, start trading your strategy, and then take some or all of it out whenever you need it.
No other profession offers that combination of high monetary reward and total financial freedom while working from the comfort of your own home.
Rewarded For Your Hard Work: A True Meritocracy
No one in the history of active trading ever got rich by being consistently lucky or knowing the right people or going to the right schools. The market doesn’t care who you are, where you come from or what you are wearing. The market only cares about the laws of supply and demand.
Being an active trader is like being a professional athlete. You have to constantly perform and work to be better yourself everyday. The market is dynamic which requires professional traders to constantly review their strategies and issue improvements where needed. If you are right and execute a trading strategy with edge and discipline, then all the riches of the world are at your fingertips. If you are wrong, you will know unequivocally that it was your fault and no one else’s.
No other profession in the world offers the sublime meritocracy that active trading represents. Too many smart, talented and hard-working people waste their time and effort slaving away without adequate compensation or recognition. What you get out of active trading is precisely what you put into it, and your success is wholly your own to enjoy.
Being Your Own Boss
Being a successful trader is not easy. It takes consistent effort, discipline and a significant investment of time and energy to succeed. However, it is totally up to you how you go forward as an active trader because you are your own boss and your success rest solely on your shoulders. This pressure can be hard, maybe too hard for some people and is why the failure rate is so high among new traders.
Becoming a trader means learning a lot about yourself. Most people think trading is just a game of buying and selling stocks but in reality that is just a small part of it. A much larger, and much more important aspect of trading is the psychological aspect. This determines how you approach trading and how you handle your emotions during good and bad times. As the boss, you have to evaluate yourself and your capabilities objectively and honestly.
Being your own boss is something a lot of people strive for because you are in control. Your time is yours to spend how you like, and you can progress according to a pace and trading style that suits you and complements your personal strengths.
Very few people in this world answer to no one but themselves, and it is truly one of the greatest feelings of accomplishment when achieved.
Freedom To Work From Anywhere
Some of the greatest traders make millions working from the comfort of their own home or in a cool personal office or even out on the road. All it takes is a decent computer and a stable Internet connection, and you are ready to compete with the best traders in the world.
Successful trading is all about knowledge, experience and discipline, and you can achieve these virtues from anywhere with access to the markets. You can go anywhere and do anything you want, and still bring home money. What’s better than going on vacation AND making money?
This is the type of freedom that most strive for but never attain because they lack the motivation or know-how to succeed.
So whatever your reasons are for wanting to be a successful trader, you have to have the courage to take that first step towards achieving your goals. This can be scary, but with the right tools and mentoring you can establish a strong foundation to work on.
Do you have a different reason why you want to be a trader? Let us know if the comments below!