What is Your Motivation to Be a Forex Trader?

Many a times things don't just happen like that, there most be a reason to cause it's occurrence. Have you ever ask yourself why do you want to become a forex trader？

Did you join Forex trading just to become rich quickly？ Is it for the thrill？ Or Is it because you want to do something challenging and exciting？

Or Is it because the girl you love trades currencies and you want to impress her by doing what she likes.

Really is important to know what actually motivated you to trade forex. For Forex traders who arent serious or committed to the craft will be eliminated by the market quickly.

For instance, looking for thrills and seeking consistent profits are opposite, they don‘t go together. You might enjoy the thrill of putting on a humungous “I’m betting the farm” position, but believe us, you wont be smiling once your trade blows up against you. If it's thrills that you you are looking for, then go to a casino, jump out of a plane or try driving an F1 racing car.

More precisely, if you want a real thrill, drive an F1 racing car out of a plane and land in a casino. Now thats a real thrill! And you might even lose less money than if you were trading.

What have you discovered or figured out to be your goal(s) for trading forex？

This can be expressed financially using a profit goal (either in currency or percent return) per unit of time. For instance, you might choose a goal like making $4,223,834,145.53 per month, or achieving a 529% return every week. This doesnt necessarily have anything to do with money.

Assuming say “ what motivated me or My goal for trading is to make enough money to be able to buy them new Space Jam Jordan 11s so I can impress my lady crush and she can fall in love with me and we can live happily forever.”

Alternatively I can say “My goal is to have enough money to have plastic surgery so that I can look like Halle Berry and have everyone eating out of my hands.”

Alright, but could all these be true？ Possibly Not! We lied.

Because everything has to do with money. And Whatever you decide, just ensure its specific and measurable. Have a Set trading goals and objectives that will help you develop your career as a trader.

It cant be vague like “I want to be rich”. Changing it to “I want to be super rich.” does not work.

You need to Be specific!

“I want to make 1% each week.”

“I want to be winning 50% of the time by the end of this year.”

“I want to double my account within six months.”

“I dont want to make any trading mistakes for the day.”

Setting up your desired goals specific and measurable, will not only let you know what you really want, but youll be able to monitor your progress and see whether you are improving or not.

If they are not specific, youre just wasting your time.