Staying motivated is very important to maintain diligence in trading, but also a willingness to work on yourself and develop your own trading strategies. We’ll talk about how to stay motivated in this article.
When a person performs any activity for a prolonged period, it creates routines, which are mostly devoid of any emotional response through gradual repetition. This is useful, for example, when getting rid of various fears. However, a decrease in enthusiasm can also lead to unpleasant things, such as a low quality of preparation or management of a trading post. In this article, we will focus on ways in which you can maintain your enthusiasm for trading in the long run and possibly restore your original enthusiasm.
Nowadays, it is no longer a secret that an enthusiastic person performs a lot at work. The issue of employee motivation is one of the main points that a manager has to deal with several times during his career. Maslow’s Hierarchy of Needs or Herzberg’s Hygiene Factors Theory offer specific tools for motivating your team or yourself. Both theories are based on a certain satisfaction of needs that change over time. If at first a person is excited and motivated in a new job and after some time he needs stimulation, then during the elapsed time the so-called motivational factors weaken or disappear. stimuli.
Most of the population needs extrinsic motivation to maintain their motivation for work or any other activity. So they need someone else to meet their needs and only then will they be ready to perform. If a trader feels the need for stimulation from the outside, it may happen that trading is simply not the right path for him, because trading in the financial markets is a purely individual system.
However, a person who can find the motivation to act without the need for external gratification has a high probability of achieving everything he can think of in his life. Most people with extrinsic motivation only dream, while a person with intrinsic motivation finds enough energy to go and work. The motivators in trading are highly individualized. Motivation can stem, for example, only from the idea of a time-saving profession that offers high earnings. Motivation can also come from a pure interest in graphs, mathematics, economics, statistics, probability, psychology, programming, artificial intelligence, etc. The financial markets have the advantage that the trader can find this incentive in them, thanks to which he can maintain his enthusiasm.
Back to motivation
If a trader has lost the desire to work on himself again, to develop new trading methods, or to improve the management of a trading position, or if a decrease in motivation leads to a decrease in diligence in preparing, executing and managing a trade, then the question must be raised as to why the decrease in motivation occurred. Look for changes in your life, even outside of trading, that have dampened the initial enthusiasm for trading somewhat. Loss of motivation can also occur due to the reduced emotional burden of trading itself, which is an essentially welcome change. If a trader has gone through every trade in the past, his lower motivation may be related to the absence of an emotional component in trading.
Reapplying the stimuli in practice helps to return to the state of the motive. It means to remember what was so cool about trading and what idea he started trading with. Re-application of stimuli to practice later will give rise to a new impulse and enthusiasm for the stock trader’s work, which should be partly boring (without a significant emotional component), but at the same time it should provide opportunities for the development of both the trader and his trading methods.
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