Why Do You Want To Trade?

You’ve decided that you want to trade Forex.

Why?

This may sound like a weird question, but the answer to this can literally make or break you. It’s the “why” that can make you successful.

Of course you are trading to make money, but depending on what that money is for can make all the difference. If you want to become a successful, superstar trader, it’s time to decide what the final goal of your trading is.

Here are some examples of why other successful traders are trading.

1. To fund a retirement account
2. To earn enough to go on a vacation of a lifetime
3. To make enough to send their kids to college
4. To pay off the house
5. To pay off the credit cards and get out of debt
6. To pay the mortgage month after month
7. To make “mad money”. Extra cash to spend on niceties or trinkets
8. To pay for Mom and Dad’s retirement home costs
9. To quit the 9 to 5 job and live without the rat race
10. To elevate their quality of life
11. To provide better quality things for their kids
12. To move to a safer neighborhood

Having this kind of goal in mind every time you trade will help you in all kinds of ways. The mistakes you are making today will go away tomorrow once you have a strong defined reason to trade successfully. You will no longer be willing to take trades that are not in line with your system, your risk will be limited and you won’t be reckless.

No longer will you want to trade every mediocre signal, you will wait to take the highest probability trades and you will profit greatly from it.

Having a strong “why” can and will improve your trading 100% instantly. Once you find that reason that drives you to trade well, you will be unstoppable! Every hugely successful trader has this reason, and that reason varies from trader to trader. It can be something as simple as making money for your retirement, or it can be something more obscure that only you can fathom.

You might need a day or more to come up with a suitable “why” that will drive you forward. Once you have discovered it, post a reminder of it near your trading terminal. Make sure it’s something you can see when you go to place a trade. It has to strike a chord with you every time you see it.

This reminder can be an image you found on the internet or something as simple as a sticky note with bold letters on it.

Trading just for money works for a few people but not for most, emotions get in the way every time and the end result is less than desirable. Collecting a large account is too generic of a reason. There is no driving factor and no good reason that your mind can latch onto to make it work. If your mind is not in the game, neither is your brain. If your mind, your brain, your ego and your beliefs are all in agreement, you can accomplish truly amazing things!

Best regards
Russ