When I started trading, I didn’t have a clear view of what I wanted from trading. I knew I wanted more money, but that wasn’t really a good enough reason to stay focused and disciplined. After trying and failing for several months I finally decided to get clear on what I was doing and the real reason I had decided to put my hard-earned money into the stock market.
To improve your trading results, you need a clear vision of why you are trading in the stock market. It’s impossible to stay disciplined if you are unclear about why this is so important to you.
I have made a short list here, which is nowhere complete, of some of the most common ways to figure out why you are trading the stock market. Now, most people would say: I trade to make money. I trade because I want to become rich. Well, you may THINK that this is the reason, but there is probably another reason, more profound, of why you are trading stocks.
- Is it because you are looking for security? Are you longing for security and stability through wealth and money when you are trading?
- Are you trading because you want to belong or be seen? Perhaps you want the status, the prestige of being successful?
- Is trading a way to get that rush of adrenalin you miss in other areas of your life?
- Or do you trade just because you want to beat the market? Your competitive personality loves a new challenge!
It’s crucial to figure out why you feel drawn to the stock market, because if you are trading for the wrong reasons, trading will be a losing game. Always
That’s the case for most traders. 92% of all traders blow their trading account within the first couple of years. I have created a list of the 51 ways trades blow their account. Click here to read more.
