America’s true past-time, baseball (sorry, not Forex), is in the lime light again in the States with Barry Bonds’s record breaking 714th and 715th home run hits.
Barry surpassed the great Babe Ruth for the number two spot on the all-time career home run list.
What an accomplishment! It’s taken Barry a baseball career of over 20 years to reach such amazing heights, and at his tender young age of 41 dealing with the whirl-wind of skepticism, it’s a wonder how he keeps going.
What do you think has kept Barry and countless others in the game (like in business and other professional level skills) so long after they should have been out because of age, and/or diminishing skill or knowledge?
Let’s get the answer – come with me.
Trading has always been synonymous with risk – exciting (for some anyway)!
Trading has always been synonymous with analysis, charting and studying and…EXCITING (okay, maybe not exciting enough to deserve CAPS)!
So why trade? If trading is so boring, what keeps us in, keeps us up to the wee hours of the night behind our computer screens, and keeps us coming back for more?
For some, it’s the thrill of taking a risk, the thrill of putting your money on the line.
For others, it’s an ego thing – my system is the best system or I know the market like the back of my hand.
And some do it for the lifestyle it provides them and their family.
With all of those examples, it’s easy to see that there are countless reasons for trading, and everyone’s motivation can be different.
In your quest to find a cure for your boredom, you need to ask yourself that very question – Why do I trade?
Is it for the risk, the excitement, the possibilities of wealth and financial freedom, or because it’s my job?
There are other things I can be doing with my time. These are all valid reasons, but should be secondary to your answer.
Your stimulus for trading should come from a passion for the art of trading.
Studying the markets and turning your information into action is a skill that only a few can discover.
Many of the most successful traders say they would continue to trade even if only making an average living wage.
Trading is a challenge to them, and they get pleasure in studying the markets every day to find a new opportunity or that winning edge.
Trading becomes their mission in live. These folks aren’t looking for the money or fame or glory – they have a true love for the game.
They build their skills to such a high level that they end up with it in the end anyway.
So don’t center on the profits at the start.
To be a winning trader, develop your passion for the game (trading, not baseball!), and watch what it will do for you.
Passion – it’s what turns the ordinary and boring into exciting.