What is your motivation to be a trader?

There are different trading styles for different people. One of the keys to success in trading is figuring out what this means for you on a personal level and what you envision economically in the future.

There is something in the market for all traders that attracts them

  • It is not something directly on the market. The characteristics of the markets are, they are fast and pulsating, but that doesn't appeal to a trader. Rather, it is the general feeling of negotiation that keeps them busy. In other words, an emotional experience of participating in the market. For example, trading for someone who is very academic can be a fun and very stimulating intellectual challenge. A poker player can view trading as another form of playing probabilities and chances of winning. For every trader there should be something that captivates them in this trading activity.
You have to get to know yourself to be successful in trading
 
  •  An aspiring trader must understand what his hook is and must build his trading style around that hook
  • Do you like the adrenaline and emotions of competition? Or do you prefer a controlled form of decision making
  • Are you more academic and more inclined to do market research? Or do you feel more comfortable when you trust your instincts and intuition?
  • Do you like more defined rules and prefer to use a calculator? Or are you more qualitative in your decisions?
  • Are you interested in international affairs?
  • Are you interested in the special features of individual companies? Or are you interested in economic theory?
  • Do you want to act to be the next George Soros? Do you want the freedom to work from home? Do you just want an additional source of income?
  • Answering these questions will help you more easily define what type of dealer you will become.
  • Determining what motivates you in the markets is just the beginning. Once you know what motivates you, you can begin to determine the type of markets you should be operating in. This is the best way to become a successful trader, understanding the market strategy and the profile that best suits you. In this way you maximize your profitability.
Once you've found your motivation
 
  • Can you connect with this approach that maximizes this motivation and the trading style that best adapts to your trading profile.
  • Es gibt einige Merklmale der Persönlichkeit und der Interessen, die offentsichtlich besser zu bestimmten Handelsstilen passen. 
Nils Kreye

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