Staying Motivated as A Trader is, not necessary, it is Mandatory!
Not only do we have have ups and downs in trading, life is actually full of up and downs, and sometimes it can get very difficult to stay focused and actually work hard to achieve your goals, stay happy and do all the important things that make life interesting and keep us motivated, especially in trading we can easily fall into down periods and those periods destroy our emotions which results in losses and even quitting trading. However, no matter how hard it gets, it is possible, very possible, to stay motivated even during the hardest of times.
In this blog post we share a few tips to help you get stay motivated, so you can excel as a trader and human being:
(1) KNOWING AND REMEMBERING YOUR GOALS
Probably the best way to pick yourself up, or set yourself on the right track, is to remind yourself of what it is you are after exactly, what is that one thing, or a few things, that will make your life better, the thing or things that will make you get out of bed with enthusiasm and ready to seize the day.
Those things I talk about are goals and visions, even tough they change over time they are always vital... humans need a destination, and if they don't have one they end up being demotivated because they are lost. - Believe me I've been there and it absolutely sucks!
The only way to get out of a runt is to have goals and literally follow up on those goals with action.
Anyway, like I was saying, the best way to pick yourself up when going through a difficult time is to remind yourself what matters to you the most, for some people it is our family, for others it is a better home or a bigger income or even a specific social status. Whatever it is, make sure that your goals are bigger than you, because you’ll need to draw on them for strength when the odds are against you, which they inevitably will at some point. But that’s just life... it’s how you face your challenges that will define you.
Where dry desert ends, green grass grows. So keep going through your "desert" and you'll eventually get to the green grass, having goals makes this easier.
(2) TAKING CARE OF YOUR MOST IMPORTANT WEALTH, YOUR HEALTH
There is no better way to explain good health that how Dalai Lama put it, when he was asked what surprises him the most about humanity, he responded by saying “People sacrifice health to make money. Then they sacrifice money to recover health.”
How I see this quote is that we need to have a balance in our lives in order to stay motivated so taking care of our health, and devoting small tasks in 3 sectors of our health, seen below, is something that is mandatory especially to day traders!
To stay in tip top form in the health sector all you have to do is practice good lifestyle habits, they are:
1 Diet – Thanks to the internet, it’s really easy for anyone to learn useful information about the essentials of good nutrition and how to eat a balanced diet. All you need is the ambition to get healthy on the inside and that happens with a good diet and a positive mental attitude
2 Exercise – In reality you don't need more than about 30 mins a day, and that is not everyday... you can do it only 3 to 5 days per week, and that is more than enough to keep you fit and energized.
No only will you feel better, you will look better and that alone will keep you motivated!
3 Sleep – Just like the diet section, there are plenty of excellent tips online on how to get in a good nights rest. Poor sleeping habits negatively impact your concentration and energy levels throughout the day. So you need to maintain a solid routine of when you go to bed each night, as your body will naturally adjust to this schedule and adjust itself accordingly for a more efficient sleep.
We went over the two crucial tips, goals and good health, but there are many more which I will cover in bullet points. Now believe me, as a trader you defiantly need motivation, but not only in trading is motivation necessary to have a good life motivation is essential, I can't put it any better than how Zig Ziglar put it:
Motivation is like bathing, even tough it is not mandatory it comes highly recommended daily.
Here are some excellent ways on keeping motivated:
Regularly review your goals and progress. Seeing progress is a great motivator in itself, and also improves your self-esteem.
Continue to set new goals. Think about what you want to achieve next week, next month and next year. Tackle one goal at a time so you don’t feel overwhelmed.
Keep the momentum up. It takes up to 3 months to develop a new habit, so keeping the momentum and routine helps it feel more automatic over time.
Find mentors – a mentor is someone who is experienced in the habit you want to change. Finding social or support groups with the same interest can help you find a mentor.
Surround yourself with positive people. Positive friends and family enhance your positive self-talk, which also helps to manage the symptoms of depression and anxiety.
Use exercise as one of your daily goals to improve your mental health.
That is it for this one! see you in the next post!