One question I like to ask candidates during the interview is, “why do you want to trade?” We understand the primary element for success is the right driving force, which is why this question is crucial because too many people fail in trading forex, futures, and stocks partially because they lack the driving force to push through certain challenging times from trading. We have already established that the apparent reason many people would want to trade is to make money. Our experience with traders that focus all their attention on making money tend to falter on their risk management rules. They think it’s ideal to hold on longer to their losing trades till it works out into a profit. They believe this strategy will help them avoid losing trades. In the end, this mentality will have a terrible effect on their trading account, and most of them will wash out without learning not to focus all their energy on only making money.

Not that making money from trading is a bad thing- it’s not. But we believe that you need to focus on what the reward of making money from successful trading and investing can bring you. It’s not the same for everyone. For some, it may mean not being a financial burden on anyone else and being able to provide for their family’s needs at all times and lead a decent livelihood. They’d also have more time for themselves and their family. For the rest, it may mean touring the world, engaging in philanthropy work, sending their kids to good schools, etc.

Many people have a mistaken belief that you don’t have to answer to anyone in trading and that you are your boss without being responsible for anything. This is false because successful trading can only be achieved through robust efforts, persistently sticking to rules, and coming out of our comfort zones. When traders face this reality, many of them will fall by the wayside because they depend on easy money-making schemes and short-cuts, which won’t get them very far.

Consistently profitable traders are very spirited individuals who delight in being challenged. Being consistently profitable as a trader and investor in the financial market is one of the most demanding responsibilities you will ever experience, and it’s one of the most intriguing things about trading for us. Also, the fact that there aren’t any restrictions in trading in terms of profit gains is immensely appealing. The trading world is void of any restrictions, unlike most jobs. The excitement of speculating the market is another aspect of trading that’s enough to influence anyone looking for that “action” to start trading. The prospect of a “big win” makes these individuals fund their depleted accounts repeatedly till their trading capital is exhausted.

Our motto here at our online trading academy is not to make trading our life but to trade for a better life. The statement is enough to capture the good things trading has to offer and what we can avoid.

Tell us during your interview!

What inspires you to get out of bed every day in the morning?

What excites you?

What kind of activities do you enjoy?

It would be best if you made trading a means to an end, as it should be. It won’t work unless that end has to be specific and must be ingrained in something pleasurable.

The reasons you trade can change if you instead focus on the reward and not the risks involved in trading. Therefore, you should discover motivation for yourself, set goals, assemble a road map to get you to your destination and, chase it.

We hope this blog has ignited that inner level of focus for you and fuelled a cause to consider other reasons to want to trade besides for the sole purpose of making money.