Self-confidence can boost up any person’s performance drastically. Because it automatically motivates our mind. And help us perform better in any profession. On the other side, self-regret is another thing that can cause us a serious damage in our professional career. It alone can ruin our lives and cause us a massive downfall from a pinnacle position. In the case of trading, it is also the same. In fact, traders have to face more problem than in any other professions. Because here, the brain is the most important thing than physical effort. Today, we are going to talk about this. We will try our best to present you with some most common reason for the self-demotivation of traders.
Fearing of losses
Most of us trader probably started this business as a side job. Like doing freelancing on the internet. It could make us some side income. But, when you join this business, you will experience more mental pressure than you have imagined for. Because here, you have to invest in your trading business. Otherwise, there will be no chance for you to trade. And when you put money into something and wait for a return, obviously your tension will be much greater. And, this tension of traders demotivated the traders in the first place. But, for a good trading performance, you have to avoid this kind of mentality. You have to forget about the tension your investment. Instead, you have to focus on efficiency and with the proper effort, it is possible. If you managed to do so, your money won’t get lost, in fact, it will be growing with time.
Lack of education
You might be thinking trading doesn’t require proper training. If this was true, no professional UK traders would have offered spread betting strategies for novice traders. But buying an expensive trading system from the pro-UK traders will not help you. It’s better to take some paid training on spread betting as you will have a detailed plan to execute the trade. Learning the basic things is really easy but when it comes to advanced trading technique, things become a little bit confusing. So learning from the experienced traders will significantly reduce your risk exposure. Never start trading without having a clear idea of how this market works.
Guilt in yourself
Frustration is one of the major problems in our life. It plays with our mind and makes us unproductive. Even when you are not involved in a professional work, it bothers a lot. Maybe, frustration kicks in our head for the first time in life when we are at a graduate school. Anyway, in this business, frustration plays a really dramatic roll just like any other occasion. It decays the confidence in ourselves and makes us demotivated. Some traders even give up this profession because of this frustration thing. When you are in this business and aiming to be in a good position one day, you have to overcome this problem. Or, it will bother you every time you lose a trade. And that’s not good for your future performance at all.
Greed for more and more
Like those other problems we discussed earlier in this article, greed is also a major cause of a trader’s downfall. Most of us learn about this business as a money-making business. If you hear about the amount of transaction happening per day, why wouldn’t you think so? This news makes us think about making more and more from the beginning. But, all the master trader who have experienced almost everything this business has to offer, will disagree with this thought. They will say that focusing on the trading edge (strategy) should be the main goal for any person in this business. Always remember, you here to trade your plan. Never let your emotions or greed to take control of your trading decision. Last but not least, never trade with an amount you can’t afford to lose.