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Forex motivation – Motivation for forex traders

The game is hard. Forex trading is hard. We all know that. Sometimes, it can even seem so hard that you want to quit. Everyone has been there before. In this article you are going to read more about my forex journey. The purpose of this article is to motivate you to keep working hard. This article is filled with forex motivation. Even if you are a forex noob, this will help you, I guarantee that.

Most people quit before they make it, which is such a shame. Don’t give up. Learn the right things, ask questions, become better and stay motivated, that’s how you get there. It’s worth it. Read on for the best motivation for forex traders.

My forex journey

My forex journey began well over five years ago (at the time of writing this article). I was studying something I did not like, which was mechanical engineering. I just went here because some of my friends went there and because I was good with numbers. After some time, I realized I was just wasting my time. I started to feel bored and bad about myself. Then, someone showed me a brokerage platform. That’s when everything changed.

I started to study trading next to the study I was following. After a few months I realized this is what I wanted to do, so I dropped out. I don’t recommend dropping out. I dropped out because I never wanted to do anything with that degree anyways. Also, I know myself. I know that if I want something, I will get it, no matter how hard I have to work for it.

My parents agreed with me, which I really am grateful for. They know me as well. They know if I want something, I get it.

The next step in my forex journey was filled with hours and hours of studying the markets and reading books. I watched countless of videos and read a lot of books. I also asked a lot of questions and kept notes on everything.

Next to learning how to trade, I had different part time jobs to make sure I had an income source, because I knew I wasn’t going to make anything in trading for the coming years.

Keep grinding

During the years I kept on griding. I built a lot of discipline during those years. You have to remember: I was alone. No one was checking me. I might as well have played video games all day and watched porn. It was all on me. So, I made sure I stayed disciplined. During those years I went to the gym a lot and I had a nice morning routine. By following that over and over again, I built a lot of discipline. To this day, this still helps me in my trading.

Most people lack discipline in trading because they are not disciplined in their life. Are you like that? Start by building discipline in your regular life and your trading will improve.

During the grind I sometimes lost myself. Eventually, I burned out. I learned a lot from that period. Afterwards, I started listening more to myself. I found another part time job that I enjoyed better and kept on grinding. Listen to yourself and try to enjoy the journey. No need to rush it, no need to lose your health because of trading.

A trading mentor

The biggest change in my forex journey happened when I found a forex mentor. Forex mentoring has become quite popular recently. Most forex trading mentors are fake mentors, but I found a real one. That’s when everything changed. I learned how the game really works and started building my edge. Eventually, I became profitable. It took me around three and a half years to become profitable. Then, I still was trading part time. Around a year later, that’s when I was able to trade fulltime.

Now, I trade professionally, I mentor traders and manage funds.

It was all worth it in the end, but it was a hard journey.

I lost my health at certain times. I lost time with friends and I have backpains at twenty-five years old. This is the side no one tells you about, but it’s real. You can make it, but it requires sacrifices.

Forex mistakes

Forex is impossible? No, it’s not. Forex is possible, but it’s very hard. During my forex journey I made a lot of mistakes. Here are some of the most important mistakes I made. Read them and take notes, because this way you can learn from my mistakes.

Mistake #1: No trading plan

In the beginning, I was all over the place. I had no plan and I was just looking at the chart and painting boxes that looked good. I felt it would work because it looked nice. But it didn’t work. It never does. You need a proven trading plan that covers everything, such as:

  • Entry

  • Exit

  • Risk management

  • Trade management

  • Correlation

  • Target

  • Stoploss

  • And more

A plan should be complete and should cover everything. Without it, you fail. So, if you don’t have a plan right now, don’t make this forex mistake and build your plan.

Mistake #2: No trading journal

To become profitable, you need to learn from your mistakes. But, if you are not 100% sure what mistakes you make and why you make them, you can never learn. The sooner you learn from your mistakes, the earlier you become a profitable trader. A trading journal helps you with this. This is one of the biggest forex mistakes people make: not journaling.

I journal everything. Every trade I take goes in my journal with lots of data next to it, such as:

  • Day

  • Setup

  • Risk

  • Entry

  • Stop

  • Target

  • Management

  • Print screens

  • Custom statistics

  • And more

You need to learn as much from a trade you take as possible. So, get a journal and don’t be lazy.

Mistake #3: No edge