I think, that you have got to treat this like any other hobby or business. I remember watching a motivational youtube video about increasing your physical strength, choosing a healthy life style and going to the gym. The guest speaker said something like, if you go to the gym one day and you work out, once you come back home and you look yourself in the mirror, you will see nothing, the next day you do the same and you see nothing, but I guarantee you, if you just keep going with consistency, believe in the system, do not skip gym days and eat right, you will start seeing yourself grow, you will start making gains.
This is absolutely no different than that. This is where you've got to find your motivation. You have to understand that you don't get results from anything in a single day, you must definitely put in the hours, the work and the effort, then finally you will be eligible to expect some results satisfying or not.
{quote} Hi forex SF, I found the following useful for making the transition from demo to live. But I only recommend doing it if you meet the following two conditions: (1) You have consistent equity growth in your demo account from month to month (an occasional losing month is to be expected). (2) You have been following your system and money mangement rules exactly the same way you would if the account were live. The habits you establish in your demo account carry over into your live account If you meet those two conditions then open and fund a...
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The Most accurate and the best advice that one can get.
As a newbie in trading, it's important to start small and set realistic expectations. Learn from experienced traders, have a solid strategy and stick to it. Avoid emotional decision-making and accept that losses are part of the process. Keeping a positive attitude, celebrating small wins and staying focused on your goals will help maintain motivation.
There are other factors besides making money which motivate me which includes having a drive to help contribute to people and the world. Sounds corny but it's the truth. Also I actually quiet like trading. It's fun to make trading calculations and see how it plays out. Never thought I'd get into this or like it but it turns out, it's not too bad.
You don't need drugs to take trips around your world.
For me the case is that i used youtube to learn technical analisis,when the guy explain he already know the full chart wich he is going to explain and "predict "
All this perception changed when i discover this forum and saw few charts posted by random people,i realise the real scenario is much differit,and i could barely identify trends...
Right now i learn by fiinding random charts posted here and try to read them myself,as i cant afford a laptop...i use just my phone,untill i pay off my debt 😁
You are way ahead of me learning...you will quit because of a bad grade after all the hard work you did?cmon...
Setting specific and achievable goals helps keep you focused and motivated. Break down your larger goals into smaller ones that are easier to achieve and track progress towards.
I am currently in the evaluation phase of a prop firm. This is month #2 for me. I thought I could trade both my personal account and the prop firm evaluation at the same time. Because of the trading rules I could not trade like I traded in my personal account and in the prop firm for two months it has literally been 2 steps back 2 steps forward. I so far have always been able to get back to even or just a hair in profit but it’s been stressful because I also have a business I run and work in. I have to trade the D. So I stopped trading my personal fx account altogether about two weeks ago. I opened a new demo with my broker. This motivates me. I’m trading an entirely different timeframe risk level really everything and am up on my demo. But the prop firm I am in evaluation and I really like a lot about them (or any prop firm I know of) would let me trade this way. So my demo motivates me to succeed on my prop evaluation if that makes any sense.
To avoid losing motivation as a newbie, it's important to set achievable goals, break them down into smaller tasks, find support, celebrate successes, focus on the process, take breaks, and remember your "why".
Every beginner experiences the stress of losing their money.
I would advise you to mark each of your successful trades and analyze them carefully, you have to understand why one trade brought you a profit and the other a loss.
Concentrate on your wins.
If you are not motivated, it could be that you're trying to force yourself to trade with a strategy that isn't compatible with you. Here are some examples of how some aspects of the strategy might NOT work for you:
You are trying to trade news releases, but you cannot be awake at those times or you have to be at work.
You are trying to trade fundamentals, but you have no interest in economics.
You are trying to trade very short timeframes, and it requires you to sit in front of the screen for hours, and you don't have that much time.
You are trying to trade very long timeframes, but you are not patient enough to wait for the moves to develop.
Your strategy generally produces many small loses and a few big wins, but you cannot cope with all the losses (even though the big gains might make up for all the losses).
Your strategy targets very small profits, but all you can think about are the large profits you could have made if you hadn't taken a small profit.
There are many other ways you could be mismatched with your strategy, and this would make it difficult to be motivated.
i lost my motivation long time ago.
started to treat all forex thing like a boring 5-9 job.
since then developed strategy that works for me and stopped changing anything,stopped adding or testing new indicators and reading anything related to trading.
few months after that motivation came back.
For me is to set realistic goals for yourself. While it's great to dream big, it's equally important to set achievable milestones along the way. But you know what? Taking a break is important too. It's okay to step back and come back fresh.
To not lose motivation simply concentrate on the trading process itself, not money. This will help you to avoid frustration related to losses which is often the key reasons why newbies abandon trading too quickly
Always keep learning from your mistakes, and develop a trading strategy. Without one you're like a sailor navigating on the open sea without a compass.
I think the more important question is "Why are they not losing their motivation"?
Why are you learning how to trade?
Why do you want to improve yourself?
Why are you putting in the work?
Why do you keep going after facing setback after setback?
You have to have your own list of why's. Work on your list of why's.
If the why is powerful, the how is easy. (I credit Jim Rohn fully for these wise words)
Experience W. experience winning a lot. I think it'll help lol. But seriously, I think if you don't have any motivation for forex trading, maybe it is not for you. It needs a lot of effort and put in so much to generate profit. It's kind of like a marathon. You gotta enjoy it and be motivated otherwise it is quite tough to give yourself pet talk especially when you keep losing your money.
How do you newbies not lose your motivation?
