Motivation Zone - Share what/who motivates you

LOL


Looking at the quotes and just glimpsing at the name and jumping to the conclusion.Sorry about that.Glad you pointed it out though.

I have for the first time read Think and Grow Rich this year and it will be read again in the future.


I love how they use "modeling" of the super successful people to build their analysis and theories and truths about how to be successful and become rich.

Here is a great video by Tony Robins about the a similar idea that you might find interesting

Thanks for sharing that great video.

Undoubtedly there are some really exceptional traders here at Forex Factory that shares a lot of theirs stats and so showing what can be done if we stop believing in a ceiling for ourselves and our trading.

I will try and share some of the really inspirational things I have found here thus far.Please do post if you have any other relevant information.

Look at this trader and his trade explorer currently sitting at just over 720% return on a 10K starting capital giving him about 72k in profits in about 2 months
Using 1% risk with a 8pip stop on EU and GU and not sure about the USDHUF trading
http://www.forexfactory.com/loan#53

I am currently working on an article that analyzes if there is a single factor behind success. It is hard work and requires deep research. Path to success has so many turns and requires such a great skills level in resolving wide variety of issues that it is impossible to achieve success without determination. Behind determination is Motivation; behind motivation are the "Right Thoughts"; and thoughts are the result of knowledge/awareness, observation, and thinking process. We all think and therefore have thoughts, but what contributes to developing "Right Thoughts" is the Vision. Many develop vision but either their thought process does not remain on track and hence they lose focus or they do not posses or develop required skills. One key element of remaining motivated is keeping your thoughts clear and focused, especially when things take turns.

Many traders here repeat their past mistakes and knowingly keep on practicing methods that have little or no logic. This experience clutters their thoughts and puts them in a vicious circle, they ultimately lose motivation.

The best way to refine thinking and remain focused is to document whatever project you are working on. If you have a vision that you really want to achieve, can do miracles.

Here is the Mother of Secret, Think and Grow Rich and all other this kind of recent shits, ..............................only more logical

Hi Chicky

I cant agree more.It would be amazing if you would share with us your article once it is written if you want.

Focus is so important.What we focus on determines everything in life.

Here is a great video by Tony Robbins explaining it in his words.He really is able to put hings in a very easy and straight forward way.




Here is another variation of it that I watch every morning before trading

Hi Again

I will have a listen to it today as I do know about him and his work.

A lot of thinkers in the field of motivation,drive,the since of achievement etc.have always incorporated a lot of the work of these guys but most of today's thinkers try and build on it for the modern age though.(Just my opinion)

Warren Buffet’s Investment & Life Wisdoms

Spending: If you buy things you don't need, you'll soon sell things you need.

Savings: Don't save what is left after spending; spend what is left after saving.

Hard work: All hard work brings profit; but mere talk leads only to poverty.

Laziness: A sleeping lobster is carried away by the water current.

Earnings: Never depend on a single source of income.

Borrowings: The borrower becomes the lender's slave.

Accounting: It's no use carrying an umbrella, if your shoes are leaking.

Auditing: Beware of little expenses; a small leak can sink a large ship.

Risk-taking: Never test the depth of the river with both feet.

Investment: Don't put all your eggs in one basket

Keep a Cash Reserve & Be Patient

There are times when playing the stock market that your money should be inactive - waiting on the sidelines in cash - waiting to come into play.

In the stock market - time is not money - time is time and money is money.

Often money that is just sitting can later be moved into the right situation at the right time and make a vast fortune – patience – patience.

Patience is the key to success not speed.

Time is a cunning speculator's best friend if he uses it right.

Remember the clever speculator is always patient and has a reserve of cash.

Jesse Livermore

Don’t Ever Quit

Success seems to be connected with action.
Successful people keep moving.
They make mistakes, but they don't quit

Great Minds vs. Small Minds

Great minds discuss Ideas,
Average minds discuss Events,
Small minds discuss People

Ed Seykota Quote 1:
“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.”

Ed Seykota Quote 2:
“Fundamentals that you read about are typically useless as the market has already discounted the price, and I call them “funny-mentals”. However, if you catch on early, before others believe, you might have valuable “surprise-a-mentals”.”

Ed Seykota Quote 3:
“If you can’t measure it, you probably can’t manage it… Things you measure tend to improve.”

Ed Seykota Quote 4:
“The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.”

Ed Seykota Quote 5:
“There are old traders and there are bold traders, but there are very few old, bold traders.”

Ed Seykota Quote 6:
“”I would add that I consider myself and how I do things as a kind of system which, by definition, I always follow.”

Ed Seykota Quote 7:
“Systems trading is ultimately discretionary. The manager still has to decide how much risk to accept, which markets to play, and how aggressively to increase and decrease the trading base as a function of equity change.”

Ed Seykota Quote 8:
“Trying to trade during a losing streak is emotionally devastating. Trying to play “catch up” is lethal.”

Ed Seykota Quote 9:
“The elements of good trading are: 1, cutting losses. 2, cutting losses. And 3, cutting losses. If you can follow these three rules, you may have a chance.”

Ed Seykota Quote 10:
“Losing a position is aggravating, whereas losing your nerve is devastating.”

Ed Seykota Quote 11:
” The markets are the same now as they were five to ten years ago because they keep changing – just like they did then.”

Ed Seykota Quote 12:
“Luck plays an enormous role in trading success. Some people were lucky enough to be born smart, while others were even smarter and got born lucky.”

Ed Seykota Quote 13:
“Having a quote machine is like having a slot machine at your desk – you end up feeding it all day long. I get my price data after the close each day.”

Ed Seykota Quote 14:
“A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That’s the kind of thing winning traders do.”

Ed Seykota Quote 15:
“If you can’t take a small loss, sooner or later you will take the mother of all losses.”

Ed Seykota Quote 16:
“It is a happy circumstance that when nature gives us true burning desires, she also gives us the means to satisfy them. Those who want to win and lack skill can get someone with skill to help them.”

Ed Seykota Quote 17:
“I usually ignore advice from other traders, especially the ones who believe they are on to a “sure thing”. The old timers, who talk about “maybe there is a chance of so and so,” are often right and early.”

Ed Seykota Quote 18:
“I set protective stops at the same time I enter a trade. I normally move those stops in to lock in a profit as the trend continues.”

Ed Seykota Quote 19:
“I intend to risk below 5 percent on a trade, allowing for poor executions.”

Ed Seykota Quote 20:
“I don’t judge success, I celebrate it. I think success has to do with finding and following one’s calling regardless of financial gain.”

Ed Seykota Quote 21:
(On losing streaks and over-trading) “Acting out this drama could be exciting. However, it also seems terribly expensive. One alternative is to keep bets small and then to systematically keep reducing risk during equity drawdowns. That way you have a gentle financial and emotional touchdown.”

Ed Seykota Quote 22:
“In order of importance to me are: 1) the long term trend, 2) the current chart pattern, and 3)picking a good spot to buy or sell.”

Ed Seykota Quote 23:
“Risk no more that you can afford to lose, and also risk enough so that a win is meaningful.”

Ed Seykota Quote 24:
“Dramatic and emotional trading experiences tend to be negative. Pride is a great banana peel, as are hope, fear, and greed. My biggest slip-ups occurred shortly after I got emotionally involved with positions.”

Ed Seykota Quote 25:
“Be sensitive to subtle differences between ‘intuition’ and ‘into wishing’.”

Ed Seykota Quote 26:
“The trading rules I live by are: 1. Cut losses. 2. Ride winners. 3. Keep bets small. 4. Follow the rules without question. 5. Know when to break the rules.”

Enjoy, best.
B.R.

You will need great motivation if you have ambition!

Thanks for this audio. I've read it but audio books are easier for me to grasp the concepts.

Great thread.

Here's some motivation.
We are but a drop in the pond to this 15+ billion lot per year market.
The reason essentially infinite money is available is because nobody is perfect, even the best traders in the world.
That lack of perfection (not grabbing every last pip on every swing) is what makes it possible to always make money.

Hi guys

Thanks for the post and quotes etc.I will read though them later.Trading day about to start and focus is needed there

Here is a great video by Eric Tomas - Really good motivator / life coach - He went from being homeless to a millionaire.

Here he talks about "change" which is so important in trading.We cant make the same mistakes day after day.We need to change over time and become better and better otherwise we are stuck in this losing circle or loop.

Good luck for the week to all

Nice and positive thread!

I don't want to be rude, but you can't even spell "phycology" right in your poll, or, for that matter, "me," which I assume is supposed to be "be". Do I really need to spell it all for you?

I will not trust these results, no matter what they say.

However, I have still voted.

By no means am I suggesting that trading is easy... it's just that motivation has NOTHING to do with the picture.