What’s your hidden reason for becoming a trader?

[analyst100]

REWARD VERSUS MEANING
Trading success does not follow a linear trajectory, success ebbs and flows with good times and bad times. If you trade for long enough you there eventually will come a time when you question the decision you have made to become a trader. It all seemed so easy initially and there was never any consideration as to what could possibly go wrong.

This is a natural part of the journey and it is a watershed moment because those who understand their own motivations will have sound concrete reasons for continuing. Those who do not or whose motivations could be termed shallow or materialistic in nature do not and it it those who do not who will most likely give up.

Often when I ask people why they want to trade I get the overwhelming and immediate response – MONEY. After all this is a money profession – the aim of trading is to accumulate wealth through whatever approach suits your personality. It could be options or FX trading, or position trading equities.  This pursuit of wealth as a sole driver is the reason why advertising in this industry is directed to switching on this particular hot button. Money or the accumulation of wealth has always been a strong societal driver.

In technical parlance money is known as an extrinsic motivator – that is you do something right – you get a reward. It is a very Pavlovian arrangement. This arrangement is after all is the basis for capitalism. Traders are often caught in this trap believing that this is an exchange for labour profession when it is actually an ideas profession. This is a natural mistake because of all of our socialisation has lead us to this point.

We have been lead to believe that labour be it in whatever form it takes is exchanged for money and money is the extrinsic motivator. Granted, some are highly motivated by such rewards since careers are built on this sort of behaviour manipulation but trading is not really a career it is in my eyes more of a lifestyle choice.

Unfortunately many fail to see beyond this as an initial motivation. The issue with money as a motivator is that the subconscious cannot recognise what this means so it has no context for it. Therefore it cannot be integrated into ones psyche – it remains if you wish an outsider sitting on the sidelines attempting to steer what you do. But no matter what import you give to it as a motivation it is still an outsider and cannot directly influence the trajectory of your behaviour.

The issue with this lack of integration is that eventually it will trip you up – the subconscious has a remarkable ability to go in the direction that it wants to go in. Not in the direction you think it should go in. And you and your trading suffer the consequences of this.

In part this disconnect relates to the notion of the shadow which is an integral part of Jungian psychology.  Essentially the shadow is the darker more destructive parts of ourselves which our conscious mind does not identify. And it these parts that often brings traders unstuck – the expression that is often bandied about is snatching defeat from the jaws of victory.

Over the past three decades I have lost count of the number of traders I have seen who have been on the cusp of making it only to do something stupid. Sometimes the better angels of our nature lose the battle.

To be successful at trading there is a need to integrate all of our beliefs, desires, and motivations into a cohesive whole as opposed to a jumble of vague ideas which revolve around money.

Money as a motivation will fail to survive the first set back you have and there will be set backs since these are also part of the game. It is only deeper motivations that enable us to move on after being literally put on our arse by the market. To think that this will never occur is naive in the extreme but once again the industry itself is to blame since it only promises the new Ferrari not that you might end up actually catching the bus.

A deeper reflection on why people want to trade reveals something other than money. And these answers reveal the true nature of the trader. Some relate to control of one’s life, others to time and having more of it. Others to what they will be able to do in the long term with their family. Such motivations are intrinsic; they are part of the fabric of the trader. Trading is merely a vehicle to fulfill these deeply held aspirations.

The motivations that each person brings to a certain endeavor or choice is idiosyncratic and will not translate to someone else. Your goals only have meaning to you but this is the central issue, they have to be your goals and not someone else’s and this clashes directly with the way we have been brought up. The structure of our lives is largely built around fulfilling the goals others, be it doing what you we told at school through to following the instructions of your employer.

Getting rich was often the payoff for following someone else’s instructions. It is not a value or meaning in and of itself. This is an important distinction because true motivations are based around meaning and not reward – Both Great change and great resilience comes from internal motivations and the strongest of these spring from the search for meaning.

This means that the search for meaning is an internal search. You do something because you want to do it not because you will get a reward for it. Internal motivation brings about meaning and purpose and therefore adherence and dedication. Finding purpose in your own goals is a new experience for many since it is reflective of what you want from your life not what someone else’s either wants from you or wants for your life.

This means that you have to undertake the hard task of writing down your meanings – what is your purpose in wanting to follow a certain path. It requires you to have your own philosophy and to be able to articulate what this is. This is the hard part – articulating what you want and you should be able to do this even if it is a struggle. Meaning has its own motivating qualities.

I firmly believe that it is impossible to motivate someone irrespective of what the industry that has sprung up around positive thinking will tell you. Motivation and therefore reliance stems from meaning since true meaning cannot be dimmed by external events whereas simply being driven by a desire to have a Porsche by next Thursday will not survive the first hurdle.

Author: Chris Tate

Article reproduced with kind permission of Tradinggame.com.au 

[shinratensei_]

Such the author was ignoring the money motivation,
I may think if some of they word were becoming the right word.
But such the money still have a domination on the people's intention on trading.

[Zadicar]

Such the author was ignoring the money motivation,
I may think if some of they word were becoming the right word.
But such the money still have a domination on the people's intention on trading.

Im believing the same thing too on which money is the primary intention on most people would tend to engage into trading..There are some possible reasons but it depends on what kind of individual are you because some do love to learn trading because it acts as a dream  and they are pursuing to achieve that,

[1enterthebtc]

Obviously we are looking to make as big as profit in the shortest time. Thats the bottom line. When I hear trading I'm thinking BTC forex which is extremely risky risky.

[clickerz]

Im believing the same thing too on which money is the primary intention on most people would tend to engage into trading..There are some possible reasons but it depends on what kind of individual are you because some do love to learn trading because it acts as a dream  and they are pursuing to achieve that,

I think you have a point here, and sometime a "title" being a trader spark curiosity from me especially a cryptocurrency trading.This is something new to my ears and it motivates me to learn how. I do read from forum here and open an account online exchanges, just curious to learn the trade.Also I hear some success stories that they earn or having financial gain from trading,and it amazed me.

[StarofBTC]

Obviously we are looking to make as big as profit in the shortest time. Thats the bottom line. When I hear trading I'm thinking BTC forex which is extremely risky risky.

While I totally agree with you bro but at the same time when I first started trading it was because I had some groups on my skype id and there most of the people used to talk like professionals and I used to feel bad so I though I should start trading and know how it works. I never made enormous profits but I know all about trading.

[Idrisu]

Such the author was ignoring the money motivation,
I may think if some of they word were becoming the right word.
But such the money still have a domination on the people's intention on trading.

Im believing the same thing too on which money is the primary intention on most people would tend to engage into trading..There are some possible reasons but it depends on what kind of individual are you because some do love to learn trading because it acts as a dream  and they are pursuing to achieve that,

my aim of trading is to make money and I believe this is the. Aims of everybody her.

[traderethereum]

as the title of the thread said "what's your hidden reason for becoming a trader?", i will not cover it into public because its a secret for the other, i will keep with me and only me that have to know my reason but for the reason that i will tell to the OP is i want to make money from trading and this is why i am decided to be a trader in cryptocurrency.

[piloder]

Hidden reason for becoming a trader? Actually its almost public that reason behind anyone to choose to become trader like;
1. you can set your own time of working/trading.
2. you can take holidays solely on your own decision.
3. you will be your own boss.
4. If you are elite trader you can actually make what others make in one whole day working hard in few hours with some click of mouse. 

[dmamigo]

The basic reason is to earn some money on your own, by your choice of time. You get to use your own personalized knowledge regarding the market.
You can blame nobody and nobody will blame you for Profit/Loss, totally free from anybody's influence. And about the hidden reason you stated, that will be hidden I believe.

[BingoDog]

I can't call myself a trader really. I trade just occasionally but there are no hidden reasons for this. To earn some profit, to make money is the first reason. Trading is also the good opportunity to learn something about the market and get some skills about finances and cryptocurrencies. So there is no secret at all. 

[Victorycoin]

Hidden reason for becoming a trader? Actually its almost public that reason behind anyone to choose to become trader like;
1. you can set your own time of working/trading.
2. you can take holidays solely on your own decision.
3. you will be your own boss.
4. If you are elite trader you can actually make what others make in one whole day working hard in few hours with some click of mouse. 

I think OP should have asked, "What is your main reason for becoming a trader?" My response would have been everything above plus the fact that trading enables me to work from virtually anywhere, greatly reduces my overhead, staff and accommodation and without affecting profitability. Trading when approached the right way can hand over fortunes to a trader than could many years of working for other people.

[pooya87]

the aim of everyone is money and there is nothing that can change that. and fails for some people means giving up and for others it means getting stronger by learning from mistakes and not repeating them to make more money in the future. everything else is a side product of wanting more money.

[Oilacris]

the aim of everyone is money and there is nothing that can change that. and fails for some people means giving up and for others it means getting stronger by learning from mistakes and not repeating them to make more money in the future. everything else is a side product of wanting more money.

Indeed. Everyone like to learn trading because we know that we could able to make decent money or even setting us from financial freedom but we all know its not a really easy thing to do since you will really need years of practice depending on your learning process.Just like what youve said money is the aim for most people would tend to engage onto trading.Its everyones dream for sure including me.

[Zadicar]

Im believing the same thing too on which money is the primary intention on most people would tend to engage into trading..There are some possible reasons but it depends on what kind of individual are you because some do love to learn trading because it acts as a dream  and they are pursuing to achieve that,

I think you have a point here, and sometime a "title" being a trader spark curiosity from me especially a cryptocurrency trading.This is something new to my ears and it motivates me to learn how. I do read from forum here and open an account online exchanges, just curious to learn the trade.Also I hear some success stories that they earn or having financial gain from trading,and it amazed me.

Earning from trading would really amazes us since we could see good digit number of profits and whos people dont like that scenario?None,right.? Thats why people would really eager to learn and same as you mentioned those success stories really inspire us but we should think that they gain and achieve it by their all hard work and we should do what they do also.

[beerlover]

Obviously there is no hidden reason for why I become trader. I just want to have an alternate income and I have chosen trading. I guess only very few traders may have any hidden reasons.

[Robertqueen2]

Of course the money is the biggest incentive for every trader, trading is the fastest way to collect money and people like to earn money easily without effort, therefore we watch a lot of people are in the trading and gambling scene, I don't say all are successful, but this type of jobs attracts them.

[warwar]

Im believing the same thing too on which money is the primary intention on most people would tend to engage into trading..There are some possible reasons but it depends on what kind of individual are you because some do love to learn trading because it acts as a dream  and they are pursuing to achieve that,

I think you have a point here, and sometime a "title" being a trader spark curiosity from me especially a cryptocurrency trading.This is something new to my ears and it motivates me to learn how. I do read from forum here and open an account online exchanges, just curious to learn the trade.Also I hear some success stories that they earn or having financial gain from trading,and it amazed me.

Earning from trading would really amazes us since we could see good digit number of profits and whos people dont like that scenario?None,right.? Thats why people would really eager to learn and same as you mentioned those success stories really inspire us but we should think that they gain and achieve it by their all hard work and we should do what they do also.

Agree if they could be successful in trading why we coudnt also successful in our own way? Their stories and evidences makes us decide to earn and to get our own goal in trading. They also encourage and helping us to earn some profits by doing trading

[SvenBomvolen]

Obviously we are looking to make as big as profit in the shortest time. Thats the bottom line. When I hear trading I'm thinking BTC forex which is extremely risky risky.

   Its true, we wish to make big profit in short time, and that is not hidden reason. I see how people making money with trading, and that lure me into it. You think about btc forex trading, its something new or me, I like how people trade with altcoins. They are cheap, and I saw how some people earned a lot with eth just recently. I would like to trade with coins like eth is, buy very cheap and sell for a lot, my starting fond is small, btc trading is expensive for my pocket.

[arwin100]

For me crypto tradings is just my practice ground at first so i can learn more knowledge from it to be used on forex tradings but seems i fell inlove for the fast flactuations of crypto and earning yet good here, but i cannot take out the fact that wr can also lose some money here but we can overcome those lose if we followed the coin we wish to trade on, and surely in near future i will do trades on both forex and crypto a2nd try to make more money with it.