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In principle, this article is dedicated to everyone who's intending to become a trader, however, he/she's looking for the right motivation factors that could push them to make the first step.
Therefore, here below, we have described some reasons that could represent the first important step for already experienced traders today, and at the same time, that could be those steps that changed their lives from the basis.
Reasons why people start to trade
1. Profit expectations
Yes, as in any other employment, even here, the money was and probably will be the top motivation for most of the newbies.
However, in this industry, an even larger motivator from the profitability point of view compared to other work is the expectation of a relatively "easy" profit.
Most of the time, people see at the beginning that only a couple of instructions have to be done, or only a couple of mouse clicks – and the money will come.
Unfortunately, as always, it's not that easy, and the market will demonstrate the reality to them that it's not going to be that simple.
2. Human EGO – Proof that we're better than the others
Yes, our EGO is another big reason why people are becoming traders. Since our childhood, in fact, we compete to become better than the other. The same applies to trading. Many traders started only because of proving to the others that they are better.
There are numerous angles to consider trading from. Even in history, some started only because they wanted to be richer than the others, not engaged in this industry. Well, we can only state the fact that some achieved it.
3. Achieving freedom and independence
Another very strong motivation why to start with trading is the expectation of achieving wide work freedom and independence. Albeit it does not have to look like that, people who are employed, are giving up freedom and independence to a certain extent.
And right this independence on other persons (employers) and free decision-making about when, where, and what the person is going to do, is another big motivator thanks to which the trading community is rising gradually.
4. Public opinion – how people see us/how we see us
Often, people are becoming traders just to be seen differently as only the people spending all their day in offices, maintenance works, teachers, etc. Here, the motivator is their own human psychology -> how they see themselves.
5. Experiences with investment intermediaries
Many traders decided to start trading also because of not being satisfied with the results of investment intermediaries they put their confidence to.
A frequent problem of these intermediaries is the fact that the expected results of an offered portfolio often do not correspond to real results (in fact, they tend to be much worse).
Another motivation in relation to intermediaries were (for some traders) lower costs.
Often, intermediaries charge you the administration fees, success fees, deposit fees, etc.
Thanks to the fact that some traders start to trade on their own, they often decrease their investment costs and, potentially, thus they increase their potential profit.
Conclusion
Whatever your motivation is, everyone should remember that trading is not a game, it's a job. It requires a huge amount of courage, sustainability, self-reflection, and many times, also funds that may, in the worst case, simply be lost extremely quickly.
If you would like to try out trading with top tier trading conditions and professional forex broker, don't hesitate to try our demo account that may be open on our website completely for free and free of any risk: www.purple-trading.com
We wish you many profitable trades!
About the Author
Team Purple Trading
Purple Trading is a true and 100% fair ECN / STP forex broker providing direct access to the real market. High speed orders execution, no trade-offs, no limits for any type of trading, the most advanced trading technologies. Explore more about Purple Trading at www.purple-trading.com .
CFDs are complex instruments, carrying a high level of risk of losing the entire investment as a result of leverage. 70.5% of retail investors lose their capital when trading CFDs with this provider.
(This value was set within the period from April 1, 2018, to March 31, 2019. You should carefully consider if you understand how CFD instruments work and if you can undertake such high risk of losing you initial investment.
Trading forex exchange with margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. You could lose part or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Seek independent advice if you have any doubts.
Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice. L.F. Investment Limited will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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