Crypto and Forex Trading - Winners Need Discipline first before they seek Motivation
In real life your shouldn't under estimate your capabilities. We all have that sleeping lion inside us and we just don't know that yet until its time to unleash it. Have you ever seen how cats react when you try to attack them and they are cornered?, you will give them no choice but to fight back. The same concept applies to Forex and Crypto traders but its just that in the Market we do it cautiously. In Casinos they say "The house Always Wins" because they know that when a gambler fails to control his mindset and emotions he will make the worst decisions ever.
The Market Makers and large Financial institutions have enough funds to toy with our emotions. They might open a buy and a sell at the same time and when the price falls and reach their Take Profit they close the sell and hold the buy until it reaches its opening entry and close it at break even or maybe with 10pips profit. When this happens the retail traders will be holding tight to their long positions that's if they were not stopped by the stop losses and they expect to close at 150 pips profit and mostly a few traders survive that move because their emotions will be in-charge now and their decision making will be delusional.
The traders lose due to several reasons which include lack of patience which will lead to poor entries, greedy which will fool them to use higher lot sizes and risk more than they should and get stopped out in the process and also letting their emotions dictate how they should handle their trades. What i learnt is no strategy is 100% perfect and you will always make loss and the best thing you can do is minimize them. In the event of a series of loses and due to some reasons i stated above, should you go and seek motivation? No and here is Why you don't have to seek motivation:
Discipline is the Bridge Between your Goals and your Accomplishments not Motivation
Discipline is the key to success and without it you are guaranteed to fail. No matter how much motivation you get from motivational speakers or family and friends, as long you lack discipline its a waste of time. If its Forex or Crypto trading, make it a habit to always revise your closed trades and see why you did what you did. See the errors you made and correct them, if you had good entries always look and see how u spotted them so that after so many years you will be experienced on your craft and you will know how you should trade.
Blowing an account does not need motivation, it needs finding the reason which caused that and work on it to avoid the same mistake over and over again. Always stick to your trading plan and focus on your strength, if you are not good with volatile markets then stay away from them and avoid losses. Forex trading and crypto trading has the same concept but they are different assets and they move differently so know where your money is. Do not just trade for the sake of trading but be a disciplined trader who follows his plan.
Self motivation is the remedy, if they can do it you can also do it, learn from them to become what you aspire to be. Refuse to give up, know your weakness and work on it and counter attack on your strength. The market does not run away it will always be there so do not chase trades, The Crypto market is gonna explode and make us rich but the question is, are you disciplined enough to hold on to your invested altcoins till the whole world has adopted crypto?
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