Home of The Jackal Juicer & The Jackal Superior Signals - 24th May 2009 - 01:06

The Way Of The Jackal.

Mr Motivator

HE CAN MOULD YOU INTO A GATEAX OR YOU CAN CHOOSE TO BE A FLAN!

It’s very important,in fact, it’s essential to understand your motivation to trade.Are you doing it primarily for financialreward or because you want to be good at it.The most productive traders are in the latter group, they focus on being excellent at what they do and then the rewards come along as a matter of course.

Ask yourself the questions below and see if your motivations are external like money, material possessions and recognition or internal like improvement and enjoyment.

• Why did you start forex trading
• Why do you want to start forex trading
• What was it about trading that appealed to you
• What do you expect trading to give you
• What do you enjoy about forex trading
• What do you not enjoy
• Why is being a forex trader important to you

Then just when you thought you had finished, answer these.

• Do you have a strong interest and commitment to trading whether part or full time
• Do you  have the desire to attain a high level of forex trading performance
• Do you have the willingness to put in significant time and effort to reach your trading goals
• Do you understand what it will take to reach your goals
• Motivation and resilience are critical factors to your trading success, is this you
• Can you bounce back from setbacks and keep going in the face of adversity

Homework completed, will let me enlighten you.

Internal Motivation: progress and performance remains high even when

faced with challenges and difficulties
External Motivation: A much higher risk that progress and performance will

dilapidate rapidly when under pressure.

In other words put all this spiel of mine together, mix it up, swirl it around, shake and bake it and you come out with two types of cake, er I mean trader:

Mr ET {Ego Trader aka The Flan} and

Mr BT {Best Trader aka The Gateaux}

ET: Wants to win – needs to look good – whinges and complains – always someone else’s fault – likes the image – rarely wrong {but usually is} – loves a flan
BT: Always looking to improve – strives to be the best – accepts responsibility – learns from mistakes – focussed on own performance – accepts losers as learners – Gateaux expert

So,  if you come under the category of ‘ET’ I suggest you do as the character did and ‘go home’  and chat to your friendly flan.

As for the BT’s amongst us, when it boils down to trading I couldn’t have put it better than the advert myself  ‘ it’s for youhoooo.’ Enjoy the Gateaux.

All is not lost my friends if you’re on the verge of ringing the Samaritans because you’ve discovered you’re in the ET CLUB, you have but to put the effort in and become an elite part of the members only BT CLUB, go for it!