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How to Get Motivated Fast: 8 Effective Techniques

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Written by Timothy Sykes
Updated 2/2/2021 7 min read

Get Motivated Fast

One of my newest millionaire trading challenge students named Steven found me on Instagram because he liked my Lamborghini…that motivated him to study his butt off and now he’s made over $2 million and just bought himself a McLaren!**

So, do you wonder how to get motivated to do the same, or even better? To be a great trader, you need to have a strong sense of self-motivation. It’s what gives you the ability to stay committed to your goals and maintain the strenuous workload necessary to find success after soooooo much studying! However, it can be difficult to maintain motivation day in and day out and truthfully, even the highest-performing traders could use an inspirational boost from time to time…welcome to the purpose of my account on this social network as it works like a charm for students galore!

However, if you need to get motivated fast, there’s no need to despair because there are some easy solutions. Try one (or all) of the 8 easy techniques detailed in this post. Chances are, you’ll find that these tricks are incredibly effective at shifting your mindset. 

1. Edit your goals. Overall, it’s important for any trader to set goals. Not only do goals help create a direction for the trajectory of their career, but they help you stay focused. However, as time goes on, sometimes goals become less relevant, and therefore offer less incentive.

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Have you lost sight of your goals, or are they no longer inspiring to you? If so, it may be time to make some edits to your goals. Perhaps this means setting new goals entirely, or maybe you just need to insert more milestones along the way to make them seem more accessible. Having goals that feel within your reach can be a great way to get motivated fast.

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2. Meet with a mentor. Spending some time with your mentor can help improve your motivation in a big way. Explain your situation to your mentor, and see what they have to say. Chances are, your mentor has been where you are before.

Since he or she is further along on their career path, they can offer helpful and knowledgeable advice. Maybe they even have specific anecdotal advice about how to get out of your unproductive state and start feeling inspired again…welcome to why my goal for my trading challenge students is to be the mentor I never had!

3. Surround yourself with success. Surrounding yourself with an aspirational crowd can act as a powerful reminder of what can happen if you really apply yourself to your work as a trader. So go ahead, seek out the people who are killing it in business. Attend networking events, seminars, and even local business meet-ups.

Seek out the types of people who make you a little jealous, and who you’d like to emulate in your own career. Then, learn from them. Listen to their stories, and observe what it is that they’re doing that is yielding such great results. See if their success can rub off on you by inspiring you to implement some of their habits and traits into your own career. 

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4. Try something new. If you need some motivation, sometimes it’s as easy as stepping out of your comfort zone and trying something new. It could be within the trading sphere, for instance, investing in a new type of company. Alternately, it could be trying something totally different, like dabbling in cooking or trying a new type of workout.

So how does this help you get motivated fast? Basically, when you try new things, it challenges you to be more adaptable and not get stuck in your ways. As a trader, it’s important to not get too “stuck” because it can keep you from being able to adapt with the ever-changing market.

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5. Help someone else. This tip comes from personal experience. Acting as mentor and teacher to the Tim Sykes Million Challenge Team is actually one of the most inspiring and motivating things I do. Hearing my students’ questions and seeing them develop their own processes makes me continually question my own work. It challenges me to become better. In that way, it’s extremely motivating.

Why not give it a try in your own career? Donate your time or expertise to others. It could be to someone who is just starting in the same field as you, or maybe it’s volunteering time to aid those who are less fortunate. Assisting others can be a powerful motivator and a reminder to be thankful for what you have.

6. Do something you love. Sometimes, what you really need to regain motivation is a little time away from your computer screen. By focusing on doing something that gives you pleasure, you’ll be able to come back to trading refreshed and with a new sense of purpose.

So, what gives you joy? Whether it’s fine art painting, running, or camping, take some time to bring it back into your life. What you will lose by taking time away from trading you’ll regain with a renewed sense of vigor and inspiration. After all, we can’t work all the time.

7. Get something annoying done. What are the things that bug the crap out of you that you just can’t seem to get done? For instance, many traders would cite doing research on potential trades as such an annoying task.

Pick one or a few of these annoying tasks, and just get them over and done with. Not only will you feel less burdened, but you’ll feel excited to do the things that you want to again. Overall, with this new sense of space and freedom, you’ll have more room to do the things you want to do that will get you closer to your goals.

8. Do something. Don’t just sit there: do something! Sometimes, it’s your lack of action that is causing your lack of inspiration. Starting something, be it a new project or a new business, can get you motivated fast…even if you fail or decide it’s not for you, just start trying stuff ASAP and then adapt to what works best for you over time.

If you’re just thinking about getting started with trading, maybe this means joining the Tim Sykes Millionaire Challenge. If you’re an entrepreneur, this might be starting a new venture. The fact is, nobody is going to make things happen for you. Why not take the leap?

Generally speaking, there are plenty of things that you can do if you want to get motivated fast. By reading through these tips, perhaps you saw some that you think could be effective for you. Go ahead and give them a try; what can be hurt by trying? All in all, sometimes that’s needed is to shake things up a little bit so that you can get back to a meaningful work life.

What motivates you? Tell me in the comments section below!

 


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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity.
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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”