What’s your motivation for doing what you are doing?
If you’re learning about the financial markets, why are you REALLY doing that?
What are you ultimately trying to achieve?
A lot of us would answer that our primary motivation is to earn money. However, this isn’t always a good motivator if you want to achieve success in something like trading and investing. Besides, it’s likely that your motivations go much deeper than simply having hoards of cash anyway – what benefits do you want to derive from it?
In 1962, Sam Glucksberg ran experiments that showed how performance being driven by financial incentives will actually suffer in activities involving right-brain tasks such as problem-solving, inventiveness, analysis or conceptual understanding (things that often factor a lot in trading or investing).
Additionally, further studies have shown how intrinsic motivation for performing well in an activity, rather than financial rewards, leads to longer-term, sustained success (just look at billionaires like Ray Dalio, Warren Buffett or Paul Tudor Jones, for a real-life example!).
So with all that in mind, what’s your REAL motivation for doing what you’re doing?
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