Hi guys, hi from Andrea Unger! People often ask me why I teach. I answered this question many times, so this time I would like to focus on another question: why do you want to become a trader? What’s your main purpose in trading?
If this is a money-driven dream, you might be wrong or in a dangerous condition, because if money is the engine, you must have chosen trading because you probably think it is a sort of Eldorado where you can make a lot of money with a small initial investment.
As I have repeated many times, this idea is very dangerous and definitely far from the truth.
Are you driven by passion? Well, that is a good driver. It is also my driver, although not the only one.
However, how can you know you are passionate about something if you haven’t started doing it yet? I could imagine being passionate about painting without having painted a single canvas in my life, but what about trading?
What is it that causes that passion and pushes you into the trading world? What do you expect from trading and what are you looking for in becoming a trader?
Trading is clearly one of the fields that are most directly related to money. So, if you think of something that makes money, you obviously think of trading.
Betting is a similar field. I remember when, as a young man, I would bet on football matches through the good old Totocalcio system.
The first time I played this thing, here in Italy, together with my school fellow Marcello, we scored 12 out of 13. We won about 196.000 Liras.
That was my first try and I immediately made money. We thought we were very good at that, so we put our efforts in it. We developed a number of systems and methods, spending all the money we earned – and probably much more than that – without ever winning again.
The first win was a problem for us, actually. Today, betting on football and other sports has changed.
Nevertheless, the idea that if you have some knowledge in a certain field, because most people have some knowledge about sports, you can find a way to make money is deeply rooted.
In trading, too, one might think that a little knowledge is all that it takes to become skilled enough to face this world and multiply your money. This approach, as I have already said so many times, is extremely dangerous.
Probably, you’ll tell me that you trade out of passion, and not for money’s sake. Passion is a good driver, but you still need to be careful. Your passion will obviously make you study a lot, because you want to learn as much as possible, if you are really passionate about something you want to understand.
The Block of the Trader
When you get so passionate, you sometimes study too much. I know this might seem in contradiction with what I usually say in my blog and videos, but if you read on you’ll see that there is no contradiction.
If you keep on studying and you never go live, you’ll be avoiding an essential pillar of learning – practice. I think that the reason why most of these “super students” don’t go live is that they don’t want to destroy their dream of becoming a trader.
They develop systems, methods and winning curves. These people create incredible stuff, but never put it at the final test because of a sort of hidden block.
They are afraid of failure, because that would shatter all their dreams of becoming traders, so they keep on hoping to become traders without practicing.
Practice Is Essential
Avoiding practice is definitely not good, because it is only by putting things live that you can find out how the last step works.
I often look after my strategies and leaving them in live mode, I see things that sometimes lead me to further developments. When there are situations in which I feel uncomfortable, I run some tests to see what would have happened if I changed the conditions.
In most cases, I discover that the original system is still the one that produces the best results. However, sometimes I find some interesting tweaks or filters or whatever that may enhance my systems, adding to my baggage of knowledge.
So, sooner or later, you have to go live.
Studying and learning is good, but you’ll never become a trader if you don’t start trading. This is pretty obvious.
My Motives to Become a Trader: Freedom and Passion
What was it that made me become a trader? It was a desire for freedom. A freedom that I have, even though I don’t take great advantage of it. At least not in the way many people would figure out. In fact, I spend most of my time in front of the computer, looking at my strategies, learning and discovering new things.
It is true that systems and strategies work on their own, so this isn’t necessary, but I feel a strong sense of responsibility. I think I would feel a bit guilty, if I spent my whole days by the seaside while my systems work for me.
So, even though I could be free, I still spend most of my time working on everything that is related to trading. Is this right or wrong? I don’t know and I can’t tell.
Maybe, this could be compared to those who don’t want to shatter their dreams of freedom, which is still kept as an idea, even though it is pushed to a good level. Anyway, I know that, if I wanted to, I could be free, and working so much is my own choice.
Well, maybe this is very complicated, and I may need a psychiatrist to better define this, but in any case, freedom was my main purpose.
So, freedom, passion, money are all related one with another, because you need money to be free and you need passion to be happy with what you do.
What about you? Why are you a trader, or why do you want to become one?
Please tell me in the comments! Perhaps we’ll find out something interesting about you and keep in touch.
Ciao from Andre Unger.