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Get Motivated

Aug 27, 2015 | Dr C K Narayan | Interesting Read | 5 Comments

Get Motivated

The last couple of days would have knocked the resolve of anyone who is in the markets. I had two different people tell me two completely opposite sentiments. The first one, a hard core trader, who is smart enough to move money where it will yield something said he would never invest into mid and small cap stocks anymore. This was after his entire portfolio (or much of it anyway) was down big time in the carnage of the last week. The other one, a smart cookie who dabbles in futures but is more into investing swore that he would keep off trading now! This was after his long futures positions were smashed to bits last week! Two people with two opposite conclusions from the same event!

What makes them feel this way? I guess it comes down to your inherent preference for one area of the market- either trading or investing. Difficult to do a good job of both until you have matured a great deal in the markets. In time, both these people will get back to what they were doing (mix it up between trades and investments) but right now they need some motivation for even getting back into the markets! This brings to mind the very need for motivation. Were you aware that even somebody like Warrant Buffet has a motivational poster in his office! I am told that it says, “Invest like a champion today”. Imagine, even the best investor in the world needs to remind himself to stay the course. So what are we complaining about?

But motivation is a key factor that keeps us going. I solved this problem many years ago by getting my wife involved in the markets. She motivates me when I am down and likewise I do it for her when she feels let down. I believe many a trader makes the mistake of never involving their spouse in their market affairs. It is curious that you will expect your spouse to support you in almost every area of your life- then why not the markets also? I feel having a spouse as your motivator makes for a good reason for us all to do well. After all, who doesn’t want to see admiration in the eyes of the person they value the most in life?

Find your motivator. If it can’t be a person, buy a poster that carries a message exhorting you to do better or stay the path or get up again. Many times we lose in the markets because we make mistakes. But equally, there are times when the market just beats the hell out of us. Any which way, you need some motivation when you are feeling a bit down. The sooner you get back on your feet in the market, the better it is for your financial health. The motivator factor could be one of the missing links in your trading set up. Go, get it.

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