The Trader's Pendulum: The 10 Habits of Highly Successful Traders

Chapter 4Habit #1: Establish a Trading Business for the Right Reasons

Todd Murphy glanced at his watch and realized that it was already 8:30 p.m. He quickly took a sip of his cappuccino, rushed to the sink, and splashed cold water on his face. Some instant refreshment was what he needed after a long day.

He had just ended a long and tedious appointment and had to get ready for the next one. Todd was a personal financial planner, specializing in retirement planning. His weekday nights never ended before 10:30 p.m., and most weekends were also lost to appointments. For the past few months, he had hardly taken any breaks.

He was physically exhausted, but the sense of fulfillment from his job was the reason he kept going. He remembered what he had gone through just six months earlier.

The Negative Motivator

Six months ago, Todd realized he no longer found meaning in his job. He did not understand why he could allow himself to be bound to the office chair when his real strength and interest were in interacting with people and helping them to solve their problems. His job was not paying him well either. Despite the hours he dedicated to his work, he was earning barely enough to cover his expenses. And it was close to impossible to save for rainy days.

An infamous slave driver, his boss would spare no thought to squeezing every drop of energy out of her employees. She thought unless she micromanaged them, she would not get the best returns for every cent she paid them. Every minute ...