Good morning, traders…
The market just opened.
You pull up your watchlist…
You see a setup that looks intriguing…
Do you want that trade, or need that trade?
If your motivation is a “want,” that means you’re curious about the markets, excited to learn a new skill, and approaching the game with passion.
This is a positive approach because there’s less pressure on every trade. You can make mistakes, grow from them, and improve at your own pace…
But if your motivation is a “need,” your mindset deteriorates…
You might feel the “need” to make money quickly to pay off bills, support your family, or get a head start on your retirement.
But the options market isn’t the place for that.
Trading is already stressful enough. By making it a need, it can become an emotional nightmare.
Suddenly, you’re not just learning a new skill or investing in your future … you’re desperately relying on every trade to go your way to solve immediate financial problems.
This is a negative approach because the stakes are much higher, bringing fear into the equation…
This difference is more significant than you might think…
This 1 Small Mindset Shift Can Completely Transform Your Trading…
Want vs. Need: What’s the Difference?
Let’s start with an example everyone can understand: mowing the lawn…
Most of us cut the grass because we want a nice yard, take pride in the appearance of our home, and don’t want our neighbors to complain.
But mowing the lawn isn’t a need. You don’t need a well-manicured yard to survive. It’s a want…
Now, let’s switch gears to trading. The best traders approach it with the mindset that it’s a want…
There’s no desperation involved. They’re patient, disciplined, and focused on long-term success.
Better yet, they can quickly bounce back from losses because they’re focused on the process, not the immediate results.
Unsurprisingly, these are the traders who succeed in the long term.
But if a “need” drives your trading, your mindset will change for the worse…
The Problems with “Needing to Trade”
Trading with a “need mindset” is extremely dangerous…
When you’re under pressure to make money, you’re more likely to make emotional (and incorrect) decisions.
You’ll take speculative trades. overlook your risk management rules, and ignore your proven strategies.
And speaking of proven strategies…
What if I told you there’s 1 strategy that works in 80% of market conditions?*
I’m talking about the same approach I used to turn $50 into $1,260 in just 2 months…*
And I’m about to reveal exactly how YOU can weaponize this strategy during my Simpler Options 2-Day Virtual Bootcamp.
If you’ve been wanting to understand how options really work, now is the time…
The market won’t wait for you to figure this out on your own.
The market won’t wait for you to figure this out on your own.
Because if you don’t trade within a framework, a process, a strategy…
The fear of losing and the desire for quick gains can lead to irrational decision-making.
You know you shouldn’t take that trade…
But now you’re in a position where you need to make money…
And when every trade feels like it could make or break your bank account, fear and desperation start taking the wheel.
Suddenly, you might be tempted to move your stop loss lower, hoping the chart will turn in your favor.
Or you might take on a bigger position than usual because you think you need to hit a grand slam.
These actions go against everything I’ve taught you.
But in the moment, you’re only focused on meeting that financial need.
To make matters worse, trading out of need also amplifies the pain of losing.
When you trade with a want mindset, a loss is disappointing, but it’s part of the process. You learn from it and move on.
But when you trade with a need mindset, losses feel devastating. They shake your confidence, increase your desperation, and lead to even more impulsive decisions.
Instead of learning and improving, you’ll be helplessly stuck in a cycle of emotional revenge trading, doing anything to recover from losses…
Don’t let that happen to you.
Do this instead…
4 Ways to Avoid the “Need Mindset”
Set Realistic Goals
- Approach trading as a long-term skill-building process, not a get-rich-quick scheme.
- Set achievable financial goals on a realistic timeline. Don’t be discouraged if you don’t hit your goals perfectly.
Trade with Capital You Can Afford to Lose
- Only risk money you’re willing to lose, so financial pressure doesn’t drive decisions.
- Avoid trading with money meant for essential living expenses.
- Understand that losses are an unavoidable part of trading. Make peace with the feeling of losing money.
Plan Your Trade (and Trade Your Plan)
- Create a detailed trading plan (with defined entry, exit, price target, and stop loss) before putting any trades on.
- Follow your plan consistently, even when your pesky emotions tempt you to deviate.
Manage Risk Like Your Account Depends On It (Because It Does)
- Use stop losses to protect your trades.
- Scale out of your winning positions to gradually lock up gains.
- Size your positions carefully. A single trade shouldn’t be able to wipe you out.
- Choose strike prices and expiration dates that fit your trading style.
Most importantly: Before entering your next position, ask yourself:
“Do I want this trade … or need this trade?”
Happy trading,
Ben Sturgill
*Past performance does not indicate future results, Not typical.
