Having confidence in a trade is easy. You do not know what is going to happen, blinded by opportunity. Every trade is new. Easy to convince yourself that this time it will be a winner. This takes no effort other than convincing yourself. This is what is described in first circle. You can look at a chart and imagine you can do it. Hindsight. As a new trader I was very confident, but I was confident in myself.
Having confidence in trading is much harder. It requires you to have confidence in every trade. You have to look at a series of trades and results not just one. True confidence comes from a trading plan and process. This is what describes in his second circle. Hindsight cannot be used. This is about execution. Execution does not lie and you cannot hide from it. As I matured I had confidence in myself as a trader after doing the work.
Hero Moto Corp
Hero Honda has is at crucial juncture with a price range from 2210-2220. At this level price has been rejected 3 times before and Hero honda will make fourth attemp to capture the level and close above 222.Failing to do so will take the stock back to 2100 odd levels
Buy above 2230 Tgt 2264,2290 and 2315
Sell below 2177 Tgt 2144,2127 and 2092
Volumes were quiet low during the 2 days of fall seen
Buy above 49.2 Tgt 49.8,50.4 and 51
Sell below 47.8 Tgt 47.2,46.8 and 46.3
Buy above 196.2 Tgt 198.3,200 and 202
Sell below 192.3 Tgt 189.6,186.3 and 184