Being a Confident Trader in FY 2021!

I’ve shared a ton of my trade, Trading set up and Trade management techniques over the past Year, and today I would like to talk about something about starting your journey as Profitable Trade in theBeing a Confident Trader in 2021!. Let me share a few things that have made a huge difference for me in my trading  and how you can implement them too.

Being a trader is not just about formulating better strategies and performing more extensive analysis, but is also about  Trading with Confidence and developing a winning mindset. According to many studies of traders, what separates a winning trader from a losing one:

  • It’s NOT that winning traders formulate better trading strategies
  • It’s NOT that winning traders are smarter
  • It’s NOT that winning traders do better market analysis

What separates a winning trader from a losing trader is their psychological mindset.

Think about it how long it would take you to speak Chinese properly and to be able to write so that you could say, “I speak and write perfect Chinese. ”
Until your brain is constant through this language, Networked repetitions of the exercises in such a way that you have to call them up all the time it will take time. 

 And that’s what it’s all about: Profitable trading with Confidence

To learn behavior like this and to repeat it continuously without mistakes until your brain has internalized this new knowledge in such a way that it is constantly available . Like brushing your teeth every day or climbing stairs. In the Psychology calls this ability “unconscious competence”. 
You can do something without having to think about it, because your unconscious Supports you in this. Achieving that requires will, patience and the Willingness to renounce the old actions

People say to me “You’re such a confident trader” and “You’re very consistent in your strategy” and believe me it’s not because I am disciplined. I do not believe I am that way by nature but I am confident because I understand my trading approach, and I have confirmed over and over again throughout the years that it works for me. Confidence in it is a natural result.

Being confident is the key to come with better decisions. When a Trader is confident, he becomes capable enough to determine what is right and wrong for him. He understands that being confident will help to be more skilled and determined in his work. If a trader has no confidence in his trading then there is no way that he can make big profits out of a deal. Confidence is also needed if you want to make some decisions. When you suffer from indecision due to lack of confidence, then there are potential chances of making the wrong decision.

Without having strong confidence, no one can become successful at trading. Elite traders never lose confidence even after having series of losing trades. They know their trading system is capable of generating big profit at the most complex sitatioin. So, how can we develop confidence in the trading profession? The answer lies within your risk management approach. Never lose hope after losing a few trades. You should know the fact, the results from each trade is completely random and there is nothing you can do.

I think new traders have it easier. Less baggage, less to unlearn, and usually a ton of enthusiasm. Experienced traders or traders coming off a losing approach take much longer. Their confidence is often in tatters, they are riddled with doubt and mistrust and can override that just long enough to try something new. That’s a tough uphill climb, for both student and teacher.

Here are some pointers to help increase trading with confidence:

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