This is How You Improve Your Trading ConfidenceAug 28th, 2013 | By Bella | Category: General Comments
Confidence is a skill that you can improve. Yes, you can improve your confidence as a trader. How?
Below is an exercise to improve your confidence.
EXERCISE: Take a piece of paper and split it into four columns. The first column is titled “Hot Button Situation.” In this column list situations that you believe are your “hot button” issues. The second column is titled “Hot Button Cause.” For this one write why your “hot button” issues are “hot button” issues for you. For example, have you been injured in that particular situation before or do you just perceive your ability to be below standard? The third column is titled “Negative Self-talk” and this is where you list any common negative thoughts that enter your head relating to your “hot button” issues, such as “I have been injured before in a tackle, I will get injured again.” The fourth column is the most important, titled “Positive Self-talk Replacement.” For this one you must think of positive replacements for your negative self-talk. These must be realistic, but also effective. For example, “Prior to my injury, I had never been injured in a tackle before, chances of injury are slim, and I know I can overcome injury if it unfortunately occurs. I can do this.”
Apply this to your trading. Take a piece of paper and split it into four columns.
Column 1. When do you lose confidence as a trader?
Column 2. Why do you lose confidence during these trading moments?
Column 3. What negative self-trader talk enters your trading brain?
Column 4. What positive replacements will you use for your negative self-trader talk?
Related blog posts:
Three Ways to Overcome Your Fears From Past Trades
You can be better tomorrow than you are today!
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