{"id":11263,"date":"2011-05-02T11:06:14","date_gmt":"2011-05-02T15:06:14","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=11263"},"modified":"2021-05-07T11:25:46","modified_gmt":"2021-05-07T15:25:46","slug":"increasing-your-confidence-as-a-trader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/increasing-your-confidence-as-a-trader","title":{"rendered":"Increasing your confidence as a trader"},"content":{"rendered":"

So you see that a trader really can make it. \u00a0He has stopped losing money, put up some good days, works hard, loves the\u00a0work, and is bound to getting better. \u00a0At this point I move to work on building his confidence. \u00a0But how do you do this?<\/p>\n

The worst thing is to applaud a high P&L day. \u00a0A good idea is to applaud a day he stays late and really does a nice job working on his game. \u00a0Applaud the trader working hard. \u00a0Applaud the trader making good trades. \u00a0Applaud the trader getting better at an element of their trading through concerted practice. \u00a0Guide the trader to build from their strengths. \u00a0If you are trading solo applaud and guide yourself then the same way I do for a new trader.<\/p>\n

I asked for just some quick thoughts from trading psychologist Dr. Jonathan Katz<\/a> of High Performance Associates<\/a> and below are his thoughts:<\/p>\n

The mantra is “how do I get better?”…..I always support their positive qualities while helping them refine and improve their work process, focus\/concentration and decision making skills. Confidence is an outgrowth of positive results….not always measured by P+L, but often by more subtle changes…..Two batters can go 0-4 in a game….1 striking out frequently on pitches out of the strike zone….the other with several hard line drive outs….same batting average for the day….but very different levels of “success” when looked at more closely. If the line drive hitter keeps swinging the bat well, the hits will come…..if the first hitter does not become more disciplined at the plate he will be in AAA before he knows it!!!<\/p><\/blockquote>\n

Mike Bellafiore<\/p>\n

Author, One Good Trade<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

So you see that a trader really can make it. \u00a0He has stopped losing money, put up some good days, works hard, loves the\u00a0work, and is bound to getting better. \u00a0At this point I move to work on building his confidence. \u00a0But how do you do this? The worst thing is to applaud a high P&L day. \u00a0A good idea … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[1769,1354,1771,1349,1499,1770],"class_list":["post-11263","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-dr-katz","tag-trading-coach","tag-trading-confidence","tag-trading-mentor","tag-trading-performance","tag-trading-psychologist","no-post-thumbnail"],"yoast_head":"\nIncreasing your confidence as a trader | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/increasing-your-confidence-as-a-trader\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Increasing your confidence as a trader | SMB Training\" \/>\n<meta property=\"og:description\" content=\"So you see that a trader really can make it. \u00a0He has stopped losing money, put up some good days, works hard, loves the\u00a0work, and is bound to getting better. \u00a0At this point I move to work on building his confidence. \u00a0But how do you do this? 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