|
|
|
|
|
|
|
The key to controlling anxiety is to focus on your methodology. The more you can concentrate on a sound strategy and proven tactics, the less anxious you will feel. As we develop your methodology in later classes, these anxious feelings should dissipate. |
|
|
|
|
|
|
|
|
Let's talk about confidence. You have certainly heard that confidence is important to success as a trader. But what is confidence? |
|
|
|
|
|
|
|
|
Confidence is the expectation of a positive outcome. (Fear is just the oppositeit is the expectation of a negative outcome.) |
|
|
|
|
|
|
|
|
Confidence is knowing that you will have a positive outcome instead of thinking, wishing or hoping. |
|
|
|
|
|
|
|
|
Confidence is conviction, not arrogance. |
|
|
|
|
|
|
|
|
Obviously, confidencethis expectation of a positive outcomehas its roots in a picture of success. This picture could have been experienced before through successful trades with your methodology. Or, this picture could be clearly visualized because your preparation has been so thorough. |
|
|
|
|
|
|
|
|
Finally, we want you to think about, and to begin to work toward, developing a positive state of mind. Top trading is the result of competence and the ability to control one's state of mind. |
|
|
|
|
|
|
|
|
Your state of mind is simply how you are feeling at the time. |
|
|
|
|
|
|
|
|
The positive state of mind is optimistic, resourceful, calm, and focused. The result is a high level of performance. |
|
|
|
|
|
|
|
|
The negative state of mind is anxious, fearful, angry, uptight, unfocused, and confused. The result is a low level of performance. |
|
|
|
|
|
|
|
|
How valuable is a positive state of mind? Answer four questions: |
|
|
|
|
|
|
|
|
1. How much money have you lost because you traded with a negative state of mind? |
|
|
|
|
|
|
|
|
2. How much more would you make if you always trade in a positive state of mind? |
|
|
|
|
|