If You Struggle With Hesitation, Read This:
Hesitation, feeling fearful in entering and exiting it's a big warning sign, and the reason why is pretty simple...
The answer: You don't fully trust the process.
Today I am going to show you simple methods on how to finally start trusting the process.
What is the driver of trusting the process?
The key to it is to create 'evidence'
Once you begin to see results confidence naturally becomes a by-product.
But first I want you to just keep something in mind:
Every single trader has gone through this and they have overcome it the reason is that they realized that they had to implement the right steps to build their confidence in their process.
You are simply not aware of it even though it may seem glaringly obvious after reading this.
So let's get into it,
How to build Confidence?
It all starts with focusing on the process.
To do that you need to remove the focus on money.
When starting out you should be backtesting then using demo for a period all of which contribute to gaining some confidence in your strategy then you move on to start live trading but the key in this stage is to still 'risk small'
Because if you don't and decide to go full risk after demo you automatically cloud your thinking from process-based to money focused.
The tweet says it all. When you go live you need to have a way of still keeping your focus on the process and like I said the key to this is to start risking small so you are not too bothered if a trade loses.
Remember you are still in the 'testing phase' when you go live because you have still not gained the emotional experience for live trading yet therefore you still won't be 100% confident.
''The key is to start small and gradually build your confidence with experience.''
Experience is the crucial factor here.
But if you're starting out with a strategy you simply don't have any yet.
So you need to build experience in a careful way that produces positive results.
And to do that you need to gain 'evidence'
This is the process:
Risk small > Experience > Evidence > Confidence
With the experience of following the correct steps and then seeing the positive outcomes of these steps you then create the confidence, you have desperately been craving.
And to do that you need:
- Positive results from execution
- Positive results from managing risk
- Positive results from a larger sample size
What confidence comes down to is seeing the results
Because you can never fully trust something you never produced. It's a paradox I know, but you just need a little faith.
And the steps can be made easier by just not going in full blast with your money instead demo, live trade with very small risk, and build up to the results.
Every action that you follow and then seeing the positive results of it are what create confidence and trust but the problem is you will only see these positive results after a larger sample size of trades.
And this is where most are going wrong, they are not allowing themselves to have a safe environment to learn the psychological side of trading. It's a balancing act that must be finely tuned...
Recap and breakdown of what you need to do:
The steps to create confidence:
1. Risk Small
2. Focus on the process
3. Gain evidence via positive experiences
4. Scale gradually as results show
Grow into the trader you want via the positive experience of following the process.
It's a slow process...
But the slow painful work is what actually creates the desired confidence.
Just understand you need to keep your risk small and accept that u need to 'build' up your confidence.
And it really is that simple, it's a complicated secret enigma that only 1% know.
It's simple don't rush the process instead embrace the process. Start small and build confidence carefully through experiencing positive results.
Enjoy your Sunday!
Want to learn more?
Check out my:
Rule-Based Price Action Course
I go into much greater detail and show you my step-by-step blueprint that I used to become a consistent trader.
Tap the 'I Want This'' button below to get started now!