It’s time to stop looking for the “Holy Grail” – an edge, strategy or system so perfect that it can’t fail. You will never find it, because it doesn’t exist “out there”.
We chase this Holy Grail, because we think it will allow us to trade confidently and successfully. In reality, it’s the opposite: when you give yourself permission to trade well, you find the grail within.
Nobody is going to hand you a golden ticket, and nobody is going to succeed for you. You need to learn to trust yourself.
Confidence can’t be borrowed, bought or stolen. The ability to be strong and self-assured in the markets comes from experience, mindfulness and discipline.
If you don’t believe in yourself, there is no guru, system or piece of technology that can truly help.
How to gain confidence?
There is no panacea or quick fix.
It’s about hard work.
You need to put in the hours of “good” practice.
In this highly complex and uncertain game, there is no substitute for experience.
- Learn to take the knocks and keep on coming back for more.
- Don’t get disheartened by losses.
- Don’t keep flip-flopping on your strategy.
- Plan in detail what you are going to do each week, and be disciplined in following your plan.
- Trade less, not more.
- Be courageous in your decisions.
- Follow good processes and stop trying to make individual trades work.
If you do this, you will be surprised how quickly the confidence will come.
About the Author
Sam Eder is a currency trader and author of the Definitive Guide to Developing a Winning Forex Trading System and the Advanced Forex Course for Smart Traders (get free access). He is the owner of www.fxrenew.com a provider of Forex signals from ex-bank and hedge fund traders (get a free trial). If you like Sam’s writing you can subscribe to his newsletter.