life satisfaction<\/strong>? Not just financial reasons?<\/p>\n\n\n\nFulfilment and life satisfaction occur when you\u2019re confident. So if trading feels stressful and emotionally exhausting, it is either not for you, or you lack confidence. And my guess is\u2014if you\u2019ve been at this for some time, the latter is the case. Agree?<\/p>\n\n\n\n
Trading is challenging and competitive, so you\u2019d better feel confident. Otherwise, why put yourself through it when you don\u2019t experience the satisfaction of being self-assured in your trading?<\/p>\n\n\n\n
How you build confidence<\/h2>\n\n\n\n It\u2019s surprisingly more straightforward than people are aware.<\/p>\n\n\n\n
And to bust some myths, you don\u2019t need \u2018nerves of steel\u2019 or \u2018an affinity for taking risks\u2019. Fun fact: the best traders are very risk-averse.<\/p>\n\n\n\n
Consider this<\/h2>\n\n\n\n While the trading above is from yesterday, I can show you the same trading sequence from many previous trading days spanning years. I know this trading scenario deeply.<\/p>\n\n\n\n
I hear some of you say, \u201cI know a particular setup, but I\u2019m not confident taking it.\u201d<\/p>\n\n\n\n
And to be blunt, you have no right to be.<\/p>\n\n\n\n
That\u2019s because if you\u2019re using some technical analysis setup at best, it\u2019s giving you random results\u2014just one of the many ways the majority trade plays into the hands of the minority.<\/p>\n\n\n\n
By contrast<\/h2>\n\n\n\n The easiest way to win<\/strong> again at trading is one where you\u2019ve won many times before\u2014because you excel at what you do more of. Correct?<\/p>\n\n\n\nReferred to as a playbook (of strategies), it sorts out where and when you have a legitimate competitive advantage to trade. It is built from understanding the trading game\u2019s deceptive tactics\u2014how real opportunities are initially disguised to catch out the unsuspecting majority.<\/p>\n\n\n\n
An armoury of playbook trades is trades you internalise. They become easier to trade in real time because there\u2019s less to think about\u2014just spot them and act.<\/p>\n\n\n\n
Is the following counter-intuitive?<\/h2>\n\n\n\n The heavy lifting isn\u2019t in buying and selling. It\u2019s in internalising playbook trades. Let\u2019s ponder that point for a moment.<\/p>\n\n\n\n
If the heavy lifting is already done, buying and selling doesn\u2019t feel<\/em> threatening, uncomfortable or dangerous. Make sense?<\/p>\n\n\n\nYou gain confidence<\/strong> because you\u2019ve internalised trades you WANT to take. Trades you ENJOY taking. Trades, YOU KNOW, take profits out of the market.<\/p>\n\n\n\nPutting on my mentoring hat for a moment: Once you\u2019ve learned how the game is played and how the money is made, your next step is to see playbook trades play out in the real-time market. You\u2019ll hear and see an explanation of what\u2019s happening to assist your comprehension.<\/p>\n\n\n\n
At this point, take your notes and observations and start internalising by trading that sequence using recorded playback\u2014a historical simulation of what occurred. Slow it down, pause to note key observations, etc.<\/p>\n\n\n\n
It\u2019s easily the quickest way <\/strong>of internalising trades to develop confidence. So, it\u2019s no surprise that it plays a significant role in the curriculum at professional trading firms.<\/p>\n\n\n\nAnd for fun\u2014because trading can be fun<\/strong>\u2026<\/p>\n\n\n\nHere is a sequence of trades from yesterday.<\/p>\n\n\n\n
Same MO\u2026 playbook trading.<\/p>\n\n\n
\n
The real culprit? A lack of confidence. But where does confidence come from? Doing more of what feels like\u2026 Let me share how it feels through yesterday\u2019s trading. First, do you see the trades below from Wednesday\u2019s session? Buying, adding, taking profits and then exiting completely\u2026To flip to the sell side for a quick scalp\u2026 Before re-engaging […]<\/p>\n","protected":false},"author":1,"featured_media":1639,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1638"}],"collection":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1638"}],"version-history":[{"count":1,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1638\/revisions"}],"predecessor-version":[{"id":1640,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/posts\/1638\/revisions\/1640"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=\/wp\/v2\/media\/1639"}],"wp:attachment":[{"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thetalabmarketing.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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