Being a Confident Forex Trader in 2015!

I’ve shared a ton of my trade, set up and management techniques over the past few weeks, and today I would like to talk about something a little different, if you’ll indulge me a bit.

TL;DR = “Too Long; Didn’t Read” and I hope you override that tendency and continue on…

This isn’t theoretical because I see it in my chat room, in webinars and seminars, and feedback all the time over the past two-plus decades: how you sabotage your own trading.

Yep, sabotage. I did a big webinar on that topic earlier this year and you can watch the replay here. But before you head over there..let me share a few things that have made a huge difference for me and how you can implement them too.

Everything we get out of the markets (work, relationships, and yes, our life) is based on the potential for what we think can can accomplish. You can call it your “certainty.” Our certainty is what makes us study, analyze, pull the trigger on a trade, and manage that position. The more certainty, the more confidence we have. But confidence is not something we can fake. “Fake it til you make it” doesn’t apply when you’ve chased a market, blown a stop, and ignored your trading plan.

“So how do I get confident Raghee?” you ask.

You earn it. You earn it through a little something I call C+C=C.

Comprehension + Confirmation = Confidence

Think about it. And let’s use the example of a diet. It’s nearly 2015 and the most common New Years Resolution is to lose weight and get healthy. But how do we do it?

You will read a book or watch a video or buy an infomercial product and it will lay the groundwork for what you will try and *discipline* yourself through. Sacrifice. Hunger. Pain. More Sacrifice. Results? You sure hope so otherwise you will quit what ever plan you were following.

If the diet begins to work, does it require as much discipline? You’ll probably have noticed, it doesn’t. The results and rewards tend to make your resolve that much stronger. It’s no longer gutting through the diet and exercise. It becomes easier. You understood the plan, followed it, saw the results, and as a very natural process, your confidence grew with your progress. You understood the diet plan (comprehension) which gave you the ability to take action. The action you took (following the diet) confirmed your expectations (lose weight) and your confidence grew. That’s how confidence is built.

People say to me “You’re such a confident trader” and “You’re very consistent in your strategy” and believe me it’s not because I am disciplined. I do not believe I am that way by nature but I am confident because I understand my trading approach, and I have confirmed over and over again throughout the years that it works for me. Confidence in it is a natural result.

Traders who join my chat room do so because they see my success or like my trading style or heck, maybe they just like me. That’s part of comprehension. My success gives you enough confidence temporarily to take the time to learn how I trade.

But if in the time you are with me there is not enough of a grasp of what I do (comprehension), or if you don’t see me make profits quickly enough (confirmation), you will not stick around. Sure you can follow my Spreadsheet of trades blindly, but the first time you see a drawdown in your account you will run because there is no comprehension of what I am doing or why I am doing it. This is why my teaching you and your grasp of the concepts cannot come before you own your confidence.

Too many traders try to short cut this, but we can’t escape C+C=C.

And it takes time. How long? I think new traders have it easier. Less baggage, less to unlearn, and usually a ton of enthusiasm. Experienced traders or traders coming off a losing approach take much longer. Their confidence is often in tatters, they are riddled with doubt and mistrust and can override that just long enough to try something new. That’s a tough uphill climb, for both student and teacher.

Whatever it is that you want to master in 2015, please keep the C+C=C in mind. It will allow you to override our natural human tendency for mistrust and doubt and fear. (That lizard brain!) It will give yo a chance to take action, see results, shake up or strengthen your beliefs, and reach your potential.

…and for those of you who skipped right to the videos, that’s ok. We’re still sympatico.

Questions? Comments. Leave them here at the blog!

Follow Raghee Horner (aka Queen Cleopiptra) into her kingdom of forex and futures. Get the best techniques and tactics for trading currencies, futures, and options. Sign up for her free video newsletter today and get the invitation for for all her free webinars here.

  • duniquez

    I agree with pretty much all that you say,I have found this common when reading your posts, but I think you should point out that people following blindly into your positions are just gambling.. Albeit a good gamble given your record but its still gambling 😉

    Good luck for 2015 ^^