Wednesday, 19 August 2009

Confidence is key

Confidence is so important when your trading. It can mean the difference between a profitable day and a losing day, even if you have all the other skills required to be a good trader. Think about it ... surely you don't believe that the price movements in the betting markets are effectively random and out of your control. That's simply not the case and one of the big mistakes that beginners always make. Be confident and use the power of the mind to make the markets go where you need them to go!!

When I'm confident I make money and when i'm not I lose money. Simple as that.

Oh hold on ... maybe that should be:

When I'm making money I convince myself it is due to confidence and when I'm losing money I blame lack of confidence rather than admit that I'm simply putting myself at the mercy of a random process.

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