At times, as traders we may lose confidence in trading and question whether we can “make trading work”, especially if you’re new to trading. When you experience drawdowns, it can be tough to stay the course. Perhaps, you’ve thought “is this something that I really want to do?” or “is this worth my time and money?” or “will this get me to where I want to be?”

In this episode of the 2Traders Podcast, Walter and Darren talk about how confidence can determine your ability to become a consistently profitable trader and the role of trading confidence in getting away from potentially damaging outside influences and critics.

According to Walter, confidence can be subtle and often outside of your awareness. Darren shares some tips on how you can make confident decisions and clear negative thoughts.

Also, you’ll find out how you can turn a negative into something that can open new perspectives for you.

Download (Duration: 16:55 /19.3 MB)

In this episode:

01:13 – feeding fear

02:27 – a subconscious thing

04:34 – written plan

06:16 – handwriting versus typing

07:35 – negative influences

09:03 – a difficult position to get into

10:47 – deal with it

12:42 – spinning your wheels

14:06 – how to control your thoughts

16:15 – a different perspective

Tweetables:

Acknowledge that critics can’t have any influence on you. [Click To Tweet].

You need to be confident with your decisions. [Click To Tweet].

Write a plan slowly and focus on your goals. [Click To Tweet].

Download The Full Episode 52 Transcript Here

Darren: I think if I had someone who is being negative about my trading, I would definitely really struggle with that and I’ll honest with you, I don’t really have the answer…

Announcer: Two Traders, Darren and Walter, pull back the curtain on profitable trading systems, consistent money management, and profitable psychological triggers. Welcome to the Two Traders Podcast.

Walter: Welcome to the Two Traders Podcast. Darren is on the line. How are you today, Darren?

Darren: I’m really good. Thanks, Walter.

Walter: Today, we have this question that’s coming from a listener who says that he has, essentially, allowed his inner critic and other people close to him including his partner, boss, etcetera, affect his confidence. Basically, his confidence in his ability to be a consistent profitable trader.

He said that this has a result, sort of feeds in to his fear of being wrong. The question is what do we do about these as a trader? What can you do to help get over either outside influences — your boss, your partner, people close to you — sort of feeding that fear of being wrong?

When I think about this, the first thing that comes to mind, maybe just because I happen to spent ten years studying psychology, but I think of those studies where we know from funct...