Preface

 

 What makes an F1 racing champion? Is it the auto? Is it the technology that went into erecting the machines? 

No, it's the motorist. The motorist's confidence around corners and tolerance in the face of a dispiritin challengesge by other motorists make as a champion. also, it's the dealer that makes the difference in options trading. 

It's the stock or options dealers' confidence in their chosen methodology and their tolerance in the face of daunting price changes that makes a champion stock or options dealer.

Trading Confidence and Trading Discipline are the most important aspects of trading psychology that make millionaire stock or options dealers. They're also the main reason why so numerous stock and options dealers fail and break the bank.

 

 Trading Confidence

Trading confidence is an internal confidence banking account in every dealer and trading discipline determines if you deposit or withdraw from it. 

Trading confidence is what enables every stock and options dealer to execute trades according to their chosen methodology confidently and to stick to the game despite losses knowing that they will ultimately make further triumphs than losses. 

Trading confidence is a banking account which you can either deposit or withdraw from. Each time you lose pluplutocratsou withdraw from your trading confidence and each time you make plplutocratsyou deposit to your trading confidence. 

When your trading confidence is zero or void, you'll find yourself scrupling before every trade while imagining the pain if the trade turns out a clunker again. 

You'll have insomniac nights and will rush out of trades at the veritably first sign of peril, making gratuitous losses. When that happens, it's time to go back to paper and rethink the way you have been trading. 

In faYout have to break your trading account balance to have your trading confidence void and a void trading confidence always leads to a void trading account. 

Again, every time you win plutocrat with your chosen methodology, you deposit to your trading confidence bank, feel confident and happy when placing trades, and don't horrify when trades go bad.

 

 Factors Affecting Trading Confidence

A major determinant of your position of trading confidence is the quantum nature of the plutocrats that you have to trade with. 

The further plutocrat you can go to lose, the advanced your original position of trading confidence. 

Stock and options dealers who can go to lose only veritably little plutocrats would generally have a veritably low position of trading confidence as every loss takes a significant bite out of their trading confidence bank. 

Again, you need not lose all your plutocrats to lose all your trading confidence. Some stock and options dealers no longer feel confident enough to trade when their accounts go down by 30, while some reach that position of confidence void only when their accounts go down by 70. 

The nature of the plutocrat you have to trade with also determines your starting trading confidence. However, also your position of trading confidence would be veritably high If you're trading with redundant plutocrats which you don't need. Your

trading confidence could still be high indeed if you lose all that plutocrat. Again, if you're trading with espoused plutocrat which you need to pay back in investiture and with interest, your trading confidence would be extremely low as every loss makes it harder for you to pay the plutocrat back.

 

 Alas, there's no ideal and empirical system of calculating your position of trading confidence, and utmost stock and options dealers only understand it when it goes void.

At this point, it's clear that you need to win plutocrats to make up a strong trading confidence banking account and to win plutocrats, you need to follow a proven and successful trading methodology. 

A losing system will ruin your trading confidence in no time no matter how important you start with.

 

 Trading Discipline

Once you're sure that you have a proven and successful system, you'll need Trading Discipline to make sure you stick to the rules and trade only when entry conditions are completely met. 

Without trading discipline, you'll end up spoiling any successful methodology, leading to a pullout of your trading confidence.

 

 Trading Discipline consists of tolerance and a Calm, Objective mind.

Every trading methodology trades only when specific setups or rules are met. Without trading discipline, you won't have the tolerance to stay for similar setups or rules to be completely met before trading, and every time you break the rules, you increase your odds of losing and every loss withdraws from your trading confidence. 

thus, don't make" fun" or" experimental" trades by compromising rules as losing under similar conditions does withdraw from your trading confidence as well.

 

 Trading Confidence & indifference

A distinction must be made then regarding trading confidence and indifference. indifference comes not from high trading confidence but from a complete lack of trading discipline. 

indifference always leads to a quick and complete void of trading confidence, so, be certain to understand the difference.