Does your confidence get shaken with a few losing trades?
If it does, then I know how you feel. It used to happen to me too.
It is amazing how quickly the temptation to start second- guessing your system can get really strong.
What really stinks about it is when you’ve got a good system that you know will make you money if you can just maintain your discipline.
Having the confidence to stick to your system is the big key, so where can you get that confidence when you need it?
Here’s what a recent client had to say in this email that I just received the other day:
“Brian,
Just a note of thanks to you for the TPA.
I have been back testing a new (to me) system and plugging the results into the analyzer. The information that it gives me is vital to understanding what this or any system can do.
It is giving me a confidence in my system that otherwise might have been shaken by a few small losses.
I have to admit, when I first got this I thought it was a cool ‘toy’, and figured I’d use it some time to track trades or something. Little did I know it would prove to be such a powerful learning tool.
In fact, I can’t imagine successfully trading without it now.
I also have to admit that I didn’t really ‘get’ everything you were talking about regarding psychology and how proper planning helps you to be better prepared mentally for the ups and downs of trading, but since I actually began to make use of this, it sort of pulls everything together.
In fact, I think I’ll go back and re read everything again and see how much I really missed the first time around!
Thanks again for something that really is helpful.
Richard Daniels
St. Louis, MO”
To see for yourself how the Trading Performance Analyzer can help you keep your confidence when you need it most, go to
http://insideouttrading.com/tpa/
The videos on the page show you how easy it is to use.
I hope this helps you in your trading pursuits!
Cheers
Brian
P.S. If you have occasions when you’re confidence could use a boost, then don’t wait until the next time it affects your trading account.