Confidence Building… (within your Betfair trading)
[14 May, 2014]
You’re not confident; so you open a trade, it bounces back against you, in a blind state of panic you exit. Only to find everything you just anticipated happens.
Frustrating isn’t it?
We’ve all been there one time or another. It’s just part of the game we play… Like most things in life, if you’re not confident (or just don’t believe it can be done) the chances of success are always significantly lower.
So surely the first priority should be to gain some confidence within the markets, right?
There are plenty of ways to do this, the first that springs to mind is to acquire a better understanding of the situation. Although it doesn’t have to be, and even if you know everything you’ll need the confidence to pull it off!
So I put this clip together just the other day for you all… it’s something I started to do when the frustration drives me up the wall!
I remember probably a couple of years ago now posting about a ‘vicious circle’ . This is one of those little known ways to ‘break the cycle’. Embracing a positive and optimistic mindset brings huge benefits in the world of trading.
If you’re tradings going through a bit of a rough patch just now; have a look and try to implement this method into your game.
Once you start to build on your confidence, things start to fall into place. Instead of it being a ‘vicious circle’ its more of a ‘profitable circle’!
There are other ways of getting yourself into the right frame of mind. I’ll be looking at add more in the future, promise!
Trading psychology is huge when it comes to making money in Betfair’s markets, you simply can’t afford to ignore it!!
Having the right level of self-control, confidence and knowledge is like gunpowder to your profits… Without all the ingredients though, it ceases to be effective.
Related Article: Controlling Your Trading Fears