Yesterday I sent a quick message to my colleague saying thanks for the conversation we had on Friday afternoon.
My exact finishing words in the WhatsApp message were “the important thing is whether I will actually do anything about what you said or whether I will just keep on doing the same”. Anthony Robbins often says that you can change your entire life by making a new decision.
I guess I may have achieved less than what I could have, had I had more self-confidence in the past. However the past is the past, it is gone, so I can’t do anything about it, except learn from it and do better in the future. It seems the trading is finally bringing this point to the surface and encouraging me to work through it and improve!
Well, I have made the decision that I am going to increase my self-confidence. Applying the 80/20 principle, a quick Google search seems to have come up with a practical small list of steps that i can take to increase my self-confidence.
In this situation, the focus is going to be on increasing my self-confidence in the area of trading. I will use two main tactics:
WIKI-KNOW HOW “CRASH-COURSE”
The first lot of steps, thanks to Wiki-Know How, are as follows:
Step 1: Identify my negative trading-related thoughts. I will write all of them down as I have them in this coming week.
Step 2: Turn my negative trading-related thoughts into positive thoughts. For each negative thought I will create a corresponding positive thought.
Step 3: Refuse to let negative thoughts occupy my mind more than positive thoughts. Some examples from earlier this year here.
Step 4: Maintain a positive (social) support network.
Step 5: Eliminate reminders of my negativity. I need to identify what these are.
Step 6: Identify my trading-relevant talents.
Step 7: Take pride in myself.
Step 8: Accept compliments gracefully.
Step 9: Look in the mirror and smile.
I will visualize being a good trader for 15 minutes twice a day. Once at the start of the session – once about 2/3rds of the way through the session.
This will be similar to the manner in which athletes engage in visualization their performance.