How to stay confident and believe in yourself as a trader
Today I am super inspired to write about the psychology of successful trading. We definitely need to address this as a lot of success comes from your personal happiness. Vice versa, if you are constantly being stressed out, your chances to succeed are diminishing.
How many times have you heard “don’t quit your dayjob, work , work and work”. Until you die right? Well it doesn’t have to go that way. You want to be independent, be yourself and actually live your life. There is a subtle difference between trading and other jobs. For majority of the jobs, working more means being more productive. Working more could make you become an “employee of the month” and your boss thinks more of you. Or you might get a salary bonus if you had extra hours at work. However, in trading the more you work the less you make. You should never ever fall into a trap of overtrading. Too much trading costs money, raises your tax bill and can reinforce bad habits. No matter how happy you are because you have made a winning streak, stay away from trading too much.