Confidence is essential to success in trading. But there’s more ‘vampires’ trying to suck the trading confidence out of us than ever before.
These vampires come in the form of fakes often peddling a lifestyle and a quick fix over what’s actually needed to win. They’re usually standing next to the lambo and pretending to embody trading confidence.
You’ve seen them before. They’re wearing their “confidence” as a badge, a symbol, thinking this compensates for their true sense of lacking?
The worst part, people are feeling pressured to compare their lives to what they see from these so-called “influencers” and buying into what they want you to believe. That you are lacking somehow!
Real confidence requires a new approach.
One that goes beyond the “fake it till you make it!” mentality and moves toward something more authentic, more grounded and more holistic.
We know it when we see it!
Confidence is infectious, both for the good and not so good.
So-called experts continue to tell us that confidence can be hacked, acquired, and learned if we just commit to talking, acting or looking a certain way. Don’t believe it!
Like anything worth achieving, there is a process.
Building confidence is not an in and of itself. Once you realize this, you will stop beating yourself up for having moments of self-doubt. You will be able to work through setbacks and emerge stronger.
HERE ARE 4 WAYS YOU CAN GET A TRADING CONFIDENCE BOOST:
1) Don’t Overcompensate for What You’re Lacking
We scroll through Instagram and our thoughts and feelings may be influenced by what we consume.
It’s important to remember that a sense of lacking is going to mess up your trading by comparing yourself to others.
Social media magnifies the negative impact of social comparison. It’s hard for anyone whose going through a tough time to see past the cookie-cutter perfect world portrayed on social media. No one really knows what is happening on the other side.
But I’ll go into that further in another post.
The main thing before trading, posting, sharing is to ask yourself the following questions:
Is this something that embodies YOU?
Is this something you want to post, share, or are you trying to be like someone else?
Just taking that quick second to ask yourself that question can help you identify areas where you are lacking confidence, and help you dig deeper into what makes you feel good and genuine.
Be aware that unfortunately there is always going to be a segment of the population ready to capitalize on the weaknesses of others that they themselves feel. Don’t let them take advantage of you! By building on your self-confidence, they won’t steer you off your own trading course.
2) Believe You Are Enough
Confidence is acquired through a sense that we are enough and that we can position ourselves to do what we want to do.
It enables us to feel how we want to feel, and be who we want to be in this world.
When we’re confident we feel engaged, purposeful, and inspired.
Without it, we feel rudderless, wary, and even fearful.
Confidence doesn’t compensate for good old fashioned work. Work on ourselves and what we love to do.
There’s a mirror exercise that successful business people, politicians, athletes, etc. do every morning that helps them build their confidence.
What to do?
Stand in front of a mirror (the bigger, the better).
Straighten your back and take a deep breath with your chest. Look yourself in the eyes confidently.
Put a light smile on your face and start talking to your reflection. Say things like “I believe in myself!”, “I am enough!”, “I know what I want and aren’t afraid to get it.”
Continue breathing as deep as you can and generate only positive statements and thoughts.
Go on like that for at least 5-10 minutes.
Make this part of your daily routine and you’ll see positive results!
3) Rise Above the Haters and Naysayers
I recently spoke to a friend who mentioned that he had come to the realization that he no longer felt the need to “prove himself” through materialistic means. We both enjoy the “finer things in life,” they just don’t define us. You need to ask yourself the following question:
Are you trading to acquire “things,” or are you trading to acquire a lifestyle?
If you’re trading to acquire a lifestyle then you’re looking for the freedom to live your life as you see fit. And yes, this can include nice “things.”
This goal is a big deal because very few people get to this point in their lives. It takes a lot of introspection, and true self-confidence.
It’s the ultimate realization that how you spend your time is more important than how you spend your money.
Confidence also helps protect us when the haters come out or people try to talk you out of your goals and dreams.
That’s why working on building confidence matters so much.
We aren’t just talking about style and appearances. We’re talking fundamentally about who we are, authentically at our core.
It means living our best selves.
4) Face Your Insecurities
Even when we’re confident, we will experience insecurities, vulnerability.
The difference is when you’re faking your confidence you are hiding parts of you that need to be addressed.
When you face your insecurities you’ll actually gain more confidence, enhancing your quality of life.
When you realize building self-confidence is a process, you can take the necessary steps to become confident in your process and feel no need to fake it.
You do the work required to build on it — you work on your craft, invest in improving your skills, stick to or reevaluate your goals.
And you’ll see that by working on building confidence, each day it gets better! By embodying who we truly are, we relinquish control and concern over how others perceive us. This, to me, is the definition of freedom!
By following these steps and by committing to the life-changing process of simply being ourselves, you can become truly confident. No Lambo required…unless, of course, it’s “sooo you!”
I hope you enjoy a confidence boost this week.
For more great ways to improve your trading mindset, check out MARA’s Trading Mind Decoder.
Follow Beth on Twitter: https://twitter.com/eamarconi
obsessed with investing, lover of design, addicted to running.