What is confidence?

Confidence

/ˈkɒnfɪd(ə)ns/

noun

The feeling or belief that one can have faith in or rely on someone or something.

In other words, confidence is an expectation that your plan will work.

• Expectation is a double-edged sword in trading. You'll be in for a harrowing time if you learn a concept and automatically expect it to work.
• It then begs the question, how do we build up on our confidence in trading at an appropriate, timely manner? We have to re-calibrate our expectations.

Expectation /ˌɛkspɛkˈteɪʃn/

noun

a strong belief that something will happen or be the case.

So now, what can we do to re-calibrate our expectations?

• Expecting something to work after learning it for the first time is illogical.
• Go back to the time when you were a baby. Did you expect to learn how to crawl, walk, and run in an instant? No right? It took time and months of guidance from your parents.