Only way to become good at trading is by enhancing your self efficacy beliefs about trading

There are 5 ways to do that in order of importance

mastery experience :

The first and foremost source of self-efficacy is through mastery experiences. To gain mastery experience you need to complete hard task that challenges you successfully . Finding right anticipation setups after running a scan and see them work will build mastery experience. Or going through Top 25 stocks and anticipating a b/o or b/d and entering it ahead of time will build it. Or identifying right 3lynch candidate or weak structure short will build it.

vicarious experience :

watching others do it successfully. The second source of self-efficacy comes from our observation of people around us, especially people we consider as role models or good traders. Seeing people similar to ourselves succeed by their sustained effort raises our beliefs that we too possess the capabilities to master the activities needed for success in trading . That is why seating in a cave is unlikely to make you successful but actively participating, watching , and interacting with other traders will.

verbal persuasion is third source of self efficacy beliefs.

Being told you too can be successful in trading and make tons of money, itself can change your beliefs. Being persuaded that we possess the capabilities to master certain activities means that we are more likely to put in the effort and sustain it when problems arise.

visualising yourself behaving effectively or successfully in a trading situation.

Imaginary experience is as good as real experience in building self efficacy . If you understand that and use visualisation techniques , your self efficacy will improve.

positive emotional and psychological state . positive emotions can boost our confidence in our skills. Getting yourself in right mood at start of trading day is essential for that.

If you understand and work on these things you can make millions in the stock market.

And the best part of this is that all these things are under your own control.

Best site to learn to trade

If you are serious about your trading and want to build an enduring edge, the Stockbee Member site might help you.

Members tell me they have tried a lot of things before coming to my site, and it has offered them the most extensive and detailed methods to swing and position trade. Members range from very experienced traders to novices.

No advertising, no hard marketing, no promotions, no free offers, no affiliate marketing, no incentive to other bloggers to promote the site, no constant tweets self-promoting the site, and no tall claims. Every member comes through word-of-mouth recommendations from existing members.

As a member, you will learn the basics of swing trading, momentum investing, growth investing, and risk management. You will learn about Stockbee Momentum Burst breakouts, Stockbee Trend Intensity Breakouts, Stockbee Episodic Pivots Breakouts, Stockbee Lemonade Strategy for 401k, and many other member-shared methods.

You will learn how to set up your own scans, how to select the right kind of stocks, how to set up stops, when to enter, when to exit, how much to risk, how to track your trades, and all other details about trading.

You will learn about developing your own methods and not relying on others for trade ideas. Develop your own edge. Once you develop your own method, you will have a lifelong profitable method.

The site gives you an opportunity to interact with some of the most successful traders and learn from them about their trading methods. It is a vibrant community with members from different backgrounds and experiences willing to help each other. Members have shared their methods, scans, software, backtests, and market insights.

Every day, the emphasis is on continuous learning and upgrading of market knowledge and setup knowledge. The members range from hedge fund employees, financial advisers, active swing traders, investors, and new traders.

You will see that many trading bloggers have been using my market timing methods, scans, and chart templates. They have developed their own methods based on my methods.

Almost every member comes through a recommendation of some of the leading trading bloggers and trading sites. 80% or more members continue to be members for more than 3 years. Most tell me that they stay on because every day they learn so much from the members' site.

If you are looking to develop your own trading strategy, the membership site might be for you. You have to be willing to put in the effort to build your own method. There are no silver bullets offered on the members' site. Every method, every scan, every nuance is detailed, and all possible help is offered to design your own method.

404

Recent Articles