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FEAR

  
  Education
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Fear is the main source of superstition, and oneof the main sources of cruelty. To conquer fear is the beginning of wisdom… Bertrand Russell

Fear is a misunderstood emotion, and one that gets a pretty bad rap these days. We owe our survival as a species to the hard-wired fear that protected and kept us safe from physical threats for hundreds of thousands of years.  But what about the litany of fears that plagues traders every day? Fear of losing, of watching profits disappear, making mistakes, missing out, taking profits too soon…the list goes on.

Perhaps the larger question is this: If there is so much fear and almost every trader feels fear, why do millions of people continue to trade?  The answer lies in the way that fear is perceived. 

For many, fear is a predator that is constantly lurking, sneaking up on them and ready to attack at any moment.  In this brain set, they are always running away from fear, crouching in a corner or looking for a safe place to hide. Fear blinds them to opportunity in much the same way that greed blinds them to danger.

 Fear is that little darkroom where negatives are developed… Ferdinand Pritchard (more…)

How can you enhance perceived self efficacy

  
  Education
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Self efficacy is built through four processes:
Mastery experience
Role modelling
verbal persuasion
psychological cues.
These four are in order of importance. Most critical way to build self efficacy is through a mastery experience.

Mastery experience is basically a successful experience of mastering a task. Mastery experiences happen when the learner has reached the point where they understand the content knowledge enough to perform a task on their own or masters the task. It happens if the learner goes in to sufficient depth on material he trying to learn. It happens as a result of immersion in a particular field or task. It happens with plenty of prior exposure to the content.

At some stage the learners are able to interpret the results of their actions and use those results to develop their own capability to engage in future actions or tasks. Then the learner become auto learners. They are able to participate in tasks on a first hand basis with little or no assistance from outside influences. When you experience a intense mastery experience you get a feedback on your own capabilities. Long and sustained efforts are required for mastery experience.  (more…)
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