Most people enter trading with the idea that they are going to make a lot of money. In other words, they have high expectations.  There is nothing inherently wrong with that idea. In fact, we need motivation, and making a lot of money can be a great a motivator. Unfortunately, many traders also have low self-confidence. And are not profitable or not trading at the level they desire or are capable of.

This is a fairly common condition that can be expressed in the simple equation:  High Expectations + Low Self-Confidence = Poor or Inconsistent Performance.

The new formula becomes: Focus on Process Goals + High Self-Confidence = Better and More Consistent Performance. (more…)