Start trading with confident.

[mehro]

If that is the kind of confidence that you want to have in your trading method, then keep reading.
Backtest It. Not every trading method can be backested. ...
Demo Trade It. Another thing that you can do is trade your method in a demo account. ...
Trade It In A Small Live Account.

[Pak3000]

g haan yeh baat bilkul threak hein k hum jab be koie kaam krey to humen cahyye hein k hum zayad sy zayad pany andar confident ko apida kre tak k wo kaam hum sy zayda sy zayda acha ho pain ur hum zayda acahy sy earing be kar saky

[trinugroho]

I think confident can give us good profit. And without confident i think you can't make good profit from this business. Because confident can give your right trend. which can give you good profit from this business.

[Mureedabbas]

3 Simple Ways to Develop Confidence in Trading Forex

When you don't have confidence in your trading system, it is the worst feeling in the world. It seems like you have no purpose and you question your worth as a trader.

Maybe even as a person.

Every single trade looks like it will lose money and you may even contemplate jumping back on the Trading Silodrome again. Even normal drawdowns affect you deeply and you second guess every trade setup that appears on your screen.

So what is the solution?

The best solution will be different for everyone, but here are three simple ways that you can use to start building confidence in your trading method. It doesn't matter if you learned it from a course or from a mentor or if you developed it yourself.

As Walter Peters says in his book, you want your trading to become boring. You know that you will win some and lose some, but on balance, you will come out ahead.

If that is the kind of confidence that you want to have in your trading method, then keep reading.

1. Backtest It
Testing a system

Not every trading method can be backested. Strategies that rely heavily on fundamental factors or trader intuition usually cannot be accurately backtested. But trading methods that primarily use technical entries and exits can be backtested.

Using historical data to see how well your trading method performed in the past is a great way to build confidence in your trading method. If you know what to expect from your trading strategy, you will be better equipped to handle drawdowns.

The downside is that since you do not have real money on the line, you will be missing the psychological stress element of trading. But that can also be a good thing.

When you examine a trading method without any emotion, you can get a clearer picture of its real trading results. That in itself can give you confidence that the strategy is sound. Then it is up to you to execute the strategy as well as you can.

So if you want to start backtesting, you can click here to read the tutorial.

2. Demo Trade It
Another thing that you can do is trade your method in a demo account. This will help you build your confidence in taking and managing real-time trades.

As you probably know, almost all Forex brokers offer demo accounts. But not all demo accounts are created equal.

When choosing a broker to demo trade with, consider the following factors:

How long do they allow you to keep your demo account open? Having to sign up for a new account every 30 days can be a hassle and can cause you to lose momentum.
Do they allow you to adjust the size of your demo account to make it more realistic to what you will be trading? It might be fun to trade a $3,000,000 account, but it doesn't help if you will be trading a $5,000 account with real money. Try to make your demo conditions as similar to your real conditions as possible.
Demo trade with a broker that you will probably open a real account with. This will allow you to learn the little tricks of their platform and give you even more confidence.
Do they offer smaller lot sizes? Over trading is a common cause of large trading losses, which in turn cause more trading losses. Make sure that you are trading lot sizes that allow you to take the correct amount of risk on every trade (usually 2% or less).
When taking the factors above into account, really like using Oanda for demo trading. They allow you to keep your account open forever and they make it really easy to adjust your account size and lot sizes.

But only trading play money can start to seem a little pointless. So once you have worked out all the kinks in your trading method and you understand how to use your broker's platform, you can move on to live trading.

3. Trade It In A Small Live Account
After you have successfully tested your method with fake money by backtesting and demo trading it, you are now ready to put some real money behind it. But don't make the mistake that most people make by putting a ton of money in your trading account in the beginning.

Having too much money on the line when you are first starting out will put undue pressure on you and give you even less confidence to take trades. It's funny how our perception of what is a lot of money can affect our trading decisions.

The Theory Explained
For example, if you are used to making $75,000 per year at your job, then losing $1,000 is probably a lot to you. But if you are trading a $100,000 account, then $1,000 is only 1% of your account and you are using proper risk management.

If you are not used to losing $1,000 on a trade, then it could really affect you psychologically. This could lead to a loss of confidence and poor trading.

However, if you start out with a $100 account and start risking $1 per trade, that is a lot easier to stomach. You can start trading your method and gain confidence in how it works and what you can expect. Then you can gradually add more money to your account as you become more comfortable (and profitable).

This is why I feel that trading nano lots in the beginning is so helpful in the development of any trader. You will be surprised how real trading becomes when you have even just $1 on the line.

Final Thoughts on How to Develop Confidence in Trading
So those are three ways that you can use to gain more confidence in your trading method. Don't let their simplicity fool you. By applying these methods, you can start to feel like you are making some real progress.

They have helped me and countless other traders. So get started right now.

Drop everything and figure out how to develop confidence in trading Forex by implementing one of these tips right now.

[Nawab]

Start trading with confident.
Newbie please dont think before trading that you can not win in forex market.You have to increase your confident level best. If others can win then why you can not.You have to do study with forex because it is very essential to understand about the basic of forex

[weeklyscalpertrader]

youb are right dear ap nay bilkul darust farmaya hai confident hi hai jis kay sath ap koi bhi kam satisfied ho k ker saktay hain jis shkhs mein lack of confidenec hai to ap kabhi bhi success nahi ho saktay hain

new traders kay liye specially yeh zarori hai keh wo confident hoon or us kay mutabikm trade karen ta keh achi earning ker saken

es business men experience se tradering karne wale traders income bhe hasil karte hen jo traders es business men confidence ke sath trading karte hen woh es business karte hen jin ko trading ke time ka bhe patta hota hey woh traders es market men loss nhe kar sakte hen jo traders tips le ke trading karte hen woh nakam ho jate hen .

[Muhammad adnan]

agr apky pas knowlage hee app ko confidents se koi v position laga sakti hai es layi pehle app ko es kam mai achi knowlage gain karni chahi aa fer app ko trading karni chahi aa fer app achi trading karo ge es layi confident se kam karo ge tabi app acha paisa bana sakte hai es kam mai ..

[Rukhsana90]

Lack of confidence will not let you choose the right action.
So I suggested that for trading we should must have a great experience and we should become a confident trader... Then we can start our forex business easily..

[HP2018]

youb are right dear ap nay bilkul darust farmaya hai confident hi hai jis kay sath ap koi bhi kam satisfied ho k ker saktay hain jis shkhs mein lack of confidenec hai to ap kabhi bhi success nahi ho saktay hain

new traders kay liye specially yeh zarori hai keh wo confident hoon or us kay mutabikm trade karen ta keh achi earning ker saken

[nitin2]

Lack of confidence will not let you take right action at right time when you require it. So you should have full confidence in your skills and your strategy while trading and it will help you succeed if you trade with confidence.

forex ke business me trader ko agar kaam karna hai to esme trader ko market me confidence banana bahut he jaroori hai esme trader ko success karne ke liye confidence chahiye he hota hai esme trader khud se market me ess baat ko samajhkar chalenga to he wo esme ache se kaam kar sakenga,esme trader ko apne skills se he kaam karna chahiye.