A brand new trader will hit their computer every day for the first two weeks believing that they are on fire and that they are the next phenomena of the trading world. The third week hits with a little reality as they realize that they arent tearing the world up and that there doesnt seem to be anything particularly amazing happening on their laptop screen. This is normal, and it happens to most traders. Novice traders start out of the gate and all they can think about is setting the world on fire and then they realize that they dont know quite as much as they thought they did.

Confidence isnt born from desire. It is born from experience, from learning how to handle those situations that arent covered in any book, and watching the reality of the rules find their way into the actual play. Confidence isnt something that can be purchased, that can be sucked out of self help book, or can be handed down as an heirloom. It comes from inside.

Some people have a shorter trip simply because they have started off with a fairly intact self esteem and their overall confidence is pretty good. Other people have a longer trip because they are shaken to the core when their initial confidence heads south and they feel as though they are starting from square one about two months into their new career. Again, this is all very normal.

Confidence is in part an offshoot of self efficacy. Developing either can take longer or shorter, depending simply on the circumstances that the individual feels competent. Efficacy and esteem are not identical. Self esteem is a strong rooted system of beliefs about oneself that are instilled in us when we are very young.

A poor self esteem can result from a wide range of situations, and the majority of the world suffers from low self esteem. You can develop confidence and a high level of self efficacy even with a low self esteem, Having a strong belief in ones ability to perform well doing certain tasks, jobs, or performing well under certain conditions is self efficacy, which eventually leads to a deep rooted sense of self confidence.

Why is this important? Because if you are willing to pull back a little and learn the process without trying to set the streets ablaze right from the start you are more likely to develop a strong sense of self efficacy and, over time, a strong sense of confidence. This means that given just a little bit of time, you can complete more while wasting less energy and time because you become more focused and have a clearer understanding of what is expected and how to go about it.

People who slow down, learn the ropes a little better, develop a strong sense of self efficacy, and learn to wait for their strong sense of confidence tend to not only perform better, but they are happier during the process. While confidence is part of developing a strong trading personality, it is not the only passageway. You can learn the process on your way to developing a high level of self confidence.

In almost every case, an individual is their worst critic. Give yourself the time to develop both the self efficacy and the long term deep down confidence that will help you develop a high skill level and create a stronger portfolio. Those who can give themselves grace along the journey get there faster, healthier, and happier.