so what is true confidence as a trader
look like that's what we're going to
talk about in today's video so today we
are talking about confidence confidence
as a trader how do you know when you
actually have it how do you know when
you've actually obtained it a lot of
people think they have confidence but
then you just notice little things with
how they conduct themselves what they
say and your know that you don't have
confidence but that is our ultimate goal
as traders whether it be stocks options
bonds for X you have to have confidence
if there's going to be any sort of hope
for you to succeed in the long term but
how do you know when you officially have
it that's what we're going to talk about
in order to illustrate this we're going
to go through the journey that all
traders take now whether or not they
take it in this exact order now that's
going to be a case by case basis but
point being everybody transitions
through this kind of thought process you
know starting at the beginning and then
going towards the end so the first part
that most people start at is ignorant
and I definitely started here people get
into the markets oh wow you know this is
easy maybe they make a couple good
trades oh I got it all figured out and
they think wow this trading thing is
awesome I'm ready to go next step
transitions over to lost my journey I
thought I knew what I was doing I was
being very ignorant toward sings and
then all of a sudden I had a big blowout
loss watch a big gainer turn into
breakeven then turn into a bigger loser
and I thought you know what I am lost
now this is a very critical stage first
it's critical because you have to at
least admit it to yourself a lot of
people are always looking to blame other
people oh it's that's fault it's the
market makers fault it's this that or
the other they don't want to look in the
mirror and admit it so they get stuck
right here they just remain in the
ignorant phase and as set as it is a lot
of people remain here they never get out
of the ignorant stage because they're
always looking to blame other people
maybe they're looking at and say you
know if I admit I'm lost that's a sign
of weakness I don't want to admit I'm
lost so it's that person's fault Oh
manipulation oh it's the shorter's I
mean you
you've seen the excuses if you've been
around and they never can admit that
their loss but this is a crucial step
now when you admit your loss the next
step comes in the form of well are you
going to learn another very very
critical step pretty self-explanatory
are you going to get out there invest
into your education are you going to try
to better yourself as a trader to learn
how you can you know get unlost because
you've admitted you're lost perfect
great great spot to be in great
admission on your part but now you
actually have to learn after learning a
very important step and that is going to
be reassurance what do I mean by
reassurance well this is another crucial
one because I see it all the time and
this is the one that reveals you know is
this person still ignorant or what's
going on and reassurance is yeah I know
what I'm doing but hey what do you think
about that yeah I know what I'm doing I
have it figured out but hey what do you
guys think about this chart setup yeah I
know what I'm doing hey could you
somebody look over my watch list give me
your thoughts reassurance is fine if
you're coming from the learning stage if
you're hey I've been learning about this
therefore could you help me and let me
know if I'm seeing this the right way
hopefully you see the difference from
learning to reassurance that's perfect
that's the transition you want to make
but from ignorant to reassurance and
skipping over these two steps quite
frankly you're going to look like a fool
and people can see right through it
there's nothing worse and I see it all
the time and somebody's showing up
acting all hot yeah I made a bunch of
money I know what I'm doing blah blah
blah but hey what do you guys think
about that well if you're such a good
trader what why do you need reassurance
from anybody now again if you're
learning hey I'm learning about this so
could somebody give me your thoughts am
I seeing this correctly am I looking at
this in the proper way that's awesome
you're trying to learn and you're
looking for reassurance fantastic but
the ultimate sign of confidence is right
here and that comes in the form of don't
care
I lied on what you think now this may
sound kind of ignorant this may sound
kind of arrogant but me personally I
don't care what you think I don't care
what my members think I don't care what
anybody thinks in regards to a chart but
why is that the case and my ignorant am
I being arrogant in saying that no
because I'm confident I'm confident in
my ability to read a chart I'm confident
in my ability to set up a trade plan I
don't need I don't need your thoughts
and when you can reach the stage and
this is my ultimate goal as a teacher as
a coach as a mentor when a student can
look at me and say hey clay I don't care
what you think I don't I'm not asking
you I don't need your advice I don't
need your opinion to me that is victory
to me that is job well done because that
is the goal when you are depending on
other people when you are being
reassured by other people you don't know
what you're doing quite yet now it all
goes back to totally fine if you're
coming from the learning stage but if
you're coming from the ignorant stage
and then going to reinsurance you're
always going to care at other people
think and when you care to other people
think it shows that you're not
independent on your own so this is the
ultimate goal when you don't care what
other people think that is when you have
confidence when I first started doing
these YouTube videos I was super
paranoid but now I really don't care
look at me I look like I'm homeless but
whatever if you don't like my videos you
can turn it off and that's fine but I
should I show you not I don't care so
now I know when it comes to youtube
videos I'm pretty confident in this
stuff because at the end of the day
maybe you find this helpful maybe you
don't but if you don't hey you don't
even offer you never have to watch a
YouTube video again so that's just
another way where you can really gauge
am I really confident again though if
you're saying I don't care what you
think I know what I'm doing but is that
is that really support is that really
resistance is my risk under control well
that that doesn't make sense when you
see this chain of logic and that's what
other people are noticing when you're
trying to be out there and to be honest
i should note that some of these people
they don't know they're ignorant so I
you know I always try to do my best hey
you know you say you know what you're
doing but why are you why do you care so
much about what other things I don't
need to learn anything I got it all
figured out but but what do you think of
that am i doing that right
is this right hopefully you get the
point so get out there and make it your
goal we can sit here and say hey I do
not care what you think it's not
arrogant at all it's a sign that you're
confident you know how to identify chart
setups you know how to put together a
trade plan you know how to make sure you
manage risk you know how to make sure
you manage the trade as a whole when you
can do that and don't need somebody
looking over your shoulder you know
don't hey should I buy should I sell am
I supposed to hold right now that's the
reassurance reassurance stage that's you
being dependent on somebody you want to
be independent you want to say I don't
care what you think I have everything
under control so are you confident I
don't know ask yourself do I care what
other people think them or am I always
asking for reassurance if you are asking
for reassurance ask yourself what is the
source of this reassurance if the source
is because i'm learning than hey totally
fine but if the source is I'm ignorant
and I think I know what I'm doing but I
don't want to admit that I'm lost well
then you're out you're in quite a
problem and hopefully you cannot learn
from it and get yourself back on the
proper path that needs to happen so get
out there work hard and get yourself to
the point where you can look at me and
say clay thanks for the videos but I
don't care what you think anymore I got
to figure it out I know what I'm doing I
have confidence in myself and my trade
plans get out there try to thought
emotion