A question of confidence, says Louise Bedford.

You are the hedge fund manager of your own family's net worth, and they're trusting you not to stuff it up. This one thought keeps me motivated to improve and develop my skills. However, every now and again, creeping doubts move in and threaten to envelop me. A little voice whispers at 3am, “Maybe you’ve just been lucky for the past 20 years. Maybe this week your world will come crashing down and you’ll prove that you’re just too dumb to trade.”

Arrrgggg! Nothing strikes terror into the heart of a trader as much as self-doubt. We rely on our confidence in our systems and ourselves to make a buck. White ant our self-image, and disaster will soon follow. Even knowing this, I still sometimes suffer from self-doubt. So I decided to do some research. Education is power, hey?

Stephen Hawking says: "People who boast about their IQ are losers." Turns out that Hawking himself was an average student until his mid-twenties. How about that!
Interestingly, mastering a new skill makes a lasting impression. Using brain-mapping techniques, it has become clear that focused study and practice literally alter neural connections forever...

Excerpted from an article originally published in the May/Jun 2011 issue of YourTradingEdge magazine. All rights reserved. © Copyright 2011, Your Media Edge Pty Ltd.
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