TraderInterviews.com: Hello, everybody, welcome back to TraderInterviews.com. Thanks very much for joining us for another show this week. Our guest today is Doug Hirschhorn, Dr. Doug. He is a PhD, and you've probably seen him a couple of different times. He is been all over CNBC. He's been on Today Show talking about Peak Performance that helps traders basically become the best that they can be in terms of their trading. We've all heard that psychology is a huge part of being a successful trader and some of the best traders that I've talked to here on the show, too, agree with that and say, "You know you may have the best strategies in the world, but if you do not have confidence in your trading ability and just an overall mental attitude of success you're going to have a tough time succeeding." So, we're going to talk to Dr. Doug today about that and find out what he has some advice for the newer traders as well. So, Dr. Doug, thanks very much for joining the show today.
Dr. Doug: My pleasure, Tim. Thank you.
TraderInterviews.com: One of the first things that I usually ask or get asked actually when we're talking about trader's psychology and confidence in a trader is, "How do I develop a confidence in my strategy?" In other words, the question that gets emailed to is ask your traders how long it took them to become confident in their strategies and you've got with a lot of traders, so what's your answer in that? How long does it take a trader to really get confident and develop that as skill as a trader?
Dr. Doug: The unfortunate part that I find with most traders is that their confidence is link to their PNL, so they'll say that their confidence starts to pick up and increase when their PNL starts to show positive returns and so the timeframe could be anywhere from a couple of days to a couple months to a couple years depends on the individual. I don't like...
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