Dealing With Doubt, Fear and Conflict While Trading

[mlawson71]

Mark Douglas said, "Most often, traders have four fears. There’s the fear of being wrong, the fear of losing money, the fear of missing out and the fear of leaving money on the table. I found that basically, those four fears accounted for probably 90% to 95% of the trading errors that we make. Let’s put it this way: If you can recognize opportunity, what’s going to prevent you from executing your trades properly? Your fear. Your fears immobilize you. Your fears distort your perception of market information in ways that don’t allow you to utilize what you know.”

All that is absolutely true, but I am not sure how it is helpful. Recognizing one’s fear in on its own does little to help you deal with that fear, although it is a first step towards that goal.