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.

[mlawson71]

On principle I agree, but that advice is not very helpful when a trader is like me and they’re always in doubt.

[GerhardtW]

So my question is How does one deal with the [B]Doubt, Fear and Conflict[/B] while trading with real money?

The trading psychological extremely important, and the reason for that is simple: A trader is often darting in and out of instruments on short notice and is forced to make quick decisions. To accomplish this, they need a certain presence of mind.

[imbest]

Trading it self is conflicting when we try to analyze market. Feel what should do if enter at this point . All the time fear an doubt are with us. So trader need to have some confidence , do trading with managed plan then he can face less fear because he knows he can loose or with a specific amount .

[mlawson71]

Trading it self is conflicting when we try to analyze market. Feel what should do if enter at this point . All the time fear an doubt are with us. So trader need to have some confidence , do trading with managed plan then he can face less fear because he knows he can loose or with a specific amount .

It’s true that traders need confidence, but that is something that is hard to come by, even when you know you’re good at trading. At least that has been my experience.