You must be aware of the fact that good traders do not make their living from wins but from their ability to manage losses. The 80/20 rule applies here as well. The bad trades are the ones which make the losing traders sweat. The winners just shrug it off. The key is to lose small and win big. Good luck!
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Mindset in trading is important,
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Not sure how much you are risking % wise per trade but maybe you need to lower it.
Also when money doesnt become such a prime motivation in life losses don’t become such a big deal. How you accomplish that is a whole different question though
Develop other income streams. Having oneitis for trading profits is like having oneitis for someone of the opposite sex - namely you chase them away.
If you are day trading you will most likely find much of that nervousness disappears on a higher timeframe.
And finally sometimes you just have to live with your nerves. In time you will get use to feeling on edge - and it eventually becomes no big deal
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Reading more about trading and then putting what I’ve learned to good use gives me more confidence. Yes, I intend to get nervous while trading, but I also have the courage to accept losses that are the part of every trader.
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It is very common to feel nervous when you start trading with a real account. I believe that new traders should begin trading with a demo account and with small amounts at first because the goal is to build confidence, and once that confidence is established, you can move to bigger lot sizes.
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I think your trading experience can help you with that. So, you better keep exploring the market and taking small risks until you become more confident about taking big risks.
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Learning how to control your emotion can be stricky. That is why if you are switching to live trading i would recommend starting with a micro/cent account first so you can minimize yourself while getting yourself familiarised with real money trading pressure. You will get used to it after a while, also setting stop loss and avoiding checking your order constantly will help.
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i usually trade on small accounts and copy it to big ones so stress free.
You are nervous because you are afraid of losing the money. So again and again these things are coming and are haunting your head. Apply the strategy and forget all the negativity.
Yes, as a trader trades, he learns to manage his emotions and over a period of time he masters it. I also believe that breathing exercising and meditation also help in maintaining the calmness level in the mind.
The best way to mitigate trading anxiety is strictly money management , no more than 1% and set and forget.
Close out your laptops once the trade is engaged let your TP SL do the rest
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This point can never be overstated, people react to emotions differently, so it’s imperative to understand yourself before going live. If you know little disappointments affects you a lot, stay longer on demo trades.
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Just do these 3 things until you feel confident.
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Practice on a demo account as if you are trading with real money. Train your mind to deal with the emotions. -
Back testing your strategy before going live so that you can identify any loopholes. -
Do not keep your eyes glued to the screen while trading. Leave after putting a stop loss and take profit and let the trade run on its own.
These are some things which I did to cope up with my anxiety as a beginner. Hope this helps. Good luck!
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That last piece of advice is worth gold!
I, a beginner myself, because while I have been exposed to trading for about seven years it is only now that I am conducting it with consistency, do become anxious when a trade goes south.
Keeping a screen on the side with the constant flow of fluctuating green and red bars (!) advising that that trade has not yet recovered is very unnerving. Many a time I close the offending tab or simply take a lengthy break from the trading session.
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I remember starting out feeling quite anxious. You must, in my opinion, mentally get ready for the possibility that losing money is just a part of life and not the end of the world. I began by taking very tiny risks until I gained the confidence to do so, and I always employed good risk management to make sure I wouldn’t lose an excessive amount of money.
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Simply take a break from your screens if you start to feel anxious, unwind, and keep in mind that perfect forex trading performances and setups don’t exist.
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I guess you are a newbie & that’s why you are facing this issue right now! So, you need to practice more in demo to develop your confident level!
Also try using some relaxation methods like meditation or like I do I listen frequently to ASMR videos they really he’ll me unwind and destrees
@Jungletrader, using meditation is very interesting. I would think this would be an early morning activity to prepare the psyche/mind for the day ahead or before sleeping for sounder sleep… About ASMR I am sceptic - not about their validity - but whether to use them in conjunction with meditation or during an activity such as trading, studying etc
You need to practice on a simulator until you gain confidence to trade in the live market. Take as many risks as you want and test as many strategies as you want until you feel ready to join the live market.