Also, make sure you are aimimg 1:2 risk to reward ratio atleast. Or try aiming more than this but not less.
Just think of it as numbers on a screen and not money. Just digits… Don’t be scared of digits
You learn from your failures! Keep this in your mind always.
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Only trade with money you can flush down the toilet.
By trading more.
Confidence will come with experience. Trade small amounts until you are comfortable with bigger investments.
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start small and walk away from the trade after placing it
Don’t panic and be consistent!
Practice makes perfect. Listen to some psychology videos from Mark Douglas (Trading in the Zone)
That’s because demo and live trading are poles apart. Start micro trading instead.
We do not need to have any Fear while doing our trades and also develop Reliable Trading Skills.
If you are this scared to go live again, try with a demo account, till you feel a bit better and then you can shoot the live account with small deposits and try to place trades that you are really confident about. It would make you a bit comfortable and confident, and both these things are really important while trading.
Though there is no hard and fast rule for overcoming your fear of losing, I personally believe that you will be able to eliminate it only after trading. The more you trade, the more you understand it and hence, there won’t be any fear of losing or anything. After all, experience is the best teacher.
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I suggest go live and make a small trade to remove the fear, everyone may not like my suggestion but use unregulated broker which offers you higher leverage. As yoi will require less margin to place the trades.
Isn’t high leverage risky for you?
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My pal, if you have fear of trading that means you have not been trading well. Try to practice as much as you can. See where you are going wrong. Maybe you are just not using the right method of trading.
I partly agree with you. It’s okay to start trading on a demo account initially but in order to overcome your emotional fear, you need to trade on a live account. Untill your own funds are not involved, you won’t take it seriosuly or you won’t even understand the fear of losing money. So start with a smaller amount and risk what you can afford to lose.
Keep trading buddy and don’t give up. It’s only practice that is going to instill confidence in you and your knowledge will also grow, which ultimately will again dispel your trading fears.
Always tune yourself on demo trading accounts, back-test your strategies. And keep always a learning attitude. This will help you to gain confidence on your trades and eventually helps in conquering fear.
Exactly, demo trading always helps a person to test the trading conditions prior to making the live trades, also a trader should be determined enough that the fear of losing doesn’t come in his way and if in case any loss occurs then he manages to overcome it instead of giving up.
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