Practice makes perfect. Listen to some psychology videos from Mark Douglas (Trading in the Zone)
Thatâs 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 wonât 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.
Isnât 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. Itâs 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 wonât take it seriosuly or you wonât 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 donât give up. Itâs 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 doesnât 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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With lot of regular practice, you can remove this fear.
Real confidence can be achieved when you learn how to plan your trade. Most traders focus on the trade entries but forget how to plan their exit. A clear exit plan gives you a courage to face each trade with conviction.
If you donât know how to exit your trade before opening it, that creates confusion and fear.
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As a human being, it is normal to have fears in trading. But if you trade with money you can afford to lose, risk no more than 1% on each trade and develop a trading plan that has clearly defined entries and exits, then your fear of trading will automatically be gone.
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Firstly, I feel that you should try not coming under the pressure. The more stress that you take, there is a high probability that you can take wrong decisions. You should give your all in the demo accounts first and consider the trades the way you would in a live account. Another thing that can really help you is to be well informed about any latest happening in the market, it surely will give you a sense of confidence and make you comfortable with trading. Another thing that you need to know is that there will be days when you will make losses and that is a part of trading.
Fear of losing can push you towards making irrational decisions so that might be the reason why you start losing when you trade in a live account.I will suggest you to trade what you are willing to lose and donât risk more than 1% of your trade initially. You need to have plan so that you can incorporate it while trading.
I think thatâs a great advice. If we know how to manage risk well, things are much better.
You need to maintain consistency in order to remove fear of trading. Consistency will help you earn stable and regular profits.
Even after >15 years on the markets I do have the fear at various levels.
My way to cope with that is focus on automated trading. If I have acceptable strategy (with positive expectation) and I cannot execute it due to my âpsychological limitsâ - I need some cold bastard to execute it for me without hesitation, a robot.