I get motivate back but when i want to trade im so scared, im phobia. should i continue to trade?
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i lose my money once. and im afraid if i lose my money again.
Hey Ellina…
What exactly are you afraid about?
Think about that.
Talk to me.
Mike
3 Likes
Sound like you’re trading with money you can’t afford to lose?
At least, that’s the ‘usual suspect’ which plays with emotions - it happens to all of us from time to time with larger positions.
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What are you afraid of? I’m also scared most of the time when I enter trades but I feel like the only way to get past that is through experience so I have to keep at it.
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Hey Lady…
Ok. I’ll ask you also.
What are you afraid of?
Honestly, can you dig down deep, and find that answer?
How about these possibilities.
About losing money?
About being wrong?
Afraid that you can’t learn?
I don’t believe there is anything to be afraid about.
Ok. Maybe this.
Maybe you don’t have it in you of being a trader. Then all the work you put into this will be a waste of time. But, then again, what’s the harm in finding that out?
There is nothing to be afraid of.
Mike
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im afraid if im gonna lose my money again. im a newbie and i was practice with demo account and its okay at first so i decide to open a real account but i lose all my money. Im worry that my mom will ask about my money. I think that my psychology is not strong.
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yeah. im afraid to lose my money. now im having a problem with my psychology of trading that im not going to be a succesful trader
i lose my money and i think its not worth if i continue to trade if i can’t make profit. It was ok when i practice with demo account but i lose money in real account. im shock.
i’m curious
why does someone who has just decided to give up trading decide to join a traders’ forum to announce the fact?
do you wish people to say “No, don’t give up”?
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not really. but i think i just want someone to give opinion why i should quit from trading as my psychology in tradimg is not good and at the same time maybe there’s someone can show me that trading psychology it the most important think before trading.
You are showing an abundance of caution which is actually a great trait to have as a trader. It sounds like you are not ready to have a live account and put your hard earned money on the line. There is nothing wrong with that. You should open up a demo and continue to practice your strategy until you build up enough confidence to go live again.
5 Likes
There it is.
I agree.
You’re not ready yet. Ok. So what…go back to the drawing board. We all have.
But now, when you demo, make it as real as possible, like you did when you went live. And when you are consistent, feel confident, and have lost the fear of losing, then you should give it another try. But not until you’ve proved yourself, time and time again, on demo.
BTW…I thought I was ready after 3 years of demoing.
I was wrong.
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Take your time learning and stay in demo account until you’re ready to go live. Some members here are trading in demo trading for 5 years.
How long were you trading with a demo account and on a scale of 1-10 with 10 exerting the most effort in learning and improving your trading skills, where would you rate yourself at during that time you were learning how to trade?
Care to share more details about your demo and live trading? How long were you doing each? How many live trades did you put on? What was your goal on you live account, other than “winning”? How were you managing your risk and trade setups?
The community here is really great about beating a single thought into your head - risk management, risk management, risk management.
Protect that capital.
What were you doing/not doing to make that happen? You’ve answered why you’re scared. Now answer what you did wrong in your trading.
Hi Ellina
It is ok to be scared to loose. It means you are not ready yet to trade on a live account. Go back to your course and demo. Practice what you will be learning and you will be surprised to discover a lot of things that you missed. I know it is a long course but it is worth it. Make sure you understand about leverage, margin, lot sizes. That is money management in general. Do not use big lot sizes even when practice on a demo. Stick to 0.01 to 0.05 maximum. Open a demo with a small amount and triple it. Once you have tripled your account you can then trade with real money. Remember small lots and don’t think about making money now but about perfecting your trading strategy, money will follow later.
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Please follow what other trades suggest you. in addition to that i suggest you to read good books on trading psychology. My suggestion will be reading “Mark Douglas - Trading in the Zone”. In chapter-5, he has the answer for you.
You perceived the market as a money grubbing giant in the first instance. he frightened you. What if you have made good trades in your first account. you tend to trade more. you will perceive the market as money machine. Each and every experience will differ. Treat each trade as new trade. New trade is not affected by outcomes of your previous trades.
You already know you are lagging in psychology. Get it done straight. As other traders suggests do demo for some more time and small live account until you double or triple it. There is no rush in making money. market and opportunities are there always.
If you decide to quit, think of why you started to trade.
Long way to go, keep walking.
Siva.
Did you double your account 3 times before going in to demo? If not then dont go to real
Did you give up or make some progress with your fears? Hopefully you’re back at it.
For how long have you been trading? How long did you spend trading on a demo account? Did you have a trading plan? Have you gone through the School of Pipsology here on Babypips?
I am asking you all these questions because the answers to them will help people here help you.