Overcoming fear

Beginner Questions Trading Psychology
25

You should start with what are you afraid of, if its losing the depo, then try trading smaller volumes, but enter the deals more often.

27

I agree about the smaller positions, but I am not sure how trading more often helps exactly with the anxiety caused by trading. The more you trade, the more anxious you will be, the more money you will lose.

29

Be comfortable with trading, in anxiety you will not decide well . Think as much you can before open any position. Because good analysis and right plan will help to overcome fear and anxiety. When you are trading with proper risk be sure you will manage trades according to market.

30

Yes small lots and low risk trading is a good way to overcome fear. When we are able to get out put from market we feel courage to work more good. less risk is supportive because we loose less and easy to manage profitable trades.

31

It can be, even a number of novice traders face this problem after making several SLā€™s in a row! Yes, no one making here 100% perfect analysis but till now expert Forex traders are confident enough. Because they have enough idea about how to recover!

32

If you ask me, everyone havet that problem from time to time, not just novice traders. True, experienced traders have learned with deal with their emotions - or at least some of them have - but weā€™re all still human and we still have weaknesses from time to time.

33

Yes, making live trading mistake is not a major problem, problem is- donā€™t take care about trading mistakes! Yes, we are Human and emotions and greed is our natural habit! Thatā€™s the importance of money manage policy!

34

Most people do care about their trading mistakes, they just donā€™t know to go about rectifying them, unfortunately.

35

I indicated, they donā€™t use checklist and donā€™t spend enough time on their live trading mistakes (how to overcome)!

36

A checklist of what exactly? Please elaborate?

37

For me, check list means: how strong the trend is! Where are the support/resistant levels! Checking major news events & data and also my previous trading mistakes! I use a notebook actually for checklist! Hope this helps.

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38

Thank you for clarifying. That makes perfect sense.

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40

Most especially news events. A common mistake when using technical indicators is failure to check the fundamental indicators before executing a trade. Technical indicators cannot affect fundamental indicators, but fundamental indicators does affect everything. No matter how strong your technical indicator signal is,such a checklist is very necessary before executing.

41

Glad you liked it! You are always welcome.

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42

I think we are stuck to any one system technical analysts not see fundamentals when they are new to forex trading . They understand importance of both when spend some time in trading . both systems should be considered then you can decide confidently.

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43

It does happen with many traders and the same is also because when we are trading with limited trading volumes then our trades will not give us any income. We need to set only limited targets so tha twe are able to meet them easily :slight_smile:

44

Generally speaking, a trader must learn how to balance between their fear and their greed. The former pushes them to open unsuitable trades, the latter pushes them to close suitable trades.

45

I think fear is first of all an uncertainty in oneā€™s own knowledge and a lack of experience, when thereā€™s more of the two, then fear will go away.

46

Naturally, you need time and practice for everything. But trading small amounts can give you a chance to preserve your deposit, even if you traded really badly.

47

True. But I think we should also keep in mind that approach works if one actually learns how to trade relatively well before theyā€™ve lost their entire deposit due to small but constant losses.