How can u overcome the fear of losing while trading?
Postagens: 84
Membro desde: 12/10/2013
Originally posted by leebelisar
Originally posted by Gerski
I would just say "No Guts,NoGlory".How will we ever learn the actual trading when we are afraid of lossing.So in any business theres a risk and if we are afraid/fear to take a risk we will never succeed.
Lossing is part of the actual trading esp for fresh starter like me. Risk is also normal. What we need is enough education, skills and training as well as faith to the system and the broker itself to triumph.
Risk is definitely normal, i think the main issue is how to manage and limit the risk you are taking (i.e. gettin in car has the risk of a car crash, putting on a seat belt and driving at a speed limit manages this risk to an acceptable level). I agree with Gerski "No Guts No Glory" but learn how to manage risk before going all rambo.
By the way I agree with the education, skills and training but you shouldn't rely on others to provide these, your only friend who will never betray you in forex is the research you do for yourself..
Postagens: 14
Membro desde: 30/07/2013
I agree with you, learning and knowledge is important to secure some issues that are not understood. But the practice is essential to better understand and each subject. Learn for yourself is the key to achieving what you want in life.
Postagens: 120
Membro desde: 06/11/2013
Originally posted by MargaretLekkerI agree with you, learning and knowledge is important to secure some issues that are not understood. But the practice is essential to better understand and each subject. Learn for yourself is the key to achieving what you want in life.
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Practive is Ok, like doing a demo account. But it would be better if you try to trade live so you can apply what you have learn for. Live trading allows you to use in the real situation the knowledge and skills that you learn for yourself.
Postagens: 22
Membro desde: 07/11/2013
Originally posted by leebelisarPractive is Ok, like doing a demo account. But it would be better if you try to trade live so you can apply what you have learn for. Live trading allows you to use in the real situation the knowledge and skills that you learn for yourself.
Leebelisar is right, demos are but a stepping stone for any trader. how you apply the stepping stone is what is important during live trading.
like how fundamental and technical practices are applied
Postagens: 47
Membro desde: 13/09/2013
Originally posted by leebelisar
Originally posted by Gerski
I would just say "No Guts,NoGlory".How will we ever learn the actual trading when we are afraid of lossing.So in any business theres a risk and if we are afraid/fear to take a risk we will never succeed.
Lossing is part of the actual trading esp for fresh starter like me. Risk is also normal. What we need is enough education, skills and training as well as faith to the system and the broker itself to triumph.
Maybe we can minimize our fear of losing by having a good risk management plan in place and sticking to a strategy that really work for us.
Postagens: 120
Membro desde: 06/11/2013
Originally posted by fxlots
Originally posted by leebelisar
Practive is Ok, like doing a demo account. But it would be better if you try to trade live so you can apply what you have learn for. Live trading allows you to use in the real situation the knowledge and skills that you learn for yourself.
Leebelisar is right, demos are but a stepping stone for any trader. how you apply the stepping stone is what is important during live trading.
like how fundamental and technical practices are applied
Demo is OK. But be sure not to use it for a longer time. As i've said before, it could lead you to develop a bad habit e.g taking too much risk. This is actually a good advice that I noted from an experienced trader that I chatted with.
Postagens: 120
Membro desde: 06/11/2013
Originally posted by rrayne20009
Originally posted by leebelisar
Originally posted by Gerski
I would just say "No Guts,NoGlory".How will we ever learn the actual trading when we are afraid of lossing.So in any business theres a risk and if we are afraid/fear to take a risk we will never succeed.
Lossing is part of the actual trading esp for fresh starter like me. Risk is also normal. What we need is enough education, skills and training as well as faith to the system and the broker itself to triumph.
Maybe we can minimize our fear of losing by having a good risk management plan in place and sticking to a strategy that really work for us.
Just to add up, good timing too. Of course, we should be in constant monitoring of the market.
Postagens: 47
Membro desde: 13/09/2013
We should just take a loss and view it as a lesson.Analyze and study a way not to do same mistake again.Be persistent.
Postagens: 41
Membro desde: 07/11/2013
I agree that lossing is a part of trading.If you want to be successful you need to become brave and fight for it.If your afraid you'll give up so if I were you,be strong and strive more you should learn from your mistake.
Postagens: 52
Membro desde: 07/11/2013
Originally posted by YazanAnmarThe Forex market is like a predator that you might smell fear from, it can attack at any time and leave behind only the bones.
How can the trader who is afraid of doing the wrong thing at the wrong time overcome his fear?!?!
Please share your thoughts
Going back to the inital question, i think the best way is to conduct an analysis BEFORE you trade... by doing an analysis you are building up a justification with yourself on how you should trade, and should it go awry past a point outside of your predicit there is stop-loss option to keep major loss at bay.... So how do you overcome your fear of loss?
My answer is like buying food, before you put it in your mouth (commit to a trade) find out if you're allergic to nuts first (analyse available data).