Fear of Trades

Rebeca John

Newbie
1 0
Trading in Forex is only successful if you lose the fear to lose. This is what I found in last many encounters with difficult situations in Trading scenario.
I do not know much about human psychology, but I am dead sure that people will fear to lose things in life which restrain them from success. I have my own experiences in this matter.
 
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ChocolateDigestive

Experienced member
1,153 281
if you fear to trade you should scale down your position size until you are no longer afraid, then you build intraday/intraweek/intramonth profitability sizing up as you get more confident. no need to over analyse it imo.
 

samirdu16

Junior member
42 2
Yeap, overcoming fear is one of the most important things in forex. Actually, if you are disciplined and having a good trading system along with the technical and analytical tools I think fear can be controlled easily..
 

Cornix

Well-known member
267 22
Simply overcoming fear won't help. Fear tells you that you are not confident in your trading, which usually means you don't really believe you can make consistent profits using your current method.

Now ask yourself: if you simply suppress your fear, are you 100% sure you will make consistent profits without any tweaking of your current methodology? If the answer is clear "yes" then you should look what else makes you fearful, probably you trade too big and feel that you may have a drawdown which would be very hard to recover from. Probably something else.

Completely irrational fear is relatively rare.

If on the other side, the answer to the question above is "no", then your fear is actually your friend preventing you from blowing up. :)
 

Pat494

Legendary member
13,970 1,432
As someone said " Don't risk what you can't afford to gain what you don't need "
 

Pat494

Legendary member
13,970 1,432
Thanks guys, nice to know you're thinking of me even when I haven't posted. Here's a recent pic to keep you going:

That reminds me if I ever get through the pearly gates is- ask BIG G why he made the Greeks so fat and hairy ? Geez even the women too ?????
 

forever_young

Member
84 1
To the topic starter, the only things, which you should think about, is how not to became a daredevil through such thoughts. It's hard to lose, but it helps us to stay sober. If money are meaningful and losses dont' bother, that doesn't work.
 

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