To overcome the fear of loosing!

Discussion in 'For novice traders' started by Francmorio, Oct 30, 2019.

  1. Francmorio

    Francmorio Member

    To overcome this problem is very simple,. you must first accept that, you may be correct, but the price may still go against you, this does not mean you are wrong, then Remain with your strategy! it must be very simple and easy to implement!
     
  2. liafatlouie

    liafatlouie Member

    So that's what is called trading evaluation. A simple way to minimize risk.
    Thank you :)
     
  3. broforex

    broforex Member

    Sometimes I am scared of brokers, Some broker is cheating with their metatrader, sometimes their metatrader is not connected, I compared MT4 from FreshForex (Now I am trading with FreshForex) with another broker, let's say InstaForex, at the same time, InstaForex MT4 is not responding, but FreshForex MT4 is running well, so I think the problem is not from your internet connection, it is from your broker.
     
  4. broforex

    broforex Member

    The best way to fight fear in the market is to make a trading plan before making a transaction. First understand the risks that might occur, in trading that you will choose later. Also know the worst possibilities that might happen. Risk management like this is really needed to anticipate trading, in order to get results that are in line with expectations, but still safe in carrying it out.
     
  5. Tengkorakfx

    Tengkorakfx Active Member

    You have to try the market itself to see and to know the flows of the price movement so that you can overcome your fears on trading. It's kinda rough but you have to make it through
     
  6. broforex

    broforex Member

    If you notice, all professional traders lose money, and they know that loss is only an inherent part of trading. Unfortunately there are still many traders who feel afraid of losing every time they enter the market, and this will certainly cause an emotional reaction that can distract from concentration in carrying out a trading plan.
     
  7. broforex

    broforex Member

    Fear is indeed the number one enemy for Forex traders. In this case, if you still feel afraid to get involved in Forex trading, try to take the time to understand the strategies, as well as learn the risk limits that suit your trading style. For traders who are still trapped in fear, it is advisable not to trade with real money first. Try to practice your trading using a demo account.
     
  8. Tengkorakfx

    Tengkorakfx Active Member

    Fear will always preventing you from doing something new. To overcome it, we need a good plan towards our life, including financial plan where in the future we would not need to be worry about taking risks
     
  9. liafatlouie

    liafatlouie Member

    Everything must be balanced, there is no excessive fear and excessive self-confidence when trading. In my opinion, it is enough to apply the money management calculations according to the trading plan that we have planned.
     
  10. broforex

    broforex Member

    To make money, you need money. So to make money trading Forex, you need to take real money risks. That's when fear arises. The fear in Forex trading comes from the fear of losing money.
     
  11. andengireng

    andengireng Member

    Fear is often come out when the market has fallen and traders are reluctant to buy on the bottom. In this scenario the trader often decides not to enter the trade to get out of the fear that the market will fall further and miss out on the chances of going higher.
     
  12. liafatlouie

    liafatlouie Member

    Fear arises if a wrong analysis results in losses. What should we do if that happens?
     
  13. Tengkorakfx

    Tengkorakfx Active Member

    Did you plan to close when the price doesn't go to your liking? Any SL or so? I mean, it is kinda weird if you analyze the market without an open and closing plan.
     
  14. liafatlouie

    liafatlouie Member

    Usually when a panic condition cannot think clearly, and the graph is approaching SL, the heart doesn't feel good if it touches SL, So, whether it should be left alone or cut loss before being hit by SL.
     
  15. broforex

    broforex Member

    If you already set your SL point, please confident with it, put your SL is the best strategy it reflected your money management.
     
  16. liafatlouie

    liafatlouie Member

    Thank you for the advice, because it feels not good if we are not confident enough for our trading psychology. There will be too much fear and it will be difficult to make a decision.
     
  17. Tengkorakfx

    Tengkorakfx Active Member

    The key is that you have to be ready to lose it all. This trick works for you trading psychology as you will tend to do less mistakes.
     
  18. liafatlouie

    liafatlouie Member

    Based on my experience, the mentality of a novice trader like me, ready to make a big profit :D
    Reality is different from expectations, the dream of the big profit ends in a panic due to the wrong transaction position
     
  19. broforex

    broforex Member

    If you notice, all professional traders lose money, and they know that loss is only an inherent part of trading. Unfortunately there are still many traders who feel afraid of losing every time they enter the market, and this will certainly cause an emotional reaction that can distract from concentration in carrying out the trading plan.
     
  20. liafatlouie

    liafatlouie Member

    Yes, from what I have observed, expert traders lose a lot of money but are still relaxed, because they already have good Money Management. So, losing a lot of money is not a problem and is proven to be able to reverse the situation to get a much greater profit than the previous loss. Really have a strong mentality and good analysis.
     

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