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fxgator
 

Registered: Nov 2008
Posts: 92

 

04-20-12 04:17 AM

I think it is normal for all people to have fears. I believe that a person that has never experienced this feeling is not normal. But it really hurts when fear is starting to get all over us and hinders us to do the things we wanted to do. In forex, I'm sure that all we are have fears of loosing money at first. So during your early days in forex, how were you able to get rid of the fear of loosing money?

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mm19
 

Registered: Apr 2012
Posts: 185

 

04-20-12 04:53 AM

you must not try and get rid of fear.
learn to tame/massage/use it.

you can do this trading real money with meaningfull position and doing it long enough.

or get real mentor that will shorten the trip but you will not land your ideal system but someone elses.

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Lucrum
 

Registered: Dec 2003
Posts: 31217

 

04-21-12 02:44 PM

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BlueTurtle
 

Registered: Feb 2012
Posts: 542

 

04-21-12 04:32 PM

I believe you must first be trading with money you can afford to lose. Say 25k that can be wiped out and won't change your mindset too much. If you are fearful of being broke, you are done.

If you are fearful of being wrong, well, get used to it. most other professions you can do one thing and actually get a positive result; repeat and repeat and get better at it. not really in trading.

if you are fearful of failing, well, life is short and who cares....if you are passionate about something, go for it. doesn't matter how you are judged. it's your life.

if you are fearful of never knowing everything, well, get used to that as well.

gl

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ElectricSavant
 

Registered: Jan 2003
Posts: 14844

 

04-21-12 06:03 PM

Automation


Quote from fxgator:

I think it is normal for all people to have fears. I believe that a person that has never experienced this feeling is not normal. But it really hurts when fear is starting to get all over us and hinders us to do the things we wanted to do. In forex, I'm sure that all we are have fears of loosing money at first. So during your early days in forex, how were you able to get rid of the fear of loosing money?

    Edit/Delete Quote Complain
Xspurt
 

Registered: Jun 2009
Posts: 1781

 

04-21-12 06:22 PM


Quote from fxgator:

... during your early days in forex, how were you able to get rid of the fear of loosing money?



If you are losing money, you should never get over the fear, for if you do you'll lose everything.

Perhaps you mean how do you get over the fear of taking the next trade after several losses when you believe your method will come out on top but your discipline is shot?

The only thing I have found that works is better set ups. If you can't improve technique and methodology but you are convinced you have a winning style, then psychology seems to be the approach.

Failing that an understanding friend with a baseball bat to enforce discipline?

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