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Old Apr 19th, 2012, 11:17 PM   #1
fxgator
 
 
Join Date: Nov 2008
Posts: 92
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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Old Apr 19th, 2012, 11:53 PM   #2
mm19
 
 
Join Date: Apr 2012
Posts: 185
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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Old Apr 21st, 2012, 09:44 AM   #3
Lucrum
 
 
Join Date: Dec 2003
Location: Canton, Georgia
Posts: 37,789
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Old Apr 21st, 2012, 11:32 AM   #4
BlueTurtle
 
 
Join Date: Jan 2012
Posts: 569
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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Old Apr 21st, 2012, 01:03 PM   #5
ElectricSavant
 
 
Join Date: Jan 2003
Location: Sweden, California, Colorado & New York
Posts: 14,844
Automation

Quote:
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?
    Quote
Old Apr 21st, 2012, 01:22 PM   #6
Xspurt
 
 
Join Date: Jun 2009
Location: Togo
Posts: 1,781
Quote:
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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