Quite common with counter-trend fading strategies. Very improbable with standard price action strategies unless a black swan event or system/platform failure prevents risk management from being implemented. If I have 10 winning trades in a row, my minimum profit accrued is around $1750/contract after commissions/slippage; if I then have a losing trade, my maximum loss is $200 (plus commissions/slippage). Barring a black swan event, I can't lose it all in one trade. A counter-trend fader will very likely experience 10 or more winning trades in a row, but if trading in a professional manner will never get so cocky that s/he gives back everything gained. A novice will wipe out easily. There's a big difference between no fear (meaning no stops, averaging down because price HAS to revert to X, etc.) and low anxiety.
============= Good points, Candles No -do[j] and big difference between the risk/anger of 1 losing contract & 1 angry loser with an assault weapon ............... Big difference between no fear, high fear & low fear. A certain amount of realistic respect[fear ]of a loss can keep an old timer from a premature snooze@ keyboards,LOL IBD says if you snooze, you lose. Of course a Thomas Edison nap may help sometimes. As a matter of wisdom ,no fear /respecting risk is serious flaw of most of us when we started trading /investing
And the freedom we all seek while trading Yes Ma'am I remember.... Not so long ago in days, weeks, months, years... But it does seem as if a lifetime has past... (different day, different mindset) doesn't it.. RN
The best way to deal with anxiety is first open forex demo accounts. Here https://www.avafx.com/Demo-Registration/ you can test your ability of taking decisions. Once you are enough confident with basic transaction, you will have less terror of forex trading.
Not only will you deal with anxiety , but will also eliminate weak trading skills after a few blown demo accounts.
experience is the culpit of anxiety trading. human brain learns things by experience through association, generalization etc. driving a car most time is fun, but if you once had an accident, particularly serious one or almost killed you, you will never forget, when you pass that place again, you will pay particular attention to cars or yourself, you will be very nevous it seems you will have another one again. trading is the same thing. when you win, you have fun. when you lose,even a small loss, next time when the similar situation occurs, you may freeze or hesitate or second guess a good trade(you do not want to get hurt again subconciously), ... the only remedy is: accept the fact you will have losers, but do not put a too big bet enough to knock down your whole account ( a well predefined risk that you can accept or will not hurt you much, my rule is not affect my account liqidity: even I take that loss, I still can trade as usually), this will create severe anxiety. for example, a 5k account, you can take 50~100 buck loss per trade, will not have great impact on your account liqidity. if you take 1k loss, that will seriously threat your account survival. actually, there is good trades in option with 50~100 bucks loss/risk. you just trade one lot penny option or using spread, easily limit your risk under this level. of course if you trade future, 100 bucks just several ticks, a random move will knock you out, so that is not suitable or you will be very nervous, if you are nervous, that means you lose objectivity and you can not trade that thing. take AAPL option, when you see most option price is very expensive compared to your account, but when spread strategy is employed, your risk can be easily defined to your acceptable level. spread methods is used to minimize option premium risk. I trade future a lot, but late I found option is better. one, I can easily define my trading idea; second can clearly define my risk; third, I can adjust my size easily; fourth the most important is the leverage is far better than future, less money better reward, double/ten fold reward is easily achieved. with future, often my idea is right, but the market easily hit my stop loss ( I am right, but I lose), if I do not use stop loss, when the market trends long time against me, I lose more, so that puts me in a bad dilama: if I place a stop loss, I may lose with good idea because of market noises, if I do not place a stop loss, I may be totally wrong and lose big, so I must put a stop loss there. the stop loss thing makes me nervous, that seriously affect my trading reaction speed ( I need setups to initiate trade, not my sound judgement), for example, when in a uptrend, I bought EMA touching, but because of risk/setup definition, often I buy the thrust in order to put a stop loss (saw the low). I normally trade ES/CL/NQ, but I found I can not easily define my risk because of volatilty, the reality is "right/wrong is vague, you can not exactly pindown where to drop/to rally". with my stop loss, I get hit easily or frequently. like this week, I saw ES has good support at 1220~1230, if I bought 1220, then use recent new low to place a stop loss, I may be stopped out at 1218.75 (former low is 1219.75). I bought 100lots of SPY 124 call with averaging price 0.93, sold at closing friday with 2.8, that is three times gain. but if I bought 9k ES, just two lot(overnight), or the best 4lot for intra-day, suppose I bought the lowest 1220, and out at friday closing 1263.75, I just net 43.75 points, or 2 times 50 and 43.75=4.5k gain, you may say ES is not risker than spy option, when you bought 9k ES not means you take 9k risk, in option 9k option may be worthless this friday (real risk),but in order to take real 9k risk in ES, you may need far larger margin (you may need trade 20lot, that needs a 100k account). with no stop loss to consider, I am not nervious any more. I do not need frequently check the quote or worry about overnight/weekend adverse development (pay too much attention to market noises) to take my stop loss then late it is just some crap market noise. I can ignore those noises totally, focus on those good trades. I am happy. I do not over trade any more (try to recoup stop loss created loss, that greatly reduce the quality of my trades, most are impulsive, there is no sound thoughts).
The fact that markets are based on granularity gives you the answer you cannot reason through. The reasoning goes. blah, blah blah ...... Now, you know you are dealing with finite set theory. To finish up, you have to build your mind to have it fully differentiated. Then and only then, you will always have perception. The three symptoms of a such a trader are: support, comfort and confidence. What else could be the result? There is no other possible result. You either "know that you know" all the time or you are betting instead of being a knowledgeable and skilled trader. Most people who trade do not use the market's offer as their standard. Try that once and you will find out how to judge the comments of others. You are in a very tough place. Too bad, but that is how the cookie crumbles for almost everyone (say around 90%). The market follows one timeless pattern. Period. Final note: when you trade with money, it is not possible to use stops.
Not when you think that you can make 4% per day scalping. Why do you start these threads, and then completely ignore or discount the advice proferred ?