I am new here. I have not yet started trading but still wondering if should I go for trading or not as I am quite fearful of losing my money. Your suggestions are welcome guys. Thanks in advance.
You should be trading with "risk capital" as in money you could afford to lose. Of course you hope not to lose the money but if you do it will not drastically effect your life. In this scenario, you will not be as fearful of losing money.
If you invest or trade the stockmarket, one thing is guaranteed that is you will lose monies. I understand nobody wants to lose monies but, you are not going to win 100% of the time. Nobody does so, accept that fact. Risk no more than 2% of your capital on any trade and limit your trades to 5 trades total for a total risk of 10% of your capital. That is already on a worst case scenario of losing all 5 trades. Use stop losses to limit your actual risk to less than 2%. You are already ahead of the other traders who have no risk management whatsoever. Trade with the trend and not against it. Only buy stocks that are trending up. Buy Stan Weinstein's book, Secrets for Profiting in Bull and Bear Markets, read it cover to cover. I am not affiliated with him whasoever but, believe it is one of the best books on stocktrading out there.
Fear is a by-product/side effect of the unknown/being uncertain and those are the emotions the breeds in the individual without skill. Learn with demos, triple your account, spend doing that 2 years, get your hands onto books from the best players, countless youtube videos & collect your own data, by trying again and again, failing and reinventing. Once you know what you're doing - there's nothing left to be afraid of. timestamped
Some people trade to face that fear and get accustomed to MEASURED risk. They say movie stunt people appear to do very risky things, but they plan out all the details and are actually fairly low risk.This shot was done by Buster Keaton, no doubles, no CGI. It was a well measured risk. When you trade with poor planning that is where the fear is well founded. A house falls on Buster Keaton - Bing video
It would be best for you to not even begin. Most are ill suited to learn and doomed from the start because of their poor person’s orientation toward money that comes from their heritage and upbringing. Many losers kid themselves (and others) for years before they give up. Some of these become vendors and sell the dream to others. Count yourself among the smart ones by not getting sucked in by the allure of easy riches. Think Aladdin stuck in the cave but without a genie.
Get a demo account, they're free. Search for a simple strategy that suits your market preferences and life-style and temperament, they're free. Demo trade until you're making consistent profits, but don't put real money into a live account until then - putting real money in won't change the outcome from losing to winning.
Fear not,no pun intended.. Traders are typically fear or greed based..You are one step ahead of the game.. Baby steps...figure out an approach which works with how you are built... Commit to your craft And trade small to start
Fear and Greed - a traders enemy. Fear prevents you from entering a trade and you watch on the sidelines as your trading idea rises in value without you. Then Greed takes over. Greed gets you into the trade at the high and you watch as your trade plummets in value. Repeat.