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The fear of losing money is very common.

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The fear of losing money is very common among new Forex traders. And for this thing pressurize me more. However, there are some other fears that emerge as obstacles for traders on their way to reach the desired level of performance. Everyone is scared to lose their money. A new trader might be doubtful to trade if he has lost some money in the past. I know psychological courses are very fruitful but as well as expensive. I can't afford those courses. Is there any other way?
 

Baazex

Member
Yes, Loosing money is very common thing traders are afraid of and its natural but thinking about loosing the money all the time is not really good for new traders its better to focus on earning or holding the money on its value instead fearing all the time , Risk management and trading knowledge are things make a trader confident.
 
Yes, Loosing money is very common thing traders are afraid of and its natural but thinking about loosing the money all the time is not really good for new traders its better to focus on earning or holding the money on its value instead fearing all the time , Risk management and trading knowledge are things make a trader confident.
As a because of the increasing number of traders many of the brokers takes the chances to scam the traders and hack their account or money. The scamming problem is the biggest problem in Forex market which makes the traders in dilemma. For this I have chosen the highly regulated Company named ForexOne. This broker gives advanced technologies in all trading platforms. They hire third party supervisor to protect the client’s fund.
 

musta

New Member
both are harmful! you have to control them! let say you opened a position with 0.01 lot and you decided to forget it for a whole week with propriety SL! let's say after 5 days this trade goes with you with 80 pips or 100 pips so you guaranteed a 10$ that's what it called non-greedy trade and you are risking free with less fear! if you are taking a 0.10 lot and it moved against you 100 pips so you loosed here a 100$ and if you don't have a bigger account than the fear will eat you! if you want to succeed in forex you have to understand money management correctly and take psychology of forex trading courses!
 

andre42

New Member
One of the main rules of trading is (or should be): don't trade when you can't afford to lose. The best way to make sure you lose is to trade with money that you can't afford to lose. If your trading capital is too important for you, you are doomed to a number of fatal mistakes.
 

andre42

New Member
You will inevitably miss some of the best trading opportunities, because they are often the most risky. You will prematurely close excellent positions at the first sign of a reverse price movement and then see how the market is going in the direction you predicted. You will take profits too early because you will be afraid that the market will take them away from you.
 

Robert Hills

Active Member
Emotions is the main enemy of a trader. It is true that as a human being we can not control our emotions easily. But in forex trading it is very much needed to control the emotions. Loss is a part and parcel of forex trading. Most of the trader get emotional or angry while they have faced losses. But every trader should have positive intentions. They always try to recover their losses. I am trading with TP global FX. Sometimes i have to face loss also. But in that time I think about my mistake and try not to do the same mistake again. My broker helps me to recover my losses and convert it into the profit.
 

Sherverty

Active Member
Losing money is an important factor of forex and you only can avoid from it if you have good skills, knowledge and money management.
 

Daantje Pieters

Active Member
It is very important to get rid of negative emotions in trading. If the trader deals with negative emotions, he will never be able to make a profit. A trader can make a lot of profit if he trades without fear.
 

Svengali

New Member
Fear is a basic human trait. Since money is so important in our lives, it is obvious to be afraid of losing money. But in forex trading, if you manage risks properly, money loss can be prevented or at least reduced to a great extent.
 
Fear of losing money is very common in traders who have earned that money. It is an emotion which can affect your trading decisions.
Fear can also over-power sometimes when the trader tends to risk more than they can actually afford.
A forex trader must know that losses here are inevitable. The only way to avoid any emotional factor coming into the way of trading is to have a well calculated trading plan along with a strong risk management strategy.
 

Allegator

Member
The fear of losing money comes naturally. But if someone has decided to trade, they better don’t let this feeling make them make wrong decisions. Trade only when your mind is free and you have prepared it well before you execute a trade.
 
Nobody likes to lose! And in forex it is inevitable to avoid some losses. The cause of this fear could be because of the lack of skills or fear in general. You should identify this and learn to take risks.

Start trading with a micro account and learn to become consistent. This will help you develop confidence and help you cope with the fear.
 

mlawson71

Well-Known Member
Most traders are torn between that fear and the fear that they will not profit. It's two opposing forces that drive the vast majority of trading decisions, for better or worse, I believe.
 

ShihTzu

New Member
Trading with fear in mind is going to result in wrong decisions.Trader should get rid of his fear before trading. The only way to do it is to educate yourself because when you are well informed you are naturally more confident. You can also move to a small account and try to work on your psychology there if you think that your emotions are overpowering your decisions.
 

Schmooze

New Member
Nobody likes to lose! And in forex it is inevitable to avoid some losses. The cause of this fear could be because of the lack of skills or fear in general. You should identify this and learn to take risks.

Start trading with a micro account and learn to become consistent. This will help you develop confidence and help you cope with the fear.
I totally agree. Even though fear of losing is genuine, one can not avoid losing in forex trading.
According to me, fear generally overpowers when one risks more than he can afford.
One should avoid trading the money which he can not afford to lose. A trader should not risk more than he can afford.
 

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