I'm scared of trading, Should i be?

[Achilles23 48]

Forex trading psychology is a big topic. Psychological psychology, not a lack of academic knowledge or skill in the application, is often the primary originator of traders' mistakes. Mistakes are frequently repeated by financial traders from different national, cultural and social backgrounds, indicating that the common features between us as human beings lie at the basis of these mistakes.

[cryptonauta 25]

More than fear should be respect, the trade must be worked with a good strategy and vision of the market and with a capital that you allow yourself to lose.

[elimdavid 66]

Fear is normal; it prevents you from doing foolish things; what is not normal is not to try for fear of failure; you would have failed without trying. Start and learn; learn from your victories but even more from your failures.

[luthfi_2a 110]

That’s a really good question. Overcoming your nervousness and anxiety about putting on a forex trade just takes time. Lots and lots of time. I’ve been trading for over 10 years and sometimes I still feel a little nervous putting on a trade. The way I deal with this is to remind myself that the trade I’m putting on exactly follows my rules, not somewhat follows my rule set but exactly follows my rules. In that way I push the nervous part of myself out of the way and put the trade on.

Backtesting your strategy will also do a lot to alleviate your fears assuming that you have a robust strategy with a positive expectancy. This practice builds confidence in your strategy’s reliance. But demo trading can’t be compared to real time trading. Time moves so much slower in real time trading and your patience is seriously tested. And then of course there’s the fact that real time trading involves real money and losses are much more impactful and gut wrenching. So it’s good to open an account with a little money in it and practice with that before you load up the account. See what it’s like to trade real money in real time.

One more thing I hold in my mind is that I’m really dealing with a whole group of trades that I will have placed over a period of time, whether it be a week or a month. Those aggregate results from all the trades I placed during that period are what I’m interested in. I know that I will always have losses - that’s part of trading. The individual trades are just bit players in my overall game plan. That helps me see the bigger picture of my overall trade plan rather than focus on the micro picture of each particular loss or win. I’ve tested my strategies so much that I don’t get ruffled by losses - of course I still detest them! - but I don’t fear them because I have them factored into my analysis.

You’re smart to think about this fear component because having your emotions get mixed up into trading is a sure way to fail. The less you are ruled by your emotions the better a trader you will be. If you have a money management system in place and if you have a strategy that you have confidence in, then just follow your rule set as though you were an automated system.

[elkaram 19]

One must take risks to gain and gain wealth, and if fear prevails, then there is no profit in life

[Cryptonix 135]

Another option is to trade with the money that your life does not depend on. If they are afraid of losing them, then it will be impossible to take risks, and if they do not take risks, then there are no chances to earn money. There is a saying: "until you take a risk, you will not earn."

[Amanmsdk 54]

You must scared but no to that extent that leads you to give up. You should take risk to invest because without investing you will not be able to earn. So you have to be careful and also you will have to take risk.

[Bernardo Brazon 31]

To begin with, it is best that you study a lot about the psychology of trading, there are many manuals and useful information on the internet. I do not recommend that you pay someone for a manual, you can get them for free, and do not allow them to sell you smoke.

 

Study and practice with demo accounts until you feel more confident to operate on different exchanges.

[Miguelpc19 55]

On 10/7/2019 at 6:11 AM, teminalibug said:

I hear stories some of them right here on cryptotalk, its like Trading is to risky

I remember back when I was living with my parents, I used to tell them that i was trading but i was actually gambling on dice sites.. LMAO. I tried to trade sometimes without knowing what i was doing, did few orders and I was like damn! this thing is scarier and complicated than gambling pss! so i kept gambling and everyone believed that i was trading, was good at it though, Gambling i mean until i quit

Now every time i have enough money to start Trading i get scared!

How do you guys do it, and how do i get started? like you i mean from a total NOOB that i am + is it really scary like i think?

Feeling fear when operating is very common and is manifested by many of the traders, especially when they are starting to trade with options, it is the fear of losing their money. How normal if you decide to invest your money is to give it a return, and not to lose it precisely

[Mir Hamza 2888]

You do not need to be thinking about online trading at all. You should not need to scared about it. You should not need to scared about online trading whether it is forex trading or it is a cryptocurrency trading. You just need to learn about it. You should need to gain knowledge first and then you should need to trade. You should also need to gain skills about it. You also need hardwork and do not to scared about it.

[Berenice Pereira 41]

It is a wrong attitude, for trading you must have a positive mind and trust your strategy until the end to have excellent results ...
 

[Brushless4500KV 4214]

On 10/9/2020 at 5:22 PM, DanielJay said:

I was scared too.

When I was newbie on trading that was really funny for me.

I sell at lowest price and buy at high price ever.

Now I try demon trade on Meta-4 trade for 6 months and I can control my emotions and get some profit too.

So don't be scare, trade on demon account and train your trading skill.

I think you are doing it completely wrong. You should do the opposite (buying at lowest and selling at highest!). To overcome your fear of trading, you can start with low capitals and only choose trades that give you lots of time for thinking and deciding (Don't involve yourself in trades which require fast reactions). For practicing, you can buy a coin with as low as $2 and try to exit your position without losses. This is what I did to learn trading. For example, I would buy $2 worth of bitcoin and try to increase it. Since I would play with low amounts of money, even if I would lose it, there would be no problem.

[Phongg224 33]

Everybody takes risk sometimes or the other. Even to put your money in the bank is a risky gesture. Why? You can lose all or some of it. I've seen it happen before. As for crypto currencies, if you want to make money on your investment, you need to take some risks. However, you will need some other attributes like money management skills, timing skills, non-greed skills. 

[Goyaa 2414]

Get rid of your fears because trading is not gambling. Trading is the best way to get crypto so in my opinion this method has a small risk when compared to gambling. The most important thing in trading is buying the right crypto like bitcoin, Ethereum or Litecoin.

[nguyenlambn 16]

Trying to understand trade is far better than being afraid, who dares to go into work that he fears will get extraordinary experience. you should not be scared of trading because there is nothing to be afraid of. Trading is a bit difficult but if you are patient and want to learn how to do it then it becomes something easy to do

[cooperallch 349]

It is normal to be afraid to negotiate in the beginning, but you need to lose that fear as it can be an obstacle for you to succeed with negotiation

[Yomose 3704]

On 10/12/2020 at 4:55 PM, elkaram said:

One must take risks to gain and gain wealth, and if fear prevails, then there is no profit in life

Fear do help in trading, if a beginner do not fear, that means he will likely use huge amount of money if he has it, but fear will let you think to not make a mistake. Confidence for newbies makes them fail a lot while fear let them go research for great ways to trade and make profit. 

[Jromz 2158]

The worst possible thing when doing trading is allowing emotions, such as being scared, to take control of us. If one has knowledge and experience in risk management and the different tools we can use for trading, such as technical analysis, there is not good reason for being scared, as we know in advance how much capital can we afford to lose in a trade in case the price doesn't adjust to our analysis. 

Edited November 12, 2020 by Jromz
grammar

[Abuzar hashmi 544]

Yes definitely you should to be scared during investment .All says that investment is directly proportional to profit but it's wrong it actually means that investment is.directly proportional to your luck.And lastly if you are a junior should to be scared.

[minisrt_black 1112]

if you want to continue trading then you need to remove the uncertainty because it can play a cruel joke

[Jandancoin 482]

It is good to be patient, and it is good to start the way you did, if a beginner do not fear but just start to trade, it will create another problem. Do not be afraid, you can start with low amount of money like $50 to understand more about it. 

[Ramz99737 1196]

Trading is easy, but it's also a little risky, there is no profit without risk, you must study the market well before starting to trade in order to avoid losing money.

[anisbouanaka 223]

all the Investments include a possibility of Risk but if you want to reduce this risk as possible you should learn and get knowledge.

don't be scared, just learn from Youtube and some online courses and go a head with trading^^

 

[Sherrybhai 385]

As in nowadays digital currencies is everything around us . If u have some digital currencies don't be shy to trade just follow the trading platform which a key to trade . It can be a website or an app which is trusted . U can trade over there simply change your currency points to other currency points . Like BTC to USD

[mias15a 1102]

I get really scared, when i am operating with huge amount of money. Of course, it is personal thing, what summ is huge, but its impossible for me to hold nerves.