Trading is one type of game of probability. In sports as we know everybody cannot win at a time but still all participates are in the hopes of winning the sports competition.
Same it goes with the trading because it’s really a game of probability where you cannot win all the time.
For winning a marathon which is only one day’s competition the person has to start practicing a months and year ago the competition and over come all the hurdles in between.
In the same way to become a successful trader one needs to struggle and has to pass through the bad time by losing some trades but , with the never to die attitude.
This never to die attitude will help you to get out of your each bad times and it will give you strength for going ahead with your trading.
Develop the habit of accepting some losing trades because it will not emotionally affect you and it will surely give you a great experience.
I would like to say that even I was a loser at one time, which than taught me how to become a winner in the market.
Same way almost all the successful trader who have also been passed through those times and then become successful , so it’s just a one type of phase or time, that everybody has to pass through in trading.
There are few points which will help you avoid fear of losing the trades.
Have pain but don’t get scared of it
I know it’s difficult to avoid the fear of losing the trades , as it brings pain and breaks the heart totally , emotionally with negative thoughts.
But I think that feeling is not to break you down but it’s just for analyzing that something which went wrong needs to be corrected.
When you lose trade and if you don’t get that pain of losing money it means you have become careless and you are over trading which is also wrong attitude.
You need to have a little pain or the burning sensation somewhere inside in your heart for losing the trade, and I know there will no such trader in the world not feeling bad on losing a trade.
But don’t get into the fear of losing as having pain and fear are the two different things and the successful trader is only one who try to lose with never to give up attitude.
Try to keep your feelings separate from your fear
For keeping your feelings separate from your emotions , you need to first find out the causes of your fear for trading than only you can become a consistent profitable trader.
The few common points which may cause fear are as follows
Risking too much money in the market
Many of the traders start developing the fear of trading because they start risking more money than the amount which they are comfortable in losing.
So it’s really advisable to risk only that much which you are OK in losing. If you take more risk it will surely affect your life and increase your tension and blood pressure.
You can’t bear to lose a trade
Many of the traders ask me that they want to become a full time trader and want to quit their jobs , but when I enquire I came to know that they have been trading since from few months only.
So for them who have only small trading accounts , they can’t bear losing the trade because their bread butter is fully depend on trading income. Due to this fear is automatically developed in trading.
Lack of confidence in trading
Confidence is one thing which can’t be learned and gained, it is the only thing which has to be developed from inside of the person.
Because others can only motivate , but how to boost your confidence level is in your pockets. One may be very confident even after losing a series of trade together , but one may totally lose the confidence after losing the series of trade together that’s the main difference between the successful trader and struggling trader.
Solution of the above are as follows
You should never risk more money in the market. Always calculate your risk and your risk should be digestible.
Don’t ever calculate the reward in percentages , as it doesn’t give the clear idea of the risk and reward amount exactly.
Keep calm yourself , don’t just run behind making money , Try to maintain your self-confidence and to learn more on management skills .You can join my price action course.
Happy Trading.
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