Topic: Fear : The Debacle of a Trader - page 4. (Read 641 times)

When it comes to investing in trading strategies to get good returns from traders you must wait patiently. If you can't control your emotions you will be at risk and lose everything therefore you have to invest and hold on until the price goes up even if the price of cryptocurrencies goes down it will go up again we have to move forward with faith. The bull run is slowly taking place in the market and the prices of the currencies are going up so long term investment is needed if there is a possibility of more damage it is better to keep it closed for now.

Fear of looking out to your coin going to zero. This has been one of the greatest FUD in my opinion years ago. When people talking about bitcoin going to zero and applied it as well for the other good coins.

But for the traders, they can do something to solve this as they're always watching out to the market. Luck isn't a big thing in the market and I agree to you that traders and investors shouldn't depend on it.

If you are referring to opening post, I don't think I can see the abbreviations used there. Meanwhile, FOMO is not new to traders and for the other abbreviations you pointed, they are not found on the open post, do where did you find FFNYT or FONMTM as abbreviations?
If you mean"Fear of not milking the market
" as FONMTM, well you decided to abbreviate it as such, I wasn't looking at abbreviating though.

Please lets not confuse begginers more rather to help and guide.

Not into some motivational quotes but we can all say that the summary of being a trader whether you are losing or winning is subjective depending on the tools, strategy, personality, and schedule you currently have. These "debacles" and the solution for these problems may be simple but in reality, applying these tricks would take a lot of courage and experiences to master.

Just want to share this post in twitter that I found a few days ago. Hope this helps and inspires you for another long day of trading.



Source: https://twitter.com/CJT2013/status/1390728136808009729/photo/1

After reading this, I realized that there are a lot of things that are evolving for us. A lot of terms are now popping up. The most common one is FOMO, and now you have (number #1 in your list) FOLO or FOLOIAT. You are renaming FOMO into FFNYT. FONMTM is just taking the terms broader. It's getting funnier and funnier with the different abbreviations.

Everyone has different ways of dealing with these so-called fears and learning how to deal with your own while learning how others cope up is a great way to solve those issues.

1. Did it happen to me? Yep back in the days. Day trading days. It was hella rough because I was keeping on buying a lot of coins to trade at. One I notably remember was ADA and you know the top 2. I bought a lot and turned on my indicator. Just watched as my trades go down miserably.

2. Could apply to me when I was misinterpreting Bitcoin back in the days.

3. I am kind of long term trader so this kind of not applying to me, but it could be at some point that I take the opportunity to sell a little bit from my portfolio whenever the opportunity comes up to sell. Although most of the time I hodl.

One of the most important thing that you should know is to handle out ones emotion because this factor could really affect your trades in any angle not only
with the decisions that you would make but also into the ways on how you would execute your trades.

When you do gain experience this is the primary thing that you would really able to develop or enhance as you do engage with the market on where you would really get used to engage with moving prices and its normal that you would really be that emotional.

When fear is starting to creep out specially on dumping or seeing your portfolio in reds then thats the time you would surely panic but if you do have some experience then you would able to handle it out.

Managing one's emotion is a very vital skill in trading that a lot of people overlook when trading cryptocurrencies. But it doesn't have to be that way. Having a trading plan is one way to manage one's emotion since you always want to stick to the plan regardless of what happens. Which is a very hard thing to do. Most situations make it difficult to stick to our trading plan. If we are able to take care of our emotions and follow trading rules, trading should  would be a lot more profitable but like I said, it's a difficult skill to learn.

Well explained, the main difference is mental control between gamblers and traders. Some traders ignore the main plan and go for risky leveraged trades due to greed or fear of missing out potential opportunities. Having a trading plan and avoiding accepting risky trades will not guarantee high returns on investments but it also avoids the deep losses in long term. Experienced traders can manage the emotions and they know there will be other opportunities if they miss one.

Some people actually gamble on trades! It might shock or surprise you as to how can this be, where does it happen but yes, it does happen. Even if you don't seem to observe it.

Gambling in trades is when you actually jump in a tradeable take a position without some obvious analysis. Most people who fail in trades are victims of this sort of strategy, they just jump on and start hoping for the best without any prior knowledge of that markets condition for the day. Its really wrong.

You can never over come fear with that sort of trading pattern. Each step along the line, it builds up because, nothing is ever sure to you. Its just a trier and error, hoping you get lucky.

I feel this you said as your challenge. I suggest to you to reduce your risk to profit, try little trades to build your confidence level and keep studying your strategy with time your FOMO will go away.

Always remember in trade that you either lose or profit, you have this in mind always and allow your trade to run as you have analyzed. Price won't start going your way most times.

Avoid multiple trading and entering same trade multiple times because you don't need to "fight" the market. Good luck to us all as we keep learning from each other.

Now that's exactly what's happening to me in these days. I am always in a FOMO. I plan my strategy and I wait for my entry point.
But as soon as the price goes a little down after buying I exit the trade. This happened almost 4-5 times now and I have exited the trade sucking up losses.
Yeah I know it's completely my mistake but I am trying to control my fear. I know I will overcome the fear soon and start sticking to my strategies.
Thanks for making this post and motivating traders like me.

Experience is the best teacher. This applies to traders too. Indeed, some people have different abilities but whoever it is if he wants to know and is willing to learn he will succeed. Likewise with trading, if all this time you depend on other people's signals then that's bad. You need to learn to be independent, understand what you are doing and not depend on others.

I think that it is even better to be self taught than depending on someone for copy trade or call groups that are not realistic. Most successful traders have been those that are self taught and that can be because of the rise and fall witnessed in trying to master the market with that you gain more and better experience in analysis and reading market movement also. Learning by ourselves is better and good but we need to do that gradually with little capital or demo trade like in Forex trading.

Did you know that as long as we are engaged in crypto trading, we are not only looking for trading strategies, as stated in the thread, we also often look for videos, articles with examples of keywords "how to become a reliable trader and can control emotions when trading so as not to panic" . how nostalgic we were on this day and it can't be forgotten until now.

it's true, how many tips, ways to forgive and all methods to feel safe in trading are done. but to be honest it was not easy for us who were only self-taught at that time. it is experience that has given valuable lessons that there is no right method unless you have to go through a long experience to get to this point.

I would not limit this to (Forex) trading only, but this applies everywhere where you want to win something and hope to gain an advantage (increase of money, defeat an opponent, ...). You can see this very well in sports, for example, as soon as a tennis player throws away his nerves and lets his emotions get control over him, he will most likely lose.

It is no different in trading and a total control of one's own emotions (fear, euphoria, ...) is extremely important to avoid short-circuit actions and to end up with a loss.

And don't forget why you are there for. Profits.
Falling in love with coins that keeps on rising that looks like it has no end could also be a risk.
I have made that kind of error because of sweet words from following their telegram group.
I didn't realize I was already holding the coin for a long time and forgot that I should be selling and buying it.
Most of the errors come from that case, and I think staying away from it could also help to keep the plan in a straight path.

The scenarios OP described here can easily be likened to what happens in forex trading and it's apt. When that fear mixes with excitement (of winning in a trade), it becomes emotion. Emotion is the greatest problem traders have, not even faulty trading plans. When active trades don't hit the spot traders want them to (even when they will eventually do) it causes most emotional traders to abandon their trading plans. Number one on the quoted list is called FOMO in crypto parlance. The first thing every trader has to get rid of should be fear at all levels before risking that capital.

For a trader in this business, fear is a big treat to your winning or losing a trade and whether you like it or not, it is there in our daily trading but it is in different degrees.
Sometimes fear helps you to be happy at the end of the close of trade by the time it pushes you not to click the trigger of sell or buy which later turned that it would have been a lost trade and likewise while you didn't trigger the buttons and it turned out to be a profit trade and you go regretting, that is what fear can do both ways.

FEAR IN DIFFERENT LEVELS

1. Fear of losing out in a trade: This kind of fear is the type that makes your fingers nostalgic or feeble until you trigger the order. The reason you eventually trigger it is because you feel you don't want to stay outside the trade while it "builds profit" but the funny thing about this is that most times when you rush in into such trigger, the market direction immediately changes against you 
Lol, does it happen to you? And the next minutes you are out in loss. Fear factor right ? It pushes you here and there, not good for trade.

2  Fear from not taking your chance: This is another level of fear for me as a learning trader. This level, you see glaring chance to make good trade on a short time but you are not sure whether to go in .

3. Fear of not milking the market: See as a trader, there are times that the market present you an opportunity to take back if not all your losses for the week but a reasonable amount of it but that fear of reversal of direction won't allow you to stay longer and fill up your profit adequately. You rather choose to run out and you watch like a cat outside while price keep filling your existed direction. That's fear, unfortunately you regret outside.

SOLUTIONS TO FEAR IN TRADE

1. Be stable and determine to take your chance based on your strategy. Stable and determined in sense you don't just trigger when you are not suppose to do and to trigger when you are to do so.

2  Don't depend on luck: Trading is different from gambling. Trading has all the guidelines you need in fundamental and technical analysis

3. How to get in and out: You need to understand your trading strategy, know if and follow it, that small voice that guides you and your pattern needs to be followed

4. Don't forget your money management and stop loss: This point is important, I have seen a trade in profit without analysis but you are not scared because you have applied this point and have put exactly how many percent of your capital you want to risk in the trade.