The 4 trading fears and how to overcome them - page 2.

Lanatsa

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Quote from: Alisha-k on February 18, 2023, 11:42:16 AM

Be ready and open to risk, I doubt there's any trader who hasn't at one time in their trading journey experienced lose or taken unavoidable risk.

If you must be a trader, please be open to risk, trade with caution no doubt but let your consciousness not not blind you to the point that you avoid risk that may turn out to your favour

Plus you should learn up from those mistakes and errors that you had committed along the way on which it would really be that crucial on your learning curve and make yourself to be a better trader.
Fear and hesitance is really that very common on which you would really be needing to overcome it because we do know that it would really be resulting into more mistakes
if you cant able to handle it out.

On first tries or when you are just starting then it would be that normal but as time goes by then you would really be having the idea on how to deal up with things
and this is where you do gradually remove out that fear but dont expect that it would be 100%. Even professional and veterans do experience fear
on certain market conditions.

abel1337

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Quote from: Alisha-k on February 18, 2023, 11:42:16 AM

Be ready and open to risk, I doubt there's any trader who hasn't at one time in their trading journey experienced lose or taken unavoidable risk.

If you must be a trader, please be open to risk, trade with caution no doubt but let your consciousness not not blind you to the point that you avoid risk that may turn out to your favour

Yep, Risk is unavoidable and risk always exist in doing financial moves like trading. There are no successful trader that haven't experienced risky things or even risky trades, those fears are conquered before successful trader make a sustainable profits. The fears that we experienced as a trader is building up as a strong path toward being successful. This is why we have trading psychology. Not over coming those fears and risk will only turn you into a temporary, a losing trader or no future on trading. Playing it safe sometimes gives us regrets and those regrets can turn into being aggressive which makes traders do wrong decisions.

Alisha-k

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Be ready and open to risk, I doubt there's any trader who hasn't at one time in their trading journey experienced lose or taken unavoidable risk.

If you must be a trader, please be open to risk, trade with caution no doubt but let your consciousness not not blind you to the point that you avoid risk that may turn out to your favour

jokers10

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Quote from: Vaculin on February 17, 2023, 01:30:40 PM

...
But if you are a responsible trader and has equipped knowledge and skills to trade, then why fear of losing?
...

I guess that those ones who are already responsible, experienced and skillful has overcome their basic trading fears long ago, otherwise they wouldn't be so professional. May be I'm wrong but I think we talk about challenges for majority in this topic and I guess most of us are not so outstanding in trading or investing and that's why we want to learn harder and to know which underwater stones can be on our further way. And true professionals can read such topics for fun I guess, hardly to learn about their fears. Grin

Vaculin

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Winding down.

Quote from: AicecreaME on February 10, 2023, 08:58:25 AM

Fear of losing money and fear of missing out are the common fears I believe that most of the new traders have.

They want to earn a lot of profits but they don't want to risk their money at the same time, which contradicts everything. While fear of missing out is that they are being jealous to a friend trader who just made a lot of profits in a single trade of a certain coin so he will instantly put his money on that certain coin and expecting to make a lot of profit as well even know he doesn't even know its current situation.

You won’t be profitable in the end if you are unlikely to spend some of your money because you are afraid to lose them all. Of course, you will lose them especially if you trade without good preparation. But if you are a responsible trader and has equipped knowledge and skills to trade, then why fear of losing? However, this FOMO is eventually not a good practice whether it’s trading or investing. Everything should follow a good plan, that’s why you have to set your own timeline and goal before you start to put it into action.

indah rezqi

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Quote from: Cling18 on February 17, 2023, 12:33:41 PM

Trading has risks but unlike gambling, its risk is managable especially if we are fully equipped with knowledge and understanding of its fundamentals. Fear is normal but we have to deal with the volatility of the market wisely. We shouldn't let our fear overtake or rule over our emotions or else we will end up making messy decisions which can lead to losses.

How to deal with trading problems or rather the fear of risk will be very different from one user to another. You could say having sufficient knowledge is the best way to avoid risks, but it seems clear to me that this is a theory that not everyone can have.

There is no solution that will truly help all traders to gain the same experience in trading whereas when traders understand that only doing for what they can afford to lose and being responsible for anything then it will only make them better. Fear of loss is normal, but if they are afraid of volatility then they are clearly not suitable for crypto investing.

Cling18

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Quote from: Nrcewker on February 17, 2023, 11:24:19 AM

Trading is almost similar to gambling, but here the risk involved is comparatively less. Now when you invest anywhere your hard earned money, then there is risk surrounding you. Now all the fears that OP have mentioned is about money only. So one can only overcome this, if you are rich or you have plenty of money to spend. But if you can’t afford to lose, then trading is not the right option for you. Invest your money in FDs or SIPs. Moreover you can minimise the risk in trading, if you choose the coin wisely and invest on stable coins.

Trading has risks but unlike gambling, its risk is managable especially if we are fully equipped with knowledge and understanding of its fundamentals. Fear is normal but we have to deal with the volatility of the market wisely. We shouldn't let our fear overtake or rule over our emotions or else we will end up making messy decisions which can lead to losses.

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Quote from: Strongkored on February 17, 2023, 12:17:32 AM

Losing money is not fun but sometimes it is necessary in our trading, an example of allowing to lose money is to cut losses or when traders set stop losses, experienced traders know that when to cut losses is to avoid bigger losses and so they can start new trades to return to target profits, so losing money is scary but impossible for traders to never experience losing money at all.

I wouldn't say it's a "must" but it is a tool that you could use that's true. There are people who use stop loss to make sure they don't lose too much, but there are people who do DCA to make sure they lose nothing and willing to wait longer.

I know that DCA is not a trading method and it's a bit more of a long term thing, but if it recovers quickly then it becomes a trading method. I feel like any trader who worths their salt would tell you that losses are unavoidable and you will make some along the way, it is however everyone's goal to make more profit then they make a loss, if you made 1k but lost 500, that's fine, you are still in the green.

Nrcewker

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Trading is almost similar to gambling, but here the risk involved is comparatively less. Now when you invest anywhere your hard earned money, then there is risk surrounding you. Now all the fears that OP have mentioned is about money only. So one can only overcome this, if you are rich or you have plenty of money to spend. But if you can’t afford to lose, then trading is not the right option for you. Invest your money in FDs or SIPs. Moreover you can minimise the risk in trading, if you choose the coin wisely and invest on stable coins.

MFahad

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fear is the major obstacle in someone's successful way because if a person think that he cannot do it then becoming a successful man sometimes become difficult as all the activities are related to thoughts. Anybody who wants a fruitful future should avoid all of the hazards and should overcome the difficulties comes in the way.

Do according to the trading strategies and work laboriously will be helpful, also sure about your determination and traders should not think about fear. focusing on major goal will overcome all of your worries if you just don't care about your emotions, fear and worries.

YOSHIE

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Quote from: thecryptogandalf on February 02, 2023, 07:55:26 AM

The four main fears that traders face can have a significant impact on our success in the markets. However, with the right approach and mindset, these fears can be overcome and transformed into positive drivers for our trading.

What did you mention the four fears that everything is 'theory' in practice crypto trading will overcome and answer all things, I have been trading in the crypto market almost every day with the Futures method, Margin and Sport, trading must have proper knowledge of the market, analysis, strategies, predictions, volumes and so on, if you want to be successful in trading in the crypto market.

Talking is easy, doing is the hardest, all the theories you mentioned are felt by everyone who trades crypto, whether it's risk, loss of money, focus, FOMO, fear and so on, you can't overcome all that, if you do not have experience and knowledge in trading, trading on your own crypto market determines the clockwise direction and movement, based on the knowledge and experience you have, if you don't have all of that, the theory doesn't work as your trading time goes by.

AbuBhakar

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Quote from: stomachgrowls on February 16, 2023, 05:14:27 PM

.Fear of being wrong:

When im just starting on my trading career then i do have this kind of fear on which im really that hesitant on trying out to apply my own analysis because im afraid that it would turn out to be a mistake
or error which would case up loss of money.Sooner or later you would be able to realize that you cant really be able to succeed if you wont really be risking something and this should really be the mindset you do have.
It is really that normal that you would be having doubts and hesitation specially when you are just starting up and its something that cant really be avoided.
Overcoming them is via those real experience that you would really be able to gain up along the way.

It will take a lot of courage to be able to succeed in trading, the first try and year will be full of doubts and we need to overcome it if we want to pursue trading, I try different methods of different users that upload their ways in YouTube even in books but didn't works on me, but help me to identify what method can help me by trying them, we will need to seek some advice from expert but it's truly in experience that we will be able to discover what method suits best on us and what startaegy will give us profit.

mvdheuvel1983

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Every trader has and definitely would have felt these fears in them which often hinders their business minds. The fear of being wrong has made many traders to not follow their intuition to invest. In addition, if one allows the fear of being wrong to overtake them, they will play it too safe or stay in their comfort zone which will result in a delay in achieving one's goal. I say, make mistakes, be wrong, learn from your mistakes and make it right.

As a trader, to overcome these trading fears, practice good trading habits and have a fail-proof strategy(ies). Ensure thar you stick to the trading rules you set for yourself. Adopt a mindset of focusing on the long-term, it may not be easy but with determination and self-motivation, you will reach your goals.

Strongkored

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Quote from: AicecreaME on February 10, 2023, 08:58:25 AM

Fear of losing money and fear of missing out are the common fears I believe that most of the new traders have.

They want to earn a lot of profits but they don't want to risk their money at the same time, which contradicts everything. While fear of missing out is that they are being jealous to a friend trader who just made a lot of profits in a single trade of a certain coin so he will instantly put his money on that certain coin and expecting to make a lot of profit as well even know he doesn't even know its current situation.

Losing money is not fun but sometimes it is necessary in our trading, an example of allowing to lose money is to cut losses or when traders set stop losses, experienced traders know that when to cut losses is to avoid bigger losses and so they can start new trades to return to target profits, so losing money is scary but impossible for traders to never experience losing money at all.

lienfaye

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Quote from: AicecreaME on February 10, 2023, 08:58:25 AM

Fear of losing money and fear of missing out are the common fears I believe that most of the new traders have.

Indeed. Who don't fear losing money? Even an experienced traders don't want it to happen but sometimes it's inevitable, even we're careful to prevent it from happening. That's why we need to be knowledgeable on what we're doing to avoid mistakes resulting to losses.

On the other side, FOMO usually influenced the newbies because they tend to go with the flow without deep understanding, most of them are a fan of influencers spreading unreliable information. Trading is not easy so it's a must to fill our minds with knowledge first before deciding to try it. Don't have high expectation and always prepare ourselves incase something didn't go as planned.

jokers10

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Quote from: bitgolden on February 16, 2023, 03:46:01 PM

That type of experience that makes you underestimate the risks is not as common as the people who do not know the risks of trading end up taking. If you are highly experienced and you take risks in routine, yes there will be situations where you will underestimate the risks and not really care about it and that could make you lose some money.

However, if you are a newbie that means you may not even know how much risk you are taking and that is a lot more common for many people. This is why I try to be careful at any time, every single trade is a potential investment, because if it goes down, I do not sell and get out, I keep doing DCA until I am in profit. You live and you learn.

Well, I can only confirm that poor understanding of an economy is more common for majority and mistakes based on being too experienced happen much more rare. So of course mostly all of us should learn more and more but IMO we still should keep in mind that we never can be experienced enough to not to be worried about the result even a bit. Bigger experience usually goes hand in hand with much bigger mistakes. Hopefully I'm not enough experienced in trading or investing to make really huge mistakes. Of course all mistakes are painful, and some were very painful, but as a result they were they were not too painful, at summary.

boyptc

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Quote from: bitgolden on February 16, 2023, 03:46:01 PM

However, if you are a newbie that means you may not even know how much risk you are taking and that is a lot more common for many people. This is why I try to be careful at any time, every single trade is a potential investment, because if it goes down, I do not sell and get out, I keep doing DCA until I am in profit. You live and you learn.

I also don't sell when it goes down.

I am patient in terms of waiting at the right time and having experience in the past that when I sold not at the right moment. It's helpful to me now and that fear of losing money is still there.

FOMO, I don't get it this time as being patient and learning from it is making me calm now.

stomachgrowls

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.Fear of being wrong:

When im just starting on my trading career then i do have this kind of fear on which im really that hesitant on trying out to apply my own analysis because im afraid that it would turn out to be a mistake
or error which would case up loss of money.Sooner or later you would be able to realize that you cant really be able to succeed if you wont really be risking something and this should really be the mindset you do have.
It is really that normal that you would be having doubts and hesitation specially when you are just starting up and its something that cant really be avoided.
Overcoming them is via those real experience that you would really be able to gain up along the way.

Kelvinid

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FEARS are a hindrance to our success, not only in trading but also in other areas. The best thing to do this is to deal with them with courage and motivation and think that we can really do it. Because the more we think negatively, the more it weakens us. It can be changed as long as we know how to handle our emotions and of having someone that could help us. But if we let our fears and emotions control us, I guess we need not step out from trading and better look for another opportunity.

bitgolden

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Quote from: jokers10 on February 15, 2023, 08:25:29 PM

Probability theory teaches us that any impossible thing is possible, it's just about its chance: universe can disappear tomorrow, but the chance is so small that we don't really consider it. Lowering risk in a high risky fields is not the same as lowering risks in everyday life, they still stay bigger than we got used to in routine. We know lots of stories of professionals who failed exactly because they were too experienced and didn't expect some situation with low probability, but not low enough not to happen like universe disappearance. And trading is one of a fields where mistake probability is always high.

That type of experience that makes you underestimate the risks is not as common as the people who do not know the risks of trading end up taking. If you are highly experienced and you take risks in routine, yes there will be situations where you will underestimate the risks and not really care about it and that could make you lose some money.

However, if you are a newbie that means you may not even know how much risk you are taking and that is a lot more common for many people. This is why I try to be careful at any time, every single trade is a potential investment, because if it goes down, I do not sell and get out, I keep doing DCA until I am in profit. You live and you learn.

Topic: The 4 trading fears and how to overcome them - page 2. (Read 661 times)