The 4 trading fears and how to overcome them - page 3.

jokers10

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Quote from: palle11 on February 15, 2023, 11:43:55 AM

When it comes to trading and fear, I think the experienced traders know better how to handle it. They are more equipped in the trading strategy that can help them reduce or not to have fear in trading. What about if you have a limit to what you can lose, would you still have the fear? No I don't think so because you have already gone for the risk and staking out what you can lose. You can use stop loss in your trade and this is a way that you can take care of fear that is associated with losing of your money. Low risk also is another factor, take a lower risk then you are a little away from fear

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.

Mahanton

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Quote from: Oneandpure on February 15, 2023, 01:56:14 PM

Quote from: AicecreaME on February 10, 2023, 09:58:25 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.

I think new comer in cryptocurrency trading have applied with this mindset about huge profit will have huge risk, but many people make differences about trading mindset want to earn much profit but fear with how facing risk when Bitcoin or altcoin assets trading price dropped. Seems easy when gambler back to trading because their soul have been ready how to face risk with cryptocurrency trading without fear when bad thing happen later.

Fear losing money in cryptocurrency I think some of them not ready how to earn huge profit later in cryptocurrency, take care profit only without think risk waiting for later is fault mindset in trading.

When you are just new on which it would be that very common to have that bullish or positive impression that you could really deal up with the market easily on which you do even think that you are already that getting rich easily but on the time that you do have the taste on how this market behaves or works then this is where you do realize that its never been simple.Fear and anxiety and stress would be them main things that you would be experience out of this market.Overcoming them would really be depending on your personal experience and awareness.You would definitely be getting these things on the time that you do make out actual
engagement and able to attain skills and methods on how you do handle yourself on this very volatile market.

justdimin

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Quote from: wxa7115 on February 15, 2023, 01:52:34 AM

Quote from: jokers10 on February 11, 2023, 08:38:34 AM

Do you think that experienced traders are not prone to fear? I guess they'll make a lot of mistakes if so. Big fear is a foe which prevents earning, but no fear is a foe also: you can become careless and lose everything if you think that you are experienced enough to be sure in the market trends. Balance is a virtue... and how hard to find it! Grin

This, the goal should not be to somehow not feel any emotion while we trade, an impossibility as no matter what kind of training you undergo as a trader your emotions will always be there, but to control them and to make the most out of them.

If the price crashes and you feel some fear out of this downward movement then you can be sure there are many other traders feeling way more fear, once you realize this is easy to take the correct decision as instead of selling you will realize the right movement to make will be to buy instead.

I agree that it is not really about having zero emotions, it is about not to care about your emotions and ignore them when you are trading. Are you afraid? Will you trade based on your fear or will you ignore the fear? That is all that matters, if you can do that then emotions you feel do not matter at all, they are not part of the calculation.

However, if you let your emotions run through you and you end up working hard for it, then I would say it could ruin everything you have worked for and you would make a big loss, I would suggest highly against that as much as possible and it would be a lot better if you could completely ignore them.

Oneandpure

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Quote from: AicecreaME on February 10, 2023, 09:58:25 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.

I think new comer in cryptocurrency trading have applied with this mindset about huge profit will have huge risk, but many people make differences about trading mindset want to earn much profit but fear with how facing risk when Bitcoin or altcoin assets trading price dropped. Seems easy when gambler back to trading because their soul have been ready how to face risk with cryptocurrency trading without fear when bad thing happen later.

Fear losing money in cryptocurrency I think some of them not ready how to earn huge profit later in cryptocurrency, take care profit only without think risk waiting for later is fault mindset in trading.

death69

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Quote from: jokers10 on February 11, 2023, 08:38:34 AM

Quote from: AicecreaME on February 10, 2023, 09:58:25 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.

Do you think that experienced traders are not prone to fear? I guess they'll make a lot of mistakes if so. Big fear is a foe which prevents earning, but no fear is a foe also: you can become careless and lose everything if you think that you are experienced enough to be sure in the market trends. Balance is a virtue... and how hard to find it! Grin

Fear is a normal and expected feeling for any trader, and I agree that it can have a negative impact on performance. As a professional trader, I can say without a doubt that I have felt terrified on numerous occasions. But the secret to profitable trading is not to stop being afraid, but to master our fears and use them to our benefit. As a first step, we might remind ourselves that the feelings we're experiencing are shared by many other market participants. Anxiety can prompt some investors to sell during a market slump, which can further drive down prices. Knowing that other traders are nervous for the same reasons can help us make better selections and perhaps take advantage of the situation by purchasing assets at a bargain. Find a happy medium between worry and assurance, and be ready to limit your exposure to loss at any time. The ability to harness and direct one's emotions is a key trading skill Roll Eyes

palle11

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Quote from: jokers10 on February 11, 2023, 08:38:34 AM

Do you think that experienced traders are not prone to fear? I guess they'll make a lot of mistakes if so. Big fear is a foe which prevents earning, but no fear is a foe also: you can become careless and lose everything if you think that you are experienced enough to be sure in the market trends. Balance is a virtue... and how hard to find it! Grin

When it comes to trading and fear, I think the experienced traders know better how to handle it. They are more equipped in the trading strategy that can help them reduce or not to have fear in trading. What about if you have a limit to what you can lose, would you still have the fear? No I don't think so because you have already gone for the risk and staking out what you can lose. You can use stop loss in your trade and this is a way that you can take care of fear that is associated with losing of your money. Low risk also is another factor, take a lower risk then you are a little away from fear

wxa7115

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Quote from: jokers10 on February 11, 2023, 08:38:34 AM

Quote from: AicecreaME on February 10, 2023, 09:58:25 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.

Do you think that experienced traders are not prone to fear? I guess they'll make a lot of mistakes if so. Big fear is a foe which prevents earning, but no fear is a foe also: you can become careless and lose everything if you think that you are experienced enough to be sure in the market trends. Balance is a virtue... and how hard to find it! Grin

This, the goal should not be to somehow not feel any emotion while we trade, an impossibility as no matter what kind of training you undergo as a trader your emotions will always be there, but to control them and to make the most out of them.

If the price crashes and you feel some fear out of this downward movement then you can be sure there are many other traders feeling way more fear, once you realize this is easy to take the correct decision as instead of selling you will realize the right movement to make will be to buy instead.

jokers10

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Quote from: AicecreaME on February 10, 2023, 09:58:25 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.

Do you think that experienced traders are not prone to fear? I guess they'll make a lot of mistakes if so. Big fear is a foe which prevents earning, but no fear is a foe also: you can become careless and lose everything if you think that you are experienced enough to be sure in the market trends. Balance is a virtue... and how hard to find it! Grin

Bushdark

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Quote from: AicecreaME on February 10, 2023, 09:58:25 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.

The fear if losing money is one of the fear that people had been running from which supposed not to be so. We need to overcome the fear of losing for us to be a good and experienced trader. If we keep running from our fears, then how can we manage to move to the next level when there is something that is eating us up.

As a trader I do keep my mind set on if I lose now I will get it back later. The truth about trading is that, you can be a trader without having a bad day. You must have time when things are not going well in your life which is where the true experience comes. At least you will be able to tell the young one coming about you bad days which had been part of you and had make you to reach the current level that you are now.

Russlenat

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Quote from: bitgolden on February 06, 2023, 12:48:03 PM

Quote from: thecryptogandalf on February 02, 2023, 08:55:26 AM

By managing risks, having a clear exit strategy, and avoiding the temptation of FOMO, traders can overcome their fears and become successful. By embracing these fears, traders can make informed decisions, capitalize on opportunities and achieve their trading goals.

Yes, your suggestions to overcome all types of fear are sounding like a complete and practical ones for all beginners in crypto trading. In my experiences, if you want to trade confidently then you must need enough experiences and if you are really have seen similar market scenarios previously then you will never get afraid of it and can easily find right timing for good profits. It means knowledge and experiences are playing good role in overcoming fear factors.

Moreover, automate the trading process is kind of engaging bot to trading might be working only for few market conditions as one trading strategy cannot cover all different market conditions. I agree botting will help to overcome the fear but may not remain profitable through out years.

If you are a newbie in trading, you cannot expect to overcome all these fears because you are still on your own way of accumulating more knowledge and experience which will make you a good trader in the making. So just take it slowly and let yourself lose in trading, commit mistakes and be frustrated, because that’s the reality in trading. You will not learn to overcome those fears unless you never experience it. Eventually, when you have been trading for years and you have gained enough experiences already, then you would be able to slowly overcome them because you are now confident in your trading activities.

AicecreaME

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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.

taufik123

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Quote from: jaberwock on February 09, 2023, 07:33:01 AM

I think that FOMO isn't really a fear because FOMO means people are rushing to be involved on what is currently hot in the market. A true fear is when you are scared to do some things because you think it was too hard and it will cause you to fail, lose money or lose your life but some times we need to take risk to be able to grow as person and then we shouldn't be afraid if we fail as it was only part of the game or the process on improving our selves.

Taking risks is necessary because investments always come with risks and unexpected consequences. FOMO is one of the phenomena that often occur when novice investors are too confident and pressured by the continually rising trend. There is nothing to be feared about failing, but when FOMO happens, we also need to learn how to overcome it so as not to be trapped in a disadvantageous situation.

Quote from: jaberwock on February 09, 2023, 07:33:01 AM

Analysing can't totally stop FOMO because what if your analysis is the same to what others are FOMOing that this brand x coin is does truly have a potential but that wasn't wrong. FOMO only becomes wrong if you just do it blindly.

Blind FOMO is a situation where someone makes a decision based on FOMO without conducting thorough research and thinking, resulting in a disadvantageous decision.
In the context of investment, blind FOMO can cause someone to buy an asset at a high price out of fear of missing the trend, even if it may be a false trend or an overvalued asset.

Moreover, FOMO is also influenced by psychological factors such as the desire to be part of a group, fear of disappointment, and the desire to maximize profits.
The pressure to keep up with the market trend and not miss out on potential profits can drive individuals to make impulsive investment decisions, which can sometimes lead to losses.

jaberwock

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Quote from: Jatiluhung on February 08, 2023, 09:44:26 AM

but we need to know that to be completely free from FOMO (Fear of missing out) is very difficult for some people. I was in the initial phase of knowing Crypto, always trying to be better able to keep my emotions stable and so that I would avoid FOMO. However, sometimes I still get tempted. but then I realized that we become FOMO because of the lack of analysis we do. because if we spend more time doing analysis then it is indeed quite effective to avoid FOMO.

I think that FOMO isn't really a fear because FOMO means people are rushing to be involved on what is currently hot in the market. A true fear is when you are scared to do some things because you think it was too hard and it will cause you to fail, lose money or lose your life but some times we need to take risk to be able to grow as person and then we shouldn't be afraid if we fail as it was only part of the game or the process on improving our selves.

Analysing can't totally stop FOMO because what if your analysis is the same to what others are FOMOing that this brand x coin is does truly have a potential but that wasn't wrong. FOMO only becomes wrong if you just do it blindly.

Distinctin

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Quote from: Rengga Jati on February 03, 2023, 05:58:16 PM

Quote from: thecryptogandalf on February 02, 2023, 08:55:26 AM

1.Fear of being wrong:

The fear of being wrong is a common obstacle for traders who aim to be right all the time. However, this fear can prevent traders from making bold decisions necessary for success and lead to avoidance of risks, missed opportunities, or impulsive decisions based on emotions. Traders should embrace the possibility of being wrong, use it as an opportunity to learn, and turn it into a strength.

Actually, if we are able to manage this fear to be wrong, we can be more careful, wise, and selective in every consideration and decision to take. It is not really wrong at all to think like that because moreover the newbies or all of us will probably need certain analysis and ensure that our decision is not wrong. This is needed and much better than doing it in hurry with less carefulness. I know that being too afraid and too long to make any decision will probably make us lose our chance, but doing it without any consideration and even in still doubt will also not be good for us. So, it is better to be more careful.

I guess there’s no exception from committing wrong decisions especially that the trading market is always unpredictable, regardless if you are a newbie or veteran in trading. But the good thing about it, the more you become exposed to wrong decision making, the more you learned because of its consequences you experienced. And some even use these wrong decisions to become their challenges in trading, and they even become more motivated to learn for a successful and profitable trading experience in the future. So never fear of being wrong, because from there you can build your own character and strengths in trading.

Botnake

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Quote from: Pandu Geddon on February 03, 2023, 09:12:46 AM

Quote from: Fondarchand on February 03, 2023, 09:01:52 AM

One of the fear which you describe as fear of losing money is that fear due to which people loss large part of their money and if once they loss their money they does not learn but instead they leave trading, this is the big mistakes which most of the traders do.

it shows that novice traders started their trading without prior knowledge and learning. just following their instincts, or from a friend's suggestion to place a trade. It is a big risk, and when they do lose money, of course, more of the beginners will abandon trading and the market. they are afraid to return because of their own mistakes.

It’s always certain that if you start trading the wrong way, you can never expect for an outcome to turn the way how you imagine it. Of course, there will be possible mistakes and losses but they come as natural scenarios in trading so there’s nothing to fear with it. But if you continue to keep on doing the same mistakes again and not learning from them, then you will never be able to trade successfully. Success will only be achieved if you start correcting your mistakes and eventually change your mindset towards a successful trading.

irhact

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Quote from: AnonBitCoiner on February 06, 2023, 08:59:40 AM

Trading requires your time, your knowledge and skills, so get rid of all types of emotions which make hurdles in the way of your success. Emotions totally reduces the percentage of your profit so just ignore all your losses and try to understand that these are just a way to know more about trading.

Anyone who doesn't have control over their emotions shouldn't be trading in the first place. Emotions are among the greatest enemies of a trader. Because of emotions you could exit a trade very early than you initially planned which will reduced your profits or enter a trade without confirmation been made by the charts. As a newbie picking interest in trading, make sure you have undergone some training before you start practicing with real money.

When you don't learn before you start trading then your emotions will be making the decision for you. Trading should be totally dependent on the charts which is the movement of the market. And when you're having difficulties handling your emotions then fall back to trading in advance form with the use of automation like stop loss or automatic buy options instead of relying on manual.

wxa7115

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Quote from: Sanitough on February 08, 2023, 11:48:58 AM

That shows that these traders have developed wrong mindset about trading. Because if they want to succeed in trading, they should never be discouraged losing their money because of consistent mistakes in trading. Instead, they should be more motivated to learn more knowledge in trading and gather a lot of experiences so they can eventually correct their previous mistakes and lessen the risk of losing in trading. Trading should be learned the hard way that’s why trading itself requires extensive knowledge, skills and working strategies so that trading will never end at a loss.

The expectations they have are simply out of place, this is as if a boxer was afraid of being hit once the fight starts, anyone can tell that it does not matter if you are the best boxer that has ever lived, if you get inside a ring you are going to get hit.

And the same principle applies here, it does not matter if you are a skilled trader, once you make some trades losses are unavoidable and anyone that thinks differently is simply not being realistic about what they can achieve.

Adbitco

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2. Fear of losing money.
I think it's common to everyone and all beginners always encounter this phase while trading, it's unavoidable including me while I was putting more efforts on trading I realised that I am very much occupied and could not manage that aspect of it. Although I was using Demo account and I never made lost but getting to real account I noticed i couldn't control that part of lost so have restrategise and work on myself.

Sanitough

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Quote from: Pandu Geddon on February 03, 2023, 09:12:46 AM

Quote from: Fondarchand on February 03, 2023, 09:01:52 AM

One of the fear which you describe as fear of losing money is that fear due to which people loss large part of their money and if once they loss their money they does not learn but instead they leave trading, this is the big mistakes which most of the traders do.

it shows that novice traders started their trading without prior knowledge and learning. just following their instincts, or from a friend's suggestion to place a trade. It is a big risk, and when they do lose money, of course, more of the beginners will abandon trading and the market. they are afraid to return because of their own mistakes.

That shows that these traders have developed wrong mindset about trading. Because if they want to succeed in trading, they should never be discouraged losing their money because of consistent mistakes in trading. Instead, they should be more motivated to learn more knowledge in trading and gather a lot of experiences so they can eventually correct their previous mistakes and lessen the risk of losing in trading. Trading should be learned the hard way that’s why trading itself requires extensive knowledge, skills and working strategies so that trading will never end at a loss.

Jatiluhung

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but we need to know that to be completely free from FOMO (Fear of missing out) is very difficult for some people. I was in the initial phase of knowing Crypto, always trying to be better able to keep my emotions stable and so that I would avoid FOMO. However, sometimes I still get tempted. but then I realized that we become FOMO because of the lack of analysis we do. because if we spend more time doing analysis then it is indeed quite effective to avoid FOMO.

Topic: The 4 trading fears and how to overcome them - page 3. (Read 651 times)