you need to overcome your fear of losing money - page 60.

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Quote from: iamTom123 on January 04, 2017, 07:06:25 AM

Quote from: dearbesz1219 on January 04, 2017, 12:37:00 AM

Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

You already answered your question dude, But let me give my answer's too. To overcome your fear its not just a part of our lives but it is a tail or twin of the life of the individuals. Meaning losing is like a grinding machine for us to be sharpen more in trading to become a successful trader.

Exactly. We always learn more with mistakes we made along the way. As someone said: "What does not kill you can make you a stronger person." Though losing can indeed be a heart-breaker, we can not afford not to move on and then gain what we lost.

Yes. Losing is part of trading I just wannaa share that in trading it's not about who will earn a lot first it's all about earning what you can bit by bit. So to became a successful trader you shoul fcus on yur self firat if you will loss inveat again until you reach the success. The lasring I want in trading is to earn while I am sleeping like other big time in trading so goodluck to all of us

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Quote from: dearbesz1219 on January 04, 2017, 12:37:00 AM

Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

You already answered your question dude, But let me give my answer's too. To overcome your fear its not just a part of our lives but it is a tail or twin of the life of the individuals. Meaning losing is like a grinding machine for us to be sharpen more in trading to become a successful trader.

Exactly. We always learn more with mistakes we made along the way. As someone said: "What does not kill you can make you a stronger person." Though losing can indeed be a heart-breaker, we can not afford not to move on and then gain what we lost.

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Quote from: mkmdoc on January 04, 2017, 04:16:39 AM

Quote from: wuvdoll on January 01, 2017, 02:15:12 PM

Quote from: Sled on December 28, 2016, 08:41:31 AM

Yes we need to overcome our fear of losing money because if we did that then it would be easy for us to stop worrying on our losses and just focus in recover those loss. If you overcome your fear then you will be more comfortable on doing a certain kind of things. Don't be afraid of losses because losses are same as lessons which can help you to be a stronger and wiser person.

If you want to become a great trader then you need to be broad minded and always prepare yourself mind to admit the lost you made in trading, and not to lose heart, you have to continue with your own strategy and always thinking about how to change your trading into profitable trading.

Yes you are right there is no need of any trading classes to learn, it can be done only through experience of loosing money in trading. Every beginner will have to think twice before proceeding to trading, if you are ready to loose go for trading because with out loosing you can't succeed.

It is true that you just need a basic knowledge to start trading because it all comes down to experince in the end since you have to always watch the

market and make predictions. Some people reads a lot/study a lot about trading because of the fear of losing money, You don't wanna go to battlefield

without weapons and strategies right?

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Quote from: wuvdoll on January 01, 2017, 02:15:12 PM

Quote from: Sled on December 28, 2016, 08:41:31 AM

Yes we need to overcome our fear of losing money because if we did that then it would be easy for us to stop worrying on our losses and just focus in recover those loss. If you overcome your fear then you will be more comfortable on doing a certain kind of things. Don't be afraid of losses because losses are same as lessons which can help you to be a stronger and wiser person.

If you want to become a great trader then you need to be broad minded and always prepare yourself mind to admit the lost you made in trading, and not to lose heart, you have to continue with your own strategy and always thinking about how to change your trading into profitable trading.

Yes you are right there is no need of any trading classes to learn, it can be done only through experience of loosing money in trading. Every beginner will have to think twice before proceeding to trading, if you are ready to loose go for trading because with out loosing you can't succeed.

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Quote from: n0ne on January 04, 2017, 01:14:33 AM

Yeah, for a newbie to get into trading investment plays role to some extent. Small investment is first good as mentioned by above mate, because he's not sure whether he'll be successful or not. If unsuccessful the loss will be low.

I think that saying not succesfull is just not fit well in this thing, i could honestly prefer the use of "not yet" words because if you're only trying once and with small amount then it can't be considered as a factor to determine whether you're going to be succesfull or not,you must keep trying because it's rare for someone to be succesfull on the first try

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Quote from: deisik on January 03, 2017, 09:25:08 AM

The sad truth is that people don't actually learn from the mistakes of others overall. Indeed, in some fields this is not quite so (e.g. if you see someone eaten by a shark in a pool, you will obviously refrain from swimming there), but in trading it is even worse than that. People do not only fail to learn from the mistakes of others, they don't even learn from their own mistakes, repeating the same mistake over and over again, which is pretty much bordering on insanity as Albert Einstein said ("doing the same thing over and over again and expecting different results")...

So before getting involved in trading for real, anyone should better find out if they can actually learn anything at all from their mistakes

This problem lies very deep. It's in design of mind of human beings. This is the case why only small percent of people can consistently make money in trading.

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You are right. It is hard but it helps.
How about losing just a little for starters. Create a wallet to where it limits to what number you could just spend. The gambling wallet as how I look it. It's main purpose is just for gambling.

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Quote from: mrbigmugs on January 03, 2017, 04:47:06 PM

Quote from: BitSat on January 01, 2017, 02:24:40 PM

Quote from: SLaPShoCk on January 01, 2017, 10:48:50 AM

Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

The more you lose, the more you want to win. I have lost in trading but it made me a better trader , makes me wiser of what coins i will trade. I started to research more, read more bout crypto currencies etc. I am a altcoin trader though i want to learn binary too.

You are right I am also lost in my first attempt and now doing some work with my next goal because now I have to do some work for gaining profit because without research and analysis you cannot do any thing now I am also trading in altcoins and forex exchange field

if you are new in trading then you need to try to invest a small amount and such a big one, and after getting some experience and knowledge then you can invest a good amount for making more money in trading.

Yeah, for a newbie to get into trading investment plays role to some extent. Small investment is first good as mentioned by above mate, because he's not sure whether he'll be successful or not. If unsuccessful the loss will be low.

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Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

You already answered your question dude, But let me give my answer's too. To overcome your fear its not just a part of our lives but it is a tail or twin of the life of the individuals. Meaning losing is like a grinding machine for us to be sharpen more in trading to become a successful trader.

mrbigmugs

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Quote from: BitSat on January 01, 2017, 02:24:40 PM

Quote from: SLaPShoCk on January 01, 2017, 10:48:50 AM

Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

The more you lose, the more you want to win. I have lost in trading but it made me a better trader , makes me wiser of what coins i will trade. I started to research more, read more bout crypto currencies etc. I am a altcoin trader though i want to learn binary too.

You are right I am also lost in my first attempt and now doing some work with my next goal because now I have to do some work for gaining profit because without research and analysis you cannot do any thing now I am also trading in altcoins and forex exchange field

if you are new in trading then you need to try to invest a small amount and such a big one, and after getting some experience and knowledge then you can invest a good amount for making more money in trading.

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Quote from: Victorycoin on January 01, 2017, 09:48:01 AM

Quote from: deisik on December 28, 2016, 01:17:12 PM

Quote from: daringdiscovered on December 28, 2016, 09:40:33 AM

Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

I agree, no pain no gain. If you won't experience lose then you won't learn anything. Making mistake like losing can be acceptable once or twice because it taughts us a lesson so we will do better next time. If you won't make mistake you won't grow. You won't develop your skills in trading. Or other skills you have.

In fact, failure is not a required step for learning

In the wild, smaller animals learn their young how to hide from predators, and any failure would mean inevitable death for them. Indeed, some don't survive and got eaten in the end, but those which do survive obviously learn without going through any failures. Trading is not hunting or preying, and you can get off pretty cheap when you fail, but you shouldn't think that mistakes are totally unavoidable (even if they can't really be avoided). In other words, you should think more about success and not failure, how to avoid failure and not how to accept it

I think the way to put your suggestion in a brighter light is that a trader does not need to wait until they commit blonder before they learn from mistakes or failure. The best option is to learn from the mistakes of other traders or people already any business of interest and tap from their wealth of knowledge, because they obviously have been there and seen lot more

The sad truth is that people don't actually learn from the mistakes of others overall. Indeed, in some fields this is not quite so (e.g. if you see someone eaten by a shark in a pool, you will obviously refrain from swimming there), but in trading it is even worse than that. People do not only fail to learn from the mistakes of others, they don't even learn from their own mistakes, repeating the same mistake over and over again, which is pretty much bordering on insanity as Albert Einstein said ("doing the same thing over and over again and expecting different results")...

So before getting involved in trading for real, anyone should better find out if they can actually learn anything at all from their mistakes

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Quote from: BitFinnese on January 02, 2017, 03:31:18 PM

Quote from: wuvdoll on January 01, 2017, 02:15:12 PM

Quote from: Sled on December 28, 2016, 08:41:31 AM

Yes we need to overcome our fear of losing money because if we did that then it would be easy for us to stop worrying on our losses and just focus in recover those loss. If you overcome your fear then you will be more comfortable on doing a certain kind of things. Don't be afraid of losses because losses are same as lessons which can help you to be a stronger and wiser person.

If you want to become a great trader then you need to be broad minded and always prepare yourself mind to admit the lost you made in trading, and not to lose heart, you have to continue with your own strategy and always thinking about how to change your trading into profitable trading.

There is no harm in copying successful trading strategy

I think it is already proven so no need to reinvent the wheel just to test that strategy if it is ok or not. I also agree that it is better to lost some money in trading than losing your heart and belief in your skills and knowledge. Losing money can't be avoided during the learning curve, what matter is how you will emerge successful in your later trades.

One of the most important things about a trading strategy is if it's the right fit for the personality of the trader or not. There are plenty of working strategies out there but many require different magnitudes of patience and discipline that can be better or worse for different personalities .

Regarding losses, it should be looked at as any business. Part of trading is taking losses so it should be included as an expected event in your trading plan. Look at a food business as an example.. the food business owner needs to decide if they are going to buy expensive ingredients and sell fancy meals at a lower volume and expect X amount in thrown losses on any day or if they are going to buy cheap ingredients , sell high volume+low price and expect to throw X away every day. Then end result is a mix of making profit and take some loss to make it at a various paces. A trade plan is no different in concept but its pnl cycle is 100X faster

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Quote from: wuvdoll on January 01, 2017, 02:15:12 PM

Quote from: Sled on December 28, 2016, 08:41:31 AM

Yes we need to overcome our fear of losing money because if we did that then it would be easy for us to stop worrying on our losses and just focus in recover those loss. If you overcome your fear then you will be more comfortable on doing a certain kind of things. Don't be afraid of losses because losses are same as lessons which can help you to be a stronger and wiser person.

If you want to become a great trader then you need to be broad minded and always prepare yourself mind to admit the lost you made in trading, and not to lose heart, you have to continue with your own strategy and always thinking about how to change your trading into profitable trading.

There is no harm in copying successful trading strategy

I think it is already proven so no need to reinvent the wheel just to test that strategy if it is ok or not. I also agree that it is better to lost some money in trading than losing your heart and belief in your skills and knowledge. Losing money can't be avoided during the learning curve, what matter is how you will emerge successful in your later trades.

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Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

This is the hard part since losing makes u miserable and you start second guessing your trades and losing more. When your winning then I find you take more of a risk and sometimes it pays off well. This is good advice.

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Quote from: BitSat on January 01, 2017, 02:24:40 PM

Quote from: SLaPShoCk on January 01, 2017, 10:48:50 AM

Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

The more you lose, the more you want to win. I have lost in trading but it made me a better trader , makes me wiser of what coins i will trade. I started to research more, read more bout crypto currencies etc. I am a altcoin trader though i want to learn binary too.

You are right I am also lost in my first attempt and now doing some work with my next goal because now I have to do some work for gaining profit because without research and analysis you cannot do any thing now I am also trading in altcoins and forex exchange field

Well as they say, experience is the best teacher and these mistakes would teach us a lot. Fortunately for me, I did have an experienced trader teaching me about altcoins and when would be the best time to buy and sell. Although of course, I still lost quite a number of btcs but hey as of the moment I've earned more than what I've lost.

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Quote from: virasog on January 01, 2017, 09:02:33 AM

Quote from: thisappointed on December 22, 2016, 08:54:50 AM

Very true, because how would you know that you are going to be successful if you are not going to try to be one?,
how would you earn money if you are afraid of being scam? Risking is the key for us to know what would happen,
maybe we have been scammed but it doesn't mean that it will always happen. Just always take the risk to know everything that you wanted to know, don't be afraid.

For being scammed by people are normal especially if you trust to much and easy to people just to earn money. Sometime people will just get your money and scrammed but then from that way you learned, so on that situation you will always remember that you do not need to trust fast so you will not lose money that fast too.

Well, this is something common, especially in the cryptocurrency space, but it's definitely not something normal. People should avoid at all cost potential scams, such as almost all cloud mining websites, hyip and other forms of ponzi schemes. Knowledge and research always helps in this case.

BitSat

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Quote from: SLaPShoCk on January 01, 2017, 10:48:50 AM

Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

The more you lose, the more you want to win. I have lost in trading but it made me a better trader , makes me wiser of what coins i will trade. I started to research more, read more bout crypto currencies etc. I am a altcoin trader though i want to learn binary too.

You are right I am also lost in my first attempt and now doing some work with my next goal because now I have to do some work for gaining profit because without research and analysis you cannot do any thing now I am also trading in altcoins and forex exchange field

wuvdoll

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Quote from: Sled on December 28, 2016, 08:41:31 AM

Yes we need to overcome our fear of losing money because if we did that then it would be easy for us to stop worrying on our losses and just focus in recover those loss. If you overcome your fear then you will be more comfortable on doing a certain kind of things. Don't be afraid of losses because losses are same as lessons which can help you to be a stronger and wiser person.

If you want to become a great trader then you need to be broad minded and always prepare yourself mind to admit the lost you made in trading, and not to lose heart, you have to continue with your own strategy and always thinking about how to change your trading into profitable trading.

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Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

The more you lose, the more you want to win. I have lost in trading but it made me a better trader , makes me wiser of what coins i will trade. I started to research more, read more bout crypto currencies etc. I am a altcoin trader though i want to learn binary too.

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Quote from: deisik on December 28, 2016, 01:17:12 PM

Quote from: daringdiscovered on December 28, 2016, 09:40:33 AM

Quote from: Idrisu on December 03, 2016, 02:33:11 PM

Losing is part of successfully trading. If you treat losing as part of trading then you are an experienced trader.

I agree, no pain no gain. If you won't experience lose then you won't learn anything. Making mistake like losing can be acceptable once or twice because it taughts us a lesson so we will do better next time. If you won't make mistake you won't grow. You won't develop your skills in trading. Or other skills you have.

In fact, failure is not a required step for learning

In the wild, smaller animals learn their young how to hide from predators, and any failure would mean inevitable death for them. Indeed, some don't survive and got eaten in the end, but those which do survive obviously learn without going through any failures. Trading is not hunting or preying, and you can get off pretty cheap when you fail, but you shouldn't think that mistakes are totally unavoidable (even if they can't really be avoided). In other words, you should think more about success and not failure, how to avoid failure and not how to accept it

I think the way to put your suggestion in a brighter light is that a trader does not need to wait until they commit blonder before they learn from mistakes or failure. The best option is to learn from the mistakes of other traders or people already any business of interest and tap from their wealth of knowledge, because they obviously have been there and seen lot more.

The university of hard knock is one school many people never make it to graduation, because the experience often comes down very devastating. One thing that needs pointing out though is that, the hunger to learn and learn real well is the ultimate decider of what losing turns out for a trader. The fear of it does little or nothing to stall it from happening because losing is inevitable in this market. Something to note of successful traders is the fact that losing is not final and so are prepared to manage them whenever they show up even from the unset of their trading.

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