How to get rid of fear in trading forex

[Daisy]

You can get rid of fear in trading if you increase your knowledge significantly. The more you have knowledge the better your emotions will be. You fear cause you are uncertain and don't know what is going on. If you know the fundamental then you will surely know what might happens and that will reduce your fear. Fear can be bad in scalping as you might exit trades too soon or entering at the wrong time cause you're impulsive and just want to trade. You can reduce fear also by using stop loss. Either way you can exit the trade or you will be taking out and losing 10 to 30 pips is not a biggie and its better than losing all of your money. You can also reduce fear by trading with the most popular pairs in 2 or more open market as there are more leverage in movements in your favor since the euro and usd tend to have profitable trends daily.

 

[tray]

You can get rid of fear in trading if you increase your knowledge significantly. The more you have knowledge the better your emotions will be. You fear cause you are uncertain and don't know what is going on. If you know the fundamental then you will surely know what might happens and that will reduce your fear. Fear can be bad in scalping as you might exit trades too soon or entering at the wrong time cause you're impulsive and just want to trade. You can reduce fear also by using stop loss. Either way you can exit the trade or you will be taking out and losing 10 to 30 pips is not a biggie and its better than losing all of your money. You can also reduce fear by trading with the most popular pairs in 2 or more open market as there are more leverage in movements in your favor since the euro and usd tend to have profitable trends daily.

well to get rid of fear in this business what I think its the best is that knowledge is part But the yltimate thing is decipline and determination when this two things is been matched together the trader get nothing but excess succees as per his want here

 

[Cutiekc]

So far so good, I see the getting rid of fear as something which is impossible because the emotion are inbuilt in us and as a human being we are emotional driven, so therefore, the optimal thing should have been increasing the confident level, which could be attained by making profit, which requires more knowledge and good strategies.

 

[Markllee30]

As per me the only way to get rid of from fear in trading forex is enhancing your knowledge as it is rightly said knowledge is power..the amount of knowledge we have..the amount of fear we can reduce.

 

[haneefzain]

There is some factors of fear always exists in forex business because it is the very unpredictable market..but you can reduce fear in this business by taking a proper training..

 

[Daisy]

There is some factors of fear always exists in forex business because it is the very unpredictable market..but you can reduce fear in this business by taking a proper training..

That is right, the market is so unpredictable that we will be fearing all the time and biting our finger nails as we watch our money bounces around. You just never know and its devastating when you lose. However, if you're experienced and have lost before you know the deal really well so you are more confident cause you can predict just what might happen to your trade a lot of time. The more controlling factors you put in your trade the less you fear. If you trade in a really good market and the pairs is popular and you bought it low and you're doing long term trade then there is less you have to fear for your trades. However, scalping is just a very emotional experience.

 

[gkintl]

There is no possibility of getting rid of fear totally. A reasonable amount of fear should exist within a trader. Only then stop loss and take profit facility will be used by him. On the other hand, too much fear indicates lack of confidence in the trading strategy. That is where a demo account comes handy. The trader should develop a formidable trading strategy and test the same thoroughly. This would enable him to place trades without fear.

 

[Decub]

Constant practice can guarantee some degree of limitation when it comes to Forex. Doing that which you do almost on a daily basis makes you get a hold of it to some extent and sometimes, you might just see it as that which you've been doing and there would only be two things involved: either you lose or you gain. Traders can limit fear if they practice more often either in the real or Demo account.

 

[haneefzain]

Fear will always exists in Forex..because it is most risky and unpredictable business..so fear of losing money always exits in traders mind..but trader can reduce it by learning and getting more experience...

 

[hasan87]

Fear in Forex is very common in most of the trader. It may lead you to a great lose. But any one can reduce or remove this fear by getting or acquiring proper knowledge and enough experienced. You know the a newbie fears more than an experienced trader. When he become experienced his fears also become reduced or removed.

 

[Daisy]

Constant practice can guarantee some degree of limitation when it comes to Forex. Doing that which you do almost on a daily basis makes you get a hold of it to some extent and sometimes, you might just see it as that which you've been doing and there would only be two things involved: either you lose or you gain. Traders can limit fear if they practice more often either in the real or Demo account.

I think practicing in a demo or a micro account will help newbie a lot. It will help eliminates uncertainty and risks and the unknown in the market. I mean there are so many patterns in forex and if you gain experiences with trades you will spot them and they will help you reduce your fear. I think a twenty years trader will tell you to practice and make observations. I think the more you know the less you worry.

 

[riddick09]

Although, they don't feel or have emotion when trading in demo it mainly focuses in the trading strategy and development of our skills in trading. Though, to lessen the emotions getting involved we should be more exposed in trading or in the market and probably in real trading most of the time.

 

[FXZoK]

One of the best ways, in my opinion, is to reduce the trading volume. If you trade 0.01 lot per $1000 equity, there will be almost no fear at all.

 

[Daisy]

One of the best ways, in my opinion, is to reduce the trading volume. If you trade 0.01 lot per $1000 equity, there will be almost no fear at all.

I feel like reducing lot size, capital and leverage will also reduce fear. The higher those variables the higher your fear. I mean who doesn't get afraid of losing high capital right. We need it to pay our bills so just use it modestly. I prefer modest capital. Also, trade in a good market, trend so that there is a strong trend to trade so we have nothing to fear in a strong bullish trend.

 

[Decub]

I think practicing in a demo or a micro account will help newbie a lot. It will help eliminates uncertainty and risks and the unknown in the market. I mean there are so many patterns in forex and if you gain experiences with trades you will spot them and they will help you reduce your fear. I think a twenty years trader will tell you to practice and make observations. I think the more you know the less you worry.

Sure, no matter how we try to neglect the Demo account, it is a place where we can easily build our confidence to a great extent. Now analyzing it properly, this is a place where trade the same way over and again, naturally, you are bound to develop more and more skills as you practice in it over and again.

 

[Daisy]

I think as you develop more experiences and knowledge fear will be at bay. I no longer fear cause I don't throw all of my money in one trade so literally I have nothing to fear. Even if the market goes downhill I can still exit and not lose much knowing how to set sl and knowing how to exit quickly so there is nothing to worry about. I don't enter losing trades so nothing to fear about.

 

[Pettyeve]

If you are new in forex, you will feel fear in forex and you will not run away from it unless you don't want to trade. It will be hard for the worries to go away no matter how much we want to deny it. Each open position takes us to a faster heart beat but with time, we shall see them no more.

 

[Decub]

Yes, the more we practice, the more we are less likely going to become fearful again in our trades. That really mean that we are beginning to gain some kind of confidence doing what we are doing over and again. Fear though bad but doesn't just go away, we will have to battle with it for some time till we get used to the business.

 

[willy]

we can avoid trading with fear or avoid fear making control on us by trading with trusted strategy if we test our strategy very well with demo account at least 6 months and we be sure after that of the results if we trade with real account then we can trade with no fear in our real account

 

[sindarin]

There is no way to eliminate this feeling unless you are not human or you are god. The only way we can do is to minimize it, Fear when other is greedy is a good example for forex trader to know when to utilize this emotions