I found my problem!!

[UMOFX IB]

I am in a fear of loosing money . Actually I lost a big amount in start of trading career . it is so fearful for me that my confidence is less when market is against a. I try to close trades even in loss, Not wait for profit. Now I am trading in micro lots to built my confidence.

 

[indieover]

Yeah when we were new that we were so careless that we risk too much because we can't just wait to get more experience asks knowledge and we just wanted to just try to make big amount right away BH. that's why we made loss

 

[riddick09]

I think not careless but we are not yet aware of the different risks and different market status that really affect the results and our analysis. Not at all novice traders think of big amount but rather have difficult to gain profits and unable to manage their emotions also.

 

[monyitomon]

That can be regarded as "In a hurry" that even you are not good enough you think that you can earn a good amount already that you don't know that it really requires knowledge in here as for them it's just a Gambling that you just going to choose between SELL and BUY then just pray that you make profit.

 

[riddick09]

Pray for the success or luck can be a problem also in our trading. Simple because, this is not part of our strategy and does not have direct affect in the results of our trades but to just have confidence and motivation while we are serious in Forex.

 

[PROPENSITY100]

I am in a fear of loosing money . Actually I lost a big amount in start of trading career . it is so fearful for me that my confidence is less when market is against a. I try to close trades even in loss, Not wait for profit. Now I am trading in micro lots to built my confidence.

My dear fear is always there in Forex and to become successful we have to control our fear. We stake our money in Forex with a view to make money in it and any loss may shatter our confidence and frustrate us. Trading with small capital and small lots for a while until you build your confidence on your knowledge and trading skills may help you.

 

[eddiej]

I have to admit I have a problem in Forex. It's not that I treat it like a gamble. It's not that I trade without stops. It's not that I take on too much risk on each trade. No, the problem is much simpler than that.

DIAGNOSIS: CHRONIC UNDERTRADING!

I know, it's scary, but I think I can survive. The amazing thing is that I knew it all along.

I have a fear of trading because...
I lost a lot on my very first trade because...
I didn't understand risk and money management because...
I didn't read enough about FX because...
I hadn't thought to use the Internet to research because...
I curve-fitted an "amazing" system the very first day I saw a chart.

I am solving this from the bottom up.
I now understand that you can't curve-fit because the market dynamics change.
I am on the Internet researching at least two hours a day.
Thus, I am reading all the time.
I have researched and now understand risk and money management and what proper risk levels are (Thanks to twinchell for your risk thread)
I no longer lose a lot on my trades, because I realize proper stop placement and moving the stop to BE.
Now, the only obstacle is actually TRADING. I am pissed at myself for not being able to man up and take a risk, but I am getting there and will start a new journal next week, with at least 5 trades a week (Hold me to that everybody!!). It may not seem like much, but I gotta take babysteps on this one.

Heh, reminded me back in the days where I still played starcraft and visited forums about it. People think too much and forget that the best experience comes from doing. With your case (chronic undertrading) and alot of starcraft players' cases (ladder anxiety) can be solved by just doing the thing you fear. No matter how much you toss and turn thinking about it, you wont acheive anything if you dont trade.

 

[riddick09]

Our experience will indeed very significant as time goes by in Forex trading. That's why more exposure in Forex market will give us more knowledge and idea on how to trade in the market particularly in the critical situations so, we will going to be need of experience even if that is only in demo.

 

[Decub]

My dear, your problem is not different from an average traders problems as well and mostly newbies but there is one that would have solved other problems to some extent; if you had taken enough time to read about Forex, not necessarily going into Demo trading, that is where the basis lie and that is where most people get it wrong.

 

[winuga]

from what i read about this thread i pretty sure that it is all because of lack of handling bad trading psychology , seem that you have not stick on your own trading system and doing inconsistence with your trading habit

 

[budado]

Problem in forex trading is always be their. But I do hope that in the long run we all can end up making one good income one after another. I'm sure in two to three years time we all can end up making good profit. I'm just hoping that success will always going to come our way in here.

 

[barood4money]

Nobody can be perfect trader, but we can try to be good trader. At first most of the people makes mistakes and suffer loss. By practicing we can minimize our chances of loss. But still we know that mistakes are inevitable.

 

[kate beckinsale]

the only problem in forex is that sometimes in this trading form lose will occur which will be a danger for every one and he can change the life of rich people it means the person which is rich can become poor after taking from here

 

[gkintl]

Curve-fitting is usually done by developers of EA. It is better for beginners to avoid curve fitting. Even though it is intended to create maximum profit with low draw down, usually the reverse happens. This is because curve fitting requires stop loss to be placed far away, usually. This would result in substantial loss when currency exhibits high volatility. It is better to opt for a trading strategy that only results in higher percentage of success and profit factor without any curve-fitting.

 

[Decub]

Everyone has his problem and his fears about the business but one thing I have discovered is that the more you trade, the more you learn to overcome those problems and the more you master your strategies to deal with them. Most times, it bothers on our psychology and the way we position our mindset towards trade.

 

[riddick09]

Indeed. Every trader has the chance to make losses or we will have difficulties and problems in our trading. I would say that many traders will see their emotions in trading greatly affect their trading analysis and decisions. That's why we need to have experience in trading to have handle our emotions carefully.

 

[Pettyeve]

Indeed. Every trader has the chance to make losses or we will have difficulties and problems in our trading. I would say that many traders will see their emotions in trading greatly affect their trading analysis and decisions. That's why we need to have experience in trading to have handle our emotions carefully.

Indeed, yes when the trader has discovered the thing that used to make him or her lose, he or she has improved because the next thing will be how he or she can eliminate that thing that makes him or her lose. Trading in forex will be bringing mistakes but the trader should find the mistakes and tackle it.

 

[Decub]

Sure, you can say that again. When there is a solution to a particular problem,it makes a better trade. The major thing is in identifying the problem itself. Varieties of traders face varieties of problems too and it is only when there is a solution that the trader would enjoy the business.

 

[gkintl]

I am in a fear of loosing money . Actually I lost a big amount in start of trading career . it is so fearful for me that my confidence is less when market is against a. I try to close trades even in loss, Not wait for profit. Now I am trading in micro lots to built my confidence.

Every trader has a fear of loosing money. It can be overcome only when the leverage used is reasonable. Contrary to the popular belief, high leverage will only cause additional stress thereby leading to loss of concentration and errors in decision making. As professionals suggest, a trader should avoid using more than one third of capital at any point of time. It will only allow him to trade with less anxiety. When stress level goes down, a trader will have the patience to wait for his profit.

 

[budado]

If you fear of losing money in forex trading then you will end up losing money. In forex trading you need to have confidence in what you are doing. Right now I do handle 10 trading accounts and some how I do make some good income without fails in forex trading and the last time I got MC is May last year.