Please take a look around, and feel free to .
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.
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.
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.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.
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.