Role of courage and fear in Forex trading

[kasual]

Fear at particular level can control traders greed. Traders worry about big loss result and they are trade conservative. Risking small margin in trading in order to avoid big loss to come. However, the key does not lies on risk management. Traders should has good strategy also which enabling them to make good trading decisions. If they are able to gain profit, mean that they are avoid loss to come. That is really simple.

 

[budado]

You don't need courage. What you need is knowledge. Because no matter how courageous you are to open a position if you don't know how to open a position properly you can end up getting loses right away. So make sure that you know how to trade and make profit properly.

 

[pithyon]

don't fear. no lose no gain. if you want make money you must face to face with lose money. it's both side

 

[budado]

Forex trading is not about fear and courage. Its about knowledge. The main reason why you feel fear is because you actually don't know what you are doing. I'm really happy that some how I can sustain and maintain my trading account for good and its not courage that make me trade. Its the thoughts that I do know how to trade.

 

[Decub]

The role of courage is that it gives you confidence and a lot of it while fear eludes that confidence from you. If a trader is courageous, then he definitely would become successful because he would see the need to learn and remain steadfast amidst losses. That is what makes a trader whom he is.

 

[budado]

Confidence comes because you know and you have confidence that you going to make good income in forex trading since you believe you have a good trading skills to make you earn in forex. But you can have courage to trade in forex even though you know that you don't have capacity to make good money in forex trading. Just some belief that you can pull this through.

 

[sindarin]

Role of courage and fear are to make you feel balanced. Fear will help you to limit your trading and make you more careful. While courage makes you intend to take an action or to be precise taking the risk by opening and closing position at one time.

 

[Dmitriy Ushakov]

Fear is a very bad thing. It can ruin all the plans, all the goals. And get you to rash acts.

 

[sininfinity]

Courage and fear plays their role in trading. One should learn to control them. As sindarin said one has to control risk and keep emotions in check. They can be very harmful went out of the hand.

 

[starlite]

In forex courage is needed to face market , here we can loose so a trader should be brave enough to bear loss. Fear some times paly positive and some times negative role. In fear mostly people loose again and again they do not wait for market turn and close trades at low loss every time.

 

[sininfinity]

In forex courage is needed to face market , here we can loose so a trader should be brave enough to bear loss. Fear some times paly positive and some times negative role. In fear mostly people loose again and again they do not wait for market turn and close trades at low loss every time.

Letting emotion play a role in trading is not a wise idea. In the long run it will harm a trader. So we should overcome it and keep our emotions out of our trading.

 

[Max]

More than courage, I think it's another thing we must keep in mind. Ok, after learning how to move in different situations, and how to react to different signals of trade, you need to have courage on making steps.... But also you need to put limits on this. Courage can get you earnings, but courage without limits can take you do crazy things. So, after that courage makes you take the step, you need to put a limit on earning and loosing. This way trading can be more secure....

 

[gabanda]

Yes of course we need to having good courage to start, forex is like as challenge business and required good mentality to joined, but beside courage of course also need knowledge and also always have motivation in trades

brave was good and therefore we need to be able to have good skills and mental strength so that we will be bold in forex trading. to improve the skills, we can use a demo account or to participate in the contest demo so that we will have a lot of experience

 

[helodear123]

In forex trading about control emotion is important to keep discipline with rules trading about system trading and money management, following emotion in trading with anger only will leading to getting quick loss in trading

Emotions should be kept aside while trading as they contribute almost 70 - 80 % in our winning and the rest contribution is your effective money management.

 

[helodear123]

Yes forex required strong psychology, and this has high role in tradng because although any trader they have profitable system trading but they weak in psychology hence will messed up their plan and violating rules system trading because lack in discipline

Agreed and that's why most of the traders fail when ever they ignore or violates the market rules.

 

[sininfinity]

In forex trading about control emotion is important to keep discipline with rules trading about system trading and money management, following emotion in trading with anger only will leading to getting quick loss in trading

One can not take revenge on the market. The trader will be defeated for sure. Traders should learn to accept losses. With profit losses will also come. They have to learn to take profit out of them.

 

[Runo]

I agree that courage helps you trade, especially when you open deals. But sometimes the same courage is the reason you open wrong deals.

 

[lioneld]

When I was a new Forex trader then I was involved with this problem but now I am not! Right now, I am very hopeful about my success! Because, day by day I am improving my trading skill. As a result, I am making more money than before.

 

[Tom Latham]

Basically, pro traders are confident in their trading! On the other hand, fear is one of the most common problems for the new Forex traders! Yes, I was also involved with that issue but I am not! Because I have already spent here more than 2 years!

 

[Lee Mark]

Here you have to understand your strength and weakness very keenly! Such as, when I was a new trader then I avoided major news events link FOMC, NFP completely! Because, then I had no knowledge on the news trading.