The Fear Factor
Fear Factor plays a great role in lose during forex trading, so trader should give more concentration on it. They should avoid fear and emotion during forex trading.
It easier said than done. On my demo account was a lot easier than in real trading
Fear Factor plays a great role in lose during forex trading, so trader should give more concentration on it. They should avoid fear and emotion during forex trading.
Indeed we should know how we can keep a very good control of ourselves in the market and surely we will be more capable of trading Forex efficiently. Well good luck and i hope this article will help you in the future!
It easier said than done. On my demo account was a lot easier than in real trading
Sometime there are some factors that may affect your trade when you are to live account. I maybe that you know you are not trading for money and you may be more relax while trading Forex. But when it comes to money you may be panicked and then began to make some silly mistakes that you might have avoided when you were up to Demo Account. We should know how to control fear and surely we will be more at ease when it comes to trading Forex. 
People fear so much because Forex is a risky market and very fast too. it is more then fast on share market. sometime people loss because of far and no confidence . i think if they practice regularly then they can able to perform trading without any fear or emotions also.
Well said Jack. Practice make perfect and we do have all necessary tools to do that in Forex. If we open an account with a broker we have the Demo Account which is something that we need to use as we will learn from it. By this we will familiarise with the Platform and with all the tools!!
Here are 3 Steps in Dealing with Fear:
1. Embrace fear
Fear is part of human nature and everybody experiences it, so embrace fear and focus on dealing with it.
2. Identify the source of your fear
Did the funny tingling in your tummy come from valid reasons like a break in support and change in market sentiment, or was it just because you had a nightmare about your trade the night before? Learn to identify the good kind of fear from irrational fear so you can focus on acting on it.
3. Use fear to make better trading decisions
Once you pinpoint the source of your fear, make the necessary changes in your trades. This way you have turned your fear into an area of growth and improvement.
As super trading coach Brett Steenbarger says, "Confidence isn't the absence of fear; it's the knowledge that you can perform your best in the face of stress and uncertainty."
So...don't be afraid and apply this strategy in your trading life.
I don't think it si possible to avoid fear, but it can be controlled. We just need to learn how.
Fear factor play vital role in Forex. We should avoid fear in our trading. If we have good knowldge and skills then we can keep away fear from Forex.
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Market knowledge and ability to understand analysis will only get you so far in forex trading, but without the nerve to actively compete risking your own money in the process you can never become a successful trader.
Wagering huge volumes of money in a market as susceptible to change is liable to cause a whole range of opposing emotions; fear, excitement and anxiety just to name a few. Battling against your emotions in order to complete a successful deal is one of the major hurdles, which must be overcome if you are to become a trader able to close huge deals and earn vast sums of money. If you can overcome or even use these emotions to make trades on the Forex then a successful career may be beckoning, but failure to do so will almost certainly cost you a substantial amount of money and end any lingering desires to progress in the busy world of exchange rate trading.