Are you afraid of Loosing Money in Forex? - page 3
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Not really. Actually by placing the SL I accepr the idea of losing. At the same time you have to track your trading and always make sure that you don't risk more money a day than your average daily income is.
Of course, If we want to get maximal profit, we must minimize the risk. Make sure that we discipline when trading with our money management. Control ourselves so we will not be a greedy trader.
The key to success is to learn in earnest. If we want to succeed in the world of trading, careful planning and strategy also needs to be done in order to better the future. Especially in the forex world, everything can not be predicted with certainty, there is always a risk, with sufficient capacity to minimize risk.
There are many people who are afraid of loosing money in forex Im one of them. There are times i close my trade even if its the market would still go one in the direction that i predicted mainly because Im afraid it will re-bounce back and would loose money if i did not close it. Even if it is not my money it was a bonus given to me I still get frustrated when I would make a bad trade in forex What about you? Are you afraid to take profits or loosing more money in Forex? U can share your experience here.
I would trade with my money I could afford to lose ONLY AFTER I have proven myself in a demo environment. If you have proven to yourself that you have a concise exit/entry plan that enables you to hit winners and limit your losses in an effective manner, I would suggest jumping in the waters. You have to be confident in your trades and system.
If you lose confidence in your system, you'll be just another statistic. The transition from demo to live is hard due to the psychological shift. Irrational habits are developed and with too small of an account balance, you don't take the trades seriously.
You have to find a way to take it all seriously and be confident in what you are doing.
Loosing money definitely calls for fear, but we won't always make profit in forex. So it's better we have that reality check, with this we can control our fear.
I think the evaluation is very important to do so that we can minimize the loss. By evaluation on a regular basis, we can know where our mistakes. That way we can control our fears.
Actually I have something similar feeling after i open a new trade. It's my job to wait only for gaming. On the subject of a revenue position, My partner and i close that immediately. Because I really believe that exactly what belongs if you ask I will certainly come to me.
At times, we lose to win. I'm not necessarily scared of losing money because in every business, failure is fun if it is educative. What I am necessarily afraid of from my experience is loosening my grip on my broker for the reason that he is regulated. As I came to the precious discovery that the reliability of my broker is not in his FSA license - as they still hide charges and even stop hunt, and what is the need of regulation if I am scammed a million dollars only to be indemnify $200,000. Is i proportionate?
Afraid of losing money in forex is often experienced by traders especially newbie. But actually we should not be afraid to lose our money if we have good trading skills and good MM. For that, a newbie must have good trading skills and MM are good, if want your capital survive. And As a first step, we can trade by using bonuses posts instaforex.
I am not afraid of losing in Forex because I know that loss is a part of business. I shall not gain all the time. Some time there will be loss but during losing you have to vary careful. So do not afraid just take it as a challenge.
There are many people who are afraid of loosing money in Forex I am one of them. There are times I close my trade even if its the market would still go one in the direction that I predicted mainly because I am afraid it will re-bounce back and would loose money if i did not close it. You can't say that I am not afraid of loosing money in Forex market, you have to admit that. The only difference between a newbie and experienced trader will be the mindset.