The fear of losing money is very common.

[mlawson71]

True. Forex is risky and success is very far from guaranteed. If you trade with such money you're setting yourself up for a disaster, I think.

 

[Serendipity]

Primary issue is to due over trading and fairly large positions

 

[Goat_Fx]

Yes

Trading with fear in mind is going to result in wrong decisions.Trader should get rid of his fear before trading. The only way to do it is to educate yourself because when you are well informed you are naturally more confident. You can also move to a small account and try to work on your psychology there if you think that your emotions are overpowering your decisions.

Yes it's very true

 

[monssur]

Its normal to be afraid of forex at first, but time and education will definitely help

 

[andreafaccina]

both are harmful! you have to control them! let say you opened a position with 0.01 lot and you decided to forget it for a whole week with propriety SL! let's say after 5 days this trade goes with you with 80 pips or 100 pips so you guaranteed a 10$ that's what it called non-greedy trade and you are risking free with less fear! if you are taking a 0.10 lot and it moved against you 100 pips so you loosed here a 100$ and if you don't have a bigger account than the fear will eat you! if you want to succeed in forex you have to understand money management correctly and take psychology of forex trading courses!

Very good, that's exactly how we should think. Everyone tends to want to get rich quickly and open lots as if they were peanuts.
The correct basic money management, without working with SL, is 0.01 lots per 1000 $! This is the only way to stay in the "comfort zone", no fear, no rush!!

 

[andreafaccina]

As soon as possible I would like to try it too! I really like the S&D technique!!

 

[Tauricide]

Yes, traders have a common fear that is fear of losing money. However, this must also be dealt with. It is preferable to work on your mindset and accept that profit and loss are inevitable in business. You can learn more about the subject by reading books and watching informative videos. It will be beneficial. Risk management strategies can also be learned.

 

[Fedcorn]

If only traders deal with loss, will they be able to rise in success as they move forward in their journey. It’s not easy and traders need to apply measures to secure their capital keeping in mind the constantly present risk levels. Accepting loss and learning from their mistakes is the only way to achieve profit.

 

[zakiii]

I think by studying and applying strategies and indicators the loss risk will be too low.

 

[Sufflate]

Yes it is, and can be a major deterrent to forex trading. However, by implying certain preventive measures one can reduce the risks of heavy losses. Like using stop loss, understanding the behaviour of the currency pair behaves in relation to other currencies and keeping track of your trades.
Losses are inseparable in forex trading. One must accept the losses and learn from them.

 

[BoldMaestro]

I would recommend you to read this book called ‘Trading in the zone’ by Mark Douglas. It is one of the best books written on the topic of trading psychology. It helped me a lot as a beginner. Overcoming your fear is very important and you will have to do it yourself.

 

[wicky1986]

The fear of losing money or of losing a trade can be crippling to a trader, causing them to miss out on high-probability trade setups, second-guess themselves constantly and it can even cause them to be unable to sleep. Clearly, if we are to succeed at trading we have to conquer this fear.

 

[Bangkok]

The fear of losing money is common among traders. However, if you adopt a trading mindset and learn how to manage your emotions. Then things will be different, and trading will be easier for you.

 

[Naveenrai12345]

Yes, I agree, the fear of loss can lead traders to make mistakes. I try to control this with good risk management, like stop loss orders and position sizing. Also read good educational resources and choose a broker that offers good trading conditions to minimize cost of trading. Look out for brokers that offer promotions like initial deposit bonus and rewards for trading. With some of these things in place, it's possible to overcome / control fear and continue to trade in volatile markets.

 

[BinarySumo]

It is normal to feel scared of losing. After all, it is your hard earned cash that you are risking. But risk is important if you want to make money in this market. To overcome this fear, start by risking the smallest capital and learn to build up your confidence. Trade with a higher risk once you think you are ready.

 

[HeavLeighGill]

I struggled with being afraid of losing a lot in the beginning, to the point that I often wouldn't enter trades at all. I think time and experience help as you become more confident - demo practice is also crucial.

 

[Siphonic]

Fear is a common emotion faced by many traders when they enter the market. Traders need to understand that by making mistakes, they increase their chances to make profit because learning from loss is only a step forward. This is exactly why experts advise to start low and expand with experience.

 

[Eusorphia]

Fear is a strong emotion indeed. Some manage it well, while others do not. Don't be concerned about losing money! You will conquer your fear once you comprehend that losing money is a part of this business. Accept that you will never be correct 100% of the time. Focus on your risk management and go according to your plan. Be patient, the process takes time.

 

[Expatiate]

Acceptance is the first step in overcoming the anxiety of losing money and trades; even if we strive to avoid it, we will inevitably lose money and have losing transactions. Therefore, it makes no sense to strive to prevent losing trades; instead, we must learn to accept them and control them.

 

[Ansu]

The fear of losing money is very common among new Forex traders. And for this thing pressurize me more. However, there are some other fears that emerge as obstacles for traders on their way to reach the desired level of performance. Everyone is scared to lose their money. A new trader might be doubtful to trade if he has lost some money in the past. I know psychological courses are very fruitful but as well as expensive. I can't afford those courses. Is there any other way?

It's very difficult to trade if we don't trust ourselves, because if we fear, it means simply that we'll miss a lot of opportunities and while we miss it we'll be confused and able to enter to any position without thinking just because we want to make some profit.