adpablo

Forex trading is one of the most looked for occupations for many people these days. Around the world people is getting tired of fixed working hours and tight cubicles that limit their aspirations of a more relaxed and satisfying working life.

In order to start Forex trading the new trader doesn’t need a fortune or good Wall Street contacts that will let him become part of the chosen ones. The only thing the new forex trader needs is some starting capital (as low as $100, but an amount around $5000 would be more recommendable) and the free forex trading platform that will be provided by the Forex broker.

But one thing is to start Forex trading and other very different is becoming a profitable Forex trader. In order to become a profitable trader the new trader will immediately discover the imperative need of having an accurate knowledge of the markets and a good understanding of the forex technical indicators. Concepts as Moving Averages, Fibonacci levels, Bollinger Bands, etc; are the basic knowledge every trader must have.

This basic knowledge is indeed essential but once in front of the trading station, with real money on the line and with an open trade subject to the currency markets oscillations; things will start to get tricky even if the basic technical concepts of forex trading have been understood by the beginning and sometimes also by the experienced trader.

Knowledge will start to fade in front of one of the most basic instincts we humans beings have. Fear will ask for an entrance to the traders mind and if let in by the inexperienced trader, it will turn the making of critical decisions difficult and many bad trading moves may follow.

It is very natural to be afraid and let fear invade us if we are not really sure of what we are doing or we can not afford to lose even a cent in a bad trade; or seen in a different approach, the trader is so anxious and perfectionist that he won’t let him lose anything and will take it very seriously if he loses a trade.

Fear is one of the worst enemies of the Forex trader. In order to become a profitable trader it is essential that the person involved in trading understands that he must leave fear aside and stick to the trading plan he has constructed and arranged before, always understanding that losing trades happen to everyone and they are always part of a profitable trading career. A forex trader must learn how to profitable use his stops without heavily compromising the capital in his trading account, i.e., he must play safe but realizing that a calculated risk must be undertaken in order to maximize profits.

In short, fear is a natural emotion we all humans have given the right environment is present; therefore it is the trader’s obligation not to arrange a “fear environment” around him and be psychologically prepared for the ups and downs of the trade. No one is prefect and that’s an even deeper truth in forex trading.

A. Pablo

=>> http://www.1-forex.com/Forex-Funnel-System

deanbean

I would say fear is a factor that is always there when trading, rather important than getting rid of fear is to learn how to use it to your own benefit. You’re more cautious with your trading, you think well before you make a move… and so.

MaggBeauty

This is the best thread to make my first post and it is because I fell frightened to enter in a world I don’t know, anyway I like how sounds that “…to learn how to use it to your own benefit…” Maybe forex is always an attitude and that attitude is reflected in your earnings.

MilliMu

There is no much to say about fear because it’s always there, if you’re a many years trader or if not, and besides fear is present in almost every situation in life. If fear freezes you this isn’t your business.

jaxtrevor

hello fellaws! ...one of the main factors which prevents a trader from making gains in his trading is fear!!!!

Too often when it comes to putting down the money from an order, FX traders will back out because of the negative fear of losing pips. This is actually a natural feeling that one will get when venturing into something that we are not sure about. At the end...you have to face that fear in order to become a consistent trader, it is the only way to improve...don't you think?

JaxxT

Hdsn

I would like share my experience, it is not to large in Forex, but what I can tell you is fear is not a problem for me anymore. As jaxtrevor said, I faced the fear and I defeated it. My fear when I went into real trade was on deciding when leaving a trade, but the more I know about indicators, trades systems….the less fear I feel on my trades.

evita

ja! (hehe german!) the best way to avoid the fear is by going live actually. I spended weeks thinking about doing it you know but i just followed some other trader advise suggesting a good strategy.

Demo trading and live trading is totally differnt if you take in count that in live accounts the spread is widen, and that doesnt happen with the demo. so...what i did was...keep practicing and improving the method on the demo...and start tradong small amounts on the live account with micro slots. being alrighty until now

wannabedavid

That’s right! And also why to fell fear if we have S/L tool? The software we trade with is quite specialized and with good management risk and trades strategies there’s no way to lose more than we plan.

Hdsn

Why?.. I’ll tell you why. Even though you have S/L and T/P tools, you should know where and when to use them, so you don’t make any mistakes. Basically the thing is about knowing when to leave a trade, which is really hard at least it was it for me. Ever since I developed my strategy with a few indicators, as a matter of fact when I really understood how they worked with the EMA and all that stuff that sounded confusing when I started to trade at the beginning, was when I got confident to leave a trade.

evita

sure i would say the same...the funny thing is that when you are starting you could make mistakes! like one friend of mine...few weeks ago, we were practicing on her demo account...and after a while...i went to my house to sleep right? she did so too. Guess what! she forgot to close the order and she didn't set the stop loss! she lost 300 dollars when she woke us! hopefully we were just demoing! I hope it never happens to you!