Newbies come with a mindset that more trades will get them more profits and this makes them open trades like crazy when they are beginners. Now if they don’t understand what they are doing, there should not be a question of why they lose money in the forex market.
It has not only the newbies but the traders at all. Some people have it more pronounced, some less. But still everybody has it. But you can overcome it. Accept the fact that it is impossible to earn all the money. And the fact that you are well in profit is already very cool.
Fear of missing out is something that often happen to traders mainly for those who are weak in psychological trading, they know and realize that fear of missing out like as disease and often leads to failure but they cannot control emotion and keep repeating the same mistake over and over again, how to overcome this mistake as a trader needs to strong psychology.
The issue is quite common among the newbies who are yet to get familiar with how the market functions and what they must do to stay in the market for a long time. It’s not just about how talented you are as a trader but also how patient you can be when you need to stay low key.
The biggest asset you have to aid you in your trading journey is emotional control. You can accomplish anything if you have emotional control. And you won't be able to make wise selections if you can't.
Some people always miss high probability trades because they are afraid of losing money. For those people, I would like to say that loss is a part of forex trading, and if we manage our risk properly and do not take on too much risk on a trade, we can reduce our fear of losing money.
GeorgeBischof posted: If you are a day trader it's not possible to make pips everyday. In some days you won't get any trades. You have to sit on sideline bench. If you want to keep a goals make it 3 months 6 months or yearly goals.
I got your point, actually we can’t take every opportunity; to be a good performer, we need to verify the entry points by many parameters!
You feel that you are losing an opportunity until you know that all opportunities are not for you. Some market movements go over your head and it’s completely fine if you don’t understand them. So, learn to take a step back before your steps become an issue for you.
UweMoench posted: The fear of losing opportunity is very dangerous. All newbies have this fear. When markets moves a lot in a certain direction, they become restless by thinking they are losing an opportunity of making money. As a result they try to open trade even if their system shows no signal, and they open trade and lose the money.
Proper time management is needed for trading, for example, scalpers always follow short time frames and long term traders always follow long time frames. So follow time frames according to your trading style.
Fear is a natural emotion that every trader faces. Since the possibility of risking money is stressful, traders should learn how to handle their emotions to maintain control over their trading decisions.
The fear of missing out on opportunities is very painful, just how you feel FOMO by your friends. Haha, anyways, back to the point- If you want to keep an eye on the market always, even when you are away or asleep, you can use bots for that specific period of time. Customise your bots to the number of trades it can make, and set a really close stop loss to avoid big losses. But I'd suggest you relax a bit, we are humans, we cannot be present on the market all 24 hours when its open.
AVERTISSEMENT SUR LE RISQUE ÉLEVÉ : Le trading de devises comporte un niveau de risque élevé qui peut ne pas convenir à tous les investisseurs.
Leffet de levier crée un risque supplémentaire et une exposition aux pertes. Avant de décider de négocier des devises, examinez attentivement vos objectifs dinvestissement, votre niveau dexpérience et votre tolérance au risque.
Vous pourriez perdre une partie ou la totalité de votre investissement initial. Ninvestissez pas largent que vous ne pouvez pas vous permettre de perdre. Renseignez-vous sur les risques associés au trading de devises et demandez conseil à un conseiller financier ou fiscal indépendant si vous avez des questions.
Toutes les données et informations sont fournies "en létat", uniquement à titre dinformation, et ne sont pas destinées à des fins de trading ou de recommandation.
Les performances passées ne sont pas indicatives des résultats futurs.