DO you get scared over drawdowns?

Marcolis posted:
Neglecting demo trading means causing harms to you. Demo trading helps traders develop inner trading qualities and understand the market environment well.

Agreed! Demo trading is very important to know the forex market well in order to sustain in the market for a longer period.

One should always be prepared for facing tough situations in trading, and some of these points might help during drawdowns :
1.Be prepared to experience larger drawdowns in trading so your mind is prepared and there is no sudden shock, one should always keep possibilities.
2.Reduce risk by trading smaller when you're in a drawdown.
3.Put your trades on hold until you reach the point where you will stop, and don't worry about the drawdown until you reach that point.

Knowing where to get out when you get in and understanding market behavior usually calms the fear caused by DD...

Fear of drawdown is normal, but the important thing is whether you can manage it and ultimately make profits.

I do get scared of drawdowns but I think that risk works as a great motivation for me to trade with full concentration and dedication.

I recently reduced my maximum risk to 8% and now I don't hold trades below 8% drawdown. I realized that even 2% is a huge difference and trading has changed. I began to pay more attention to risks. Thus, if you consider drawdown as an instrument, then fear turns into a routine.

Profit of five pips a day will keep the doctor away!

It is the largest money market in the world where a broker serves a trader with all necessary facilities. Select a regulated broker so you can get support.

Practicing more and more and earning knowledge have no substitute to self-development. There is necessity for learning as much as possible and internet has made the learning process easier.

I think everyone experiences some level of fear or anxiety during a drawdown. For me, it's usually a mix of both. I get scared because I don't want to lose money, but I also get anxious because I want to make sure I'm doing everything I can to protect my capital.

The key, I think, is to have a plan in place before the drawdown happens. That way, you know what you need to do and you can focus on executing that plan. And ya, it's important to keep a cool head and not make any rash decisions. Always remember that a drawdown is temporary and the market will eventually recover.

To conquer Forex trading, traders have to continue learning patiently. Don’t jump into live trading with earning knowledge and skill by trading on demo account