Fear of losing trade is very common among traders. As Warren Buffet said, fear comes from not knowing what you are doing. If you want to remove fear you need to be skilled enough. Also you have to accept loss trades. But you are not able to recover your loss, you are not ready for live trading.
Fear is very common emotions among traders. There are two types of fear. One fear of losing a trade. Second, fear of missing a trade. Both are equally destructive. A trade needs to have enough knowledge and skills so that fear doesn't work in him.
Michihito posted: Fear of losing trade is very common among traders. As Warren Buffet said, fear comes from not knowing what you are doing. If you want to remove fear you need to be skilled enough. Also you have to accept loss trades. But you are not able to recover your loss, you are not ready for live trading.
To my mind, if a person has decided to become a trader then he/she must forget about such a feeling like 'fear' in relation to losses. Every trader must know that losses are th biggest part of experience and trading activity at all. Of course it will be tough to worry about first losses, but then he/she will used to them. I suppose that losses should be taken for granted because after string of losses there will be a string of wins and only then a trader understand the significance of losses in trading activity.
Not only am I afraid of losing my trades, but I am also afraid of being wrong. Perhaps, that is because of the fact that I am too arrogant and don't want to be mistaken, but every time I am wrong (that implies losses because of my mistakes but not because of accidental fluctuations), I feel extremely stupid and downcast. I also don't like losing the money but I realise that losses are alright for trading and the fact that I hedge the risks, saves my deposit from destruction.
Experience will bring you in usual feeling when getting loss, different for the beginner trader, they may be still facing fear, anxiety when seeing their trades on loss floating, they hope the price will bounce and get to ride on the track to profit, experience trader usually already prepare the risk included in the plan, so they not too much worried with the loss
I wouldn't say that I am afraid of losing the trade. Surely, this scenario is not appropriate for me, but before opening a deal I put up with the fact that this amount of money can be lost. I feel that it is the right approach to it.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.