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In the grip of fear

Most retail traders who are really trying to bring their trading to the next level endure the same problem. The problem is fear. This can be fear to lose it all, fear to give back their newly made profits and most of all, fear for the unknown.
A very common question is ''how to overcome the fear after taking lots of big losses''. This is a question I had to ask myself many times. In the beginning of my journey I endured loss after loss without knowing and realizing why. To become more consistent I started trading more and more.. Hopefully you all realize this is the most stupid thing to do. If not, now you know it is. I also opened positions that were way to big for me simply because I ''thought'' the price would move in my favour. Never think the price will do so just because you think it will.
Realize and evaluate

After about six to twelve months I realized I would not get anywhere with what I were doing at that time. I had to get away from my desk and screen, I had to reevaluate my actions. This was very hard for my as I had to completely step out of my daily routine.
The first days felt exactly as I expected. It was almost as if I were enduring withdrawa…
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Yulia10 avatar
Yulia10 30 Nov.

nice article

FXNOAD avatar
FXNOAD 30 Nov.

well done

myfx81 avatar
myfx81 1 Dec.

super good

FXRabbit avatar
FXRabbit 4 Dec.

Well written article!

Blaise avatar
Blaise 7 Dec.

Great article.....Quote at the end summarises it all !

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Welcome Traders and Readers,
This will be my first article here on Dukascopy and I hope the information will benefit you in the future.
As we are a community you can feel free to ask me any question, I will do my best to answer them all quickly. This also means that if there are multiple members who would like me to talk about some specific subject in a new article, please let me know.
In this article I will talk about multiple ways that will help you prevent overtrading, entering trades at exactly the wrong time and the use of different chart perspectives.
Overtrading
When I just started trading I found myself entering a lot of trades because I liked the price action and I thought my position would benefit me. Sadly all my losing trades showed me I didn’t had a clue about price action after all, this resulted in many loss trades or profitable trades which I closed way too quickly.
I think most of you who have actively been trading can relate to this.
To stop myself from opening trade after trade without being well informed and having any clue I started paying attention to the following:
[list][/list]…
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Vlad73 avatar
Vlad73 22 Nov.

good job

FXNOAD avatar
FXNOAD 23 Nov.

Well done

kish avatar
kish 23 Nov.

неплохо

JuliannaS avatar
JuliannaS 24 Nov.

Nice to read your articles )

Blaise avatar
Blaise 25 Nov.

Nice one, enjoyed reading it !

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