B2BX Exchange / Trading tips / How to overcome the fear of losing money?

How to overcome the fear of losing money?

It is necessary to trade only for the money that you have already lost in your mind. If the money you deposited is too expensive for you, the fear of losing it will never go away. It is better to start with the minimum possible amount, which means nothing to you.

Even with a large Deposit, trade the minimum lot size. Until you feel that you are no longer afraid of losing money, put such feet, the operation of which will not cause pain in the soul.

Never exceed the size of the allowed total position and do not overload your Deposit! Otherwise, you will get the following situation: opening a pile of positions, observing the allowable stop size on each, but when all this aggregate mass begins to move against, and you begin to feel the loss of the Deposit, and then the fear turns on. Then there is a series of stupid and wrong decisions. Familiar, huh?

How to overcome the fear of making a wrong deal? It’s simple:

You can not be 100% right always and everywhere. Loss-making transactions and receiving a stop should be taken as necessary and unavoidable production costs. There is always a chance that we did not consider something, did not notice something or just missed the warning signals about the danger;

Always need to find at least 3 reasons here and now to enter the market. You can make mistakes in the calculations, but psychologically much easier when the transaction is opened not on a whim, but on a clear calculation and plan.