Being scared of trading is one of the most natural things that we go through on our journey to success. But, there is a trick to it – one should NOT be scared of trading for too long, otherwise this fear is going to turn into a full-on paralysis that is going to prevent you from trading altogether. So, fear is of course normal, as long as it lasts for several short trades and is soon changed for excitement.
But how does one overcome the fear of trading? Here are several ways that you can do that.
1. Study thoroughly.
2. Get used to the possibility of being wrong.
3. Lose in demo.
4. Do not hesitate to ask for help.
5. Personalize.
1. Study thoroughly.
For the most part, fear of trading is the fear of the unknown. Especially when you are the newcomer to the process – you do not know what to expect and how to deal with the sudden changes in the chart performance. You might also be confused as to where to find good learning materials and what trading signals and what broker to choose for your trading. It is natural that you would feel scared, not knowing all these things.
The only way that you can deal with this fear is if you are willing to study and find the answers for all of the questions that you might have. This way you are lifting the air of mystery from the process as well as taking its power over you away from it.
2. Get used to the possibility of being wrong.
Being wrong is hardly one of the best feelings out there. No one likes that and we all try our best to escape ever having this feeling. And of course, that is not always possible. And financial market is definitely not the place for you to always be right and give into the fear of being wrong. After all, there is no way to tell when you might make a wrong move.
Here, the answer is very simple – make your peace with the possibility of being wrong. Sometimes you just have to live though your wrong decision in order to make a right one next time.
3. Lose in demo.
Demo account is a godly development – you can experience trading in its entirety without ever risking a dime. And that is exactly what you need to do – risk. Losing in demo is not going to cost you anything, but in return you are going to get a very valuable lesson – you are going to see and feel what it is like – to lose. And the best thing is that you can stay in demo account for as long as it is going to take you to feel confident and believe in yourself.
I recommend only choosing the broker who are going to give you the possibility to open free demo account. It is really going to make a difference for you.
4. Do not hesitate to ask for help.
Trading can be an awfully lonely ordeal. Sometimes it feels like you are completely alone and there is no one to understand and listen to you. And of course, that is a very discouraging feeling. But, the good news here is that it is not entirely true.
You have an abundance of financial experts, support team of your brokers as well as the support team of your trading signals provider. You are not alone and you have a lot of people to talk to. And I haven’t even said anything about all of the other traders at various worldwide and national forums that you might need. Do not hesitate to ask for help and advice.
5. Personalize.
You have to know how to personalize your trading portfolio, your trading platform and everything about your trading space. Having everything set up just according to your likings is going to make you feel peaceful and calm. You are not going to be scared if you know that you have taken care of yourself and that you are not going to be lost in a critical situation.
Try and personalize everything as much as possible and you are going to see – it is going to make all the difference.
