Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

painofhell

The Four Faces of Fear

By painofhell, in Trading Psychology

Recommended Posts

painofhell    10

painofhell
Posted (edited)

The Four Faces of Fear #1 Today, 06:00 AM

Right now I'm reading Trading in the Zone, a book on trading psychology by Mark Douglas. This book has been widely praised, and discussed extensively here on InformedTrades; I highly recommend folks check out Larry Folson's course and Magic's Trading in the Zone review to learn more and check out some great resources that are complementary to the book.

Like many others who have studied trading psychology or have traded themselves, the book identifies fear as the primary emotion that blocks traders from succeeding. Specifically, Douglas refers to the four types of fear traders face:

 

1. Fear of being wrong -- creates agony over entering trades

2. Fear of losing -- this often results in holding on to losing positions

3. Fear of missing out -- leads to chasing price and poorly timed entries

4. Fear of leaving money on the table -- translates to holding on too positions too long and poorly timed exits

 

For an audio/visual look at this subject, try the short video below.

 

In terms of overcoming those fears, Douglas notes the importance of finding your edge and trusting it. Knowing your edge, gaining great confidence in it, and taking full responsibility of your trades is what Douglas prescribes as the antidote to fear.

 

These are simple concepts, but I thought they were worth highlighting -- especially for active traders, and those seeking to live the dream of trading for a living.

Edited by painofhell

Share this post

Link to post
Share on other sites

prax    10

prax
Posted

nice stuff. but i would rather to overcame my fear.

it's take more time to define each my ear while taking preaction differently for any kind of fear type.

face it, overcome and do it again :)

Share this post

Link to post
Share on other sites

shuvo7748    10

shuvo7748
Posted (edited)

For me major 3 Fear is

 

*Fear of Loss

* Fear of missing good trades

*Fear of being wrong

But i know ``Successful forex trading is about overcoming the major fears, gain confidence in my trading method and even more confidence in myself” ==> When i trade, i try to leave the emotions at the door.``

Edited by shuvo7748
spelling error

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
Go To Topic Listing

  • Topics

  • Posts

    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
    • Stocks4life
      Breakout and Swing Stock Ideas

      By Stocks4life · Posted

      MNST Monster Beverage stock, top of range breakout above 60.45, from Stocks to Watch at https://stockconsultant.com/?MNST
    • zdo
      AI

      By zdo · Posted

      ...hallucinates.... Student: “What if we gave the monkey LSD?” Guru: “The monkey already did LSD”
    • analyst75
      How did you suspect you have cancer?

      By analyst75 · Posted

      Question: To those that had/have cancer, what were the signs that made you think “something is not right here” to make you go see a doctor? Answer: So, 5/25/2018, I woke up, got ready for work, and as I walked to my car, I started gagging. Like something was stuck in my throat and I needed to clear it. And then it went away.   But 10 minutes after that, I was T-boned at 40mph on the driver side door. But what made me see a doctor was while my muscles felt better and bruises were going away, the gagging still continued, I started having fevers, my neck felt swollen, I was having such a hard time breathing, and I'd have random sharp pains in my chest, but not from where the seat belt saved me.   2 weeks after the accident, I finally see an urgent care doctor, who looks me over, tells me I'm fine, but luckily requests a neck X-ray. And I ask for a chest X-ray, which he rolls his eyes but let me have (most of my pain was in the neck, so I understand).   The very next day, he calls and says “So, that chest X-ray shows there's a 4 inch mass on your heart and lungs, and your lungs have been filling up with fluid, as well as in your pericardial (heart) wall. We need you to come in tomorrow.”   Turns out the big mass, due to the accident, caused my heart and lungs to tear and fill with fluid, the swollen neck and gagging was caused by 2 metastasized tumors, and the fevers and weight loss were symptoms. Stage 4b Hodgkin's Lymphoma.   But thankfully, we went very aggressive with chemo (and had a lot of bad side effects that don't normally happen to patients), and now I'm about 16 months cancer-free. Yay lucky X-rays! Rachel Jurina, Quora Source: https://www.quora.com/To-those-that-had-have-cancer-what-were-the-signs-that-made-you-think-something-is-not-right-here-to-make-you-go-see-a-doctor   Profits from free accurate cryptos signals: https://www.predictmag.com/  
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept