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Use Fear As A Motivation!

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  #1  
Old 25-04-2012, 09:25
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Default Use Fear As A Motivation!

I know that most of the new traders in here have fears of loosing a lot of money in their early days in trading. Not just beginners but some good traders also know that in forex, nothing is sure and they can get bankrupt any moment.

Now these fears that traders have could be use as a motivation for them to avoid and dodge loosing. IF we use fear as our motivation to do better and to prepare better for each trade, I think fear could turn into a positive factor. What do you think?









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  #2  
Old 03-05-2012, 12:30
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Default Re: Use Fear As A Motivation!

What are you afraid of? Except of losing mony of course…. I think that fear should not be your motivation. Your motivation should be the will to win the markets constantly and create another income for yourself. I like to look at things in a positive way and thinking about the fear might make you do mistakes.
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  #3  
Old 03-05-2012, 14:09
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Default Re: Use Fear As A Motivation!

fear is one of the major factors of blowing an account for new traders, I blew my first account with hotforex last year due to that factor, another thing that might help is invest a small amoount of money when trading live for the first time, and make sure its not money that you will need, it helps a lot to set aside that fear of losing and it buids confidence :D
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  #4  
Old 04-05-2012, 08:40
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Default Re: Use Fear As A Motivation!

Fear is always a good motivation. It's been used in all courses of life - even our very survival. However, use fear not in the conventional "OMG I'm going to lose money". I think most successful traders use fear in the sense of "OMG Look at all the money I'm missing out on!" :D
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  #5  
Old 04-05-2012, 10:18
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Default Re: Use Fear As A Motivation!

one way to overcome your fear is to trade on demo - this way one gets used to and sees how trading is. also, i'd suggest autotrading or following traders signals on systems like zulutrade( this way your account is secured you will not waste money)
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  #6  
Old 04-05-2012, 12:49
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Default Re: Use Fear As A Motivation!

My fear of starving and living under a bridge is motivation for everything I do.
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  #7  
Old 04-05-2012, 14:09
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Default Re: Use Fear As A Motivation!

thats one way to put it hahaha yeah i guess try opening a demo account with the amount that you are willing to invest to get used to it, as long as you treat it seriously you will make it!! its only for the first couple of months that you have fear then it becomes normal :D
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  #8  
Old 22-11-2012, 08:39
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Default Re: Use Fear As A Motivation!

1. Embrace fear

Fear is part of human nature and everybody experiences it, so embrace fear and focus on dealing with it.

2. Identify the source of your fear

Did the funny tingling in your tummy come from valid reasons like a break in support and change in market sentiment, or was it just because you had a nightmare about your trade the night before? Learn to identify the good kind of fear from irrational fear so you can focus on acting on it.

3. Use fear to make better trading decisions

Once you pinpoint the source of your fear, make the necessary changes in your trades. This way you have turned your fear into an area of growth and improvement.

As super trading coach Brett Steenbarger says, "Confidence isn't the absence of fear; it's the knowledge that you can perform your best in the face of stress and uncertainty."

So...don;t be afraid and apply this strategy in your trading life.
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  #9  
Old 11-12-2012, 13:10
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Default Re: Use Fear As A Motivation!

very nice and motivational post!!!
btw, i saw a bit ago a post on the zulutrade forum with the same name...maybe you are an provider as well ? would love to get to see your stats.....and maybe follow you seem like you know your stuff. ;)
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  #10  
Old 14-12-2012, 08:25
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Default Re: Use Fear As A Motivation!

are you referring to angelnish? :D I'd like to see them stats too, that would be nice :D
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  #11  
Old 07-02-2013, 16:09
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Default Re: Use Fear As A Motivation!

First of all, if you are serious about trading, you must accept that losing is part of the game. So the point is not about avoiding and dodging it, rather it is about recognising it and managing it accordingly.

The way to overcome fear is to do the fear itself.

So recognise that losing is part of the trading game and still do it anyway. The way to manage it is to ALWAYS limit your risk for EVERY trade because you never know which trade is a winner or loser. Decide on how much to risk (I recommend not more than 3% per trade) and place your stop loss accordingly.

For trading, the fear of losing cannot serve as a motivation, in fact it can be crippling because it can lead to non-action. Things happen when actions are taken. If you want to have success in trading, you must embrace the prospect of losing and still trade the market anyway.

Your trading journey may be long and arduous - mentally and financially. To stay long enough in the game, learn to control your losses. If you can manage your losses, your profits will eventually come given a long enough period.


Quote:
Originally Posted by fmfx View Post
I know that most of the new traders in here have fears of loosing a lot of money in their early days in trading. Not just beginners but some good traders also know that in forex, nothing is sure and they can get bankrupt any moment.

Now these fears that traders have could be use as a motivation for them to avoid and dodge loosing. IF we use fear as our motivation to do better and to prepare better for each trade, I think fear could turn into a positive factor. What do you think?

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  #12  
Old 02-04-2013, 10:09
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Default Re: Use Fear As A Motivation!

Fear is not bad all the time it save us from greedy and risky trading.Fear can be used in positive manner it teach us to avoid loss, To trading in low margin , To manage our many and be patience . If we are in fear we do trading with proper planning and try to learn lesson from our mistakes.
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