Forex Trading: The Fear Factor

[samuel23 10]

Market knowledge and ability to understand analysis will only get you so far in forex trading, but without the nerve to actively compete risking your own money in the process you can never become a successful trader.

 

Wagering huge volumes of money in a market as susceptible to change is liable to cause a whole range of opposing emotions; fear, excitement and anxiety just to name a few. Battling against your emotions in order to complete a successful deal is one of the major hurdles, which must be overcome if you are to become a trader able to close huge deals and earn vast sums of money. If you can overcome or even use these emotions to make trades on the Forex then a successful career may be beckoning, but failure to do so will almost certainly cost you a substantial amount of money and end any lingering desires to progress in the busy world of exchange rate trading.

[fx_jmcalster 10]

Fear is an emotion. Emotions have no place while trading forex. If a person has trouble handling its emotions, use an EA.

[henryduncan12 10]

Fear is an emotion. Emotions have no place while trading forex. If a person has trouble handling its emotions, use an EA.

 

Using EA is not the solution to avoid emotions while trader should build up risk and money management ability.

[Obsidian 10]

Fear is an emotion. Emotions have no place while trading forex. If a person has trouble handling its emotions, use an EA.

 

removing that EA is as easy as clicking a button you know...

[samuel23 10]

Fear is an emotion. Emotions have no place while trading forex. If a person has trouble handling its emotions, use an EA.

 

Emotion is always here even when you are trading Forex. The thing is that you should know how to control it as it can be very harmful to your trades and investment. We cannot mix them both when we are up to Forex but sometime it happens that you let it overcome you.

[samuel23 10]

Using EA is not the solution to avoid emotions while trader should build up risk and money management ability.

 

Well said this is a very important part that we need to consider when we are Trading Forex. I always advice other Traders to learn about Money & Risk Management as this will give us a knowledge how to control our investment in this market. Money Management is crucial and we can surely minimised our losses by knowing about it!!