fearing of loss money
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Thread: fearing of loss money

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    Rookie mohamed reda's Avatar
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    fearing of loss money

    we know that loss is apart of this business and you may fail in loss in any trade . all beginner traders are fearing about loss money so that i will tell you the best way to kill this fearing .when i started this business i had this fearing many times and i decided to open a demo account and i started my demo trading for 3 months and after this time i have no fear about loss .so i think you must training for enough time to not loss a real money with your real trading.

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    Last edited by mohamed reda; 08-19-2013 at 08:24 PM.

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    We all have fear of loosing money, it's normal and it's also common for every newbie trader.

    So, I agree with M. Reda, that we need to sharpen our trading skill in demo account,,, after some month, we can start with small amount money, cent account would be fine.
    Trade it for some months, so we can handle our fear psychology.

    If our skill trade improved, and we can trade good enough, profit bigger than loss,,, so I believe we can remove our fear of loosing money.

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    Quote Originally Posted by widhie75 View Post
    We all have fear of loosing money, it's normal and it's also common for every newbie trader.

    So, I agree with M. Reda, that we need to sharpen our trading skill in demo account,,, after some month, we can start with small amount money, cent account would be fine.
    Trade it for some months, so we can handle our fear psychology.

    If our skill trade improved, and we can trade good enough, profit bigger than loss,,, so I believe we can remove our fear of loosing money.
    exactly i want to know how many months can improve our skill in trading? so that i can follow your sugestion sir...

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    Rookie mohamed reda's Avatar
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    Quote Originally Posted by rully View Post
    exactly i want to know how many months can improve our skill in trading? so that i can follow your sugestion sir...
    i think trading with the demo account for 3 months only will be enough to learn this business and to have a new skills by losing some unreal money.the demo account is a great way to have the experience without losing real money .

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    Quote Originally Posted by rully View Post
    exactly i want to know how many months can improve our skill in trading? so that i can follow your sugestion sir...
    There's no exact number of months to improving trading skill... It depends on ourself, our concentration, willing, and our capability to handle/solving market issue.... but for basic trading knowledge, I think 3 months is enough.... Usually in 3 months, we can see various movement market pattern.

    The hardest thing in forex trading is we need to know and we need to decide what technique to follow trend...
    It could be months until years... because market always changing its pattern.

    so, in first years, its better using demo and real account with smallest money to deposit. and prepare ourself to loose it.

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    No from my side because all we know that forex is a risky business and risk is necessary here if you wan't to trading and without risk you can do trade there is always risk in your trade but you can only reduce it only by using stop loss but if you are a old trade and you have good sense of market then you can earn good constant profit here

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    Obviously there will always be some fears of losing money, that's because the forex business contains high risk and only the traders who can take the risk should invest in this business, and should always remember than they should not invest what they afford to lose otherwise the forex has high risk of losing money.

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    Quote Originally Posted by Razor1911 View Post
    Obviously there will always be some fears of losing money, that's because the forex business contains high risk and only the traders who can take the risk should invest in this business, and should always remember than they should not invest what they afford to lose otherwise the forex has high risk of losing money.
    I agree with Khimi, that every trader must set SL. This is the only way for us to reduce our fear of loss.

    Its true Forex is very risky, in fact for some people assume forex is very high risk... But I think the risk in forex is not very high, however we still can manage that risk so we're not going bangkrupt.

    The best solution to handle this risk is we have to calculate how much lot we gonna trade. If we trade with appropriate lot, than the risk is not that high, even we can take risk only 1% from out total equity. It's very small risk and we don't have to fear about loosing money.

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    yes my brother we should to believe that loss is the part of trading and all others business and no one can eliminate loss from forex but we can reduce the loss intensity by getting knowledge and experience. and i prefer demo account very much for this purpose because with the help of demo account we can get experience and knowledge and these abilities can kill fear of loss.

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    as well the forex traders believe that the forex loss is the part of the forex trading but the fear is not the good for the trader to have ,because the fear to loose will never let the trader to trade with the concentration and with the good trading strategy as he will have the fear in the forex trading .

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