Are you afraid of Loosing Money in Forex?
I am new in forex trading and due to this afraid for losing my hard earned money. As forex trading involves high risk. Even, I am following expert's suggestion regarding this.
Yes everybody is afraid of loosing their money in these markets as these markets are risky and unpredictable as well so the fear of loosing money is always there.A trader needs to always trade by using proper money management and put stop loss to his trades so that the losses will be minimum if the markets reverse from direction of his trade. At the same time a trader needs to control his fear as well to perform quality trades.
I am agree with Angelnish. Each and everyone in forex market is afraid to lose money. As they are doing forex trading for making money not losing. Forex market involves high risk and there is same chances of losing money as making.
If you see someone taking your money, are you afraid?Forex is a shark and if you made a mistake, he would swallow your money. I hate the feeling when the market reverse as my thinking.
Who are not afraid of losing in Forex. We are always afraid of lose when we trade in Forex. But losing is part of business, that's also true. We are all trading in Forex. And in any trading business losing money is a part of business. But with our skill we can stop losing money in Forex. So skill is very important to earn profit in Forex trading.
I came to forex trading by knowing that loss also present in here,so i am not afraid about my loss but i will try to minimize my loss and maximize my profit by my trading study and trading strategy.
The thing is not in losses but in your attitude to it.
Losses as I think might occure in any kind of business, but you don't need to fell depressed about it.
The best solution, I think is to accept them and to find out the reason of these losses in order not to let it happen again.
Everyone has a fear of loosing money, so do I. but thought to start with a small capital.
Fear of losing money is a valid and necessary emotion in Forex trading, and it s important taht we have that fear of losing money so that it makes the trader more careful and cautious. Stop loss is good for account protection. With out stop loss is a bit risky but some traders are good with it. If you set your take profit in every position you open,you will get your profits no more no less. And if you don't your profits might turn zero in few minutes...choose.
Yes of course I afraid to loose my money. But I use this fair to manage my account and really have profit in trading on Forex/
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There are many people who are afraid of loosing money in forex Im one of them. There are times i close my trade even if its the market would still go one in the direction that i predicted mainly because Im afraid it will re-bounce back and would loose money if i did not close it. Even if it is not my money it was a bonus given to me I still get frustrated when I would make a bad trade in forex What about you? Are you afraid to take profits or loosing more money in Forex? U can share your experience here.