Ways to overcome trading fears in winning trades

At beginning we just want a system which works. Several month or a few year later we got the system and we knows the error are in us.
At this point I am now.
I can make nice returns per monthin demo account in live to,but I am loosing the control when the trade goes in my desired direction. Esier to loose in live account, more easier if you took a loan!

When I see I got 1 2 or 10 % return of my capital I am scared to not loose it and I am banking the profits. With live account more over: I am thinking how manyi made compared with my monthly saving at the regular job. Ofc this is not good and leads to loose control.


"cut your looses and let the profit run" looses runs much more than my proft. There I have no fear: or I close, when I realise is went on wrong direction, or I do another trade to average it.

What to do to overcome the fear of a winer trade will become a loosing one and let it run?

Here i want to suggest u that u have to control your profit and losses with its limits, you have to set the limits time to time when your profit will going to upward... on the other side you have to set the stop limit of losses according your amount that u set as Risk margin.
Just only a simple way to stop your profit to losses...

Hope the best...

Fear is a great obstacle to make profits. Feared traders having no courage to take risk . In forex we need some risk taking to get rewards. In fear we mostly close our positions in low loss . Do trading in micro lots and get small profits it will helpful to overcome your fear

thinking in terms of points and percentage instead of $$$ helps

wendigo

plan your trade and trade your plan...

obviously you are much better at doing this in demo than in real, this would suggest that you have not traded your demo account long enough to trust your system. i'd suggest going back to demo, or trading the smallest lot size you can and monitor it via pips and not $$$ (as Wendigo suggest).

the advantage to this is that as the lot so goes up the $$$'s go up, but your still trading via the pips.

remember no interest on any bank account can offer the returns that forex can (if you get the trading done right) and whilst on small accounts the banks look like the better choice, very soon, the forex profit will out strip any bank.

but you must trust your system and trade by the rules - emotions and feelings are the killer of forex traders - shut them out of the office.

Thanks all, who have shared any ideas

For sure is not helping. Traded years.



I know this SHOULD be the correct approach. But while in live account can't think I made a full month saving in 30 min after I see XXX use plus in my account. At least last time I couldn't specially when I have used bigger found than my money ( loan ) and used more leverage as usually.

Las time I have traded with 16x more trade size than before, for a not human is not a problem , for an EA it is not a problem, but when I see a gain of +1000$ instead of 20-60$ as usually than PANIC, EUPHORIA!


Right now I can't. Sometimes even in Demo account I am closing to soon to looks better the trade explorer? -idk. Like I wrote above can't separate those +10 or +40 +120 pis in green and the money earn-t. Unless I use so low leverage as I don't care what happens there, just see how it looks like the Trade explorer.

I am thinking to add founds to demo account and make common the +1000$ daily to not have panic in live account, seriously.

Once again thanks all, who has tried to help and shared any idea.

I was same. it is a stage in your development.

how you will fix it ?

Once you KNOW you have winning system, all that crap will go away by itself. You will be able to stand many months of drawdown, you will have no fear, you will trail your winners conservatively and you will bank large profits.

Not saying it is easy to get there, but it is the only way. Before you go for it ensure you have enough stamina as it takes long time and giving up when 90% there is really sad. It is possible you will not make it no matter what you try.

well there are other ways to speed up, such as drugs, but that usually does not end well.

ooops, sorry I forgot. Once you get there it is not over. you will have to find method that suits your personality else you get physically sick. have a look at this forum. how many real happy traders that bank consistent profits ? This is the part that took longest for me.

are there no rules to exits?

trailing Sl by 20pips or 1000pips, trailing Sl from last swing High/Low, Trailing SL by MA, Exit at XXpips, Exit when 3 bars show reversal, exit when reversed entry is indicated.......and so on

again your issue comes back to not knowing your exit rules or not trusting them

entries are easy...exits are the hardest part of any system or emotion in trading and possibly the most crucial thing to get right.

without understanding your system and rules it's hard to give solid advice, but if you've been at this for years, you should have sufficient data to know if your system has a simple exit e.g. 50pips - set and forget or if a trend/trail system is best.

I think you suggest to use less leverage and be able to receive more consecutive draw downs.
If I do that, than: at the end of the months I wiil not have +20% or +50 % just maybe +5% and in the whole 12 months I will have +50%. Yeah on that case no fear, since leverage used is 1:1 max 1:2. If 1:1 used, than why fill up account in Forex?! - no reason at all to pay the transfer fees 2x.



There are, and in demo and in live account until I play with small money I use it. When live account and the account goes above XXXX than I lose control over myself and start making decisions, taking entry and exit points which I would never take in other cases.

Unfortunately I have proved for myself the indicator based or XX pip based TP system is weak, not efficient and is not for me.

My exit point should be: - when I don't forget or not lost my control - maybe I ned to print it and put everywhere over the house...
- if the trade is intraday(5m to 4h), scalping one:
- if is on profit than close it before major news release or news with expected high impact: NFP, FOCM, unemployment and so on.
- if is on lose: close or hope in spike for my favor, depends on my emotions and if I can be online or not :

Sometimes news spike go agains the news results. Those are the most profitable scalping trades. But not every time I am online, not every time I feel good for trade and so on.

- if Friday or Monday than are special setups for Friday near London Close, near US close, Monday opening, Monday US opening, Monday London close, not sure to enter in detail, but Exit point is based on momentum and X pip movement. There I have a TP and sometimes moving 2x in my favour and sometimes need to watch because there are sign as will not move 5-10 pip more and won't reach my TP, so I need to close manually.

- Tu, We, Th: usually high impact news so that cases will apply here presented above, if not than must care if is Aug.1-Sept.15 or Dec.10-Jan.15 -holidays moths if not, also must care of the Trade session which are closing opening now, what did prev session and how. Trying to detect a ranging zone, identify a consolidation zone, a fake or not just fake breakout a trending push a pullback a trend weakening sign a reversing sign. I haven't found any indicator yet to describe it and put the news result too in prediction, estimation. There I am in trouble and can't know is a pullback and until when or is a trend change already especially when I see no consolidation, no news, just a price fall of 60 -180 pip at Eur/usd. Sometimes I do exit to soon and I see, if I would wait than the daw down wouldn't be higher than 50% and in the next day I would have +100% , but I have closed with -10% the trade. When I have 3-4 of thins consecutive in 100-200 trades my happen, than I am searching a place in wall to put my had on it.

- if the trade is a swing type ( daily , weekly chart) has to low leverage to care, I am closing when I see the unexpected news changed the trend or it was sign of weakening, consolidation, failed HH or LL.

About leverage:
In another thread I have calculated and proved for myself at least:
if I have a system with 60% win 40% loss, than the optimum of the risk is 20% of the capital MATHEMATICALLY. You can write a little software or even an Excel and do your math. It is not 1% it is not 2% but is 20% on this case.

If I (should) risk 20% at least theoretically and I can have 20% DD 3 or even 5 times consecutive ( in 300-500 trade ) How to now fear at a winning trade of +20% can become -20 % in 1h , in 40-80 pips ?

To open a position I have no fear: or it meets any of my entry rules or not, is simple, in plus even if I would take a random entry than it can be corrected with exit, if no abusive leverage is used.
Maybe the exit rules aren't so hardly defined as entry?

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I think you suggest to use less leverage and be able to receive more consecutive draw downs.
If I do that, than: at the end of the months I ail not have +20% or +50 % just maybe +5% and in the whole 12 months I will have +50%. Yeah on that case no fear, since leverage used is 1:1 max 1:2. If 1:1 used, than why fill up account in Forex?! - no reason at all to pay the transfer fees 2x.
----

I duno about you but I get nervous when holding position couple of m.

10% sudden jumps are possible (see eurchf for example) and you out cool several 100K in a second.

if you have not experienced that yet, no worries, you will likely with the largest size ...

Hopefully not this is the correct response:
http://www.forexfactory.com/showthre...14#post1613514

I have payed already thousands of dollars for my live lessons over years. Need more thousands?

10 lot is 1M, 1 pip movement is 100$ with 1Million trade size.

20 pip is 2k usd in plus or in minus.....

At 20 pip can't set a TP, where to set it?
On a 10k account the -2k is the 20% . With 1:100 leverage and 10k account you can trade 1M, at least once...I can't think yet: oh it is only 20 pip what the hell... man it is 2k that is maybe several months of my economy ( salary - expenses)



Having a +1k$ and closing the trade of fear to not become a -2k$ about that I am talking. - not having a +5$ and fear to not loose 10$, nor fear to lose 20$ from 100$

I close and look back in history I see it would go to +500 or -1k than to +8k ... and than I think my system need to improved to allow that, so instantly break my rules, because I will change the system if I see 8 more times consecutive this... and very easy to find 5 consecutive trades in my trade list, where if I wouldn't close I would earn more , a lot more.

This is on a small Demo account: but I think this will be the one of those, which would be more profitable, if I would let the profit run, but I closed before Unemployment claims in August, which is an real exit point...

There is no need to pay any money for trading lessons. The only valuable lesson is trading itself.
If you after years of trying are still unsatisfied with your trading behaviour then one important question to ask yourself is: if trading is suitable with your nature at all? Most people simply cannot do it.
So, better to answer the question very honestly before it is too late. Trading addiction can be a psychiatric problem. Better to be honest to yourself before sinking in deep shit.
Besides, trading is a huge waste of time if no success. The same time could be used in some more useful way.

Indrek

Interesting that in every other worthwhile profession, some education is required and usually has a cost associated with it.

Trading is no different if you plan to make it a career.

The critical issue is getting the right education and then applying it - and that usually costs - either in paid education materials and/or losses.

Thinking you can out-smart and out-trade others that have more resources and more information by being self-taught is a delusion.

If you can do it or have done it, you are the quite the exception and my respect.

However, such will not be the case for most and there are plenty of good "paid for" resources that can be of great value.

All the best.

dcginc

As a professional trader who has never paid any money for forex lessons, software, indicators nor anything, I do not agree. All needed resources are available in internet for free. Just have to read much, think very much and practice very very much.

agree. Any part of method that I use is against what is common belief and part of courses. And profitable.

however, I did find final touches on internet from a 3 x guys, but had to dig thru lots of garbage.

here is one - you have to do your own thing and find niche in the market.

while I am trading I pay those lessons. Market is the teacher.

it will take 1 day more or 50 year more doesn't matter I want to be an extremly good trader.
Started trading around 4 and a half years ago.

Common courses have organized by brokers or people connected to brokers. Their goal is to make you addicted, and certainly not too good
Besides, nobody would publish a really good and working trading system in internet and nobody is going to share it during any courses. The very system is the biggest business secret that a professional trader has.

however, there are good things to be found on internet. step 1 is to identify real traders that make profits and follow them. You do this by following their calls or comments. ignore the rest. 10V may not necessary be reliable criteria as I found here traders with no V-s to be real deal.

Really, one should avoid 10v as they reflect common thinking

that's correct attitude.