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How to start like a pro? - afraid to open trades

  • #1
  • First Post: Sep 23, 2014 10:26am Sep 23, 2014 10:26am
i dont know how to start this thread but i can till you that

i do my home work about the currencies and how to trade.
how to use leverage and trade in demo accounts
i put a full staratigy that really it is gain more that it lose (not perfect but good one)
but i find very hard to open any trade in live account

also if i open some for 2 days i close all of it (with profits) and not open any more

i dont like to open any positions any more in live account i dont know may be because i afraid i may lose some money ??!!!
i try to put a targets,trading timing notes and reminders but when the trading time is near i feel lazy to open the laptop or the trading program and start analyzing and trading.

any one can help me please i think it is psychical thing.
  • #2
  • Sep 23, 2014 12:47pm Sep 23, 2014 12:47pm
Walk out to the street. Look in your wallet. Consider how much you could comfortably grab, pull out and just throw into the wind.

Then turn around and walk back inside, with virtually not a care in the world.

How much was that? 1 pence? 5? 1 pound? 5 pounds? 20? 100?


Trade live just below where you start to care just a little bit:

Where it gives you enough incentive that you are 'earning' something (making 1 pound in a day/week is completely pointless for some) that makes you take notice, even if just enough to buy some gum.

Where it won't make you a bit ill, with a sick feeling in your gut and not able to consider how you're going to get that money back...

IF you earn something, you can be proud. When (not if) you lose some money, it won't cause you too much stress and get you too emotional, which is what you'll need to deal with when the numbers go up...as you're bound to (on one or more occasions) trade a bit too much, risk too much and get bitten.

If you're faltering this early in the game, I'd say you aren't really ready and need to understand the costs, leverage, account size, trade size and risk.
  • #3
  • Sep 23, 2014 12:54pm Sep 23, 2014 12:54pm
One great tip I once read by a trader named "CodyB" (if I'm not mistaken) is that you have to imagine the money is already gone. Well, that's great because sooner or later you'll lose it anway. But maybe after a couple of margin calls you'll get it and start building up a respectable account. Whenever you trade with real money, you shouldn't attach any feelings to it. Sounds easy but it's quite hard.

When you win, don't worry about it. Try not to feel too happy (danger of over confidence)
When you loose, don't care too much about it. (danger of fear of trading)
  • #4
  • Sep 23, 2014 1:55pm Sep 23, 2014 1:55pm
When you are getting the jitters before entering a trade do one thing

"Focus on what you can win...not what you can lose."

Losses will undoubtedly occur, but if you have a good strategy and good money management, you'll win overall.
  • #5
  • Sep 23, 2014 2:02pm Sep 23, 2014 2:02pm
it is psychological thing, confidence

and it is in fact NOT about how much capital you don't care to lose (or you imagine lost), -- again, it is NOT

confidence ultimately comes from your performance. you have to perform well to gain confidence to perform well ---- isn't it egg->hen->egg-->hen......? who's cause and who's outcome?

let me directly make my point:
1. you need to use you full heart, brain, and focus to place a trade. (key is full focus, not simulation, demo, or LIVE)
2. do 1 for 1000 times
3. review your trades, and know your strength and weakness, your confidence will grow

repeat this 1,2,3 for a few times, you will be ready for LIVE trading.

those with gift might finish this process quickly. those with naive imagination will simply waste time wondering on forums.
  • #6
  • Sep 23, 2014 4:05pm Sep 23, 2014 4:05pm
Hi Hamedmohd,

I do know exactly what you mean. Maybe you can read this thread, in which I described how I conquered or at least bring it down to an level that I can deal with it.

http://forums.babypips.com/trading-p...ing-trade.html

If you have further questions, do not hesitate to contact me here or on Babypips forum.

Hopes it will work for you too!!!
My to copycat way to generate additional passive income!
  • #7
  • Sep 23, 2014 4:17pm Sep 23, 2014 4:17pm
Quoting Nefser
Walk out to the street. Look in your wallet. Consider how much you could comfortably grab, pull out and just throw into the wind. Then turn around and walk back inside, with virtually not a care in the world. How much was that? 1 pence? 5? 1 pound? 5 pounds? 20? 100? Trade live just below where you start to care just a little bit: Where it gives you enough incentive that you are 'earning' something (making 1 pound in a day/week is completely pointless for some) that makes you take notice, even if just enough to buy some gum. Where it won't make...
i understand what do you mean and i think the most problem i have is not the fear of loasing money but the fear of my system not working will

any how today i made the lest and am starting now opening positions

i will try to beat my fears

thanks guys
i think when i read the posts it gave me some confident
  • #8
  • Sep 23, 2014 4:19pm Sep 23, 2014 4:19pm
Quoting ExForX
One great tip I once read by a trader named "CodyB" (if I'm not mistaken) is that you have to imagine the money is already gone. Well, that's great because sooner or later you'll lose it anway. But maybe after a couple of margin calls you'll get it and start building up a respectable account. Whenever you trade with real money, you shouldn't attach any feelings to it. Sounds easy but it's quite hard. When you win, don't worry about it. Try not to feel too happy (danger of over confidence) When you loose, don't care too much about it. (danger of...

i will try to imagine it and will see the results.
  • #9
  • Sep 23, 2014 4:21pm Sep 23, 2014 4:21pm
Quoting charvo
it is psychological thing, confidence and it is in fact NOT about how much capital you don't care to lose (or you imagine lost), -- again, it is NOT confidence ultimately comes from your performance. you have to perform well to gain confidence to perform well ---- isn't it egg->hen->egg-->hen......? who's cause and who's outcome? let me directly make my point: 1. you need to use you full heart, brain, and focus to place a trade. (key is full focus, not simulation, demo, or LIVE) 2. do 1 for 1000 times 3. review your trades, and know your strength...

i think this may help me ... you got my point

will try
  • #10
  • Sep 23, 2014 4:25pm Sep 23, 2014 4:25pm
Quoting Gareth22
When you are getting the jitters before entering a trade do one thing "Focus on what you can win...not what you can lose." Losses will undoubtedly occur, but if you have a good strategy and good money management, you'll win overall.

just an info that in most of books that i read the big players in investment they first consider how much they may lose before speaking about the estimate profits.
  • #11
  • Sep 23, 2014 4:25pm Sep 23, 2014 4:25pm
Quoting Dutch-Trader
Hi Hamedmohd, I do know exactly what you mean. Maybe you can read this thread, in which I described how I conquered or at least bring it down to an level that I can deal with it. http://forums.babypips.com/trading-p...ing-trade.html If you have further questions, do not hesitate to contact me here or on Babypips forum. Hopes it will work for you too!!!

i will read the thread and see what can i get from it

thanks.
  • #12
  • Sep 23, 2014 4:47pm Sep 23, 2014 4:47pm
You are more than welcome!!

I know what it is first-hand.

Best of luck, that you may find your way too to control the "beast" within you!
My to copycat way to generate additional passive income!
  • #13
  • Sep 23, 2014 4:49pm Sep 23, 2014 4:49pm
Quoting Dutch-Trader
You are more than welcome!! I know what it is first-hand. Best of luck, that you may find your way too to control the "beast" within you!
😂😂i hope that also
  • #14
  • Sep 23, 2014 10:07pm Sep 23, 2014 10:07pm
try doing that again and again, you'll get used to it, or bored to the point that you don't care anymore
and average your win / lose ratio into wider time frame
it helps, but won't remove it completely, if any, you should spare some of that anxiety. the passion of trading
  • #15
  • Sep 23, 2014 10:59pm Sep 23, 2014 10:59pm
Quoting hamedmohd
i dont know how to start this thread but i can till you that i do my home work about the currencies and how to trade. how to use leverage and trade in demo accounts i put a full staratigy that really it is gain more that it lose (not perfect but good one) but i find very hard to open any trade in live account also if i open some for 2 days i close all of it (with profits) and not open any more i dont like to open any positions any more in live account i dont know may be because i afraid i may lose some money ??!!! i try to put a targets,trading...
Open up an account with the minimum ie $200 in some brokers with 400:1 leverage .. trade micro lot 0.01 nothing larger.

Don't over trade and keep the positions in G5 until comfortable trading something else.

It may take awhile but you will learn to control your emotions.

Good luck
  • #16
  • Sep 24, 2014 2:20am Sep 24, 2014 2:20am
Afraid to open trades ..

Focus on what you can lose and not what you can win like 99.999999 % of losing traders.
  • #17
  • Sep 24, 2014 5:09am Sep 24, 2014 5:09am
Quoting Mingary
Afraid to open trades .. Focus on what you can lose and not what you can win like 99.999999 % of losing traders.
Most traders probably fail due to over trading, in which case they can't be struggling with fear. I agree if you over trade, one should focus more on risk.

If you are scared to trade, you are already too focused on what you can lose hence the purpose of this thread?
  • #18
  • Sep 24, 2014 5:34am Sep 24, 2014 5:34am
Nefser offered the best advice by far.

If you can't pull the trigger with confidence then one question comes to mind. How many trades have you taken using your method on a DEMO account? If it's less than 50 trades then your problem isn't lack of confidence due to psychological reasons but for a MUCH better reason.

You are not confident in your trading method...yet. Practice it on a DEMO account for a month or 50 trades. Put in exactly the same amount of money you are gonna trade with and take every single trade you think fits your trading method/system. The education and the experience come through the exit, good or bad trade.

Really focus your technique on how to exit a trade if it goes bad on you. The DEMO account will allow you to gain experience in entering/exiting/money management/lot size/market volatility. Don't be afraid to pull the trigger on the practice account as this offers you valuable experience in getting out of a trade for limited loss or no loss at all.
Everything easy was hard at first
  • #19
  • Sep 24, 2014 6:04am Sep 24, 2014 6:04am
Quoting ocd
Nefser offered the best advice by far. If you can't pull the trigger with confidence then one question comes to mind. How many trades have you taken using your method on a DEMO account? If it's less than 50 trades then your problem isn't lack of confidence due to psychological reasons but for a MUCH better reason. You are not confident in your trading method...yet. Practice it on a DEMO account for a month or 50 trades. Put in exactly the same amount of money you are gonna trade with and take every single trade you think fits your trading method/system....
exactly
cant agree more
  • #20
  • Sep 24, 2014 6:05am Sep 24, 2014 6:05am
Quoting lasty
{quote} Open up an account with the minimum ie $200 in some brokers with 400:1 leverage .. trade micro lot 0.01 nothing larger. Don't over trade and keep the positions in G5 until comfortable trading something else. It may take awhile but you will learn to control your emotions. Good luck
i like your idea i have a live account with 50$ on it i will try with them as you say nothing to lose
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