The Four Faces of Fear

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The Four Faces of Fear

Postby painofhell » Sat Aug 16, 2014 3:29 am

Right now I'm reading Trading in the Zone, a book on trading psychology by Mark Douglas. This book has been widely praised, and discussed extensively here on InformedTrades; I highly recommend folks check out Larry Folson's course and Magic's Trading in the Zone review to learn more and check out some great resources that are complementary to the book.
Like many others who have studied trading psychology or have traded themselves, the book identifies fear as the primary emotion that blocks traders from succeeding. Specifically, Douglas refers to the four types of fear traders face:

1. Fear of being wrong -- creates agony over entering trades
2. Fear of losing -- this often results in holding on to losing positions
3. Fear of missing out -- leads to chasing price and poorly timed entries
4. Fear of leaving money on the table -- translates to holding on too positions too long and poorly timed exits

For an audio/visual look at this subject, try the short video below.
[youtube]https://www.youtube.com/watch?v=wqqWuyMPpBg[/youtube]
In terms of overcoming those fears, Douglas notes the importance of finding your edge and trusting it. Knowing your edge, gaining great confidence in it, and taking full responsibility of your trades is what Douglas prescribes as the antidote to fear.

These are simple concepts, but I thought they were worth highlighting -- especially for active traders, and those seeking to live the dream of trading for a living.
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Re: The Four Faces of Fear

Postby forex_edo » Tue Aug 26, 2014 10:52 am

Fear is as an indicators that the money invested/deposited in forex is belong to primary needs. He afraid of loosing it.
So, don't try use your primary money. just use unused money in forex trade, so you won't fear of loosing it.
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Re: The Four Faces of Fear

Postby vuanh » Tue Aug 26, 2014 11:37 am

i think this is the most reason for trader. but we need know if we do not lose. we will not earn money.
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Re: The Four Faces of Fear

Postby balat1990 » Tue Sep 30, 2014 9:55 am

yeah. we must put it on a side. we need action. don't fear . because no lose no gain.
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Re: The Four Faces of Fear

Postby vuanh » Wed Oct 08, 2014 12:15 pm

we always fear. but i think i can encrease it when we has a good training. when we practice on demo account we can decrease this fear
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Re: The Four Faces of Fear

Postby eko_ddie » Mon Oct 13, 2014 1:08 am

Are you fear of losing in forex???

You will never get it again after you joined and participate in MLM business on Liteforex broker..
Its an MLM program that adopted in forex.
In program called "Bring a Friend 2.0", you will get more huge EARN from there...
$15>>> bring one clients
$10>>> ur friend's friend bring one clients
$5>>> third level
$2>>> fourth level.
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Re: The Four Faces of Fear

Postby fxcouch » Fri Nov 07, 2014 3:14 pm

Not fear but dissapointment a little bit. But I uphold myself thinking that I haven't lost I just made an investment in my education..
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Re: The Four Faces of Fear

Postby small_pips » Thu Nov 27, 2014 6:17 am

eko_ddie wrote:Are you fear of losing in forex???

You will never get it again after you joined and participate in MLM business on Liteforex broker..
Its an MLM program that adopted in forex.
In program called "Bring a Friend 2.0", you will get more huge EARN from there...
$15>>> bring one clients
$10>>> ur friend's friend bring one clients
$5>>> third level
$2>>> fourth level.


Yeah I know those program sir..
For all members here, you can visit these link.
http://www.liteforex.com/promo/codes/?code=bringafriend
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