After knowing the 2 types of fears that can arise in trading, let’s continue our discussion.
Fear of Missing Out
When the price of an instrument rises, the traders usually buy it immediately. They often do not check what’s behind the rises prices. Moreover, they also afraid of losing the opportunity.
In fact, it is better losing the opportunity than losing the money. The opportunity will come and go so that we can achieve it as long as there is money to buy.
Fear of loss
Generally, trauma from loss lasts longer than pleasure from profit. Losses in a row make the trader do everything they can to do no loss.
Some of them are like holding losses that far exceed the risk limit, but the chance of loss becomes even greater. Besides, the traders might hesitant even do not challenge the transaction when the opportunity and analysis are right.
Fear of having less profit
This condition is still related to the effects of trauma due to loss.
In trading, profit and loss come together. Every time a transaction, the risk is always coming. It is okay if you have less profit than a great risk.
According to Money Show, as a trader, you have to move from a fearful mindset to a mental state of confidence. Additionally, you must believe in your ability to execute every trade. Believe in yourself that you are the best trader.
After knowing the five types of fears in trading, can you believe in yourself that you can move from the fearful mindset?
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