How to rise above the fear of losing money in trading?
The difference between winners and losers is that winners do not fear.
They approach trading with a flexible mindset, allowing them to listen to what the market is telling them while moving in and out of transactions without being irresponsible.
Their primary focus at the end of each day is their overall result after a series of trades, refer as a sample.
Average traders, on the other hand, are reckless when they win and terrified when they lose. They get overconfident and take too many risks when things are going well, which can result in large losses.
Then, after a major setback, their self-assurance is destroyed, and they become fearful of taking additional risks in the future.
Trading is a difficult job.
Many anxieties can paralyze you, preventing you from making sound trading judgments. You're afraid of making a mistake, losing money, missing out on possibilities, or losing money.
Your attitude toward life in general, not simply the stock market, is the root of these anxieties.
Consider the case of a little child who was bitten by a dog. He now has an irrational fear of dogs as a result of this.
However, not all dogs are like the one that bit him as a child, and his fear of them is preventing him from exploring other options in life.
If you don't let your worries keep you from having positive encounters with dogs, you can overcome the fear of the dog.
Exactly the same need to practice to rise above the fear of losing money in trading.