Are You Afraid of Trading?

[densus88]

I think that courage is very much needed, but self-confidence without proper knowledge of the basic trading skills will only lead to disaster. I am not really a professional trader and most times when the market or chart looks so scary, I just take my leave to avoid taking some actions that I might not be able to explain.

I will rate my trading skills 25% as my skills are not worthy to be called a good trader, this is because I have not really gotten the time to focus there yet, because I know without full focus, it might be disastrous.

when I see a scary graph I also don't trade and it's better to wait until the market improves. because I'm still learning in trading and also not a professional trader. I have a busy life in the real world so I can't focus on learning to trade, sometimes I also make the wrong strategy until I fail and lose. but this is a lesson for me to be able to gain experience in trading.

[ajiz138]

I think that courage is very much needed, but self-confidence without proper knowledge of the basic trading skills will only lead to disaster. I am not really a professional trader and most times when the market or chart looks so scary, I just take my leave to avoid taking some actions that I might not be able to explain.

I will rate my trading skills 25% as my skills are not worthy to be called a good trader, this is because I have not really gotten the time to focus there yet, because I know without full focus, it might be disastrous.

when I see a scary graph I also don't trade and it's better to wait until the market improves. because I'm still learning in trading and also not a professional trader. I have a busy life in the real world so I can't focus on learning to trade, sometimes I also make the wrong strategy until I fail and lose. but this is a lesson for me to be able to gain experience in trading.

I also do the same thing, when the market is very bad then it is better to wait until the market improves, yes even though there is no such thing as a good market when trading because it can still give us losses.

However, we are not professional traders who can be that good at analyzing, also trading becomes additional income because we have other jobs.

[Uruhara]

I also do the same thing, when the market is very bad then it is better to wait until the market improves, yes even though there is no such thing as a good market when trading because it can still give us losses.

However, we are not professional traders who can be that good at analyzing, also trading becomes additional income because we have other jobs.

I even tend to close the market when my position is still in a losing position. And I will wait for the market to improve before looking back at my assets to see whether they have recovered or not. because if we continue to monitor the market when we are losing then it will only disturb our minds and sometimes we will lose focus on our work. Unless we are professional traders then they definitely have a way to handle it better.

[LUCKMCFLY]

After entering a trade and setting TP and SL you just have to wait for the conclusion either it hit your tp or sl that just the mindset a trader need to stick to.

Undoubtedly the stop, take profit gives absolute security, whether you lose or win, if you lose then obviously you will take a stop , but the most that can happen to the person is that, to lose, and that loss will be controlled, things like that are safer, but losing is always present, as well as winning, in trading there is a particularity or something that I have in mind, if I see that I have more losses than profits then I stop and analyze, because I am not perceiving the correct sense of the market, it means that I must change my way of analyzing the market until I finally obtain more profits than losses, always guaranteeing a positive balance.

[ajiz138]

I also do the same thing, when the market is very bad then it is better to wait until the market improves, yes even though there is no such thing as a good market when trading because it can still give us losses.

However, we are not professional traders who can be that good at analyzing, also trading becomes additional income because we have other jobs.

I even tend to close the market when my position is still in a losing position. And I will wait for the market to improve before looking back at my assets to see whether they have recovered or not. because if we continue to monitor the market when we are losing then it will only disturb our minds and sometimes we will lose focus on our work. Unless we are professional traders then they definitely have a way to handle it better.

Stop loss is the best choice to apply, we have to do analysis and set stop loss at the right price, and wait and hope the price can turn around and give us profit.

But again, it will be our own choice, because we should know what is best for us to do when in certain circumstances, and closing the market can also be an option when we see a bad price movement accompanied by bad news.

[enwi]

Stop loss is the best choice to apply, we have to do analysis and set stop loss at the right price, and wait and hope the price can turn around and give us profit.

But again, it will be our own choice, because we should know what is best for us to do when in certain circumstances, and closing the market can also be an option when we see a bad price movement accompanied by bad news.

Using stop loss function to set the risk limit is one of the processes in trading that is about to be learnt in the trading world. I concur that this is among the ways through which one can set a limit to avoid getting involved with a risk that will seem to grow bigger each day. Nevertheless, there are cases when waiting for the reversal of the price indicated as fairly profitable, but sometimes I think the exit is appropriate in the case if the external conditions make them worse. It is indeed true that these aspects are person dependent because people have different approaches and thinking processes when it comes to managing market conditions. The most important aspect is to believe in whatever decision that has been made in advance and to be prepared for whatever that happens next. There are no good or bad strategies, only analysed choices and preparation for such eventualities that are likely to happen in the process.

[Uruhara]

I also do the same thing, when the market is very bad then it is better to wait until the market improves, yes even though there is no such thing as a good market when trading because it can still give us losses.

However, we are not professional traders who can be that good at analyzing, also trading becomes additional income because we have other jobs.

I even tend to close the market when my position is still in a losing position. And I will wait for the market to improve before looking back at my assets to see whether they have recovered or not. because if we continue to monitor the market when we are losing then it will only disturb our minds and sometimes we will lose focus on our work. Unless we are professional traders then they definitely have a way to handle it better.

Stop loss is the best choice to apply, we have to do analysis and set stop loss at the right price, and wait and hope the price can turn around and give us profit.

But again, it will be our own choice, because we should know what is best for us to do when in certain circumstances, and closing the market can also be an option when we see a bad price movement accompanied by bad news.

Well, we also have to assess the situation in the market. because we don't always have to trade every time we open the market. because there are times when the market becomes very difficult to analyze and has the potential to cause us losses if we force ourselves to continue trading in a market situation that is not so good. So yeah, you have to look at the situation in this case too. And yes, staying updated with the latest news will be very helpful in this matter.

[Aanuoluwatofunmi]

There's nothing like getting afraid of trading, if you know how to trade, you will go for it and take the risk in it to trade, if you cant afford taking the risk, don't trade, also, if you're still learning on how to trade, then don't use huge amount on it, instead start small after you might have stated with demo account to trade with, when all the necessary things have been put in place, we cant have any reason to be afraid of trading, instead we are going to build more on our confidence to trade.

[Baofeng]

I'm not afraid of trading, the thing though is that you really need to spend a lot of time and effort in trading if you really wanted to become successful. You won't learn everything overnight.

So if you are not that kind of individual who has a lot of time in your side, then maybe trading is not for you and should be sticking like being a long term investor.

[DragonF]

I'm not afraid of trading, the thing though is that you really need to spend a lot of time and effort in trading if you really wanted to become successful. You won't learn everything overnight.

So if you are not that kind of individual who has a lot of time in your side, then maybe trading is not for you and should be sticking like being a long term investor.

I think that it is not only about the time and efforts spent on trading but rather the understanding that there will certainly be losses. Some newbies are afraid of losing, but they want to be like professional traders or successful traders, failing to realize that if there are no stories of losing, a trader cannot be successful. 

To profit from gambling is to be courageous. Trading involves investing funds, so a trader may win or lose. A trader must try to trade and be prepared to conduct market research in order to gradually overcome his fear of gambling. Trading can be enjoyable and profitable when there are no fears.

[r_victory]

No. I really enjoy trading, that's how I learned about cryptocurrencies, by getting involved in the market, buying coins of all kinds, I got into some trouble and had losses due to inexperience, but I didn't give up. I learned “the hard way”. Today, I prefer to buy and hold for the long term.

[DavetJack]

No. I really enjoy trading, that's how I learned about cryptocurrencies, by getting involved in the market, buying coins of all kinds, I got into some trouble and had losses due to inexperience, but I didn't give up. I learned “the hard way”. Today, I prefer to buy and hold for the long term.

Yes, if we do not have time and patience in trading, then we will never be successful in trading. And we cannot expect this. Because we have seen many people who, after entering the trading stage, start investing without gaining knowledge about the basic aspects of any training and as a result face losses. And then they call it gambling and leave the training. But again, we have seen many people who have failed in trading many times and still tried to do something good. Now the point is that we should not lose patience, we should be patient and know the basic aspects of trading, we should know about the market, then we can move towards investment.

[Joeboy]

I don't have the data but I think it would be safe to assume that people involved in cryptocurrency are more into HODLING rather than trading. We prefer hodling all because we understand well the possible risks in trading, no matter how good its potential to make money. I am not saying though that trading is something we should not get into but for now we prefer hodling as it is more passive and we can choose to forget the coins and tokens we have and just visit them from time to time.

Now, I would be honest that I am actually afraid of trading as I am not yet equipped with the skills and the knowledge as well as the experience that I must go through to be a successful one.

Do you feel the same...or do you think this is NOT the right way to look at trading?

Trading with fear is something that everyone starts with, but the starting fear is a hurdle that you must pass before you can turn into boldness to take smart trading decisions. In trading, it is always good to stick to a plan, don't just be looking at the screen and trading with the hope of getting it right, this is simply what creates fear and anxiety in the first place. Also try to assess the risk of every trading before plunging into it, and when properly assessed, efforts should e made to minimize the risk which means trade with sense. Also trade strategically,  this means that one should properly utilized the tools of technical and fundamental and technical analysis to be able to land yourself a successful and smooth trade.

[Amug123]

Now, I would be honest that I am actually afraid of trading as I am not yet equipped with the skills and the knowledge as well as the experience that I must go through to be a successful one.

I am too; I once traded and had a worse experience. Trading is time-consuming, and you need enough funds to trade, and there's always a need to be one step forward, which you cannot do if you have a day job. Timing is also very important in trading, so ample time on your side is very important. I like the easy path I can still earn because Hodling is also profitable but not as profitable as gambling.

I agree with you on this, as trading is not an easy path to follow if you are not professional in trading as it requires ample time to monitor market and make good mark decisions, truly trading is not for the faint hearted and people should  consider their circumstance and goal before venturing into it.

[Uruhara]

No. I really enjoy trading, that's how I learned about cryptocurrencies, by getting involved in the market, buying coins of all kinds, I got into some trouble and had losses due to inexperience, but I didn't give up. I learned “the hard way”. Today, I prefer to buy and hold for the long term.

Well, usually people who have experienced losses but don't give up can learn from that experience and start to enjoy trading themselves in the next step. because he understands the market better and can be calmer in trading and making profits. I also prefer to buy and hold and sell until the target is reached. And usually the Swing trade strategy is the one that is often used. But sometimes I also learn to day trade once in a while.