In the forex market, fear has many faces
Many traders will testify that fear plays a major role in why they are not profitable. In the forex market, fear has many faces, tthe market will always try to scare you out of a trade only for price to move in your direction after you exit. I created this thread so we share the faces of fear we have experienced as forex traders. Feel free to share your fear!!!
Fear of the ranging market
This is one fear that plagued me as a beginner. Whenever I saw a ranging market, I became confused and kept switching from buy to sell till I burnt out.
But now I know better, if I see a ranging market I just look for the candle stick pattern that started it and place my stop loss below it.
I dont panic even if I see price going towards the stop loss, I just hold my position and wait for a breakout.
Fear of losing profits, I had to battle with that one for one year 😂
Fear of losing profits, I had to battle with that one for one year 😂
I had to start waiting at break even to cure my fear of losing profits, at least at BE I know eve if i lose the profit I wont make a loss