The Hidden Psychology of Trading: 10 Fears Successful Traders Overcome

Fear and greed are a trader's main enemies. Everyone knows that. The fear of losing money in a trade is understandable; it is exactly what people usually mean when they talk about that very "fear and greed", but what about other fears?

I suggest taking a look at the TOP 10 things traders are afraid of. Even if they are ashamed to admit it)

Perhaps this is the hardest fear. After all, it is backed by statistics: 90% of traders lose. True, if you suddenly decide to go into business, the statistics there are about the same: 90% of new companies close in the first year of their existence. Some more close in the next three years.

So what should you do? Stay away from both business and trading, work for someone else, and beg on your knees for 10 days of vacation once a year?

In reality, it is important to understand when you should quit if things are not working out. It definitely will not work on the first try. But how long the road to success takes is hard to say. On our forum, in the section “To Help the Trader”, there are several dozen interviews with millionaire traders. And for many of them, the period of training their skills took 3, 5, 8 years. I am not saying that you should keep trying for 8 years and, if it still does not work out, quit in the 9th year. No. I am only saying that there are no precisely measured time periods after which it will definitely become clear that trading is not for you. Only you yourself can understand that.

There is, however, a certain average figure that describes the time it takes to achieve mastery in any field: 10,000 hours. 10,000 hours of playing the violin will make you, if not a master, then at least a fairly decent violinist. Provided, of course, that you are not tone-deaf. 10,000 hours of configuring computers will make you a good specialist. And it is the same with trading. You can read more about this criterion in Malcolm Gladwell's book "Outliers."

Admit it: despite how absurd such thoughts are, when you change your strategy for the five hundredth time, it still starts to seem like there is deception everywhere, right?

There is a very simple cure: follow this link

http://www.alpari.finance/ru/investor/pamm/ratings/

This is a ranking of PAMM account managers. That is, ordinary traders who know how to make money and decided to attract investment to increase profits. In the ranking, you can see profitability, the amount of invested funds, and so on. It is impossible to fake a PAMM account, because Alpari itself acts as the intermediary and guarantor.

That is, you can see that people are making money and also managing other people's investments, taking a percentage for it.

This is not motivation in the form of photos with bundles of cash. These are simply facts. Emotionless reality with exact numbers.

If you think even this is a scam, you can look at the MQL5 signals rating: https://www.mql5.com/ru/signals. This is a ranking of signal providers from all over the world. You can become one too. This site is run by Metaquotes, a company that develops trading software for brokers. In other words, they have absolutely no need to fraudulently prove anything to some trader Ivan from Taganrog.

Deputies will come to Forex headquarters and shut it down, sure)

It is quite difficult to shut down a decentralized market. And as long as different countries have different currencies, Forex will continue to exist. If all the countries of the world suddenly came to a common agreement and introduced a single currency, then yes, the need to measure exchange rates and exchange money would disappear, but that will not happen soon. Even if we look at the future of money, namely cryptocurrencies, we will see that there is not only Bitcoin, but many other cryptocurrencies as well. Which, by the way, are already being actively traded by traders.

Thus, we come to the understanding that if ordinary currencies suddenly disappear, we will trade crypto, metals, stocks, whatever. The principles of technical analysis work on any instruments.

Let's start with the fact that you should never, under any circumstances, take out a loan for trading! No matter what the managers of that famous company starting with the letter T tell you, you must not take a loan.

Trading is already not an easy thing, and if you add the pressure of borrowed money that you will later have to pay back, things turn into a nightmare... Although, to be fair, once I got a letter from a person who told me how he took a loan of 4 million rubles for trading, successfully paid it back, and has continued trading his own money for a year already... But this is the rarest exception that only proves the rule: no loans.

By the way, taking out a loan for a car worth 1 million rubles when your salary is 30 thousand rubles is also not a very smart decision.... But that is not what we are talking about now)

"Everyone works at the factory, so you should work too!", "We were never rich, so don't even bother starting!", "Look, Vitya and his wife already had their fifth child, and you keep fooling around with your computer!" These and other phrases are what you may hear from your family, friends, parents...

Many people do not even tell their loved ones about their passion for trading at first because they are afraid of being judged. The scariest thing you can say to your wife is, "Honey, I made 200 $ today." Do you know why? A woman will immediately multiply 200 dollars by 20 working days in a month. And when, at the end of the month, it turns out that you do not have the coveted 4000 in your pocket, she will be veeeery surprised and call you an idiot or something worse) She will say that this is not work, but a scam...

What is the way out here? The optimal option is not to tell anyone about your passion for trading and to say, in response to all questions, that you trade with virtual, demo funds. And when you achieve consistency, then you can tell them. Believe me, if you are steadily making good money, people will respect you even if the source of income is betting on cockroach races. Nobody cares; the main thing is that the money keeps coming in.

This fear is entirely justified, and it should not really be fear at all. Because such a situation is more than possible and may very well happen. A trader must be flexible and change along with the market. The important point here is to understand when the idea underlying the strategy (and there must always be an idea underlying the system) has stopped working, and to be able to distinguish a losing streak from a situation in which the very idea of the strategy has become obsolete.

This is achieved on the basis of testing the system on historical data (that is, we make sure that the losing streak does not exceed the longest streak in history) and logic: whether the idea on the basis of which you built your strategy still remains valid in the market.

An amusing fear that keeps some people from opening their own PAMM account.

You do not need to worry: investors are generally sensible people and they understand the risks. The most important thing is to define those risks from the very beginning. If your trading style is conservative, with low drawdowns, there is no need to scare people with the possibility of a total wipeout. Likewise, if you trade aggressively, say so. Warn them about the danger of a total loss of funds. Honesty is the key to success.

Even more than that, there are some managers, for example this one, who sometimes manage to strongly accelerate a deposit, but more often they blow it up. And people still bring them money. Why? Greed and the possibility of strong growth. Everyone understands the risks, and everyone is fine with it.

Dannomu strakhu podverzheny te, kto nachal stabilno poluchat pribyl na protyazhenii neskolkikh mesyatsev i perezhivaet, chto vse mozhet prekratitsya, chto eto prosto polosa vezeniya.

Chto zh, vpolne vozmozhno chto vy i pravda popali v blagopriyatnyy dlya dannoy strategii period, poetomu nemnogo nastorozhennosti ne povredit. Nu a uverennost v sobstvennykh navykakh obretaetsya tolko so vremenem. To, chto vam seychas kazhetsya neveroyatnym, cherez god prevratitsya v "skuchnyy vtornik".

Ya seychas sobirayus razbit vashi mechty. Luchshe syadte. Gotovy ?

Graalya ne sushchestvuet.

Da-da, imenno tak. I kakuyu by lapshu vam ne veshali na ushi prodavtsy kursov, signalov i prochey labudy - ne verte. Oni lgut. Strategii, dayushchey 100% pribylnykh sdelok, uchityvayushchey vse nyuansy i peremennye rynka, ne sushchestvuet.

Sushchestvuyut khoroshie strategii s dolgosrochnym perevesom, sushchestvuet gramotnyy risk-menedzhment, sushchestvuet psikhologiya treydinga. Vse vmeste eto i est tot samyy, preslovutyy "graal".

Itak, vy stabilno zarabatyvaete na rynke, vozmozhno u vas est svoy PAMM-schet s kuchey investorov. Po itogam mesyatsa vy chastenko vyvodite krupnye summy, kotorykh vpolne khvataet na bezbednuyu zhizn, poezdki za granitsu i kakie-to izlishestva, vrode dorogo avto (pust i v kredit), pokhodov v restorany i t.p.

No!

Gde yakhty, chastnye samolety, tolpa elitnykh eskort modeley v kontse kontsov !!!???

Vy mozhete sebe inogda pozvolit bilety v biznes-klass, no vot chastnyy samolet ili khotya by mesto v biznes-dzhete uzhe net... U vas prilichnaya mashina, no ne ta v kotoroy est "babiy magnit"... Vy ostanavlivaetes v prilichnykh 5-zvezdochnykh otelyakh, no eto ne Four Seasons...

Ya znayu etu bol, ya ponimayu vashi chuvstva. Chtoby dostich podobnykh vysot, vam pridetsya prygnut vyshe golovy. Prosto khorosho torgovat uzhe nedostatochno. Tut neskolko variantov: otkrytie sobstvennogo investitsionnogo fonda, investitsii v biznes, sozdanie biznes-proektov, svyazannykh s treydingom i mnogoe drugoe... No eto uzhe sovsem drugaya istoriya...

Samyy effektivnyy sposob borby so strakhami - delat to, chego boishsya. Pomnite ob etom i udachi v treydinge !

A chego boites vy ?

S uvazheniem, Vlasov Pavel TradeLikeaPro.ru