Feeling worried once you've taken a trade? You might have this condition

by , 21 September 2017
Feeling worried once you've taken a trade? You might have this condition
Let's paint a scenario.

You're at your computer, feeling “ready” to take on the financial market.

You see a trade has lined up and you're ready to buy a position.

You put in your trading levels and push the enter button, which get's you into your trade.

There's no going back.

All of a sudden…

You have this stomach curdling feeling. “Am I about to lose a whole lot of money?”

Here's how to overcome this condition…

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This is a condition traders tend to have in the first five years with their trading…
 
The condition is called trading anxiety.
 
They get this terrible jittery feeling of resentment, fear and even regret once they’ve taken a trade.
 
And this trading anxiety, can result in a number of negative implications. 
 
Problem #1: Trading anxiety can result in risking far too much money
 
Traders often have high expectations when they get into trades.
 
They believe that trading is an easy game to make money in the markets.
 
And so greed takes over where they risk more money than they can psychologically handle.
 
Once they’re in their trade, this stomach curdling feeling kicks in.
 
All of a sudden, reality kicks in and they develop a fear with the idea that they can lose all of their money.
 
The problem is what happens afterwards.
 
And that is, the trading anxiety get’s to the point where they start interfering with their trading plan.
 
They move their risk levels, where they can lose even more money if the trade goes against them.
 
As soon as this happens, their trading going forward is based on instinct, survival and emotions, rather than following a winning trading plan.
 
And because the market doesn’t care about their feelings, this is the reason why 95% of traders blow their account. 

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Solution #1: Avoid trading anxiety by risking little…
 
Traders need to only risk a tiny percentage of their portfolio per trade.
 
This is so that they can stomach their losses better (no pun intended).
 
This percentage can range from 1% risk per trade up to around 2%.
 
The less a trader risks, the less anxiety they’ll feel while they’re in their trade and the more likely they are to follow a winning trading strategy. 
 
Problem #2: Ego gets in the way of their trading success
 
The other dominant problem is ego.
 
Traders tend to allow ego and high expectations to get in the way.
 
Even if they risk 1% to 2% of their portfolios – trading anxiety may still fill them up with worry.
 
And unfortunately, this feeling is purely based on a more psychological problem – the possibility of being wrong and losing the trade.
 
When traders don’t want to be wrong, they tend to hold onto their losses longer, change their trading plan and live in denial.
 
These actions alone can destroy their trading accounts. 
If there are ever times when you feel like you don’t feel like losing out on a trade, I’m afraid you’re just not ready to trade for a living yet.
 
But don’t worry, I have a solution.

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Solution #2: Go back to paper trading 
 
Unfortunately, traders who feel sick with the idea of being wrong with trades have to go and back test their trading strategy.
 
Go to your trading  platform and back test around 20 trades.
 
Once you get an idea on what kind of losses and winners you can expect with the win/loss ratio, only then you’ll know that successful trading comes with both winning and losing trades.
 
When you back test a trading strategy, you prepare yourself for the kinds of winners and losses to come.
 
And the ego trading anxiety feeling, will be a thing of the past.

Author note: Not sure about where to find a winning trading strategy or how to overcome your trading anxiety, join me at the Forex 101 Workshop and I’ll help you speed up your trading success
 
 

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