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Stop fear dominating your trading decisions… Here's how

by , 29 July 2015

When money is at stake, it's likely to get your nerves jangling.

Think about when you're about to put a trade on. All of a sudden your head is full of what ifs, second guessing your decision.

What if the market goes against you as soon as you enter a trade?

This fear is a natural reaction to risking money.

So how can you overcome your fears when trading?

Read on to find out…

You need to plan for fear when trading

You need to expect your nerves to kick in and the second guessing to start in your head when trading. It’s part and parcel of trading for most people.

By planning for this stage in your trading strategy, you’re more likely to continue with what you initially planned to do and put on a trade. Expect fear to strike.

The same goes for selling out of a poorly performing trade, Charles Del Valle in Strategic Investments explains. What if you sell just before the market turns in your favour?

The key is not to let fear stand in the way of your trading. You don’t know what the future is going to bring. Nor does anyone else.

All you can do is aspire to achieve your goals. And if you want to make money on the markets trading, don’t let fear stop you.

Determine if your fear is rational or irrational

If you believe in a trade you’re putting on, such as your technical indicators are screaming buy, don’t let fear stop you from making that decision. If you’re strategy is telling you to put a trade on, put your fear down as irrational and go for it.

If the trade proves you wrong, you’ll learn from the mistakes you’ve made. Then you can move onto your next trade.

By letting fear dictate your decisions, you’re putting future profits at risk.

If fear hits, check whether it’s rational or irrational. It’s usually the latter.

So there you have it. Here’s how to stop fear dominating your trading decisions.

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Stop fear dominating your trading decisions… Here's how
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