Let's imagine you decided to become a trader. You are very motivated guy, study technical and fundamental analysis every day. Three months later you have learned a lot of information, know all about indicators and chart patterns.
Using these knowledges you developed your personal trading strategy, backtested it and decided that it's profit and accuracy are appropriate for you.
It is time to make money using this strategy.
The strategy triggered to the current price action and you executed, for example, the long position, but.... the price started to move down and you see that your deposit is decreasing. You say: "Okay, it is normal situation", but subconsciously afraid of the potential loss.
You are monitoring the price action and waiting for the price reverse in the appropriate direction, but the price continue fall down. You decided to close the position before it is too late. You did it. And the next moment the price started to go up. Later you found that your position could be closed in profit, but because of your fear you lost money.
The fear is the worst enemy of the trader. Even if you have the best trading strategy you will lose your money due to your fear. It is not easy to do but just imagine that your trading sessions is just a game and there will no bad effects for you despite your trading decisions. You should believe in your skills and destroy the fear to make money.
This is the biggest problem i faced in trading!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Using these knowledges you developed your personal trading strategy, backtested it and decided that it's profit and accuracy are appropriate for you.
It is time to make money using this strategy.
The strategy triggered to the current price action and you executed, for example, the long position, but.... the price started to move down and you see that your deposit is decreasing. You say: "Okay, it is normal situation", but subconsciously afraid of the potential loss.
You are monitoring the price action and waiting for the price reverse in the appropriate direction, but the price continue fall down. You decided to close the position before it is too late. You did it. And the next moment the price started to go up. Later you found that your position could be closed in profit, but because of your fear you lost money.
The fear is the worst enemy of the trader. Even if you have the best trading strategy you will lose your money due to your fear. It is not easy to do but just imagine that your trading sessions is just a game and there will no bad effects for you despite your trading decisions. You should believe in your skills and destroy the fear to make money.
This is the biggest problem i faced in trading!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
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Access free SmartTrade terminal and automated AI bot at app.skyrex.io