EMOTION - FEAR

Emotions like fear have no place in your trading strategy; you need to have full control over all of your emotions and trade like a fearless strategic robot.

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Fear leads to a number of problems. The main reason why traders feel like this when trading is the fear of losing money. No one wants to lose money but you need to accept that losing money is part of this game.

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It’s techniques like correct risk reward ratios and money management which will help prevent you from feeling like this. As a newbie trader you often fear loosing money because you’re either not sure what you’re doing or you’re risking more than you can afford (which we determine in the risk management chapter).

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As soon as you accept that losses are part of this game and that there’s no one out to get you and that you have to work with the market, not against it, then there’s nothing to fear at all.

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Fear of missing out on trades is also another part of this emotion but is easily corrected when you think that the market is a never ending stream of opportunities. So if you miss one trade, don't worry there is always another one around the corner.