Re: The Fear Factor and waiting in trading, advantages and disadvantages
I don't know yet if this topic has been discussed here and if it has I'm going to lock the thread.
So I believe many traders here go through this fear in their trading and I don't think it is wrong to have such feeling because you are a human with flesh and blood plus the involvement of your money hahahaha
. Yes you are permitted to fear.
I have noticed also that this fear can help you reduce lose sometimes when you fear to pull in your trade then you stay back and at the end the market would have gone against you. It means that the fear actually was to your advantage because you didn't enter an order.
The other times too, you can have the fear of not entering the market but at the end of that trade, you will realise that you would have made huge profit if you entered. This means the fear was a disadvantage to you.
I know fear and waiting can operate same time because as you have that fear not to enter you are at the same time waiting which can be both to your advantage or disadvantage.
We have the fear operating in both advantage or disadvantage to your trade.
So how has fear and waiting impacted negatively or positively to your trading experience?
I have this fear that you described but I try to think less about how much profit I would make if I entered into the market at certain times because if you think about that, it will stress you mentally. You don't want to feel mentally stressed because that will increase your chance of making wrong decisions. When I was a newbie in trading, I had a fear and I lost a lot by not making something but this led me to FOMO and then when I wasn't afraid, I lost lots of money by making stupid mistakes.So I believe many traders here go through this fear in their trading and I don't think it is wrong to have such feeling because you are a human with flesh and blood plus the involvement of your money hahahaha
. Yes you are permitted to fear.I have noticed also that this fear can help you reduce lose sometimes when you fear to pull in your trade then you stay back and at the end the market would have gone against you. It means that the fear actually was to your advantage because you didn't enter an order.
The other times too, you can have the fear of not entering the market but at the end of that trade, you will realise that you would have made huge profit if you entered. This means the fear was a disadvantage to you.
I know fear and waiting can operate same time because as you have that fear not to enter you are at the same time waiting which can be both to your advantage or disadvantage.
We have the fear operating in both advantage or disadvantage to your trade.
So how has fear and waiting impacted negatively or positively to your trading experience?
My advice is to forget about fear. Everything can happen but you have to be calm and careful and stick with coins like Bitcoin, Ethereum, BNB and similar ones. Don't rush because there is a high chance that everything will be fine. Those who bought Ripple in 2017, might have felt hopeless because Ripple's price went down but today, in 2024 year, check the price of Ripple. A few days ago, Ripple reached $2.6 again, so it's never too late, do not FOMO.