Weekly Lessons

One Type of Fear

 
Traders often ask how to overcome fear sa trading especially sa losses. The weirdest answer would be something like this:
 
You only overcome fear in trading by losing your money, your mind, your sanity, your hope, your happiness, and your soul. You have to lose or come close to losing your marriage, your home, your family, and maybe your own life.
You have to experience gut-wrenching shame. You have to experience feelings of hopelessness. You have to wake up in a panic. You have to struggle to sleep.
When you lose all of those things, or some of those things or close to some of those things, you finally get to a point where a trade isn’t scary anymore. You learn about your fear through failure. I know very few traders who are independent and private traders like me and all of them have experienced the same things I have.
 
When you survive the horrors, fears, and terrors of trading you then become profitable. And you are not happy about it. You are just happy you survived.
And you also know you found something as a career that you love.
Now let me be real sa inyo at instead ng general idea eh e address ko yung isa sa fear nyo. PSE na market. Sample you buy a stock at 0.5 pesos.
 
Ok analysis mo. Ok set up. After three days ang price nya is 0.48 na. Good padin sa set up m di pa nttrigger cutloss. After a week nasa 0.46 na. Good pa din naman set up mo pero something in u di at ease to have an ave of 0.5 wayl ang price eh 0.46. What do u do? You cut ur losses and buy back sa 0.46. So medyu ok kna ksi same price na sa ave mo. After two days bumagsak sa 0.44. Napapaisip ka na naman mgcut at buyback. Ano mali dito?Well ur trading with emotion. E lilimit mo ba emotion m or e eliminate? Parang di naman possible yun. Best thing to do is to look at the chart and visit m lg acct m pag bibili or bebenta kna based sa chart OR what most of traders na kilala ko…what they do is they use FB messenger. Send lang sila stock code sa Pse quotes, pse alert me, etc. at rereply sa kanila yung stock price. That way mpprevent m maging emotional seeing ur losses in pesos. Real life tip ang kaya ko bigay sa inyo. Try lang. It might help.

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