you need to overcome your fear of losing money

[deisik]

To my mind fear of losing is normal in this situation because without fare we won't care but of course when you are trading it's neccessery to psychologically analyze that every step has it's risk of loosing, so when you fear of lost, than you are trying your maximum to win. "If you treat losing as part of trading then you are an experienced trader." this is great proposal which I can't deny dispite my opinion.

It's true, the fear is a defensive mechanism we have inside ourselves that make us stay away from risk actions and activities, better to fear and don't lose money than don't fear and lose money. The balance is what everyone must reach.
If we reach to the balance there is no bad times in our life, you will have total control over your mind, financially and emotionally. I don't agree that lose fear is always a good thing.

Easy to say, but for a lot people it's difficult to have total control when money is involved. What helps is that people should only make use of money for investment purposes if they know they don't rely on it. It's a sad reality that there are people that put their savings at risk where they use it to invest in Bitcoin. These are mostly the people that end up selling in panic to prevent further losses at the time there is a dump happening. It's a very expensive lesson for them

The sad truth is that it is not going to be any lesson for the majority of people. If they just lose and then call it a day, it will be only that, i.e. money lost and no lesson given. And this is not really a bad outcome since if they persist and allegedly learn something (as they come to think), they will most likely lose even more until they decide to call it a day all over again

Only a tiny percentage of people can actually learn something

[Victorycoin]

To my mind fear of losing is normal in this situation because without fare we won't care but of course when you are trading it's neccessery to psychologically analyze that every step has it's risk of loosing, so when you fear of lost, than you are trying your maximum to win. "If you treat losing as part of trading then you are an experienced trader." this is great proposal which I can't deny dispite my opinion.

It's true, the fear is a defensive mechanism we have inside ourselves that make us stay away from risk actions and activities, better to fear and don't lose money than don't fear and lose money. The balance is what everyone must reach.
If we reach to the balance there is no bad times in our life, you will have total control over your mind, financially and emotionally. I don't agree that lose fear is always a good thing.

Easy to say, but for a lot people it's difficult to have total control when money is involved. What helps is that people should only make use of money for investment purposes if they know they don't rely on it. It's a sad reality that there are people that put their savings at risk where they use it to invest in Bitcoin. These are mostly the people that end up selling in panic to prevent further losses at the time there is a dump happening. It's a very expensive lesson for them.

I quite agree with your take that panic selling is mostly as a result of no strategy or a good enough one and also no risk management plans. Just like the saying goes,"Courage is not the absence of fear" Meaning that effective planning is what brings on the ability to handle risks, losses as stepping stones on the way to success. Perfecting in it doesn't come for the asking though, but it does come practice and dedication.

[romero121]

With bitcoin nothing is assured or predictable. So every user has a small fear of losing money due to the price varying often. Personally I never thought of the varying price and fear for it. I fear of losing money while gambling, because I have felt myself unlucky due to the losses taking place often.

[Zadicar]

With bitcoin nothing is assured or predictable. So every user has a small fear of losing money due to the price varying often. Personally I never thought of the varying price and fear for it. I fear of losing money while gambling, because I have felt myself unlucky due to the losses taking place often.

Its either on both ways we do really fear on losing out our money its either on gambling or bitcoin price movement.We do really fear on that thing to happen since we all know that we are always striving to earn money and losing it would really be painful but in trading we should really need to overcome that because this would really be a big factor that you wont succeed specially on trading career.

[raven7886]

In investing, whether you like or not, you can lose or you can earn money. Just like your fear, we must all face our fear, we must fight it. We all know that  fear sometimes lead us to lose some of the chances. Like in trading, sometime, we must gamble our money to earn.

Sorry, I dissagree with you. I think the right trader is not do their job such as gambling. Lose money in trading is normal we have to know when we have to stop lose. Trading could be the best source of bitcoin but it still have risk.

While I agree that we should consider losses as a learning event but I agree somewhat with op because see if we worry about losses then sometimes we can make rush decisions like when I was new in bitcoins and I bought some bitcoins then the price went a little down and I got terrified and sold all while had I just waited a little and never thought about loss I would have been quite rich right now.

[sotoshihero]

With bitcoin nothing is assured or predictable. So every user has a small fear of losing money due to the price varying often. Personally I never thought of the varying price and fear for it. I fear of losing money while gambling, because I have felt myself unlucky due to the losses taking place often.

Gambling is really thrilling also and I do not gamble. I mean in online games. I try dice game but I always losses my BTC.

Re: you need to overcome your fear of losing money

I think it means that we should only invest or trade the money that we can afford to lose. Sometimes we should overcome our FEAR in order to become aware of our actions and not overtaken by our emotions in dealing like  trading.

[Silberman]

True. Unfortunately loss aversion is a fundamental part of our psychology. That's why people who are willing to take risks are rewarded. Everything from starting a business to gambling to trading involves risk. Being emotional when getting into these is a surefire way to lose money. Fear of losing money will make you lose money.

This is an outright oversimplification of matters

As if no fear of losing money would somehow prevent you from losing money. While it doesn't prevent you from losses at all, it could in fact heavily exaggerate them. Really, if you don't have any such fear altogether, what would stop you from losing all? Your fear is essentially caused by the lack of genuine knowledge, and it is the true knowledge of real situation that prevents you from losses. Lack of fear is just an effect that such knowledge gives, while unfounded fearlessness (e.g. due to arrogance or overconfidence, what I generally call "know it better" approach) can be fatal in trading and pretty fast at that

I'm talking about those who sell out of fear when they see price fall in hopes of at least getting some of their money back. IMHO you shouldn't be risking money you can't afford to lose in the first place

Stop-orders are used exactly for that

It is basically the same fear out of which traders are placing these orders. If they didn't have this fear (i.e. they were sure that the price wouldn't go any lower), they wouldn't be placing them. This is the lesser of two evils, losing small or losing big. In this way, if you just happen not to feel any fear at all (for whatever reason) and remain emotionless (no matter what), that will eventually lead you to greater losses

In any of the financial markets, there are a million and one factors that influences price, thus making it impossible for anyone to hold the answer to where or what the market is up to the next minute. I think those people that claims to see the future, should have been wealthy now if they really do.

Correct, there are many factor that determine the price of something, however with the right analytical tools you can get a good idea of where the market is going to go a significant amount of time.

[upsidedown75]

there are many factor that determine the price of something, however with the right analytical tools you can get a good idea of where the market is going to go a significant amount of time.

That is the reason we are using many technical analysis to predict the price movements. If such tools are not available then trading will not be viable as no one will be covering all the price determining factors.

When you just over looking these factors, you might get fear like who you are going to tackle all these thing but once you find right approach then there will be no fear of losing as many traders are already doing.

[JL421]

I totally agree with your thinking.
At the beginning I used to worry a lot.
Also people used to tell that you learn from your mistakes
But I used to ignore them , I used to think that they are just telling for the sake of telling.
But later on after my own experiences I realised they were right.
If you are confident enough you will have profits more and less losses.
Like risking is not always a bad option. Once you have a firm grip in such things you have get scammed once in 100 risks that you take.
So I would suggest just go for it

Ok I agree that if we don't take any risk in life or any loses then we will never learn anything.
But I don't think this statement applies to trading for sure because for trading we need skills and even if we lose we won't figure much and unless we understand everything it will be too late.
You can apply this to gambling but not to trading.

[rizkyhiw]

there are many factor that determine the price of something, however with the right analytical tools you can get a good idea of where the market is going to go a significant amount of time.

That is the reason we are using many technical analysis to predict the price movements. If such tools are not available then trading will not be viable as no one will be covering all the price determining factors.

When you just over looking these factors, you might get fear like who you are going to tackle all these thing but once you find right approach then there will be no fear of losing as many traders are already doing.

I think losing money is part of the risk and fear about it normal
But when you trade with the "nothing to lose" style , it seems gives your additional confidence
Have you experienced something like that before?
I did several times, and the result really unexpected, got huge profit as i trade almost blindly not seeing on how much i could lost.

[BlueStackz]

When you just over looking these factors, you might get fear like who you are going to tackle all these thing but once you find right approach then there will be no fear of losing as many traders are already doing.

I was also getting fear of losses in my beginning days of trading. But once I found myself able to trade and to make some profits, I did get confident and then now a days I am not getting fear about any result of my trading. In my opinion, experience is more important to over come fear of losses.

[Natalim]

When you just over looking these factors, you might get fear like who you are going to tackle all these thing but once you find right approach then there will be no fear of losing as many traders are already doing.

I was also getting fear of losses in my beginning days of trading. But once I found myself able to trade and to make some profits, I did get confident and then now a days I am not getting fear about any result of my trading. In my opinion, experience is more important to over come fear of losses.

If you fear of losing, you are not being realistic. That is normal in trading, we make profit or we lose based on the outcome of our prediction, however, it is necessary that we learn from our mistakes, it is the way to last in our trading venture and would earn consistent profit.

This is one of the most legitimate way of making money, therefore it is good to learn how to be a professional trader. Once we do it, we do not have to work with longer hours just to earn money, in trading, we can manage our time.

[BlueStackz]

With bitcoin nothing is assured or predictable. So every user has a small fear of losing money due to the price varying often. Personally I never thought of the varying price and fear for it. I fear of losing money while gambling, because I have felt myself unlucky due to the losses taking place often.

Gambling is really thrilling also and I do not gamble. I mean in online games. I try dice game but I always losses my BTC.

Re: you need to overcome your fear of losing money

I think it means that we should only invest or trade the money that we can afford to lose. Sometimes we should overcome our FEAR in order to become aware of our actions and not overtaken by our emotions in dealing like  trading.

you you better do not play gambling. only playing gambling just because it is very thrilling than you must be stupid. there is a lot more things for thriller...
and taking care for you money should not be called as fear..

[nara1892]

my trader friends keep saying that no risk no fun for trading. and some of them experienced losing money because of trading. but in the other side, they also get high profit. high capital for high profit, but ready to lose too.

[virasisog]

Fear of losing your money is like you dont want to try at all , The truth about losing or trying your best and still you lose is in return what you will gain is lessons ,skills and knowledge it will depends on how will you apply and adjust yourself about your mistakes before. If you overcome your fear there's more things that you've unexpectedly know about how it happens and you do it by yourself.

[btcdiggingmaster]

We all know that failure is the pillar of success. So if we loss money, we should not be afraid of doing it further. We can overcome the fear by practicing and gathering more and more knowledge.

For every beginer it is normal to loose in trading, without loosing you can't acquire knowledge about trading. First of all you need to understand trading is some what risky when compared to gambling, so it's better learn how to become successful by finding which one gives good income to you.

[Wintersoldier]

We all know that failure is the pillar of success. So if we loss money, we should not be afraid of doing it further. We can overcome the fear by practicing and gathering more and more knowledge.

For every beginer it is normal to loose in trading, without loosing you can't acquire knowledge about trading. First of all you need to understand trading is some what risky when compared to gambling, so it's better learn how to become successful by finding which one gives good income to you.

Exactly. There is no such problem in trying something, this is how I learn many things in trading. Being fearless in trading makes you tougher, and smarter. Although you can acquire knowledge without burning money, you will still lose because no traders always win in trading. It is a matter of strategies and patience on how we will make our mistake into right.

[Silberman]

there are many factor that determine the price of something, however with the right analytical tools you can get a good idea of where the market is going to go a significant amount of time.

That is the reason we are using many technical analysis to predict the price movements. If such tools are not available then trading will not be viable as no one will be covering all the price determining factors.

When you just over looking these factors, you might get fear like who you are going to tackle all these thing but once you find right approach then there will be no fear of losing as many traders are already doing.

I think losing money is part of the risk and fear about it normal
But when you trade with the "nothing to lose" style , it seems gives your additional confidence
Have you experienced something like that before?
I did several times, and the result really unexpected, got huge profit as i trade almost blindly not seeing on how much i could lost.

When we trade even if we want to win we must think that the money we are using for trading will be lost, so by thinking that way you will always have the nothing to lose mentality because for you that money is already lost.

[Botnake]

there are many factor that determine the price of something, however with the right analytical tools you can get a good idea of where the market is going to go a significant amount of time.

That is the reason we are using many technical analysis to predict the price movements. If such tools are not available then trading will not be viable as no one will be covering all the price determining factors.

When you just over looking these factors, you might get fear like who you are going to tackle all these thing but once you find right approach then there will be no fear of losing as many traders are already doing.

I think losing money is part of the risk and fear about it normal
But when you trade with the "nothing to lose" style , it seems gives your additional confidence
Have you experienced something like that before?
I did several times, and the result really unexpected, got huge profit as i trade almost blindly not seeing on how much i could lost.

When we trade even if we want to win we must think that the money we are using for trading will be lost, so by thinking that way you will always have the nothing to lose mentality because for you that money is already lost.

Not good, trading is not gambling where we need to spend just to be entertain. It's the complete opposite of gambling, trading is boring therefore it is just right to reward yourself with profit so you can have something to cash out and enjoy your profit. Do not treat it as a game but rather treat it as a job or investment that yo need to focus in order to gain long term success.

[grandy]

With bitcoin nothing is assured or predictable. So every user has a small fear of losing money due to the price varying often. Personally I never thought of the varying price and fear for it. I fear of losing money while gambling, because I have felt myself unlucky due to the losses taking place often.

in fact in every king of trading and investment we have the same situation. but i think we can overcome the fear after getting good experience in trading. knowledge and skill is also important factor of overcoming fear in bitcoin.