In this my last installment on Fear I will cover the final action block to success as a Trader. You should remember I said the first block was over-analysis which led to self-doubt which in turn leads onto:

Hesitation at the very moment when you need to pounce!

How many times has this happened to you? How many times have you sat there over-analysing a perfectly good set-up whilst listening to your inner voice creating self-doubt in your mind only for you to hesitate on pulling the trigger at the very crucial moment when all of your energy should be focused on following your plan?

So you hesitate and sit on your hands only then to find that the trade goes the way that you originally thought and you watch all those juicy profits that were there for your taking!

And then you feel angry; angry at yourself, angry at the markets, angry at the whole world for your missed opportunity. Your judgment clouded with anger says ” Ha, I’m gonna get my own back on the market by jumping straight on the next opportunity” And you do.

Only to find this trade goes straight against you and directly to your stops. “Oh woe is me!” you claim not realising you are in the process of revenge trading (another subject for another time).

If you have any sense of judgment left you realise you are in a bad place and just close up shop and go and do something else for the day. Or you spiral further down and end up chasing your tail in a fit of revenge only to see your losses pile up.

Some of you may laugh and say “well that would never happen to me” but you’d be surprised how many newbie traders get caught in such a predicament. I’ve seen and heard of many traders go from healthy accounts to bust in a day because of fear and revenge.

So how do you overcome such obstacles?

Well that is where we here at FXInstructor can help and support you during such learning cycles. We offer excellent courses that provide the education you need to succeed. We also offer the support of ongoing Performance Coaching that will help you achieve your goals and overcome your obstacles.