The Four Fears of Trading
When beginning this blog, I think it is important to highlight one of the classic ideas from Price Headley concerning “The Four Fears of Trading”
1. Fear of Loss
2. Fear of Missing Out
3. Fear of Letting a Profit Turn into a Loss
4. Fear of Being Wrong (not being right/perfectionism)
Links come from Price Headley, supported at TigerShark Trading.com
“Conquer the Four Fears of Trading (to Achieve Consistency)” – A Must Read for beginners
“Fear of Missing Out”
“ Handling Fear and Greed in Your Trading”
“Pulling the Trigger Consistently in your Trading”
“ Pulling the Trigger on Your Trades” (Price offers more advice to those who are hesitant)
“ Are You In Control When You Trade?” (You can be mentally in control while you cannot control the market outcome)
“ Seven Insights for Disciplined Trading” (From Mark Douglas’ Trading in the Zone)
“Building Your Trading Confidence”
“ The Perils of Perfectionism in Trading” (Perfectionism related to “Fear of Being Wrong” and can be deadly)
“Tune In to Trading Excellence”
“Learn from Champions to Improve Your Trading”
“Your Plan for Improving Your Trading”
“A Lesson in Contrarianism”
“Which Stock Market Theory Works?” (Dow Theory, Elliot Wave, and Fibonacci)
“Learn to Avoid Traps that Lead to Trading Losses”
“ Using Stops and Limits to Improve Your Trading Profits”
“ Advantages and Disadvantages of Different Trading Systems”
“ Two Heads are Richer Than One” (Discusses the Advantage of “Trading Buddies”)
“ Always Use Stops When You Trade”
“ Planning Your Trades”
“ Assembling Your Trading Arsenal”
“ The Process Gets You Paid in Trading”
“ Setting Up Your Trading Workspace”
“ Beliefs of Winning Traders” (Six traits and beliefs)
“ Freudian Trading Techniques” (Four strategies to overcome ego in your trading)
“ Mental Toughness for Traders” (Becoming a great trader requires mental toughness)
“ Checklist for Success in Trading” (Six items to assess)
“ Going from Good to Great in Your Trading” (Cultivating work ethic)
“ Focusing on One Trading Goal at a Time”
“ How to Set Goals for Your Trading”
“ Key Trading Skills You Need for Success” (Six key skills from Price)
“ Four Stages Of Awareness in Trading” (Excellent post to help you know where you are in development)
“ Preserve Your Mental Capital for Trading”
BONUS: “The Fear of Missing Out” personal blog post of Kevin at Kevin’s Market Blog.
Personal story and pertinent advice including, “What works for me is to simply follow a trading methodology and have the discipline to stay with it” and “Another way to avoid the fear of missing out is to condition your mind into believing that it is more painful to lose money than it is to miss out on a trade that is not part of your game plan.”
Most excellent Corey, I am glad to have found this list. Thanks! So many think they need another book,another method, we just need to apply what we already have!
You’re right! We can never be certain, and we can only learn by doing (action). Taking the trade, embracing the risk, and learning what went wrong. Also, we need to study what went right, not just be happy and move on. Action over inaction! Thanks, Jack!
Excellent resource and would be very helpful since many things are researched and pulled together at once place.
Yes, fear is an in-built factor that drives many of the market actions and inaction’s. Out of the four, I can mark the last one in ‘Fear of Being Wrong’ in quote and unquote.
Lisa
Hedge Fund Compensation
I think sometimes fear are good to keep us stick to the basis while sometimes it’s a road block in our success so we should always look good method and plan and then leave rest of the stuff according to how it happens. I mostly love trading without tension and thankfully my broker OctaFX give me license to do that as they have clear policy of allowing all methods including hedging, news trading or scalping so I can work with relax mind.