Are you one of those people who have already heard about crypto and how people earn with its help, but you are afraid to try it yourself? If yes, then be sure to read this article — we will try to dispel all the myths and fears.
Why are beginners afraid of trading?
If you decide to start trading, you will be attacked by a whole host of fears. Some of them are programmed by our subconscious, and some of them are the result of excessive attention to other people’s opinions. You are not alone in similar thoughts. Let’s see how to overcome them and start trading at last.
1. Fear of loss
Psychologists say that the emotion of a person who has lost, for example, $100 is ten times higher than the joy of receiving it for nothing.
Hence the main fear of a beginning trader — he worries that he will not earn anything, but is guaranteed to lose what he already has.
This social attitude is fundamentally wrong and comes from the wrong upbringing in the conditions of restrictions. And it is very important to get rid of it for a person who wants to develop and get rich.
So, the essence of any trading relationship is the transfer of some resources for profit. And here there is always a risk. But if you do not act and are not ready to suffer losses, you will never see high profits.
How to overcome this fear? Think forward. You have to see losses as part of a system that eventually gives you profits. A beginning trader needs to find a conservative low-risk strategy and clearly follow the trading system, insured by limit orders.
2. Fear of complexity
Maybe you think that trading is very complicated and your brain cannot cope with new material? Or maybe you don’t like to learn and think that this is what you have to do? You are not alone. Many beginners are intimidated by even the terms Stop-Loss and Take-Profit.
The good news is that it is not so much math that is important for successful trading as emotional harmony. That is the right psychological attitude. And terms and strategies are an acquired thing. Once you couldn’t even read.
The Chinese correctly say that any path begins with the first step.
3. Fear of expectation
This fear prevents traders from maintaining a profitable trade until the moment when the profit will actually be tangible. The fear of waiting is closely related to the fear of loss. It can be described by the saying: “It’s better to have a bird in the hand than two in the bush”. The problem is that exiting a profitable trade early leads to a drop in profit. This means that there is a risk of not covering losses, if any.
How to become bolder? Once again, enlist the help of foresight. Think of your work on the stock exchange as a holistic system, follow your chosen strategy and control your emotions.
Conclusion
As you can see, all these fears are inspired and have nothing to do with reality. If you have decided to change your life and want to make money from trading, just take the first step. It will be easier from there.
Start with Movo’s trading app, which is designed specifically for beginners. Just download it — make a minimum deposit — and trade the asset you choose. It couldn’t be easier!
Read more about how to trade in the Movo app here.
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