1. Face your fear. Acknowledge it, face it head-on and use it as an opportunity
to learn and progress.
2. Acceptance of responsibility. You must accept that you alone are responsible
for your fear...this will put you in control of your fear.
3. Reality Check: As a trader, if your greatest fear came true, what is the worst
that could happen? Your honest answer can help you examine and deplete the
energy of your fear.
4. Identify the thought choice. Choose a different thought choice other than that
you are afraid of losing money. Choose the thought choice, " I know that not
every trade will be profitable, and that's ok".
5. Acceptance of risk. When the trader has complete acceptance of the risk and
all possible results, then he can be optimistic, committed and realistic about the
next trade and the outcome.
6. Eliminate self-sabotage. Don't link your self-worth to your trading
performance. You are not how you trade! Don’t let losses erode your self-worth
or self-confidence.
7. Have a solid trading plan and adhere to it. This allows a trader to trade
without fear, knowing he is prepared for any potential event.
8. Have a love and passion for trading. You need a motivation far beyond
money. If you only trade for the money, you would be best to find another career
and avoid risking both your emotional and financial well-being.
9. Pay close attention to your trading environment. Does it suit you? Is it
comfortable? Is it noisy or quiet? Do you have privacy? Can you control
interruptions? Can you play music to enhance the feeling of having fun? Do you
have everything you need to trade successfully...a good Internet connection, a
good PC, a big enough account, a good trading system you are comfortable with,
etc.
10. Forget about yourself and your fears. If you completely focus only on what
needs to be done, you will neutralize your fears. They will never stop you.
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