What a great statement!
I just heard someone use it in the context of personal and financial success and it struck me as a brilliant summary of an issue we raise in the SMG Tutorials.
Fear is a huge issue with a lot of traders. And interestingly, not just fear of failure but also fear of success.
I think there are two keys to taming fear [you can never eliminate it so don't even try!].
The first and most critical is the one noted above ? action. Action can tame fear in an instant. But it needs to be the right sort of action.
If you have a fear of heights, going bungee jumping may not be the best way to address it! But standing on a high bridge is a good first step.
In the same way, if you have a fear of losing your trading account, trying to face it down by putting it all on the line in one trade is not the best sort of action.
But taking considered, appropriate action [like the strict use of stop losses] is a way of taming fear. And getting past the paralysis stage that fear can create.
The second key is focus. By this I mean keeping in the moment and concentrating on the immediate action that is required to move you forward.
If your focus is too broad you can become overwhelmed by the possibilities. Or you might start to worry about things that are beyond your control or simply don't matter ? like what
But when you narrow your focus and remain "in the moment" in regard your trading, fear will be sidelined. The simple reason for this is that you can't concentrate on two things at once!
And again, this will help overcome the paralysis that can be created by fear.
So if you suffer from fear in your trading - action and focus are the key!
David Chandler
Ordinary People Making Extraordinary Profits!
For a free mini-course on stock and options trading click the following link:
http://www.stockmarketgenie.com
Or visit our blog at:
http://www.stockmarketgenie.com
The above comments are offered for educational purposes only. We are not providing you with financial advice. We are simply sharing with you what has and hasn't worked for us personally. If you wish to trade or invest in the stock market you should obtain advice from a registered licensed advisor.
weekly home cleaning Wilmette ...Most stock market traders have a favorite technical indicator.The one... Read More
The ABC's of Stock Trading SuccessStock trading success...why is it... Read More
The Bollinger Band theory is designed to depict the volatility... Read More
What does it take to be a stock trader? It... Read More
You have decided to buy some stock or mutual funds,... Read More
We learnt the following the hard way! If any of... Read More
Using Swing Trading Strategies and Technical Analysis when Trading Stocks... Read More
Quick, look out the window. It's raining. No, the sun's... Read More
A few years back ? it seems like an eternity... Read More
The stock market often closes a week in the middle... Read More
There are so many kinds of work that needs to... Read More
You may have wondered why your mutual funds have been... Read More
Sometimes the best way of lowering exposure to risk is... Read More
We all know the expression, "My country, right or wrong",... Read More
Checked your 401K lately? Going back to about a year... Read More
After the publication of the first part of this two... Read More
This is a rather simple strategy with which I am... Read More
The gleam and bright lights of Wall Street lure in... Read More
Recently I watched my favorite football team lose a vital... Read More
For the year 2000 we have seen hundreds of mutual... Read More
You should ignore analysts on TV, the radio, the newspaper... Read More
I am hearing predictions by brokers, financial planners, talk show... Read More
As an investor you will want to check out any... Read More
During the day I watch CNBC-TV, the stock market channel.... Read More
Look back over the years and try to remember how... Read More
green cleaning service Wilmette ...Where is the beef? Or maybe it should be where... Read More
The Law of Chaos is the theory of random unpredictable... Read More
Hedge current portfolio positions and gain access to capital resources... Read More
Most stock market traders have a favorite technical indicator.The one... Read More
People are always asking me when should I sell my... Read More
I constantly hear the talking heads on CNBC-TV, the radio... Read More
Mutual funds were created with the idea that one person... Read More
Never lose money in the stock market again. Yeah, I... Read More
There are formulas for just about everything, but it has... Read More
Yesterday I received my monthly issue of MONEY magazine. This... Read More
It is wonderful to be alive in the information age.... Read More
Every publicly traded company is required by the SEC(Securities and... Read More
Fundamental analysis.Fundamentals analysis says the best way to predict the... Read More
I often play a little game with myself when I... Read More
Spread trading is a technique that can be used to... Read More
If you don't know what a Roth IRA is then... Read More
Every day on CNBC-TV they show a 200-day moving average... Read More
Last time we looked at the real performance of the... Read More
Before you embark upon a journey of trading stocks or... Read More
Now where have I heard that before? I know. It... Read More
Before they go over the cliff to their destruction these... Read More
Because you don't feel too sure about which stock or... Read More
Everyone who invests in the stock market wants to be... Read More
If you have not back tested your trading system, you... Read More
The big bad bear is stirring again. So far he... Read More
Stocks & Mutual Fund |