This article is taken from the YourTradingEdge magazine (MAR/APR 2010 issue)
The author, J. Rande Howell has more than 15 years of practice as a Licensed Professional Counselor with a Masters in Counseling. He has worked for many years as a personal development coach teaching individuals how to affect positive change, peak performance, personal growth, and leadership potential. He is the author of three books and maintains both a counselling and personal development practice in Charlotte, NC.
- J. Rande Howell on mastering fear for trading success. As long as you underestimate the power of fear over thinking, it will cause you to sabotage even your best-laid plans.
The impact of fear on trading
Poised to pull the trigger on the trade, Carl held his breath and hesitated. A current of uncertainty swept him away into second guessing his decisions. Thoughts began to fire rapidly in his head: “Should I really take this one? What if I’m wrong? What if I lose again?” Carl’s confidence was melting like snow in a desert and being replaced by his fear of losing – again. “Should I push through my fear or should I back off this trade?” he asked, trying to gather his wits. He gazed into his screen to no avail. He tried to summon all the psychological tricks he had learned. But all he could hear was the continuing battle in his mind. And this was not the first time. It was déjà-vu. Reaching for antacid to calm his stomach, Carl realised that he had found himself in this situation all too many times. He missed the trade.
Taking the first step to being successful in your inner ‘game’ of trading involves several factors.
