This is kind of the opposite of the previous Fear of the Market, the fear of losing money in additional trades. There, a trader is afraid to enter once he has already lost money. Here, a trader is afraid to enter once he has already gained money.
In his mind, he assumes that once he has cashed out, he would be better off not testing his luck. Once he’s made the money, he doesn’t want to take a chance of losing it.
Emotionally, anyone can understand this train of thought. Logically, though, it makes very little sense. He’s not saying that he won’t ever trade again. He’s just saying that he won’t trade right away, perhaps for the remainder of that day. However, when he trades the next day, what money is he using? That same money! So whether he loses the money today, tomorrow, or next year – it’s all the same.
Yet, to a trader, he feels that he is protecting himself, in a way, by not taking any additional entries too soon after a winning trade.
However, if there seems to be a good entry that fits the required criteria, then the right thing to do is to enter the trade. Just like by the previous fears, as long as you know that you are doing the right thing, there is no reason to be afraid. If you feel there is every reason that you can gain from a trade, then holding back is another way of allowing your fear to control your decisions.
Go ahead, trader, overcome your fear. Make the trade. And you will feel better about yourself. That’s how a disciplined trader acts. Don’t let your fears control you. You control your fears. Then, only once you are a disciplined trader, can you head toward success.
Not convinced yet? Log on to our website: www.trademarkacademy.com, or visit our newly renovated, state-of-the-art training facilities and learn more about how to begin trading with the professionals.
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