Trading – Does FEAR Prevent You from Being Profitable?

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#503: Trading – Does FEAR Prevent You from Being Profitable?

In this video:

00:32 – I’m not sure if I can trade

01:05 – Fear is not real

02:03 – Government control

02:37 – My personal experiences and fears

04:33 – Everyone starts trading at the same place

05:37 – Just do it

06:06 – Check out my new Masterclass

Trading. Can I do this? Or is my fear taking over and preventing me from wanting to even start? Let's talk about that and more right now.

Hey, the traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 503.

Just wanted to come outside. Another beautiful day here to make this video because.

I’m not sure if I can trade

I get a few emails from people saying, look, I'm not sure if I can really do this or can I talk to someone because I want to see if I'm right for this.

And the issue there is that people just get, I suppose, caught up in fear or the fear of not making it work, the fear of even getting started, the fear of is this too difficult? Is it something I'm going to understand? Am I clever enough for this? Whatever the fears might be, I'm not very good at numbers, you know, all those type of things. And I get that.

Fear is not real

But also I suppose from a mindset point of view, fear is something that's just not really there, is it? Something that we all as individuals have this issue with because just think of, for example, the fear of flying. It's not really anything physical. It's just our heads telling us, you know, when people have that fear.

And as a pilot myself, I find that really strange. Although I understand it, I find it really strange when I take people for a flying helicopter. People go, I'm terrified of flying. It's like, Well, don't you think that I want to do this and get home and do it properly and safely as well, You know? And so it's a very strange sort of fear there.

And when you think about commercial planes, etc., is probably the safest form of transport there is. Yet so many people have a fear that yet they're quite happy to sit in a car and go on the road where there's accidents all over the place, you know. So it's just that mental side of things that people have an issue with.

Government control

Fear is all, you know, it's all right. And it's just look at the way that the governments around the world for the last three years of have reacted and acted. It's all about control and fear that's made people, you know, sort of scared. Trading is no different. You know, it's all about understanding emotions and controlling emotions.

So can you do this? Is it too hard? I want to talk to someone first. I'm not sure all those fearful things are just you having a new experience or scared of a new experience.

My personal experiences and fears

And from a personal point of view, I get that. You know, the man, when I was making this video, I was putting together some notes and I was thinking, well, from a personal point of view, I left the other side of the world.

I left a family farm that had been in the farm for generations, 25 years ago, came to New Zealand, flew to the other side of the world. I mean, what a fearful experience that was. I can tell you I didn't know anybody here. I met my boss once for an afternoon about eight months prior. I didn't know a single other person here, you know, back in the days before Internet as well, and cell phones.

So, you know, that was pretty fearful, leaving my only job that I'd ever had and paid employment for a couple of years, few years, and then going to take on huge debt to go and buy my own farm that was fearful when I sold the farm. And what was I going to do next that was fearful, getting into trading?

Well, going round in circles for four years, you know,