Many FX traders know the feeling of being right on the edge of success. Having learned all the skills of trading and found what other people say is a great system, it should be a simple matter to start making money in this risky business. But still something always seems to get in the way of success.

What is it that holds us back, and how can we get around this and start making money?

Most of the time the answer is in our own mind and it is fear that is holding us back. We do not want to admit it because it seems stupid to be afraid of making or losing a little bit of money, but it is there, and it is often the one and only thing that stands between FX traders and the profits that they could make … if only.

Fear of failing

Fear of failing is not really about losing a little money, but of feeling or appearing to be a failure in what we are doing, which is of course forex trading.

We can be under a lot of pressure on this, perhaps from a spouse who is not happy about having some of the family fortunes risked in what seems like a gamble, or from external circumstances like being unemployed or in a job that we hate.

In this situation it often helps to start in a very small way. Remind yourself that it is better to make 5 dollars this week than to risk losing 50, or whatever amounts are appropriate to your situation.

See every trade as a learning experience and do not have too much riding on one. In this way you will increase your confidence both in your system and in your ability to make money with it.

Fear of being successful

This one can sound weird. Why would be be afraid of success? But it is very common, especially in cultures where successful people are disliked, criticized or stabbed in the back.

Think how often everybody hates the boss at work. It must be pretty uncomfortable to be in that position, right?

Often, all of our childhood experience teaches us that the poor and mediocre are good, honest, well-liked people and the rich and successful are greedy, mean folks who never have any real friends.

Think how many movies for kids are based around that idea and it is not surprising that we grow up not wanting to be successful at some deep level.

When we carry this fear of success around in our psychological baggage, we will constantly be shooting ourselves in the foot or stopping on the edge of a major breakthrough.

We might be successful in a small way, then once we have proved we can do it, we either lose interest or mess up. If this sounds like a pattern in your life it is time to tackle fear of success.

Being aware of it is the first step to a solution here. Keep checking whether what you are about to do is a real effort or an ambush that will lead to avoiding success. Set small goals that are easy to achieve.

If you catch yourself dreaming about huge riches, stop it at once and remind yourself that you don’t need to get super rich, you just need to work slowly up to making a living. That way you can still have friends and be a good person, like plenty of successful FX traders that you can meet online or at seminars.

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