I agree that he will eventually need to do some more mindset work to make real progress but the guy hasn't even taken a trade - just need to ease him back into the game first.
It helps if you can try to keep trading in demo account so that you can try your best to get over the fear. Also, you can try start trading with small number and gradually increase in hoping to shake off those fears. All the best, don't let it get the best of you!
My problem with pulling the trigger is that I have no confidence in my strategy. I believe this is the key to trading. When I was learning a new skill, like riding a bike, I was reluctant, at first, to go riding without my parents there to help me. After I gained the skills I was eager to set out on my own. You HAVE to be confident that the signals your strategy create will, in the long run, create profits for you. This is why I am reading books about quant. I may never automate my trading, but the books I am reading show me how to backtest and walkforward test and measure the results in a meaningful way to give me confidence that my strategy will work. Then, constantly monitor the health of the system to determine if changes in the market require changes in my strategy. I have decided that this is only way I will ever be confident to pull the trigger.
Start with back testing and simulated trading. After you show consistent profitability in back testing and simulated trading, trade with real money. Start small as suggested by previous posters.
Well defined reliable set-up conditions Strict entry rules Small % capital risk Stop-loss (trailing stop using ATR eliminates indecision over take-profit levels)
There is only one reason why that happens. You don't believe in your strategy. Most people don't have an edge or a complete strategy. Just vague and incomplete idea on what they think works. And yet they trade. It just so happens that you subconsciously recognized the dangers of this and it prevents you from pulling a trigger, rightfully so. Lack of clearly defined strategy and an edge is the real problem to solve. Trading is about shifting your thinking from a trade outcome to a probability based approach. Getting into systematic trading is a sure way to cure this. Val
dont feel badly, ive left millions on the table by not trading when I should be. literally. see, im hear on the room instead of trading. blind leading the blind . try focusing on only a few or even 1 stonk . get to know it .