Beginners Greed

A lot of the greed is because people are brought in to forex thinking they will make lots of easy money.

Baazex posted:
orex trading is no doubt a lifestyle Changing business you have to be very patient and keep an eye on the market conditions greed is a human nature but usually new traders have greed because lack of experience

well said. a lot of people dont even take the time to master strategies on demo before diving in. never ends well.

It seems to me that greed is not so bad, especially when it comes to greed for knowledge. Although if you want a lot of money, it's also a normal desire. Another thing is that many people in the pursuit of financial achievements forget about the basic rules of trading and it leads to losses. No matter what happens, you should follow the rules in this business. And any risk you choose for yourself should be justified, otherwise you risk being in an unpleasant situation. Moreover, even the first loss can lead to the fact that a person is basically disappointed in this business and just does not want to continue. Therefore, you should avoid such mistakes and try to keep statistics, which will show what kind of profit you can count on and how to act to ensure a stable income, but without chasing the golden mountains.

sustain over desire, create a simple value understanding, when you grab a thing and it taste good, you want more. however, such common understanding play against into, what risk explain about. that absolute risk, create aversion. when you tear deep disappoint while you understand how to measuring risk about, you are stuck upheaval in the midst of losses. you has no appropriate trade portfolio even though you know how to measuring risk about.

Basically we the traders in particularly the newcomers try to make money very rapidly by using high leverage and practically fall a great loss due to non-sense planning and zero risk management policy, nothing to do with high leverage at all. So, before trading with high leverage we have to know how to manage risk.

I agree beginners use high leverage and then get caught up in losses and then blame luck. Leverage is like a double edge sword. One has to be very careful while using it. Risk management is very important. One who has understood it won’t be disappointed in fx trading.

If you are going to use high leverage focus on small moves otherwise you can get whipped
Small Leverage for big moves won't kill your account in a portfolio to balance it out over time.
Always be aware FX can test new lows.

It can test new lows but the price will always average our at the mean value (by definition)

Yes this is mostly true unless we have some new event which sets a new range, fx pairs have an upper and lower limit for the month mostly so banks can set rates.

Roberto21 posted:
most of the traders become addicted for bringing profit very rapidly , its a main problem , they should addicted to learn Forex that can make more profit from trading.

yes mastering the art of utilizing trading psychology int trading is not an easy task but absolutely vital nonetheless else losses will occur very easily. speaking from experience here.

for beginners success is a temporary issue , it can make everyone but who can make it consistently we can consider him as a professional guy.

Imamul posted:
for beginners success is a temporary issue , it can make everyone but who can make it consistently we can consider him as a professional guy.

It’s a natural issue & new traders need to focus on their learning process instead of money making! Otherwise, the result would be so costly!

I think that beginners greed is inevitable and many beginners perceive trading as a way to become a millionaire in just a few months. Of course that's no so and beginners should just overcome if they want keep on trading and by successful.

Mikagul posted:
I think that beginners greed is inevitable and many beginners perceive trading as a way to become a millionaire in just a few months. Of course that's no so and beginners should just overcome if they want keep on trading and by successful.

Really, unrealistic target is one of the most common issues here. Newbie’s mainly focus on earning instead of learning.

Most of the time beginners get greedy when they initially start getting profits in their trades. Daily profit earning makes a beginner to invest more which leads to more risk. Rather than investing a high amount of funds, a beginner must learn more about trading and how to make trading more profitable.

I like this resource

😄

Beallador posted:
It seems to me that greed is not so bad, especially when it comes to greed for knowledge. Although if you want a lot of money, it's also a normal desire. Another thing is that many people in the pursuit of financial achievements forget about the basic rules of trading and it leads to losses. No matter what happens, you should follow the rules in this business. And any risk you choose for yourself should be justified, otherwise you risk being in an unpleasant situation. Moreover, even the first loss can lead to the fact that a person is basically disappointed in this business and just does not want to continue. Therefore, you should avoid such mistakes and try to keep statistics, which will show what kind of profit you can count on and how to act to ensure a stable income, but without chasing the golden mountains.

I think so too

Roberto21 posted:
most of the traders become addicted for bringing profit very rapidly , its a main problem , they should addicted to learn Forex that can make more profit from trading.

Best thing to happen to a new trader is for him to lose his first 10 trades. This will force them to learn more, give up or use demo