The most dangerous emotion in trading is the fear of losing money to. Most traders hold this type of feelings while trading. But You have to be emotionless while trading. No emotional attachment is allowed in trading.
It is indeed important to learn how to control your emotions. I don't believe it's possible to reach a state of complete emotionlessness but we can definitely practice and choose not to listen to our feelings.
Yes agree with you. Fear and greed are very dangerous in trading. Interestingly wheb it comes to forex trading, people become too much irrational. They want to make their account double, triple overnight.
It often happens that your fears can attract what you are afraid of. And for any trader, this is the fear of losing profit or, even worse, his account. You need to learn to control your emotions, and be in the mood for success.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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