Greed is the most dangerous emotion for trading. Most of the traders lose money just because of this greed. And there are s trader who is mistaken greed as hope. Greed is when you have no trading plan. You trade all day long. After a profitable trade, you open another trade in the hope of making money. But we should control our greed if we want to stay in the market and make profit for long.
Yes it's true. Greed is the most dangerous emotion. To get out from greed we need discipline. We need to make some rules . For example, a losing trade no more new trade today or daily target fullfiled no more trade for that day.
Greed is very dangerous for our trading plans and we can lose our money if we can not control our dreed then we can lose our money quickly and find very dufficult to make good income with Forex trading.
Yes, you are right greed is a very harmful emotion. It is never possible to make a profit by trading out of greed. When a new trader joins the Forex market, a lot of greed works in them which causes them to face losses. If a trader cannot give up emotion, he can never succeed in Forex trading.
Greed destroys the trading career. People join trading with many dreams but your dream will never be fulfilled if you cannot give up greed. To succeed in trading, you must first give up greed and fear.
Fear is really dangerous for a trader. It paralyzes some traders, preventing them from realizing their opportunities and potential. Others are pushed to make stupid decisions, because of which they lose or receive less profit. Moreover, it does not matter with what instrument a person practices trading - it is cryptocurrency, stocks, futures or currency - fear will create problems for the trader until he takes control of him.
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.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.