Positive Mindset Helps to Profit in Trading. Greed can ruin a trading career. From my experience, when I came to new trading, I wanted to earn a lot of money, so I would face losses by over-trading. Here I have indulged my greed and made a lot of losses. So there is no need to be greed. Greed destroys people. And if you want to trade, you must give up greed. To be greedy in trading means to bring your danger. So to give up greed by keeping a positive mindset.
Greed is something, which if creeps in your trades, can make you bear huge losses and empty your account in no time. One should be careful in handling emotions and trading out of practicality and logic.
I fully agree that greed is one of the main fundamental problems for a trader. It is very important to learn how to control and discipline yourself. If you do not control your emotions, it will lead to stupid losses. To avoid this, you need to build the right trading strategy and properly manage risks.
100% TRUE, too much desire to obtain more money from trading is a poison. This makes you to over trade by choosing impractical trading strategies and may lose a huge amount. Avoid gambling, the forex trading doesn’t work like that.
It’s absolutely true that greed acts as a poison not only in trading but in other aspects of life too. Forex trading is not a get-rich-quick scheme. You can’t double your money overnight. It requires lots of knowledge, hard work and patience.
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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Past performance is not indicative of future results.