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Beginners Greed

ohmaria
Sep 14 at 11:02
10 Posts
CraigMcG2020 posted:
FXOday posted:
Greedy is like an enemy that appears from own minds, usually, traders want to make big profits in a short time by increasing lot size, or open multiple orders without pay attention to the risk involved, usually, the result of greed only will leading trader fall in regret, because often greedy making big loss in trading and if faced stop out account hence will losing opportunity to make new trades


So true. Like so many people have been up 10/20% and they want it all and they want it all yesterday instead of being happy. Thats why a small account is harder to trade because the gains are small like 50/100/200 when the trader wants 1/2/10k profit

This type of mentality that some traders have had will not be useful in future. You cannot expect to make $1k profit from $50, that is so unrealistic and unimaginable, unless by chance you got very lucky or market become easier to predict. That comes in very rarely.

Alexthetrader
Sep 14 at 11:48
45 Posts
Human beings are such kind of creatures, when they achieve a certain good, they automatically want even more. But it should be understood that the combination of trading and traders’ psychological mistakes entails a number of dangers that in one way or another negatively affect traders' trading account.

DarKenshill
Sep 25 at 16:06
4 Posts
Greed is very harmful for making decisions and trading. I believe that the only way to eliminate emotional factor is to make trading strategy as objective and accurate as it is possible. Like if you decompose your decision making process into simple and objective steps, you will hardly experience any emotions during trading. It is something like solving equations where you deal with the numbers which can be called facts. Trading strategy should look like solving quadratic equations where you know what to do next in order to come up with the right decision.

skihav
Sep 25 at 17:24
141 Posts
For a beginner, fear and insecurity are quite normal. It is quite possible to explain this, because beginners do not have enough experience to work.

RobertFerrari
Sep 29 at 20:44
118 Posts
skihav posted:
For a beginner, fear and insecurity are quite normal. It is quite possible to explain this, because beginners do not have enough experience to work.

Yes. Lack of experience can put a trader into a great danger.

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