Greed is poison
Mitglied seit May 13, 2022
34 Posts
May 26, 2022 at 07:41
Greed is really one of the greatest poisons ever known to man, especially when it comes to trading. It is valid everywhere and not just in the world of trading. They lose it all if they don’t know how to leave greediness.
Mitglied seit Aug 05, 2021
401 Posts
Jun 15, 2022 at 14:35
I've definitely talked to many other traders that got destroyed by greed and know one one in real life. It's no good, just on the opposite side of the spectrum from anxiety based trading.
Mitglied seit Jul 19, 2022
24 Posts
Aug 04, 2022 at 09:38
Greed is surely harmful for traders and works like a slow poison. We don’t notice anything wrong until our account blows up. We just think more risk will give us more profits but forget about the losses and drawdown. Emotional control is surely the only antidote for this poison.
Mitglied seit Aug 17, 2022
60 Posts
Aug 19, 2022 at 04:26
Yes, greed acts as poison for traders. And excess of everything is bad.
Mitglied seit Aug 17, 2022
39 Posts
Aug 23, 2022 at 05:25
If your strategies go well with market conditions then it is a great opportunity to earn well but in greed never indulge in overtrading and above your pockets affordability because risk is always there in forex trading.
Mitglied seit Aug 02, 2022
24 Posts
Aug 25, 2022 at 09:41
When you let greed control your foreign exchange trading emotions, you end up losing all discipline and making poor decisions. It feels good to win! However, the high from a string of successes in forex trading can fuel an insatiable appetite for wealth, leading to reckless overspending. In reality, being careless is one of the side effects of being overly greedy, which gives you a false sense of control and it is harmful.
Sep 03, 2022 at 13:15
Certainly greed is bad for trading. I think it happens to all beginning traders. Unfortunately, it can lead to big losses. Something should be done about it.
Trader's success depends on trader's ability to stop in time.
I mean if a trader has earned any sum of money, he should stop, wait a certain period of time and then trade again. Of course it's better to do it the next day.
But there are often cases when a trader has earned money and wants more. He opens a deal, loses money... then he wants to get even and it goes on until he takes more losses.
Traders need to practice. To train their emotions.
Greed kills the deposit!
Trader's success depends on trader's ability to stop in time.
I mean if a trader has earned any sum of money, he should stop, wait a certain period of time and then trade again. Of course it's better to do it the next day.
But there are often cases when a trader has earned money and wants more. He opens a deal, loses money... then he wants to get even and it goes on until he takes more losses.
Traders need to practice. To train their emotions.
Greed kills the deposit!
Dec 09, 2022 at 09:43
Greed in forex trading can make you go broke because you will be overspending your capital or trade at the wrong time to make more profits. It is important to develop your mindset and have a trader’s psychology in order to not lose just because of the mere reason of overwhelming emotions.
Dec 15, 2022 at 06:50
Greed is a dangerous emotion that keeps pushing us to want more even when we don’t need it. Traders should be aware of how greed contributes to their losses while trading. Emotions like greed are the sole reason people get indulged in addiction, over-trading, etc which proves as poison for their trading career. Keep your thoughts from taking over. The more self-assured you are and the more methodical your approach is, the less room there is for greed.
Mitglied seit Nov 29, 2022
40 Posts
Dec 28, 2022 at 06:29
Too much greed can lead to impulsive or risky decisions. Moreover, when traders are driven by greed, you may be more likely to take on excessive risk or to ignore potential warning signs in the market. This can increase the chances of losing money, and can ultimately undermine the long-term success of a trading strategy.
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