CraigMcG2020 posted: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.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
Sep 14 2021 at 11:48
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.
Sep 25 2021 at 16:06
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.
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.
Sep 29 2021 at 20:44
skihav posted:Yes. Lack of experience can put a trader into a great danger.
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.
It is really true that greediness most of the time causes bad effects. There are many examples of a rich person becoming poor by just wrong decision and greediness.
Dec 22 2021 at 12:38
As a newbie, due to excitement in earning profits and gaining knowledge about the forex market, should start with a small account with a small opening balance of $100AUD, and engage in currencies like USDEUR with an experienced broker.
Sometimes for a beginner this is a lot and it is better to use a cent.
Beginners cannot cope with the emotions which they experience during trading. It requires some experience and skills to stay away from psychology and turn to common sense. That is why it is better for the beginners to start trading microlots and avoid risking your whole trading budget.
Actually, as human nature, as greedy not only beginners but experienced traders also possible appear greedy on their minds, especially when they look the confidence analysis, will increase lot size because they sure will obtain profit, but what happen the market is dynamic, one tick changes will make all plan messed up when greedy trading.
If you understand psychology and money management, forex can become much easier for you. It’s greed that makes us impatient and take risky decisions, whose outcomes make us the part of the 96% traders who lose money.
Dec 29 2021 at 06:57
Nakedize posted:Yes. I agree with you. Most traders lose their money because of their greedy nature.
If you understand psychology and money management, forex can become much easier for you. It’s greed that makes us impatient and take risky decisions, whose outcomes make us the part of the 96% traders who lose money.
Dec 30 2021 at 06:26
It’s not the fault of new traders to feel greedy at the beginning of their career. Most of us get to know about forex trading through a highly unrealistic ad showing the success story of a really profitable trader. While they show all the good things to attract new traders, they hide the hard work, years of failure and unwavering will power that is required to make it to that level. New traders think that if someone else can do this, it must be easy and they can do it too. It’s only the personal experience that uncovers the reality.
Sometimes its seen that traders when they get a huge profit suddenely they are trapped with greed and like that they can demolish the trading career instead of success.
success is a big deal in this market place , need a long time experience with great level of patience.
Dec 30 2021 at 11:39
Imamul posted:I agree with you, in forex market, to be profitable one need to be patient as well as dedicated enough.
success is a big deal in this market place , need a long time experience with great level of patience.
Coming into trading with realistic expecations also helps to reduce greed and pressure on it to make life changing money.
If you can't spot the liquidity then you are the liquidity.
Greed is only one emotion which is experienced by a newbie on the market, unfortunately. Beginners are bad at controlling their feelings during the trading session because they should learn how to work with their own psychology.
Jan 10 at 11:21
the beginners always try to bring profit with no learning, as a result, they fall great trouble when trading in practical.
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