Control your greed.

Greed can be dangerous for your trade and you can lose due to greed. Although it is difficult to control greed but you should control it to make profit in Forex. Make a good sterategy and plan and you will be a successful trader.

Yes, there is a lot of money to be made from Forex which has the potential to change your lifestyle. But this is not to say that you will change your lifestyle overnight. If greed destroys people, then if you become more greedy, your destruction is inevitable. If you want to change your lifestyle, you have to give up greed. Remember it is a business, it has to be run as a business. As far as I know, Forex is a very profitable business. If greed can be controlled, our lifestyle will change.

Greed is one of the killers of Traders, overcome it and you will be very succeful. I'm glad to be in the Leagues of trader that don't give eed a room.

If you want to be a successful trader, greed is probably the biggest obstacle you have to overcome. If you try to get rich in every trade, you are more likely to blow up your account. Self-control and right mindset can help to overcome this negative emotion.

LyudmilLukanov posted:
If you want to be a successful trader, greed is probably the biggest obstacle you have to overcome. If you try to get rich in every trade, you are more likely to blow up your account. Self-control and right mindset can help to overcome this negative emotion.

True. In the end it all comes down to self-control which is a very hard thing to find in the human nature. But if we really want to excel in trading we need to know how to keep ourselves calm and stay away from greed.

EllisParker posted:

LyudmilLukanov posted:
If you want to be a successful trader, greed is probably the biggest obstacle you have to overcome. If you try to get rich in every trade, you are more likely to blow up your account. Self-control and right mindset can help to overcome this negative emotion.

True. In the end it all comes down to self-control which is a very hard thing to find in the human nature. But if we really want to excel in trading we need to know how to keep ourselves calm and stay away from greed.

There is nothing hard about self-control if you truly decide to follow it.

Yes, greed is one of the bad qualities for trading. We should be realistic about our target. Most people think of unrealistic profit target. Now the question is what's the realistic target? It depends on your skills. Set your targets according to your skills.

I don't have target for each day, I trade to make profits each day and takes home whatever profits I could make each day from the market condition.

Greed is very dangerous for trading. It causes huge loss. People expect to make money over night. That too without enough knowledge and skills. Expectation should be proportionate to the skills. Otherwise it will lead to destruction.

Michihito posted:
Greed is very dangerous for trading. It causes huge loss. People expect to make money over night. That too without enough knowledge and skills. Expectation should be proportionate to the skills. Otherwise it will lead to destruction.

Agreed
It's truly a long term gain that requires considerable hindsight and general risk management from both a mathematic and psychological viewpoint
Ensuring that trade plans are stuck to and that irrational behaviours are quickly eradicated is essential
Trading journals which are as qualitative as well as partly quantitative are particularly useful in identifying patterns/results

when a person starts to trade in forex he needs to be ready for self-control.

when a person starts to trade in forex he needs to be ready for self-control.

i for all time try to continue meditation ,
its really supportive to control all bad habits those hinder our successful life.

You need to set specific and clear goals for yourself and then there will be a result

Andronn posted:
You need to set specific and clear goals for yourself and then there will be a result

I must add if you must set Goals to meet, set it on Monthly bases, Unless you are a good scalper, As a Scalper, I don't set Goals but take whatever profits I can each day.

Of course, greed is more common among beginners, but also experienced traders. Many new traders come to the market with thoughts of making quick money and therefore are often greedy and lose their investments. Consequently, I advise all beginners to work hard on themselves and their psychological state, and then it will be much easier for you to trade.

My opinion is that all the basics of trading are based on the greed of people, greed allows most people to lose soy money and only a few manage to earn, because accounts collapse not because a person entered a small lot, but in 99 percent because the amount of a lot was more than the allowable ...

Greed is the most dangerous enemy in forex trading. Most of the traders lost their money because of their greedy behavior. So, try to avoid this nature if you want to become successful in this platform.

Greed is very dangerous and the big enemy of Forex trading. Due to this greed most of the traders lose their money and left the market. If you want to make good profit in Forex than you need to hae control over your greed.