Control your greed.

A bit of greed is necessary though otherwise there would be no incentive to succeed

Yes, you have to control your greed if you want to make a career in the forex market. Because greed can put you in great danger. You may lose all your investment.

after a losing streak, my mentor told me the same thing and it had changed my trading results ever since

take control of your mind
and take control of your greed , i think its a very simple solution.

Every trader wants to make money from this market. But making money is not so easy. The most important thing you have to do is to control your greed to make money from this risky market.

Trade is Great

Greed is normal to all humans, you have to learn how to stop this feeling in yourself to earn profit.

mathenray posted:
Greed is normal to all humans, you have to learn how to stop this feeling in yourself to earn profit.

Trader don’t feel any emotion in demo account. So, I think cent or micro account with small capital is best to learn about greed and control it.

Emotions are the hardest to control, so understandably the biggest area for a new trader to work on.

the most thing is to control greed if that does not happen i believe a trader cannot be successful

Yes, greed can be your biggest enemy in forex trading. If you are not able to slow your pace and think well before making a decision you will most likely end up making a wrong move if you allow greedy feelings to lead the way. You need to pur emotions at bay and focus on a realistic and complete analysis as much as you can.

mab8 posted:
Yes, greed can be your biggest enemy in forex trading. If you are not able to slow your pace and think well before making a decision you will most likely end up making a wrong move if you allow greedy feelings to lead the way. You need to pur emotions at bay and focus on a realistic and complete analysis as much as you can.

If there is greed in any matter, nothing good can be expected from him. Greed is the most harmful emotion in trading. Which can create many problems to survive in trading.

Very few traders can control greed. It is not a cup of tea for all traders. It needs right education and prarice to control greed in trading.

Greed will do you no good, everybody knows it, however, it becomes vivid when a greedy person deals with financial operations. If you try to get more than it it possible, you'll definetely fail sooner or later. So, what oyu need to do is to listen to your common sense and do your best to hedge the risks even psychological ones.

In order to protect yourself from large and unforeseen risks, it is best to prescribe a program plan in advance and work on it.

@Garrian Yes greed is the most destructive feeling in trading but people can't resist them from being greedy. That's why discipline is very important in trading.

I think it majorly depends upon a trader's goals . We see traders who have long term goals succeed more often than those who have short term goals. This is because the majority of traders that have short term goals are driven by greed to make quick big bucks which never ends up in their favour, rather they lose most of their money in a couple of days.

Greed is a very bad thing, We do our harm by being greedy and greed is present in all of us, but we have to control it. All people try to be tempted to be a business or any work and want to succeed quickly, but it is a wrong decision, all those people should always work in the forex business until the crown today, watch out for hurry. Online business requires us to work slowly and not too fast. Hurrying hurts and greed is a bad thing.

Greed is one of the worst enemies. However, a trader with proper money management, discipline does not have a chance to be greedy. I assume as time goes by a trader with his experience gets less greedy.