Greed, the destruction

croisssan posted:
Self-doubt can really kill all positive qualities in a trader. You need to be prepared for this.

Completely agree its about having that self belief and persistance that is really the bedrock of trading. Its the only way to handle the inevitable losses

Greed is harmful not only in forex trading but in general too. Most people join forex with a greed to make money and some are very eager to do it as quickly as they can. But unfortunately these people lose their money in forex trading. The reason for loss is investing in forex without the required knowledge.

Greed is mainly activated due to the huge risk taken by using high leverage. So, it's very important to use it wisely.

Forex trading is dangerous if you are greedy. Forex trading is best when you can control your emotions. People who are unable to control their emotions will lose money.

Very true. I kind of had the opposite problem because I struggled with anxiety in the beginning, but I see a lot of beginners that are looking to rush into it wanting to take big risks and get big rewards. A lot of them quit when they realize how much goes into it out of laziness.

Greed will never let you stay in the game for a longer duration.

Greed, fear, and anxiety, they make traders weak. You can’t eradicate them completely from your life, but you can learn to control them.

I believe that when we trade with greed we will lose control of our trading, along with fear, of course. You will lose your account if you do both. It is extremely important to control your greed, that's why we can make more profit in forex ..Trading in forex, it is not good to be greedy.

Greed and other emotions can be taken completely out of trading if you follow your trading rules. When the market meets and completes a rule - enter the trade. That's it!

Michihito posted:
I do consider greed as one of the reasons for loss. Truth be told, the vast majority come into forex with an unreasonable greedy expectation of being rich by overnight. They put more emphasis on making profit than aptitudes. They overlook that the aptitudes will bring cash. You need good study and practice to wind up noticeably skilled.

I have a solution, basically I have a fixed money management plan , so I don’t take any aggressive trade position right now! Generally it’s not easy to control greed & emotions during the trading time!

Yes, another name of greed is destruction because greed razes down a trader’s career. Every investment is valuable to traders and so traders should be careful about handling their investment. Proper money management and risk management should be managed to flourish one’s trading. But, we see these tendencies are absent among traders.

Tilokvarma posted:
Yes, another name of greed is destruction because greed razes down a trader’s career. Every investment is valuable to traders and so traders should be careful about handling their investment. Proper money management and risk management should be managed to flourish one’s trading. But, we see these tendencies are absent among traders.

So true its when traders overleverage or try to make much more than their plan allows it gives to major issues and eventually a downfall

Greed is one of the most dangerous emotions that traders experience in trading. Traders should trade with consistency and have stringent trading rules to overcome greed. That may include overleveraging and finding methods to stay focused in trading.

Greed leads to destruction as under the influence of greed traders tend to overtrade which eventually leads to making inefficient trading decisions that result in blowing the whole account.

Greed is one of the negative psychology that should be taken out before you are doing any trading. It is harmful, and dangerous to your trading.

LeviSievwright5 posted:
Most people join the trading world interested in making huge profits. Here their greed works in abundance. Greed destroys trading careers. Trading is not a money-making machine. Proper Money Management and Risk Rewards are required to earn a trading profit. It is not possible to survive in trading without trading with patience.

You are absolutely right, money management is such an important parameter here; no way to ignore this rule! I see, almost all of the pro traders follow the MM rule so tightly! That’s why they don’t face such a big crash in their live trading!

Although forex trading can make a big profit in a short time with greed, trading high risk-taking is highly risky, not recommended to become greedy in trading, because forex trading is about how to manage money to make money, greed like as disastrous in trading, it will never last long.

Do you yield to greed? Then come out of it at the soonest because it destroys the dream of a trader. It is the worst part of a person’s nature. Forex and greed cannot be juxtaposed. Try demo trading and check different indicators. Thus you will be able to generate a strategy that can make you profitable.

Michihito posted:
I do consider greed as one of the reasons for loss. Truth be told, the vast majority come into forex with an unreasonable greedy expectation of being rich by overnight. They put more emphasis on making profit than aptitudes. They overlook that the aptitudes will bring cash. You need good study and practice to wind up noticeably skilled.

Yep for sure.

Holding a trade for too long (and it coming back to a loss or breakeven), or over leveraging. A lot of people fall for it.