Beginners Greed

Do not suppress emotions, you need to manage them. Only full control over the mind, emotions and body can give a positive result.

Roberto21 posted:
Greed and emotions almost same. Generally beginners attacked by this common human nature. We can control this by proper trading practice as well great discipline.

Not only trading practice but also mediation; even I see meditation helps me a lot than the trading practice especially in this case!

AniLorak posted:

Roberto21 posted:
Greed and emotions almost same. Generally beginners attacked by this common human nature. We can control this by proper trading practice as well great discipline.

Not only trading practice but also mediation; even I see meditation helps me a lot than the trading practice especially in this case!

What’s the process of your meditation? Can you please explain?

Roberto21 posted:
most of the traders become addicted for bringing profit very rapidly , its a main problem , they should addicted to learn Forex that can make more profit from trading.

True, that is where most beginners are lacking today. They just want quick returns without any hard work.

This is why; new traders should start with a long term plan! Having a short term plan makes newbie crazy for sure!

yes i agree, too many advertise Forex on Social media claiming it will make them rich overnight.

Roberto21 posted:
most of the traders become addicted for bringing profit very rapidly , its a main problem , they should addicted to learn Forex that can make more profit from trading.

100% correct

FirstHero posted:
Do not suppress emotions, you need to manage them. Only full control over the mind, emotions and body can give a positive result.

Trading on emotions causes things such as revenge trading and over trading in general and blown accounts.

Focus on Risk Management as the #1 priority above all else when it comes to investing.

If a person has a problem suppressing their emotions, then they should AUTOMATE those systems that are impacted by the emotions of the trader.

Emotions have NO PLACE in trading.

steveday1976 posted:
yes i agree, too many advertise Forex on Social media claiming it will make them rich overnight.

Beginners get charmed by these advertisements. I don’t even understand why people would run after such.

Market research is needful to make wise trading decisions and constant practice and learning will lead you to achieve the desired goals in trading business sometimes greed effect the trader as result of loss as well.

It’s hard to get out of the gambling mentality when starting out. Just takes time :) I used to blow accounts all the time 5 years ago :p

Professional4X posted:

FirstHero posted:
Do not suppress emotions, you need to manage them. Only full control over the mind, emotions and body can give a positive result.

Trading on emotions causes things such as revenge trading and over trading in general and blown accounts.

Focus on Risk Management as the #1 priority above all else when it comes to investing.

If a person has a problem suppressing their emotions, then they should AUTOMATE those systems that are impacted by the emotions of the trader.

Emotions have NO PLACE in trading.

That’s true. But letting go off your emotions is a slow process.

Smith88 posted:

steveday1976 posted:
yes i agree, too many advertise Forex on Social media claiming it will make them rich overnight.

Beginners get charmed by these advertisements. I don’t even understand why people would run after such.

That’s for the basic reason that they want quick money and the offers that these scammers throw definitely make you see huge earning potentials in there. Beginners just get trapped because they think that they will really be able to make money with them.

traderroni posted:

Professional4X posted:

FirstHero posted:
Do not suppress emotions, you need to manage them. Only full control over the mind, emotions and body can give a positive result.

Trading on emotions causes things such as revenge trading and over trading in general and blown accounts.

Focus on Risk Management as the #1 priority above all else when it comes to investing.

If a person has a problem suppressing their emotions, then they should AUTOMATE those systems that are impacted by the emotions of the trader.

Emotions have NO PLACE in trading.

That’s true. But letting go off your emotions is a slow process.

Effective automation where reasonable and realistic.

due to greed beginners try to bring profit very rapidly without learning , as a result when trading practically they become loser and ultimately blame this stock market.

Greed often leads to losses. Hedge fund manager will by happy with 10% per year but newbie trader wants 10% per day!!! No wonder they lose

saturdayresearch posted:
Greed often leads to losses. Hedge fund manager will by happy with 10% per year but newbie trader wants 10% per day!!! No wonder they lose

Good point; unrealistic trading targets leading the account damage issue! Many traders are targeting unrealistic profit in their trading.

orex trading is no doubt a lifestyle Changing business you have to be very patient and keep an eye on the market conditions greed is a human nature but usually new traders have greed because lack of experience

FirstHero posted:
Do not suppress emotions, you need to manage them. Only full control over the mind, emotions and body can give a positive result.

The first reply I read on this thread and that's what I agree with!

Never suppress emotions. This applies not only to trading. As soon as you try to suppress your emotions, your problems will begin much more seriously than greed, because these will be subconscious complexes and blocks. Unraveling these nodes will be very difficult. Learning to manage is the right way and the only way to successful trading without the influence of an emotional background. Various exercises (use google) will help you come to a state of calm and maintain it. Our emotional background is closely related to the physical body. Therefore, it is also important to monitor your health. Moreover, sometimes a lot of help is just discussion and communication.