Greed, the destruction

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.

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.

Greed will lure you to places not meant for everybody. Trading requires knowledge, experience and skills. Without knowing risk management, you will end up losing everything. Be cautious and maintaining a trading journal so that you can learn from your mistakes.

Correct. Greed is just very harmful for trading successfully. It completely takes over the mind and prevents a trader more acting rationally.

I know. Greed has affected me too. I think greed is a very common issue with beginners like me and its really hard to control it too. But there's no other option, we have to work on it, if we wanna be profitable.

greed is common amongst the newbies due to which they end up in losses.

Greed and the desire to get rich quickly and easily is part of human nature. You have to be frank to yourself to admit it. But this can be learned to control. It is necessary to understand that this is the first impression of easy money in forex. Easily and quickly here you can only lose everything.

greed can destroy anything and it is also common in trading.

If you want to be greedy, do it wisely and not foolishly. I do go greedy some times to make big profits, but use take outs if you want to risk, meaning if you want to maje 500 on account of 2000, you can risk max of $50 using cut outs, instead of exposing all your funds to the risk. You actually have to be a good money management trader to be able to apply the method I just wrote above.

Greed destroys trading careers. If a trader cannot give up greed, he will never be able to make a profit from trading. If you want to make a profit from trading, you have to give up greed first.

Don't forget to add, as a experienced trader, once you have progressive risk management, you automatically kill greed.

greed cannot be defeated or removed. This is the instinct that allowed our ancestors to survive. If you are greedy, then you have more food, you are better dressed and you have a better chance of surviving.
Unfortunately, greed is indestructible, but it can be controlled and used for good. But this is possible only with a very good professional knowledge of trade.
G - guaranteed
R - rapid
E - entire
E - equity
D - destruction

; if you learn, develops discipline and control your emotions when greed fades into the background

Being greedy is something that you can control. But if you learn to avoid it everytime you trade, you become a better trader.

Jamespaul posted:
Being greedy is something that you can control. But if you learn to avoid it everytime you trade, you become a better trader.

to make a good career in this market, you need to control your greed and emotion.

Uncertainty in the end simply leads to the fact that the trader will be afraid to make decisions. This simply cannot be allowed, because in this case it will be very difficult to get a positive result.

Jamespaul posted:
Being greedy is something that you can control. But if you learn to avoid it everytime you trade, you become a better trader.

you can't get better based on concepts such as greed, it doesn't make you better

Unellene posted:

Jamespaul posted:
Being greedy is something that you can control. But if you learn to avoid it everytime you trade, you become a better trader.

you can't get better based on concepts such as greed, it doesn't make you better

Yes. Greed can destroy your trading career.

Usually, uncertainty can end very badly for a trader. I myself was convinced of this more than once.