Greed, the destruction

Nov 02, 2020 at 12:37
1,915 Zobrazení
39 Replies
Členom od Jul 19, 2020   298 príspevkov
Nov 02, 2020 at 12:37
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.
Členom od Jul 20, 2020   298 príspevkov
Nov 03, 2020 at 01:57
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.
Členom od Oct 16, 2020   137 príspevkov
Nov 04, 2020 at 04:54
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.
Členom od Aug 03, 2019   38 príspevkov
Nov 04, 2020 at 06:29
Correct. Greed is just very harmful for trading successfully. It completely takes over the mind and prevents a trader more acting rationally.
Členom od Nov 02, 2020   36 príspevkov
Nov 04, 2020 at 06:51
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.
Členom od Sep 12, 2017   238 príspevkov
Nov 04, 2020 at 07:00
greed is common amongst the newbies due to which they end up in losses.
Členom od Mar 16, 2020   54 príspevkov
Nov 05, 2020 at 12:45
greed can destroy anything and it is also common in trading.
forex_trader_1984295
Členom od Oct 22, 2020   42 príspevkov
Nov 05, 2020 at 12:50
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.
Členom od Jul 19, 2020   788 príspevkov
Nov 06, 2020 at 01:02
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.
forex_trader_1984295
Členom od Oct 22, 2020   42 príspevkov
Nov 06, 2020 at 05:45
Don't forget to add, as a experienced trader, once you have progressive risk management, you automatically kill greed.
Členom od Feb 05, 2019   43 príspevkov
Nov 06, 2020 at 18:27
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
my experience is my profit
Členom od May 24, 2020   112 príspevkov
Nov 07, 2020 at 12:14
; if you learn, develops discipline and control your emotions when greed fades into the background
Členom od Nov 06, 2020   24 príspevkov
Nov 26, 2020 at 07:19
Being greedy is something that you can control. But if you learn to avoid it everytime you trade, you become a better trader.
Členom od Mar 28, 2021   617 príspevkov
Nov 04, 2021 at 14:01
Greed leads a trader to destruction. You have to be realistic as much as possible when you are trading. There's no option for over expecting than the skills you have.
Členom od Jul 23, 2020   869 príspevkov
Dec 07, 2021 at 17:30
Trading is a mind game. You can't trade based on your emotions and other’s opinion.
Členom od Jul 19, 2020   751 príspevkov
Dec 08, 2021 at 13:30
Yes Greed is the root cause of destruction in trading. It leads traders to the path of over trading. From where it's difficult to come back. Very few people can come back.
Členom od Jul 23, 2020   759 príspevkov
Dec 09, 2021 at 21:09
Most losing traders’ weakness is lack of discipline and too much emotion.
Členom od Nov 23, 2021   34 príspevkov
Dec 15, 2021 at 13:26
Even though making money is the primary reason why many join forex, this approach can lead to big losses if it is too impractical and overseen with greed. Trading requires a set of skills—the knowledge of technical & fundamental analysis, psychology, risk and money management, and statistical maths; it takes months to years to develop these skills. Trading gives results only when you are consistent.
Členom od Jul 20, 2020   399 príspevkov
Dec 15, 2021 at 16:57
LucianVince posted:
Even though making money is the primary reason why many join forex, this approach can lead to big losses if it is too impractical and overseen with greed. Trading requires a set of skills—the knowledge of technical & fundamental analysis, psychology, risk and money management, and statistical maths; it takes months to years to develop these skills. Trading gives results only when you are consistent.

I would go as far as a few years. It really is a marathon not a sprint. There is no rush it is about taking things slowly and build each skill with time. Its important to cover every aspect and not to jump the gun so to speak
Členom od Jun 07, 2021   72 príspevkov
Jan 25, 2022 at 07:17
Greed is the reason why many traders fail. Traders should understand their emotions, good or bad, so they can implement the right strategies to win trades. All traders should use proper money management strategies to minimise loss, such as use of stop loss and take profit order, which can help you take decisions prompted by emotions like greed or fear.
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