Beginners Greed

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.

Unfortunately it's human emotion, you just need to combat it.

Write out each trade TP,SL why you taking the trade ,max loss for the day ,best time ,events for the day,time between trades,do this for 25 trades to start with,this will force you to think instead of emotion ruling

I can never be greedy, I take what ever the market offers, greediness is bad.

Yeah I was greedy in the very beginning .... Lost a lot.
You can't possibly earl ALL money. Just remind yourself that and you'll be golden.

PeteLanceley 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.

Unfortunately it's human emotion, you just need to combat it.

Combating it is the real difficult part I think.

Steve75 posted:
Being greedy in life and forex can make one only lose everything, but its human emotions to get greedy at times.

So try not to be greedy and trade forex with smartness and not greediness.

Easier said than done. We all come to Forex to make more money. Is that not greedy?

Steve75 posted:

So try not to be greedy and trade forex with smartness and not greediness.

Well that can be difficult to achieve at times.

jordonjamesson posted:
Yeah I was greedy in the very beginning .... Lost a lot.
You can't possibly earl ALL money. Just remind yourself that and you'll be golden.

Right. It has happened with me in the initial days because of my greediness i used to over trade but learnt a lesson and i am doing fine now.

Only get Greedy at the right time, otherwise your a burnt, but don't get greedy

Greed can really have negative impacts on your trades. Its better to become realistic and practical rather than being sorry after incurring losses.

Greed is the worst emotion, emotional trading is bad and let you loose

I agree as well, greed is the cause for most of my profits turned into losts.

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.

Combine emotions and brains, that's your best strategy.

Greed is the killer for trading and also it is the worst emotion and if you have no control over your emotions then it will be difficult for you to make profit consistently in forex.

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.

totally agree. people are trying to suppress emotions, and as a result, emotions are build up and then one day just... BOOM. Do not suppress them - learn how to control them, learn how to use them in your favor, make them your strength. Don't let emotions to ruin your life.

accept losses is a good way to learn

nick3232 posted:
accept losses is a good way to learn

Well not all do that. Rather majority quits trading if they incur a lot of losses.

The beginner should use demo account minimum for three months, sometimes many brokers organize demo contest with real money prizing. Newcomers can join here. It could be great to acquire real trading exeprince.

nick3232 posted:
accept losses is a good way to learn

Exactly. That is the only way one can succeed in forex. Those who run from it don't go too far. Losses and profits must be seen as a part of trading the same way as sadness and happiness is a part of life.