Maximum traders in Forex like to trade with high leverage for making profit instantly. But traders who make profit consistency , I don’t think they use high leverage. They way I see it. High leverage gives us the benefits not to worry about margin requirements and one less thing to focus on. Abusing leverage can be costly for traders.
gabeorwel posted: Hello! Unfortunately, there is no on/off switch for such a feature like 'greed'. I remember 13 years ago, when I discovered Forex market, greed was living in my heart. And my trades were awufull. What helped me - is to treat Forex not like a money machine, but more like a side-hustle. Also having a full time job helps a lot, so I had money and I was not thinking about getting more. Not full time, not so serious, less worries. Also trading on a Forex looks like having a cat (not my words, but completely agree with them). If you are chasing a cat, that cat will run away, but if you stop chasing and you have what cat loves - cat will run towards you eventually.
Same thing with money. If you are chasing them with all you heart and soul and that's everything you can ever think of - you'll fail. If you will have what money likes - patience, long term vision and love for what you do - money will come. Trust me. Have a good one.
I really like what you said. Saying that we have to control our greedness is easier than done. Thank you for sharing the story.
Greed can be dangerous for your trade and you can lose due to greed. Although it is difficult to control greed but you should control it to make profit in Forex. Make a good sterategy and plan and you will be a successful trader.