Never be greedy in Forex trading business.

[hasan87]

Forex is the biggest online currency trading market place. Millions of dollars is invested by the trader everyday. The traders want to make a huge amount of money as Forex gives a great chance to make a lot of money. This attracts thousands to people. They only invest here to make money though they don't have proper knowledge and experience about this business. Moreover when they earn profit, they want more but ultimately lose everything because of their greediness. What do you think?

 

[FXZoK]

Saying "never be greedy" is easy
Doing "never be greedy" is really difficult in the real world. It may require traders years of experience to do this. Some traders can never manage to do this.

 

[unknownforex]

The one thing that is instilled in me by my training is when I was in the "trading room" in a bank in Chicago, They have signs posted on the wall of the Junior Traders room that states "Make your 20, Bank your Money. It is all about getting pips, if you get the pips the money takes care of itself. The other thing is that the longer you leave your money exposed to the market, the greater the risk of losing it. Just my thoughts.

 

[Daisy]

I think greed can be good in some cases. It keep you working hard for what you want so not tall greed is bad. Some greed is good while some is bad. All is dependent upon you. Just because a person is greedy, it does not mean that he will not be able to control himself. I mean its our basic instinct to want more things cause we need them but it does not make some of us out of control either. I want things but I won't get out of control.

 

[Decub]

Greed is a very bad thing in Forex. It has the ability to change our mindset and turn us from the way we should see Forex, taking away the principles of trading that we know. It makes us see just profits and a high percentage of it rather than just how to trade with tendency of losing.

 

[Pettyeve]

I think greed can be good in some cases. It keep you working hard for what you want so not tall greed is bad. Some greed is good while some is bad. All is dependent upon you. Just because a person is greedy, it does not mean that he will not be able to control himself. I mean its our basic instinct to want more things cause we need them but it does not make some of us out of control either. I want things but I won't get out of control.

People say greed can lift you up higher sometimes if it is positive but I doubt. Greed in forex means expecting to make huge profit where we can't. The much I think is that, if we are working hard to achieve that, then it wouldn't be called greed but hard work. A greedy trader will expect $10 from $10 investment.

 

[Daisy]

The reality is that we all get greedy and as long as you don't let it make you lose then its ok. I mean come on, you don't' want to win some good profit. If not, you would not join forex right. Greed is one of our basic human instinct. We are all guilty of being greedy but as long as it doesn't make us lose our heads and then lose money then its alright. I mean to desire more is just wanting to be successful and I see it as a good thing sometimes and not necessarily bad. I mean I work like sixteen hours sometimes per day just to get to where I am. I mean we all want more than what we have.

 

[amit.neogi]

Forex is the biggest online currency trading market place. Millions of dollars is invested by the trader everyday. The traders want to make a huge amount of money as Forex gives a great chance to make a lot of money. This attracts thousands to people. They only invest here to make money though they don't have proper knowledge and experience about this business. Moreover when they earn profit, they want more but ultimately lose everything because of their greediness. What do you think?

you are absolutely right as i know that human being is greedy not similar for all but when any one invest a amount in market if loss then ok but if at first time if he or she earn a lot of money then he would much more greedy and with out any researche any knowledge any info just invest a lot of amount for more return

 

[Daisy]

I think I want more than what I have but I don't lose control over it. I don't open impulsive trades cause I'm greedy. I can control myself so as long as you can keep yourself cool and calm, dreaming about things doesn't hurt. I think we can control ourselves, even amid greed and temptation. I think that is how I am. I think knowing your weakness and being able to control it is even better.

 

[gkintl]

At least fear will force a trader to close positions early or not use opportunities. There are some advantages in have a little bit of fear towards the market. However, greed is totally evil and has no advantages at all. It simply forces a trader to get caught in traps such as spikes. It is very difficult to negate greed. However, greed can be controlled to a great extent using take profit facility. Under no situation should a trader modify the take profit facility. It will only result in booking lower profit at the end. This is the first step towards controlling greed.

 

[Daisy]

I think sometimes greed can harm you. You might use too much capital and leverage cause you hope to gain some high profit but ended up losing really high amount of money so that situation is very likely to happen to anyone. There are those who lose couple of hundred of k and if we lose like fifty bucks then its no big deal but as a good trader we must keep money management in mind and that means just use modest amount we can handle to lose.

 

[sindarin]

I think sometimes greed can harm you. You might use too much capital and leverage cause you hope to gain some high profit but ended up losing really high amount of money so that situation is very likely to happen to anyone. There are those who lose couple of hundred of k and if we lose like fifty bucks then its no big deal but as a good trader we must keep money management in mind and that means just use modest amount we can handle to lose.

Who wants to be greedy in forex, being greedy will only made traders lose much of their money, also even we trying as the best as we can to trade it still useless for us, for me one of the biggest enemies of each forex trader is their own greediness.

 

[Decub]

Greed is a very bad thing in Forex. When we are greedy. we are bound to become losers in a long run. I guess what the greedy traders always see is a means to make big money and not a means to lose big money. They only realize this when it is already late.

 

[Daisy]

Even many think greed is bad emotions, many trades carry greed to the charts and then some more. They all get greedy. If not, you will not hear of stores of traders losing hundred of thousands of dollars for trying to make millionaire out of themselves. I think they need to sit back and relax cause greed can be somewhat harmful if they can't control themselves. I know the difference between greed and allowing it to knock me down.

 

[budado]

You don't need to be greedy. What you need is to be a fast learner. Because forex trading is all about money. the more you know how to trade the more you can end up having good income. So don't mind if one or two end up incurring loses. Don't mind if you don't make some profit. What is important is that you know how to handle our trading account.

 

[Decub]

Of course, being greedy in the business is just a clean way of losing it all. A greedy trader will always try to look for short ways he can make money in Forex. Here, his dream is not always to trade for long or to trade safe but just to trade and satisfy his high expectation. Most times, the reason for failure is seen a lot in the trader's quest to become rich quick and they feel Forex is a clean and sure way to do so.

 

[budado]

I'm not really focus on having some issue in being greedy. But for me greed is what make me trade in forex. I want to earn money and I want to earn more and more. And this is what motivate me to trade and earn more. So for me greed is good.

 

[ryuken]

It is true that we have to avoid being greedy no matter which business we take up. We may end up making more wrong choices if we become more greedy. I guess those who are thinking about not being greedy should consider making choices based on what is right and wrong in terms of finance.

 

[Decub]

I'm not really focus on having some issue in being greedy. But for me greed is what make me trade in forex. I want to earn money and I want to earn more and more. And this is what motivate me to trade and earn more. So for me greed is good.

Well, it is an individual thing but to the best of my knowledge, greed is just bad, perhaps being expectant and setting some high goals for yourself which you work towards achieving which I do not see as greed but a go getter. If there is no modalities to accomplish some high targets, then it becomes greed.

 

[ryuken]

Greed is something we have to control while doing the money making investments. I don't know how many people are going to be spending the money into the forex trading market this way. It just makes me harder to think on many grounds. that is something we all need to understand as well.