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Never be greedy in Forex trading business.

K

Kazumu Fukunaga

Gito Dinev said:
New traders and their accounts often suffer from greed. overcoming greed requires a lot of effort and discipline.
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All the successful traders on the planet are disciplined traders. They may have distinctive trading techniques however one thing is normal which is they are restrained. Taking in the market and being control is trading is the way to accomplishment here.
 
J

justintaylor

Just like you all, I also believe that we shouldn’t be greedy when we are trading forex. But in reality, is it that easy to not be greedy?
Don’t we all keep looking for new opportunities to make money after we have achieved a certain milestone? And if we don’t keep looking for new money making opportunities and stop trading, would that be fine?
I don’t think that being greedy is always wrong. It is when it makes you trade unnecessarily. But not when you are finding ways to make more money because ultimately, that’s what we all came here for.
 
C

CarmeloGiroux

It is difficult not to be greedy and that is why in Forex only 3%-5% people who have great control on their emotions make successful trades.
Yes we all have come here to make profits but risk management is also important.
 
FXOpen Trader

FXOpen Trader

CarmeloGiroux said:
It is difficult not to be greedy and that is why in Forex only 3%-5% people who have great control on their emotions make successful trades.
Yes we all have come here to make profits but risk management is also important.
Click to expand...
We will have to understand that doing our trading in the Forex markets is not going to be easy and we need to use some controls.
 
H

Hobbledehoy

@justintaylor
Exactly! It is wrong to be greedy without calculating risks. There is a very thin line between being greedy and being an opportunist. And traders need to figure it out by themselves and stop over trading because it can lead to big losses.

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M

Malapropism

Greed is an emotion that comes naturally to humans, but greed in forex trading can be disastrous. Successful traders are those who remain disciplined no matter if they win or lose.
 
M

miriamgriffin

justintaylor said:
Just like you all, I also believe that we shouldn’t be greedy when we are trading forex. But in reality, is it that easy to not be greedy?
Don’t we all keep looking for new opportunities to make money after we have achieved a certain milestone? And if we don’t keep looking for new money making opportunities and stop trading, would that be fine?
I don’t think that being greedy is always wrong. It is when it makes you trade unnecessarily. But not when you are finding ways to make more money because ultimately, that’s what we all came here for.
Click to expand...
I agree with you. Greed isn’t always bad. It's the decisions that we make for that greed which sometimes prove to be of loss. Making good decisions is important in trading. Risk management and discipline can help you make money even if you are greedy for that trade.
 
FXOpen Trader

FXOpen Trader

miriamgriffin said:
I agree with you. Greed isn’t always bad. It's the decisions that we make for that greed which sometimes prove to be of loss. Making good decisions is important in trading. Risk management and discipline can help you make money even if you are greedy for that trade.
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If we will reduce the greed in doing the trades then the income we are going to get will also get increased.
 
L

lynnsandoval

Greed is the answer to the question why most traders fail. Forex can be very rewarding if you have the skills and persistence. Traders become impatient and take risks that cost them big. Forex is a market where reward and risk go together. However, it doesn’t mean there is a guarantee that you win handsome profits every time. Traders should first learn to take small risks, so they are capable of handling bigger trades.
 
F

FundUp

You will be clouded with bad judgment if you let your greediness get in the way of your trading, so this is why it is never recommended to become greedy when you are making profit in forex trading business.
 
FXOpen Trader

FXOpen Trader

FundUp said:
You will be clouded with bad judgment if you let your greediness get in the way of your trading, so this is why it is never recommended to become greedy when you are making profit in forex trading business.
Click to expand...
We should not become greedy and try to do our trades with proper controls.
 
N

Nayek Pichai

There are some human qualities that destroy a trader’s career. Greed is one of those qualities that inspire a person to take even more risk than his capability to get rich overnight. This is the reason maximum traders fail from Forex trading business. So, mindset is the big challenge for a trader.
 
D

David Marco

The presence of greed in trading can destroy you. Greed always inspires a trader to take high risk in trading that leads to big losses. But, it’s really a common issue to have greed in the mind of new traders. So, my suggestion is don’t let this greed nest into your mind if you want to save yourself from a huge balance crash.
 
B

Bahiya Shinam

hasan87 said:
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?
Click to expand...
You are absolutely right, I see a number of new traders are trading without proper money management rule; as a result more than 98% new traders are the losers! Basically Forex trading is all about the money management rule, so if you try to make quick money here, then definitely you’ll be sufferer!
 
M

maxlvg

Greed is the biggest enemy of the trader. Greed leads traders to become impatient. This does not allow traders to wait and seek for the right trading opportunity. Greed also leads to overtrading.
 
B

Blinker

Acting with greed is the natural reaction to the highly liquid market such as forex. But you need to remember that, risk and reward go hand in hand in forex. So risk only money, which you are comfortable to lose.
 
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