Never be greedy in Forex trading business.

[Mugmag]

Greed can lead to changing the trading positions often which is risky as the market is highly volatile and hence unpredictable.

 

[Swissing]

You have got to enter the market with a clear head and a plan, it doesn’t take time to lose sense of situations and get carried away. Do not allow greed or fear to get the best of you. Make wise choices and be practical.

 

[Adolpho Sandoval]

“Never be greedy” is surely one of the most important lessons if traders understand its value. Where everyone is constantly focusing on making money, you need to keep patience to be able to identify profit-making situations and ensure that you are capable of taking the advantage before you open a trading position.

 

[FXOpen Trader]

“Never be greedy” is surely one of the most important lessons if traders understand its value. Where everyone is constantly focusing on making money, you need to keep patience to be able to identify profit-making situations and ensure that you are capable of taking the advantage before you open a trading position.

When we are Greedy then the amounts of losses can also get increased for us.

 

[Plexpe]

Concentrate on the process rather than the result. The psychological problem of balancing fear and greed in forex trading is significant. Backtesting my strategy and discipline aided me. Know that losses and wins are just a part and do not get too excited or demotivated. Keep up with the psychology management to avoid greed.

 

[Vamoose]

Greed is one of the worst emotions that can lead you to take too much risk and make impulsive decisions. It is important to always be aware of your own greed and to try to keep it in check. If you can do that, you will be much more likely to be successful in Forex trading.

 

[Interceptor]

Greed is a reason for several wrong decisions in the forex market. You would obviously want to make your trades work for you but it’s wrong to think about making money all the time. Most times, it should be about learning skills that will help you make money.

 

[EyeCandy]

Yes, greed can cause you to make more mistakes, and those mistakes can lead to you losing money in the forex trading market. Therefore, it is best to separate your feelings from your trading as much as possible.

 

[Hoyism]

It’s quite important to know but not all traders are able to understand the impact of their greed until they lose. Greed distracts you and makes you take wrong steps. When you are a forex trader, it’s really important to stick to your plan, otherwise, be ready to lose.

 

[Pentapolis]

Greed is a strong emotion that works against you. If you see every market movement as an opportunity to make money, you are not just putting your money at risk but your beliefs and knowledge too. So, don’t make a move before you analyse the market.

 

[Hamarchy]

Well, that’s an important lesson to learn. We all want to make money through trading but it shouldn’t turn us into greedy traders who can’t see the strength of the market beyond their greed. To be successful, you must see the market as it is and not how you want to see it.

 

[Monsoon]

When you trade out of greed, you pave a way to more losses that could have otherwise been avoided. Don’t make decisions on the basis of what you see but consider analysing the market before you open any trading position.

 

[Holism]

Greed is the emotions which play an important role while trading forex. The biggest challenge you will likely face in becoming a successful trader is overcoming your greed. Slow and steady wins the race; if you try to make money on every trade, you will probably end up blowing your account. Like many other worthwhile endeavours, getting past greed takes a lot of work and self-control. Although difficult, it is possible with practise, discipline, and the willingness to lose.

 

[Merycism]

Managing and dealing with greed is not something that can be solved in a few trades over the next few days; it takes time and practice. I believe the most important thing you can do to overcome greed is to concentrate on yourself. When you focus on other people's results and the money they make, it's easy to become greedy. Also, being disciplined and following the trading plan will help you stay out of greed.

 

[FXOpen Trader]

Managing and dealing with greed is not something that can be solved in a few trades over the next few days; it takes time and practice. I believe the most important thing you can do to overcome greed is to concentrate on yourself. When you focus on other people's results and the money they make, it's easy to become greedy. Also, being disciplined and following the trading plan will help you stay out of greed.

We will have to bring down the Greed when doing our trading into the markets.

 

[Gibbosity]

Greed is the emotions which play an important role in trading. New traders and their accounts have suffered because of greed. Like many other worthy efforts, overcoming greed requires a lot of effort and discipline. It isn’t easy, but it can be done. To avoid being a greedy trader, strictly follow your trading plan. You should have a complete trading plan before entering any trade. A plan which includes entry price, stop loss price and price at which you are going to book profit. When you can follow your trading plan with strict discipline you will be able to generate constant profits.

 

[Madison Lopez]

If you are trading emotionally or in greed to make more money, emotions can cause you to pay a high price. This type of emotion can encourage you to trade more, which is harmful. Emotional control and self-discipline are two extremely important factors to understand.

 

[Anie]

Greed has never been a factor in any trader's success. If you want to be successful in the long run, forget about the notion of making money quickly and concentrate on learning.

 

[magnum]

We need to understand the fact that trading greed pushes you to act in situations you should not but this can only be mastered with practice.Greed can often put you into huge losses which cannot even be covered with your current capital so to avoid such situations one should put aside the rich quick mentality and work hard by learning from the bottom. Get your hands on a demo account to learn risk management .

 

[Zoltan_]

Yes, becoming greedy when it comes to trading can be very dangerous because trading requires a sound and calm mind.