Forex Forum to Share, Discuss, Communicate and Trade Forex

Greedness is harmful!!

This forum is for new and aspiring Forex traders. Trading can be very risky but can also bring great rewards. No one starts with continuous success but many continue with the success. It's a continuous learning, unlearning and learning again. Ask your questions, share your frustrations and also smiles of success. The objective is to have more and more smiles. Hoping to have the pros to frequent this playground to coach the new team here.
Image

Re: Greedness is harmful!!

Postby F0r3xMaster » Sun Nov 23, 2014 6:10 pm

I have a friend that had one simple rule. If he earned 100% of his monthly goal, he stopped trading until the next month. Sometimes he got it on the first week, and so he just relaxed for the other weeks. He always told me that one can not be greedy, because it's more of a psychologic thing: if he decided to keep on trading, and lost his month earnings in the second week, he would try to recover it in the next week, risking losing a lot more for not being on his best mental state.

Great lesson for me.
F0r3xMaster
 
Posts: 7
Joined: Tue Jan 10, 2012 3:27 pm

Re: Greedness is harmful!!

Postby April Spitzer » Mon Nov 24, 2014 12:22 pm

Greed is an unsatisfactory attitude of traders which leads to unacceptable risk and loss. Greed is one of the factor that is needed to be eliminated in order to be successful in this Forex business, so avoid being greedy and trade not on your emotions.
www.ExplosiveForex.com
Profitable, Safe, Reliable, Simple Trading System
April Spitzer
 
Posts: 8
Joined: Wed Nov 05, 2014 6:03 am

Re: Greedness is harmful!!

Postby Husam » Fri Dec 12, 2014 4:35 am

Thanks for your post. It’s really true. Greed and emotion is our main problem. On the other hand, money management is the key of success. So, never avoid the general rules of Forex. By the way, now I can easily overcome my losses. Because, I know the basic rules of Forex very soundly by reading ‘Free Forex eBook’ of GCI Financial. Actually, my trading knowledge always helps me to take right decision in proper time. interestingly, now I can earn huge money for every months. Because, my trading partner always ensures me highly protected trading environment. Even, it also allows to hedging. Now, I am using my mobile phone for trading without any extra fees.
Husam
 
Posts: 426
Joined: Fri Oct 03, 2014 12:01 pm

Re: Greedness is harmful!!

Postby uncle gober » Thu Dec 25, 2014 12:19 am

greed is a major cause of most of the losses some traders because it simply takes advantage of the trader in a large profit and risk a large part of the account, hoping to make a significant profit, but if the trend was reversed will lose a large amount
Become IB of Tickmill
uncle gober
 
Posts: 527
Joined: Mon Apr 01, 2013 12:59 pm
Location: Become IB of Tickmill - ( $6 per lot on a Classic and $2 per lot on ECN Pro and VIP accounts )

Re: Greedness is harmful!!

Postby forex_abode » Sat Feb 07, 2015 6:29 pm

You are the final decision-maker for your portfolio, and thus responsible for any gains or losses in your investments. Sticking to sound investment decisions while controlling your emotions, whether it be greed or fear, and not blindly following market sentiment is crucial to successful investing and maintaining your long-term strategy.
forex_abode
 
Posts: 25
Joined: Thu Jan 29, 2015 9:27 pm

Re: Greedness is harmful!!

Postby Rowena Jeffers » Sun Mar 29, 2015 7:41 pm

Greed is harmful but expecting more is not and if we expect more then it’s good because it means we are aiming to improve our life and that can’t be called been greedy. I am not greedy but still I do scalping only since I am trading with best broker of Asia OctaFX, it has terrific conditions that is helpful for scalping and that includes their low spread of just 0.2 pips and superb trading platform with all trades getting executed instantly.
Rowena Jeffers
 
Posts: 33
Joined: Thu Feb 12, 2015 2:01 am

Re: Greedness is harmful!!

Postby Ryan Higgins » Tue Apr 28, 2015 12:11 am

I am never going to blame greediness only because when we exceed limit of something that becomes dangerous, so even if greed is good it’s only till it’s within the limit, but once it goes past that then it is the time where it becomes extremely harmful. I work with OctaFX broker and they have really outstanding conditions that really reduce greediness or at least the risk in there, it’s with their rebate service where I am able to earn 15 USD per lot size.
Ryan Higgins
 
Posts: 122
Joined: Wed Mar 25, 2015 10:31 am

Re: Greedness is harmful!!

Postby Sininfinity » Tue Apr 28, 2015 5:00 am

mdenamul wrote:Most of the trader become greedy while they are trading their currency. I presume that greedy is the emotional part of human being and emotion while trading is so much dangerous for the trader. So every trader should be control greedy for become successful trader in Forex.


Your assumption is totally correct. Greed can destroy a good trade. It is one of those emotional aspects which need to be kept aside while trading. If it is not possible to do so then stay away from a trade and wait for next opportunity.
FXOptimax.com - Spread from 0 pips, Promotions
User avatar
Sininfinity
 
Posts: 1997
Joined: Sun Apr 28, 2013 5:04 am

Re: Greedness is harmful!!

Postby Anand Tirkey » Fri Aug 21, 2015 9:47 pm

Yes, I completely agree greediness is extremely harmful and that is one of the strong reason why there are so many losers instead of winners, but this is something that can be covered with proper hard work and correct planning, but now I am not saying it’s easier either, hence we have to balance things out to make it big in this market.

Right now I am making solid level of profits and this is possible with OctaFX broker, I might be listed in greedy traders list, but the difference is support, I am getting strong rebate service where I earn 15 dollars profits per lot size and that makes me aggressive, but it’s from been harmful at all for me.
Anand Tirkey
 
Posts: 56
Joined: Sat Aug 01, 2015 8:59 am

Re: Greedness is harmful!!

Postby Charles Baksh » Mon Nov 09, 2015 6:09 pm

Yeah greediness is definitely harmful, but been passionate and hungry for success is never bad. The unfortunate thing is that most people are greedy not hungry, if we want to make it big then greed is not something part of it, but hunger to achieve big is what we need. I get plenty of help with Nova FX broker given their magnificent offers like Super Nova to give me 5% extra while there is also smooth trading platform that makes trading all pretty easy.
Charles Baksh
 
Posts: 100
Joined: Thu Feb 19, 2015 8:12 pm

PreviousNext

Return to Forex Foundation - Forum for Beginners

 

Who is online on Forum

Registered users: Alexa [Bot], Baidu [Spider], Bing [Bot], Google [Bot], Google Adsense [Bot], Yahoo [Bot]