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Forex Forum to Share, Discuss, Communicate and Trade Forex • Greedness is harmful!!
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Re: Greedness is harmful!!

PostPosted: Sat Nov 14, 2015 5:22 am
by Sininfinity
F0r3xMaster wrote: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.


100% monthly sounds very unrealistic for me unless it is a tiny amount one is investing in his or trading. When one deposits a decent amount of money then one has to plan properly and a 20% monthly profit target is too much in my opinion.

Re: Greedness is harmful!!

PostPosted: Wed Nov 18, 2015 10:10 am
by jackwatson359
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.

yes, i also agree with your opinion.

Re: Greedness is harmful!!

PostPosted: Wed Nov 18, 2015 12:14 pm
by radex78
Sininfinity wrote:

100% monthly sounds very unrealistic for me unless it is a tiny amount one is investing in his or trading. When one deposits a decent amount of money then one has to plan properly and a 20% monthly profit target is too much in my opinion.

Yes so hard to having goal for 100% profit monthly, although possible as expert trader they can make big profit, but most important in trading also how to keep our profit that already obtained, often we can make big profit today but sometime loss again for tomorrow trading.

Re: Greedness is harmful!!

PostPosted: Sat Dec 10, 2016 11:42 am
by Sininfinity
radex78 wrote:Yes so hard to having goal for 100% profit monthly, although possible as expert trader they can make big profit, but most important in trading also how to keep our profit that already obtained, often we can make big profit today but sometime loss again for tomorrow trading.


The market has infinite earning potential but there is a number to it. One entity can not take it all. So we have to be realistic in this case.

Re: Greedness is harmful!!

PostPosted: Sun Dec 11, 2016 5:40 pm
by kxforexmart
When we as a trader are gripped with greediness ,we can lose our main trading principle and that can be very much fatal for us because in that process we can blow our account and lose our equity in short span of time.

Re: Greedness is harmful!!

PostPosted: Sun Dec 11, 2016 10:46 pm
by radex78
Greedy is one emotion that leading trader to trade with high risk taker because they over confident, look the market that likely will move on one direction, indeed sometime greedy giving big profit, but for overall greedy is harmful account and many trader already proven if greedy only causing failure

Re: Greedness is harmful!!

PostPosted: Mon Dec 12, 2016 7:25 pm
by Greg
Greed tells you to let your winner run and not settle for a partial profit, and fear tells you to close your trade. A compromise could be moving the Stop Loss order to the break even point, or to some profit. Too many traders tend to do nothing – let the positions float and hope the price will reach their Take Profit or continue moving in their direction forever. This may end in a market reversal and a losing trade.

Re: Greedness is harmful!!

PostPosted: Mon Dec 12, 2016 10:05 pm
by radex78
Don't let greedy control our trades, because in forex trading we also need control the risk in trading which not always as trader will harmful account and often causing failure, and if we can't control our greed maybe because bad in psychology trading and this not suitable for emotion trader

Re: Greedness is harmful!!

PostPosted: Sat Mar 11, 2017 4:44 am
by Sininfinity
Greg wrote:Greed tells you to let your winner run and not settle for a partial profit, and fear tells you to close your trade. A compromise could be moving the Stop Loss order to the break even point, or to some profit. Too many traders tend to do nothing – let the positions float and hope the price will reach their Take Profit or continue moving in their direction forever. This may end in a market reversal and a losing trade.


Well said. Greed and fear exactly does that. But on your second phrase I disagree a bit. I myself set my stop loss to a few pips positive when my profitable trades move a certain point and sometimes let my position run or take partial profit. That depends on my view of the market.

Re: Greedness is harmful!!

PostPosted: Mon Mar 20, 2017 1:38 pm
by kxforexmart
When we are greedy ,we can be trapped with the silly mistakes and like that we can lose our money and pips from our trading accounts and for that we should have control over the emotion factors.