Greed is often the reason of failure in trading. People make unrealistic expectations of profit and and take high risk which they cant afford to. When those risks backfire many blast their accounts and loose all their investment. Please share your experince about encounter with Greed in trading
As a greedy trader one expects more he is over confident thinking he will just win in this trade he ignores the risk involving this greed. What will happen when he will loose a lot of amount due to his high risk trading . Obviously he will blow up his account.
Yes greed is effecting my trading a lot. I try a lot to control this greed factor but its a great hurdle to my trading. I do make good money but then I lose most part of my profit because of greed.
Greed and fear are the two main emotions affecting everyone’s trading, I think. Frankly, I am not sure which one of them is harder to control.
I personally think as a beginner we are more in fear we loose due to fear mostly . If we get some profit then greed comes to our trading . Both emotions are difficult to control and manage.
I would say that most traders try to keep open transaction with a profit a bit longer, even when income begins to fade. They hope that will be even greater. So the first piece of advice: Set a concrete goal, and do not change them.
Traders often try to quickly return the money after a loss and mindlessly opened a lot of transactions. Advice №2: Stick to your strategy and trading plan.
Sticking to your strategy is the best way to combat both fear and greed, since both can make you act irrationally while your strategey is a rational, logical plan of action. In other words, it’s best to make trading decisions without emotions if and when possible.
Yes, sometimes emotions become the main enemy of the trader. To learn how to control them is written a lot of books.
[QUOTE=“Exness Support;628968”]Greed is often the reason of failure in trading. People make unrealistic expectations of profit and and take high risk which they cant afford to. When those risks backfire many blast their accounts and loose all their investment. Please share your experince about encounter with Greed in trading[/QUOTE]
It’s no longer greed at this point. Let’s face it, you’re not getting rich in the next month to 36.
I look at this as a job where I need to go to work. Get my pips and leave.