Yes, I very agree with u, we as a human we r greedy of money. For mi my thinking that the best way for new trader to really start trading on real account is beside they must know the market well, inclusive of price action n strategy. Then when trading, open a micro account. Put a default unit like example always only trade 100unit. Until he is confident of about 100 trade hitting rate more than 80% slowly increasing the unit to 150unit. Slowly when nx he increased to 200…but…If he start to feel fear n heart start to jump when he losing pips. Jump back to 150 unit. It means he still not ready to add in more unit. This may be able to help him control his emotions as not to revenge trading of losing pips.
Well, I seem a specific trading plan is very effective in this case! Like, if you don’t allow your instant decisions and follow your trading plan so honestly, then of course you’ll not face any unexpected result! And yes, money management is also an important part of my trading plan! Thus I handle my emotions and greed in my trading!
The best way to control your greed is thinking about all the money you could lose if you get too greedy and you don’t follow your trading plan.
A written trading plan, reviewed each day, is a great way to avoid distractions as is a trading journal.
Hahaha if u know what u doing, sometimes hv emotions in trading is ok. But not advisable to new trader. I do hv emotions sometimes to b Frank. Expecally when see the price hv sudden jump. I know whenever it hv sudden jump the price will definitely pull back. So I will place the trade on top of the jump n when pull back I close the trade. As I was scalper, so I trade base on individual candle. I don’t trust what formation of the candle.