Forex trading is more about management and applicability. For instance if you invested a small amount of money on that trade and you got a good amount of profit, then there are chances that you will unconsciously fall into the greed trap. So before that make sure you have a good control on your emotions and you know the legit way to make profit out of this forex market.
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The best way to control unconscious greed is to use strict risk management strategies consciously.
Greed is the worst nature a person belongs to. Greed destroys everything and a greedy man is never satisfied with things he has. A Forex trader must be devoid of this bad practice because this quality inspire and instigates a person to over trading and revenge trading.
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Its important to understand a problem in order to identify the correct remedies. Greed is not the dominant emotion to be controlled by traders. In fact greed is a behaviour, its a response to an emotion - fear. Fear is the emotion to be controlled. Measures to control greed will not be highly effective because they do not confront the true problem directly, they only offer a massage to the symptoms.
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This. Your job now is to forward test at least as long a period of time as you back tested to get a broader range of data.
Demo as much as time allows you and use strict money management you can and will do it 
Traders should not allow greed to overpower them. This can hamper and resist traders from making rational and logical trading decisions based on facts and figures.
Greed brings you nothing but losses. This is why you need to restrict your feelings of greed and be patient in order to trade successfully.
Every person is psychologically-driven. So, handling one’s psychology is the big issue. Greed is such a worst human quality that inspires a trader to take more and more risk in the expectation of earning more profit. But, it doesn’t happen actually. And traders should come out of this bad trait as soon as possible.
Unconscious greed is the worst form of human nature that keeps a trader staying in the boundary of losses. Keep your patience level stable whatever happens because if you get nervous, you cannot survive in Forex trading. Try to utilize the opportunities provided by your broker and enhance your knowledge as much as possible.
It may be possible that many times we may have greed but we will need to learn how to control it.
I can see where you are coming from. It is quite natural for traders to think about the “what if’ scenarios once they get a win of a small amount. But you better let it pass and wait for the right time. Once you gather enough experience and reach a stage where you can handle that much risk you can take that chance. However, you should still have a funding plan to back you up in case your dream scenario doesn’t align with the reality.
Greed is a human feeling that we all experience. In trading, it has proven to be an obstacle in the lives of traders. Greed will only result in losses. This is why, in order to trade well, you must control your greed and be patient.
Greed is the worst side of human nature, so anyone who is prone to it should try to transform this trait, or else they will lose their money.the Forex market. In fact,the most common reason for a trader’s loss is greed. While in the forex market, one must set aside their emotions and should approach trading with a practical perspective.
Fear is the only emotion with any power in trading. Greed is a behaviour driven by fear, but its not an emotion.
Fear of failure and loss drives traders to -
- take excessive risk per trade
- seek short-term positions with dramatic opportunities, like reversals
- use high leverage
- deposit inadequate funds
- avoid holding overnight or across weekends
- avoid running or pyramiding winning positions
- avoid closing losing positions
- seek massive capital returns in their first year in case they can’t do tit again next year, or the “market changes” or their strategy “stops working” or some such fantasy
Greed has the ability to destroy your trading journey. When I first began my trip, I began to make profits and became greedy, which led to massive losses, so the lesson I learned is to remain cool while trading.
Unconscious greed harms a trader in many ways. Forex devours traders’ funds without even thinking. To save traders, traders have to think about it. They must be out of such greed as they know this nature inspires them to take risk more and more.
It’s tough to argue with you on this matter. I am also convinced that there is nothing good in greediness. Especially, when we are talking about trading. You know, trading doesn’t like greed and money also doesn’t like greedy people. They just don’t understand that their greed will always lead to one and the only result - loss. Sometimes, we can lose money, but sometimes greedy people lose everything, not even money, even their health.
Guess that traders have to bring this idea into mass, because they know a lot about greediness and how it affects people’s minds. Hopefully, people would start understand that if they are greedy, then they have to work a lot in order to get rid of any idea being greedy.
Avoiding greed is something that is easy to say but harder to apply. Greed is one of the human nature so it can be very hard to control, especially for new traders. The best way is building a strict discipline and stick to your absolute plan which is why new trader should move to live trading asap even with small capital to experience what it feel like trading with real money.
Greed in forex for the long term leads definitely to poverty, there is nothing to think about. In the short term, yes, under a lucky set of circumstances it may be possible to get a trader’s fortune, but later the trader will sell out and probably even a larger amount.
The euphoria does its job. As soon as something begins to work, the hand reaches out to overstate the lot in the next transaction to make even more money. I’ve been through this before, but nothing good came out of it. The conclusions were drawn.
Greed is a small shaggy beast with big teeth. If you feed it all the time, it can grow to enormous proportions. That’s why you have to try to keep it on a starvation diet.