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  1. #1
    Super Moderator
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    Greed VS your trading discipline!

    According to my three years trading experience I have noticed that, greed is the most harmful emotion for traders especially for new Forex traders! Honesty, greed is not appropriate term of trading because, Forex is the most sensitive profession where your every single decision is very important!

    I see, knowledgeable Forex traders are mainly defensive trader while most of the novice traders are aggressive! They use over trading lot as they wanna make huge money within a very short time! On the other hand, if you want to be a consistent player here, you should be a self-disciplined Forex trader!

  2. Thanks Jillur Rahman thanked for this post
  3. #2
    Trader
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    You are absolutely right! Which traders are not knowledgeable enough, they are mainly trying to make huge money by using this short cut way! But it also true, smart traders can use high risk ratio comfortably as they can predict the market perfectly! So, I think using high risk is not bad actually for expert trader! In addition, it is how you go by your trading that will determine what will happen in there!

  4. #3
    Senior Trader
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    Absolutely, every Forex trader should keep in mind that Forex trading is not money machine where you can be the millionaire instantly! Truly, it is a pure business where anyone can get the responsible profit! That’s way, traders need to control their greed during their trading sessions and they should trade with enough patience! You can lose your full trading balance in a time if you don’t control your greed!

  5. #4
    Senior Trader
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    Unfortunately, I was unable to control my greed and I crashed my trading capital for 5 times because of using over lot size! By the way, now I am not handling my live trading account manually, and I use an automatic trading service! Yes, manual trading is not perfect for me; yes I have a good trading system, but I can’t execute it on the right way because of my greed!

  6. #5
    Senior Trader
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    Now I am very serious on greed issue! Because, I have already lost my trading capital for 3 times because of greed! Basically right now I am take caring by following my trading targets so honestly! Such as, now I don’t open any more trade position when I get my daily trading target, same strategy for weekly as well as for monthly target!

  7. #6
    Senior Trader
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    When I was a new Forex trader, then I thought; Forex is a very easy way of money making! Then I used high trading lots size according to my greed! By the way, now I know the reality of Forex trading business! There is no way, without enough technical and fundamental knowledge! Greedy Forex traders loss their all money end of the day, because they don’t follow money management rules!

 

 

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