Greed, as the main cause of loss

[mlawson71]

What advice would you give to help traders combat their greed? It's one thing to say it's a problem - I think we all know that - but how does one deal with it?

 

[Daantje Pieters]

Greed destroys the trading career. Success is never achieved by trading with greed and fear. You can start over-trading to earn extra money by greed. It is extremely risky. If a trader does not plan and trade, he will never be able to make a profit. Plan trading is very important. If you don't trade with a plan, you can lose a lot. So you should always plan and trade with patience.

 

[Sheldon.D]

As a beginner should i trade with higher leverage, would that make me greedy ?

 

[jingo21]

Thanks For this thread. specially im new on forex Trading it helps alot.

 

[Charles Agustin]

Greed is the main cause of loss in forex trading. Greed is common in trading, it’s a human nature. However, trader have to control their greed in trading otherwise they won’t follow their plan and make mistake which cost them money. No one want to loss money. So, try too control your emotion in trading. I started trading in Eurotrader with small capital. It helps to control my greed.

 

[Naviystiles]

It is through cause have really lost lots of money on this