Greed is the most dangerous

[Edward Peterson]

Greed is the most dangerous emotion for trading. Most of the traders lose money just because of this greed. And there are s trader who is mistaken greed as hope. Greed is when you have no trading plan. You trade all day long. After a profitable trade, you open another trade in the hope of making money. But we should control our greed if we want to stay in the market and make profit for long. I am trading with XeroMarkets broker that has over 77 trading instruments. You can choose your best from here.

 

[ryanb9690]

Act as a computer not human. Set SL and TP then go out. If you have get profit but the price still goes up, do not regret for low TP. If you regret, it will affect the next decisions, which may lead to your bigger loss. Never let emotions control you.

 

[k9898]

Lack of discipline will ruin a good strategy, but discipline won't make a bad strategy into a good one. Important to remember that.

 

[abdou.loco]

yes for sure controlling your emotion in trading is one of the keys to be a succesfull trader

 

[fxmuru]

Always prefer a peace environment and be mentally focused. trading emotionallly will not do any good.

 

[Sherverty]

Fear and greed are often identified as the main drivers of financial markets. This is clearly an oversimplification, however, fear and greed do play an important role in the psychology of trading. Understanding when to embrace or tame these emotions could prove to be the difference between a successful trade and a short-lived trading career.

 

[firehand]

trade what you see not what you think.. easy to say then make it.. need to keep practice. decision making like a robot without feelings

 

[Robert Hills]

Emotion can cause great problem in trading. Because taking decision emotionally can lead the trade into the loss. Technical decision is far better than emotional decision. I don't give importance to emotion while I trade. My broker TP Global FX is also help me to take decision technically. It prevents me from taking decision emotionally. I like them because of their low spreads, dynamic leverage and easy decision making tools.

 

[mlawson71]

I think that both greed and fear are dangerous. Greed, because it makes traders reckless, fear, because it makes traders too timid.

 

[hazlamiazrin]

Money management is the most important tools in trading

 

[Aliaamirali]

Ture, that how i blew 600$ right out the window. i was to greedy and then went to negativ

 

[noice]

Because of this, I think an algo that was properly setup and tested would have better results than someone executing the same trades.

There are caveats to this ofcoures.

 

[JosephGold]

You are right bro.. Greediness and money management are what is killing most people in forex trading.

 

[spliced27]

You should never enter a trade without a set take profit and stop loss. Once you enter you should never adjust them