Discipline Can Conquer Greediness?

[Hendadda]

We need to be focused on self-discipline, this is especially important for traders who get really excited about anything. You need to learn how to control emotions and do not let them influence your strategy and methodology. Everyone should learn how to deal with it.

 

[Hendadda]

Overtrading is very dangerous, for both new traders and experienced traders. Overtrading is usually as a result of greed and a big ego. According to trading psychology, it is wise for traders to know how to rightly control emotions and know when to trade and when not to. Risking too much and trading more than 20% of your capital in a single trade is suicide.

 

[alina.marabar]

all options contain the consequences. Likewise with forex.

 

[anna.serea]

which is more important between win/loss rate or risk/reward ratio?

 

[Luke Hansen]

control the negative emotions

We all need to take proper control of our negative emotions here. All things can be learnt through knowledge acquisition process but the control of sentiments can’t be learnt here. Such as we all know that greed is dangerous but no one can teach you not to become a greedy trader. Rather, traders need to control the over excessive greed here so that they can make decisions proportionally as per real market situations.

 

[Hendadda]

Emotions and trade never mix, if you want to be successful. Greed, for example, is the reason for most traders' failures. If you happen to be greedy, you can overtrade the market and end up losing since chances are that you'll make terrible decisions

 

[Electric Rainbow]

Actually we have to control our emotions and feelings during trading because it can be harmful if work emotionally in Forex. We can take any wrong or hurry move in trading and it can be dangerous for money.

 

[robert.miner]

Emotion of trading can be ruled out when we make a decision to open a sell or buy position. Without anxiety, we can achieve profit consistently.

 

[Hulas]

Overrtrading the market is a very dangerous thing in forex trading, in fact, it is more like trading suicide. It is as a result of a big ego and greed, which makes a trader want to risk more than he or she can afford to lose, or trade even when the conditions are not favorable

 

[Jurlare]

Traders who are beginners don’t have idea about all emotions that are on Forex market. It is also part of learning process of how to recognise all these negative emotions properly and put them under control, eventually to avoid them, as they can have negative impact on trading