Greed Is The Most Dangerous Emotion For Trading

Discussion in 'Forex - Currencies Forums' started by Alex007, Mar 14, 2020.

  1. Alex007

    Alex007 Active Member

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    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.
     
  2. Chartman

    Chartman Senior Investor

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    I used to suffer from greed when trading in my early days most because I became a little too attached to my investments and had my favourites. I now think of my investments as empty boxes, I am just buying and selling empty boxes with nothing inside - hey presto, it works :)
     
  3. Linda Smith

    Linda Smith Senior Investor

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    One of the most important forex strategy is to think with your mind not with your heart. Emotion can put you in danger in forex market. Another strategy is to pick up a broker which gives a lot facilities in the trading. I use Tpglobalfx for their low spreads, dynamic leverage and quick customer service. They provide tight spreads starts from 0.01 pips. Their maximum leverage is 1:500. They give me 24X5 customer service. So, in my trading career they play an important role.
     
  4. gowiththeflow

    gowiththeflow Senior Investor

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    There are those who can deal on pure emotion due to their experience but these people are very few and very far between. Good old fashioned facts and figures are certainly a safer way to trade and DONT get attached to companies and have your favourites. It doesnt work!
     
  5. longtermbull

    longtermbull Administrator Staff Member

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    Fear and greed are the two emotions which dominate stock markets and other investment markets around the world. That is why when we come towards the end of the coronavirus problems we will likely see a huge sell-off as people panic sell. Just like an elastic band, when it hits rock bottom the markets will rebound strongly. Timing is everything in these markets.
     
  6. Buyonthedips

    Buyonthedips Senior Investor

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    Fear and greed drive markets but those with a level head and ability to look beyond the short term volatility of markets are the ones who will be successful in the longer term. Dealing on emotion is always very dangerous!
     
  7. Chartman

    Chartman Senior Investor

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    The fact that markets will always become oversold and overbought perfectly illustrates the idea of fear and greed. Timing is key for those looking to trade without emotion :)
     

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