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Greed in forex trading.


Gee Dee

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those two green and fear are the worst, worst combo, perfect disaster formula. and there are times no matter how long u have been trading that u cant avoid them, take experience, 10 years trading on hotforex i still get anxious really with sudden market movements, but guess what just stick to the plan thats it. 

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8 hours ago, James Mcgrant said:

Why should you never trade in forex with greed, and how can it blow up your trading profits?

Because forex is much similar to any other business where we make money using our own money so we should exit the market upon getting reasonable profits but when we become greedy we might not be able to lock the confirm profits and wait for more but what if the market odds turned against us, we will eventually unable to realise those profits but can lose our own money involved in trading.

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Financial markets are often driven by fear and greed. This is an oversimplification, but fear and greed do play an important role in the psychology of trading. Understanding when to embrace or tame these emotions could mean the difference between a successful trade and a short-lived trading career.

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Fear and greed are common among traders, and they can be quite damaging if they are not managed properly. Often, fear is characterized by a reluctance to enter a trade or prematurely closing a winning trade. A trader who is greedy will add more capital to winning trades or over-leverage in order to profit from small movements in the market. 

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Greed is a powerful enemy of profit. The forex market is highly profitable. We can earn a lot of money here. The majority of new traders cannot control their greediness and trade more and more for huge profits. We need to protect our capital and trade for money carefully without being greedy. 

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