PSYCHOLOGY TRADING : THE GREED
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Thread: PSYCHOLOGY TRADING : THE GREED

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    Cool PSYCHOLOGY TRADING : THE GREED

    The greed is the first sickness come over trader want to get profit in forex trading. I think all people in this world has the same sloping to want more when people once get the money. Please try to do such simple imagination through forex trading, you can get profit 500USD in a month just in a few hours. I think this profit is fantastic! Please compare it with other employee in the company, the employee get the 500USD in a month. And employee must spend the 8 hours a day to go to work. And you can get over 500USD just in few hours. Because in daily, the currency is moving about 50-100 points. Is that amazing?

    The newbie trader ever enjoy these profit, of course newbie trader want more profit again. If newbie trader can get 1000USD a day, why not? In this stage, the sickness of psychology in trading come. Wanting more without consideration in logical and accurate calculation about the capital, market condition, and the risk. The activity trading without calculation is being called The GREED.

    Newbie trader is being trapped by the bad mentality after newbie get the first profit 500USD. And they think they can repeat the opening order without reconsideration and recalculation about risk, loss, and the market condition. When trader doing that, the logical thinking of trader is now off. Their mind is full by emotion to get bigger profit. It makes them to enter new position without understand the market condition. It can be the change market condition with previous one.

    I have heard may case about the greed from internet article. They, newbie success to get profit in the several days trading. They even got about 70% profit, and in the next day they re-deposit because get margin call stop out. If we look the profit 70% in business perception, about 70% profit is very big return. And traditional business cannot ever get those return even in a month managing business.

    You must understand here, the greed does not mean to limit your profit. It does not! It is very natural you can get about 500USD a month after you get the first 500USD if the market condition allow to. It means there are exact reason makes you to open new position when based on the technical analysis and fundamental analysis are allowing you to do more trade. So the greed means, when trader want to get more, but trader do not find the exact reason to get more or the market condition is not allow to.

    So, how do you we prevent our self to not be greedy in trading?
    I have several tips for you, and of course you can add your favorite’s tips in my thread.
    Here is my simple tips.

    1. I have to stick to my trading system. My trading system is not allowing me to monitored chart too much time. So I must obey this

    2. I must realize, all the pair currency provide all the moving. And not all market moves generate profit for me

    3. I had to set target in my daily trading. It prevent me to get greedy

    4. I had to forget my daily profit when I get sleep. I ever dream I have luxurious life because I get too much think my profit.

    Okay, these all is tips by me to prevent the more greedy stage in trading. Do you have another tips, or agree with my tips. Please share your thought!

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    Hello dear. The greed in forex trading is very real. The greed can come to each trader who want to get the more profit. When trader can get profit 1000USD a day, why not trader want to get more over it. WHy not getting about 2000USD a day? Hehehehehehe. You as trader are freel to gain much much more profit in forex trading dear

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    Quote Originally Posted by aris90 View Post
    Hello dear. The greed in forex trading is very real. The greed can come to each trader who want to get the more profit. When trader can get profit 1000USD a day, why not trader want to get more over it. WHy not getting about 2000USD a day? Hehehehehehe. You as trader are freel to gain much much more profit in forex trading dear
    Hehehe yes I also faced this problem many time in forex trading market. In past I always tried to make a lot of money and our greed not help us to obey forex trading rules too during trading. We always break important forex trading rules and our greed make us looser all the time in the market. Its a real truth that our greed can't help us to earn consistently

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    Quote Originally Posted by Khimi234 View Post
    Hehehe yes I also faced this problem many time in forex trading market. In past I always tried to make a lot of money and our greed not help us to obey forex trading rules too during trading. We always break important forex trading rules and our greed make us looser all the time in the market. Its a real truth that our greed can't help us to earn consistently
    Yes dear. I also doing the same. This month is the month that I finally realize that my trading history shows, there are too may order I sent to the market and get me big lot in each trade, this make me to be more being thought by the position because of too many lot I use in this forex trading. Because to much lot I use in forex trading, I got too many break the rule.

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    the first mistake came to us when we entered this business and thought that forex trading is the money machine, then we can make big money in a short time without think to trade properly. then it pushed us to trade with big risk without enough knowledge and how to recover some problems in front of us, and at last, after several times we did the same thing , it becomes the bad habit and planted deeply in mind, GREED

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    Quote Originally Posted by Khimi234 View Post
    Hehehe yes I also faced this problem many time in forex trading market. In past I always tried to make a lot of money and our greed not help us to obey forex trading rules too during trading. We always break important forex trading rules and our greed make us looser all the time in the market. Its a real truth that our greed can't help us to earn consistently
    Lots of things are happening in this market that can bring other side of the trader over the time, we should still try to hold on to the right trading decisions. Forex traders are mostly working in the market because of earning, and true determination of the trader would make the earning come to the trader. The greed would come, but we should prepare for it and be disciplined to fight it.

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    [lang=id]
    Quote Originally Posted by aris90 View Post
    2. I must realize, all the pair currency provide all the moving. And not all market moves generate profit for me
    right, we can not make profit from all market movements, and maybe some of them just give us loses in hands, and at this side, we need to take a wise decision and think about it twice, we knew that the risk is there and we need to take the risk for making profit but we have to know how much the risk will be taken by us without let the emotion in there[/lang]

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    Quote Originally Posted by newentry View Post
    the first mistake came to us when we entered this business and thought that forex trading is the money machine, then we can make big money in a short time without think to trade properly. then it pushed us to trade with big risk without enough knowledge and how to recover some problems in front of us, and at last, after several times we did the same thing , it becomes the bad habit and planted deeply in mind, GREED
    Yes, dear. It happen to me in my first year I know about forex trading. I see the huge potential to create money in forex trading. It makes me want to get money quickly and large in forex trading, but the result is I lost the money because of the greed

    Quote Originally Posted by samprazaan View Post
    right, we can not make profit from all market movements, and maybe some of them just give us loses in hands, and at this side, we need to take a wise decision and think about it twice, we knew that the risk is there and we need to take the risk for making profit but we have to know how much the risk will be taken by us without let the emotion in there
    Just realize that sam, all pair in meta trader provide the moving of the market. but not all pair can generate the profit. We can determine to where market will make stop after trend and make reverse after it. We just can make a target point in our target daily, or monthly in forex trading

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    Quote Originally Posted by cozard007 View Post
    Lots of things are happening in this market that can bring other side of the trader over the time, we should still try to hold on to the right trading decisions. Forex traders are mostly working in the market because of earning, and true determination of the trader would make the earning come to the trader. The greed would come, but we should prepare for it and be disciplined to fight it.
    I need the unlimited earning in forex trading, so I join forex traderin dear. I need the determination and also passion in forex trading. But it sometimes make me be greedy in forex trading, the greedy does matter and does real in forex trading dear. I must control the greedy in forex trading becuse of forex trading is very random and tempt the emotional time by the time.

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    Quote Originally Posted by samprazaan View Post
    [lang=id]
    right, we can not make profit from all market movements, and maybe some of them just give us loses in hands, and at this side, we need to take a wise decision and think about it twice, we knew that the risk is there and we need to take the risk for making profit but we have to know how much the risk will be taken by us without let the emotion in there[/lang]
    yes, we can not always get a profit, but we can make an analysis in all market conditions. we know the type of price action is bullish, bearish and sideway. there are only three types of market movements. but we must be patient and sometimes do not enter the market, sometimes we just wait and see. most importantly, traders should use risk management in all market conditions

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