Huge profit can create greed

Discussion in 'General Forex Discussion' started by Ovidio Lettiere, Dec 24, 2020.

  1. Ovidio Lettiere

    Ovidio Lettiere ECZ Member

    Joined:
    Aug 28, 2020
    Posts:
    153
    Likes Received:
    5
    All traders indeed come to the market to make money. However, making a huge profit can make you greedy which is a bad emotion for a trader. Greed can consume your proper trading plan and strategy. It can hamper your trading decision. So, it is important to control your emotion in trading. That’s why I am trading with a small investment in Eurotrader to learn about my emotion.
     
  2. Amy Lempriere

    Amy Lempriere ECZ Member

    Joined:
    Jul 23, 2020
    Posts:
    162
    Likes Received:
    0
    It is never possible to gain profit by doing emotional trading. When a trader makes extra profit he becomes overconfident and greed works in him and from this greed he starts trading by increasing the lot in the hope of making more profit. The result is a loss. And it takes him a long time to cover this loss. So every trader should work by maintaining risk.
     
  3. John Bryce

    John Bryce ECZ Member

    Joined:
    Jul 24, 2015
    Posts:
    495
    Likes Received:
    7
    In a business like Forex, you can make unlimited profits IF you manage to plan it right and execute well. But if not then it’s equally damaging. However, I am able to manage it well with FreshForex given they have superb setup to help greatly. With their 101% Tradable Deposit Bonus, it brings great comfort and confidence in how one trade and allows to function perfectly.

    [​IMG]
     
  4. PinkSugar

    PinkSugar ECZ Member

    Joined:
    Apr 11, 2016
    Posts:
    566
    Likes Received:
    1
    One emotion motivates people to trade, which is greed – The Worst Enemy in Forex Trading. Forex is quite attractive for many people because of its potential to make a good profit and the ability to be your own boss. There is nothing wrong with being greedy. In fact, people won’t accomplish many things if there is no element of greed or no incentive is provided. But, you must be aware that this greed also backfires on you and can make things worse in Forex trading.