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    Thread: What is the remedy for greed in the forex market?

    1. #11
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      Actually we can suppress the nature of our greed in the forex business, if we train ourselves to be able to control our greedy nature of course slowly we will be able to become a successful trader who discipline. The main thing that needs to be done is to use a way to reduce the size of leverage. The smaller will be more useful for us to suppress the greedy nature when we will open a position in the forex market, so the lot size that we will use will be limited. The next step is to tighten the risk management we have made, this is a practical way to further suppress our natural greedy nature as human beings.


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    3. #12
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      Default Remedy for greed

      Quote Originally Posted by fanatic View Post
      Greed has led many trading accounts in the forex market to their untimely grave. Our trading accounts needs to survive before we can achieve success. What is the remedy for greed in the forex market?
      Forex trading covers three different areas which are technical analysis, fundamental analysis and the psychology of trading. All these areas pose different challenges which need to be handled effectively. From experience however, one of the greatest challenges of forex has been known to be the ability to control greed and emotions.
      This can be handled effectively; a trader needs to cultivate the habit of keeping a trading journal where all the trading activities are recorded in terms of strategies, lot size, time frame and so on and so forth. With these he should always do the evaluation and reevaluation of the successes and failures whereby there would be recommendations on the way forward.
      To control the greed effectively the trader has to be determined to stick to what is in the journal to the letter


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    5. #13
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      If you ask me I would say that there is no instant remedy for the greed in trading the forex market. When we start trading being naive we posses no idea about how to size our position nor do we have any idea about the money management but as soon we start losing our valuable money by trading in this process we start to understand that why we ware losing and what we need to adjust. Trading with big lot and big risk won't give you a longer chance to stay in the market it will wipe you out from the market but here is what can happen if you are trading with a proper money management and this benefit will surely help us to stay away from being greedy while trading.
      • Following proper money mangement will help you to stay long time in the market.
      • It will enable you to integrate with your strategy and understand the pros and cons of it.
      • If your loss streak is greater it won't be a big drawdown.
      • You will get margin call never or rarely.
      • Your capital will be protected that's the most crucial part in trading forex market.

      So we have seen that the opportunity cost of being greedy is very much high and that's why we shouldn't be greedy rather following a proper money management will help us in diverse way and can also make us successful not immediately but definitely one day!
      Yesterday's wins and losses are yesterday's wins and losses -- and the yesterdays are gone


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    7. #14
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      Greed is a very big problem any forex trader can have. Greediness is extremely dangerous to our trading account.
      Before we can find remedy for greed I think we first need to understand what cause greed to every trader.
      The only reason I think trader are greedy in the forex trading market is the when they have an unrealistic target as their goals and this will push trader to wanna make big profit in a short period of time.

      What can we do to stop greed?
      First is to be knowledgeable trader : whereby having lot of experience on the market.

      Discipline : is think this covers every other area, once we are Discipline, I think such trader will be able to perform every other task, like sticking to a good money/risk management and fear etc


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    9. #15
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      Now a days every forex trader will know the definition of greed who will spend time in this market, when a trader will come new in this business they have a lots of dream and they will try to makes then true in couple of days which is not possible and they will start gambling and show greed with their invested capital and in a few days their capital will loss and account will be finished. Traders who will know well this business and try to manage it they will trade very carefully and try to stay long term in forex which will totaly need to removed greed from their forex business will have no ending so keep join daily live market and ry to earn some profit never think about big in small time it will kill you account and have no future with forex business.


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    11. #16
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      I think there are many remedies & money management/risk management is major remedy among them to control greed. Use not only take profit but also the stop loss. Many traders use take profit only & ignore the stop loss which is very dangerous & irresponsible step for a trader. You should also promise yourself to earn a consistent fixed amount of profit & don't try to gain more from your prefixed. If you don't fix your daily pip earning, it will lead to desire more pips in a day at a time which raises greed.
      Always remember that greed is like a virus. Once installed, it will grow bigger & bigger no matter how small was it at the beginning & if you don't take proper remedy it will erase all balance from your account.


    12. #17
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      Greed is a human nature and it is also a part of us. How to cure greed is by controlling the greed itself. Greed can not be eliminated but if you can train your psychology then you will be easy to control greed.

      Remedy for greed in the trade then you need to make some targets for your profit. Indeed is difficult to get used to the target because human nature is greedy so you will feel dissatisfied with the results achieved. Need to think realistically to be able to remedy greed in the trade, as long as you can not think realistically then greed will only continue to control your desires. You should also understand the meaning of patience if you want to remedy greed in trading. The point to remedy greed is within us so we also need to understand our own weaknesses.
      don't use Luck in the trade but it would be better to use Greed
      hoping for something without hard work will not give anything

      dedy hari kurniawan's trading journal


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    14. #18
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      The remedy of controlling greed depends upon you only because as we are Human being ,greed always will give its presense in our life and Forex business we know that deals with the real money, for that its very much natural that traders always wants more money earning in a short span and for that they are dominated with the greed factor but until and unless we can have proper control ,we can't make any mark on this business.

      To dominate over greed ,traders have to target a realistic pips profit,they have to develop a proper positive trading plan and good strategy ,they should learn the discipline so that they can avoid the overtrading ,patience should be grown inside their trading .Its hard to get those thing in a day but we have to trade with experience and should wait for the right time to be with the trend always .


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