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    Standard Member Array dimas.rangga's Avatar
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    How to control our greedy while on good market condition??

    Emotional and greedy is part of our problems while trade in forex. Most of traders couldn't control it and they face loses in trade. Sometimes, we can handle this greedy but it can persuade our self being greedy. So, how the best way to control our greedy while on good market condition??

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    It's funny how new traders believe greed is a bad thing. If you are trading and in a winning trend that continues in your favor, you are using greed to stay in that trade ..which is a GOOD THING. You can't say to yourself that since you feel greedy, you need to exit that good trade. Let's lose that misconception people... greed is a good thing too in a good trade going in your direction.

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    Silver Member Array traderx4's Avatar
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    The reason most are greedy is because they have'nt planned out their trade BEFORE they actually enter, so they have NO clue where the price is heading.
    There are ways of knowing before hand where price may take a short break etc.
    "Remember, 15-20 pips a day can make you very wealthy in this game."
    No need to sit at your machine all day trying to squeeze out pips when the market just dont want to give up anymore, especially when the ADR on most pairs (as I type this) are at their all time low.
    Last edited by traderx4; 08-31-2014 at 05:59 AM. Reason: Spelling Mistake

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    Quote Originally Posted by traderx4 View Post
    "Remember, 15-20 pips a day can make you very wealthy in this game."
    .
    I'm posting this in bold lettering because this is the key to trading. You don't need 100-1,000 pips to become wealthy, with the right trade that you feel confident in making, trade larger lot sizes and you will become very successful as a trader.

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    Diamond Member Array alventa's Avatar
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    Quote Originally Posted by FloridaTrader View Post
    I'm posting this in bold lettering because this is the key to trading. You don't need 100-1,000 pips to become wealthy, with the right trade that you feel confident in making, trade larger lot sizes and you will become very successful as a trader.
    The traders need to confident in their transactions making. But, the traders should avoid the greedy. I think for beginners need to learn in long time about trading psychology.

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    The best way to control greed in forex trading is to know when its time to exit the market. Before you start trading each day, set a goal for yourself.
    For instance, I may set a goal to leave the market once I make a 5 pips profit. This way I know that immediately I achieve that
    I have no business staying over in the market unless am prepared to take a bigger risk.

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    If the market conditions are good , then you have to cash in , there is a difference between being greedy and earning in a favourable condition.

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    Quote Originally Posted by dimas.rangga View Post
    Emotional and greedy is part of our problems while trade in forex. Most of traders couldn't control it and they face loses in trade. Sometimes, we can handle this greedy but it can persuade our self being greedy. So, how the best way to control our greedy while on good market condition??
    first of all.. how you define 'good market condition' ??
    if i have an exact method to define this one, i would gladly to greedy all the time, besides the market condition are too good to slipped. and i always made more gain, of well define good market condition.

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    There is always this temptation for most traders to stay in the market if the market condition is god in order to grab all the much profits he or she can. The only way to control this is to have the discipline to follow your trading plan through and leave the market once you have reached your targeted number of pips.

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    being greedy is not bad, but taking that greed to a level where you cannot decide or make decisions properly, has to be avoided.

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