Сontrol your greed and earn money on ForexJohannes Röll 19 / April / 20 Visitors: 93
It is common for each of us to hide our weaknesses or suppress them in an attempt to fight. If this is feasible in everyday life, during the trade all our "cockroaches" will simultaneously climb out and cause financial losses.
The sooner you deal with yourself and find out what your strength is, and the weakness - the faster trading on Forex will begin to bring profit.
Greed is always bad?
Greed is one of the driving forces of the person trading in the currency market. But here it is necessary to understand whether it manipulates you, or you use it for your own purposes.
Greed that clouds reason will make you bankrupt in a matter of days. After all in such a case you go on the occasion of your emotions, the head stops working, and all your actions are dictated not by the brain, but only by a blind gambling desire to break the big cough (exactly this condition can be noted in the person playing in the Casino).
If you realize that Forex is a place where people EARN money, not win it, relying on luck, and your greed only pushes you to develop to eventually earn more - you are fine.
Types of motivations on Forex
There are two types of motivation in the currency market: rational and irrational.
The first type is typical of a rookie who has only stepped on the trading road, and of a professional who has been on the market for a long time.
The second type of motivation is gambling. It, like greed, can be typical of any person. Some can control it, others can 't.
If you are a gambling person, and this quality runs you - to become a successful trader - it is necessary to fight it. The best practical method is to draw up a trade plan. Clear trading rules, which describe your actions based on the situation, will avoid making hasty, reckless decisions against the background of excitement.
We sum up the results
Fear created during trading can paralyze an inexperienced trader, deprive him of the opportunity to think, analyze and make correct decisions, which causes him to suffer serious losses.
In order not to make mistakes that will lead to ruin - learn to control your emotions, your fear, and greed.
Of course, no one says you need to be an emotional robot. But you can learn to use your emotions to the benefit of yourself.
Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer