Greed is harmful

[babushkafx]

Agree, greed has detrimental impact on trading. That's why I never overtrade with Hotforex and stick to my trading plan that limits number of trades in a day I can make irrespective of the profit I made.

[Lea]

Agree, greed has detrimental impact on trading. That's why I never overtrade with Hotforex and stick to my trading plan that limits number of trades in a day I can make irrespective of the profit I made.

True, the market is not running away, so we should learn to take things easy.

[Nich]

True, the market is not running away, so we should learn to take things easy.

Honestly it's easier said than done, but we got no choice apparently as we must learn to control the emotions.

[Lea]

Honestly it's easier said than done, but we got no choice apparently as we must learn to control the emotions.

Of course I can relate, but like you said we have no choice. It's either we discipline ourselves or loose money.

[Golden Sark]

Actually using demo account it’s very difficult to make sure brokers performance. But reviews on forums it is possible to ensure the brokers reputations.

[Lea]

Actually using demo account it’s very difficult to make sure brokers performance. But reviews on forums it is possible to ensure the brokers reputations.

Reason I tell people to always start live account with small funds just to test out their services while you are still learning.

[Nich]

Reason I tell people to always start live account with small funds just to test out their services while you are still learning.

Of course, in fact as you trade with little capital practice more on demo, before you try any strategy live make sure you try it out on demo.

[Lea]

Of course, in fact as you trade with little capital practice more on demo, before you try any strategy live make sure you try it out on demo.

Yeah, doing that always. I have learned the hard way.

[tjavxinhan23]

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[Nich]

Absolutely Correct! One must be aware of the risks involved in the Forex Market and they should also gain knowledge regarding how to manage the same. Controlling emotion is one of the key for risk control.

Yeah, you have to know what you are getting into before you start, else you will run out soon.