I think greed in trading is much much bad so greed is very harmful to all traders.I also think it is big reason of our loss in trading and it can give us a big loss.
Trade2Win has 33 different vice presidents each earning over 200 thousand dollars a year. Now I have spent the last two months analysing what all these guys do, and I still can't figure it out!
Where did you find this out?
Who are they?
Truly interesting.
Have you tried just asking them?
Been a while since you saw it last then...
Gordon Gekko "Greed is Good" Full Speech *read the description* - YouTube
Been a while since you saw it last then...
Gordon Gekko "Greed is Good" Full Speech *read the description* - YouTube
FACEPLAM moment.
FACEPLAM moment.
Soon as I read that bit, the scene and voice was in my head.
Seen them both pretty recently though, photographic memory
Great Thanks for informing me that Trade2Winhas 33 different vice presidents and they are earning a lot in forex.
Greed ...
Assuming that you agree, not knowing which way the market price action really goes, depending on fundamental news, economic data and interpreting those, spikes caused by technical or other mistakes, central bank behavior, greed is a bad thing. Each move retraces and if you are able to replace greed by a logical based plan to realize your profit, having a sustainable edge, you're at the highest level.
Assuming that you agree, not knowing which way the market price action really goes, depending on fundamental news, economic data and interpreting those, spikes caused by technical or other mistakes, central bank behavior, greed is a bad thing. Each move retraces and if you are able to replace greed by a logical based plan to realize your profit, having a sustainable edge, you're at the highest level.
The line is located exactly, where you have no plan except "let winners run". Depending on the timeframe, you're trading, price never will move without retracing. And sometimes a retrace will be start of a reversal.
So your plan always has to have a headline like R/R. It's "only" to decide (the most hard part for sure), which instruments yoi'll use to secure your profit, i.e. fixed trailing stops, fibonacci and/or pivot lines etc.
Greed is an emotion out of control which can influence your trading badly. Find or create yourself a strategy and stick to its rules (and money management) to get over emotions (including greed) during trading.
