Greed and fear will make forex trading lose. Because trading in forex will be related to the moment and psychology which will affect the style and trade plan that will be carried out by a trader. In the market, price movements will affect the habits / styles carried out by traders, so that it will affect the final results of trading. Be it profit or loss.

Not a few traders fail in their trading activities. Not only beginner traders, failure also sometimes comes to traders who have been involved in the market for a long time. Most of them are trapped in failure not because of the wild price movements in the market. Ironically, this failure is caused by a lack of self-control and emotions (psychology).

Instead of realizing mistakes, and evaluating and learning from the mistakes made, some of them tend to scapegoat forex trading as a bad business. It must be admitted that the most difficult part of trading is in terms of psychology. If you ask those who have been involved in real trading, they will most likely say the same thing.

Fear and greed are factors or traits among many emotions that can affect your trading patterns. Every trader must have experienced both in their own intensity and time. Greed tends to approach traders who always want to make a quick profit, thus ignoring Money Management.

While traders who are too careful will be dominated by fear. Both fear of entering a position so that they will miss a good moment in the market. Or fear of liquidating / closing a losing position, with the hope that the price movement will be in accordance with its position in the market. It is mandatory to be aware of fear and greed will affect defeat in forex trading. Here are some attitudes that can overcome fear and greed when trading forex:

Setting Rational Goals

The goals in a trading plan also play a role in the profits you can achieve. At least that's what is found in almost every biography of successful traders. The goals you make can be used as a guideline and guide you so that you don't get off track.

According to psychology, a person can work effectively when they have goals and understand those goals. In making goals in forex trading, you should make goals that are as realistic as possible according to your abilities. Don't be too dreamy or too self-deprecating. In addition to profit goals, you should also make a wise stop loss plan.

Be Objective

It is important to observe the market objectively, that is, to accept input and consider it. Some of the characteristics of objective traders written in Mark Douglas' book "The Disciplined Trader" include: focusing on price movements, analyzing the market with the perspective of an observer / expert, always being confident, not feeling rejected, not feeling pressured, not feeling afraid, and believing there is no right and wrong.

Avoid Revenge Trading

What is Revenge Trading? This is a trading activity based on the purpose of 'revenge'. For example, you experience a fairly large loss, and return to trading to pay for the loss. This way of trading is very bad, because you are clearly being controlled by emotions. Good trading is trading that is done with a cool head.

Quote: Remember! It is not you who is controlled by emotions, but you who control them.

That's a little attitude that you can do in being aware of fear and greed will cause losses in forex trading. Greetings trading Hopefully useful.

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