Quote from: RealMalatesta on August 08, 2019, 03:13:32 PM

Quote from: katerina5643 on August 06, 2019, 12:34:03 PM

The most important advice for newbie trader is don't be Greedy.
You should take into account all the possible risks and don't allow yourself to trade with such amount of money that you can't afford to lose.
As i read on Monfex "To start with, you should first set some conditions for your trades, based on your trading style. These conditions should inform when you go long or go short, when you enter or exit positions and what technical indicators inform your decisions. The more specific your conditions are, the easier it will be to not only follow through and implement your trading plan, but also to gauge and evaluate its effectiveness moving forward."

Like they will hear, eve professional traders when it comes to greed are still guilty of this, just that the level of their own greed is not as much as that of newbies, no matter how much you shout it loud, greed cannot naturally leave traders just by hearing, except they practice it, it backfires for them, and then they learn from their mistake, that is when they too can understand what greed is all about and how bad it can destroy a trade when applied to it.

Anyway, the little advice you have here is way to go for those that would listen, because this is one of the things that is needed to out in place for any trader to really be successful in their trading. Trading is really not as difficult as many people think, it is just the inability to manage the risk in it that makes it look quite too difficult.

My personal rule in trading is don't be too greedy because it can minimize your ptofit! The best option is to do market research and calculate the best time for enter and exit point.