April 28, 2024

Should a trader be greedy?

Here is a curious quote from the movie "Wall Street"
“Greed is, for lack of a better word, a good thing. Greed- it is right. She works.Greed clarifies and clarifies, it passes through all barriers and carries the essence of the evolutionary spirit. Greed in all its forms - greed for life, money, love, knowledge - determines the progress of humanity. "

And I agree with her completely, for over the yearsForex trading, I realized that a trader must be greedy and greedy in order to take solid profits. It often happens that a trader takes a small profit, and then the price moves in his direction for the same amount, or even more. And the lack of this profit in the end bears bad results. For example, if you once did not make a profit, then the deposit can be drastically sagged from a series of stop-losses. Whereas if the trader took all the profits to the end, then the deposit would be filled with profits to the brim, creating the necessary safety cushion for finance.
Let's look at the screenshot.

Should a trader be greedy?

There was a good entry into the long, but I got scared and closedearly profit and after 12 days the price reached 1778 pips. That is, we wasted 12 days. And if the trader were greedy and strived for maximum profit, then he would take this profit and, who knows, maybe even more in the future.

In general, if there is an entry point, then it shouldimply a profit of 1000-2000 for currencies and 2000-5000 pips for gold. You have to be greedy to take such profits, and not scanty 500-1000 pips, or even less.