Trading Discussion People losing Money in Forex

[Mataracy]

Greed is a bad attitude which can easily disrriy someone's life if care is not taking.
Greed means not satisfy with the little or with what you have by still want to acquire more . And this can ruin the life of someone.
Though since people see that human want are unsatiable that is you can not be satisfy with what you have since human want is unlimited. Care should be taken so that one will not fall victims of the greed attitude.

 

[Jack Reacher]

Most of the traders lose money because of greed. There is no place for greed and fear in trading. Regardless, this trading regimen is not for the unassuming or leave heart. Lift hasty thoughts considers to a high-chance profile where plan is essential and particular organizing is a sure basic if a trading learner is to survive. I am trading both forex and Futures with Eurotrader broker. I like their instant trade execution.

 

[olubenson]

No matter how simple, slow or stupid someone is, one should know that greed kills in every sphere or business. In the forex trading business greed brings that death right from above. When you have an overwhelming desire for profits more than what the market has to offer at that particular moment, and still trying exercise more stress on your leverage, then you'll surely fall. You will surely wipe your account out maybe in a drastic manner or a gradual one. Stop having these excessive desire for too much profit. try to be ok with whatever profit you were able to make.

 

[Kabak95]

Greed is not good. It overrides emotions as well and one can do irrational things.

 

[Kabak95]

Greed is not good. It overrides emotions as well and one can do irrational things.

 

[greatguy1]

Quite a significant number of people have lost almost all their hard earn money to forex. Category of people who have lost their money to forex are numerous some of them lost it as a result of ignorance because they know nothing about the trade they only heard it's paying well and they invested their.
Some relied on false information or analysis or forecast and pick a trade wrongly.
Also, some fail not because they are inexperience but too much greed destroy everything they have earned. Many people want to make much profit even after making reasonable profits they still want to continue till the market falls suddenly and begins to go down rapidly before they could realised, all their investment is gone.

Trading is such complex in that what you term too much profit might just be where a trader sees a trade still going upwards and decide to stay put. He might get burnt or makes more profit but that doesn't account for being greedy. His analysis was spot on and he decided to be discipline in his trade. Greed is when you haven't done analysis, jump on a trade, see you are making profit and decide to stay out thinking the market will keep going up.

 

[Robson Dey]

Every trader choose that kind of broker which has low spreads. Spreads is a very important tool in forex trading. Sometimes high spreads put a trader into danger. he may face loss because of high spreads. I am currently trading with Forex4you. They give low spreads starts from 0.1 pips. It is very lower than most other brokers in the forex market. I love them because they don't change their rates. They always be helpful for me. I love them because of their low spreads and easy trading techniques.

 

[IamDozzy]

This is very true. Greed is very dangerous and has made so many people to lose what is precious to them. Betting companies take advantage of people's greed to make profits. In betting, the greater your greed, the greater your loss. It's advisable for people to know how to take their greed because every human us the potential to be greedy, it how we take it that matters.

 

[Good-Guy]

I have been a victim of scam and I have lost a whooping $27 last year. I am unemployed and I have no real source of money, so I planned to invest in some HYIP Programs only to find that they just become a scam in the end. I have never invested in Forex but I have "invested" or you can say that I actually wasted my hard earned moeny. I would advise people to stay away from HYIP programs at all cost. Definitely they will become a scam at some point. You will never know and you will lose every thing you invested.

 

[Deleted member 28873]

Yeah greed is a very bad virtue that could destroy you.I do believe in taking my steps little by little I don't need to get over ambitious.been greedy actually means wanting all of something for yourself.I can say greed is good to some extent like it helps in motivation for example I saw a friend of mine riding a car I could channel my greed and jealousy of him owning a car to making me get hardworking and thinking of ways to get mine.Over greed is not good

 

[Joseph555]

Greed has dealt with me this year so severally, I lost two hundred and twenty thousand naira to my bonus and insMe Ponzi schemes, I was earning but the said greed couldn't allow me leave when the aviation was loudest, I started seeing myself ahead of my peers, I just thanks God that I didn't resign from my place of work because that could have been the last straw that probably kills the camel.

 

[Maven Tiger]

This is definitely me you're talking about here, and you are absolutely right on what you said above. Few years ago I lost almost all my hard earned money to forex, I had no single experience about forex and how it works but yet I still went to invest on it, the more I'm loosing my money the more I'm hungry to recover it and the more my loss is increasing, before I realised almost all my savings are gone, but I'm glad I learnt my lessons and at same time I never learnt it completely as I lost a lot of money on cryptocurrency few weeks ago.

@Aniwhyte should I say Greed or Ignorance. In your case I think it's more of ignorance because you know the right thing. For every investment plan you have in mind, it is expected of you to understand the basics if not all about your investment. Any investor who loves taking un calculated risks stand the chance of losing all funds invested.

 

[Thosynho]

Quite a significant number of people have lost almost all their hard earn money to forex. Category of people who have lost their money to forex are numerous some of them lost it as a result of ignorance because they know nothing about the trade they only heard it's paying well and they invested their.
Some relied on false information or analysis or forecast and pick a trade wrongly.
Also, some fail not because they are inexperience but too much greed destroy everything they have earned. Many people want to make much profit even after making reasonable profits they still want to continue till the market falls suddenly and begins to go down rapidly before they could realised, all their investment is gone.

 

[Maks25]

Its a social problem. Men and women love money and flashy things.

What are corrupt politicians, yahoo boys and ritualists looking for? Right, Money and flashy things.

Every body seems to be in pursuit of one material thing or the other.

People(including women) only attack women because in this part of the world they are not a protected class. Its easier to bully and question the most vulnerable every time. Hypocrisy.
Greed is the enemy of all men

 

[Yugocean]

There is a saying in our country, "Greed is evil", the sayings are made by understanding the society on a mistake that has been going on for centuries, but the effect is personally known to the people only when they avoid calling them "proverbs". However, when the time comes, people understand this truth with experience. No matter what happens, do not fall into greed, if people get a tempted position in something, they have to save themselves from it on time, otherwise they will regret it.

 

[Unique23]

No doubt greed can destroy us because every person's wish to want more and more so that's why he loose everything.

 

[Samuelkanu]

Greed is one of the reasons why many forex traders lose money. This is because it is part of our human nature as we have emotions. Sometimes we might think that instead of making little profit we can make it quicker with bigger lots so in the process we can lose heavily. Forex is a marathon and not a sprint so we should trade today so as to be able to trade tomorrow. We should try to eliminate greed by having a good money management strategy.

 

[Divinechidera]

Very correct!! The boy who lost 30 million naira and committed suicide comes to mind. A lotta people, having heard how lucrative Forex is or how someone they know made a lot of money from it just rush into it without understanding how it works.
I Know someone who lost a 100k because of the same reason.

 

[George10640]

When I first came across forex In the last two years i thought the journey could be simple for me but couldn't manage as i expected. I end up switching to binary trading but it is where I made of losses a lot.My account is still negative upto date as I was not able to recover for the loss. Greed was what made me blow different accounts. I had no system yet to follow since binary is much of gambling and not similar to forex. After the losses I had ,I quit and began lessons again on forex.I didn't carried the greed I had with binary.

 

[Sammy01]

You are right but what do you expect, when you are living in a very corrupt country why things doesn't favor the masses they are forced to make things work for themselves by using all their life savings on investment platforms that promise them big RIO in few days or under minutes at the end they end up be scammed because of their greed.