We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
More View more
Real Time News
  • $AUDJPY technical positioning hints prices may be on cusp of turning lower after a late-2019 bounce, recoupling with a dovish RBA policy outlook. Get your market update from @IlyaSpivak here: https://t.co/z84Y0V0ZtH https://t.co/wcIGO1emDw
  • The Japanese Yen has faded into 2020 as market risk appetite has held up and hit demand for haven assets. $USDJPY now challenges a key medium-term downtrend, but hasn’t topped it yet.Get your market update from @DavidCottleFX here:https://t.co/4X6vgCgkB7 https://t.co/FfCkGhtHsm
  • The $USD may fall against the Swedish Krona and Norwegian Krone if commentary from officials at the Davos forum uplift market mood and pressure haven-linked currencies. Get your market update from @ZabelinDimitri here:https://t.co/SZAG0yMu3d https://t.co/cBZj5tC0Ny
  • The $NZD is inching toward support guiding gains in the fourth quarter of 2019. A break may set the stage for long-term bearish trend resumption. Get your market update from @IlyaSpivak here:https://t.co/bnlx4RJ8oV https://t.co/d60YziMYnO
  • $Gld prices are poised to mark the highest weekly-close in nearly seven-years, but the bulls aren’t in the clear yet. Here are the XAU/USD levels that matter next week. Get your $XAUUSD technical analysis from @MBForex here: https://t.co/yeTH6HwncQ https://t.co/6sIpxTSNaX
  • Video https://t.co/PZeqhLumSR
  • The $USD rose as the Singapore Dollar, Malaysian Ringgit and Philippine Peso fell on coronavirus fears. What is the technical outlook for USD/IDR, USD/SGD, USD/MYR and USD/PHP? Find out from @ddubrovskyFX here: https://t.co/G3GmyOe4IT https://t.co/iq7ajeP6iv
  • RT @ddubrovskyFX: The Indian Rupee 2020 outlook is bearish as India faces stagflation risk amid rising onion and crude oil prices. USD/INR…
  • Bloomberg just reported that Australia confirmed its first #coronavirus case
  • Monday open volatility? https://t.co/0ElZtSfHsz
How to Control Greed When Trading

How to Control Greed When Trading

2019-04-12 08:24:00
Richard Snow, Markets Writer

Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders.

Greed can very easily turn good trades into bad ones and bad trades into worse trades. This article provides a number of tips to control greed and how to stop it interfering with your trading success.

What is greed in trading and how does it impact trader success?

Greed can be described as an intense desire for something and often manifests as the intense desire for wealth. This can easily get out of hand when the market moves against traders but is equally likely to negatively influence trading decisions on winning trades.

Examples of greed when trading:

  • ‘Doubling down’ on losing trades
  • Adding capital to winning positions
  • Over-leveraging

Greed can alter your mental state, harnessing your focus to maximise utility/happiness/wealth. The desire for these things often results in traders placing trades they otherwise would never have thought of executing.

Furthermore, greed poses a threat to the trading account. Doubling down, adding too much capital to winning positions, and over-leveraging can quickly result in a margin call or can deplete account equity.

Top example of how greed impacts trading

The chart below provides an example of the negative influence of greed. The chart shows a scenario where a trader enters a long position in EUR/USD (without a stop) after the large green candle, hoping that that market moves higher. The market moves lower and places the trader into a losing position. Greed may entice the trader to not only maintain the existing position but to open a new long position when the market shows signs of turning around (the second blue arrow).

The idea of buying at this relatively low point and turning a losing trade into a winner can overwhelm traders. Furthermore, such greed can blind traders to the degree that it is possible to trade in the opposite direction to the trend without even noticing.

example of greed in trading EUR/USD

Greed is often accompanied by other emotions, such as fear. Fear appears many times in a trader’s journey which is why it is essential to learn how to manage fear from the onset.

How to control greed when trading

Fortunately, greed can be controlled and overcome like all emotions. With time and the necessary discipline, it is possible to execute trades without greed getting in the way.

Greed can be seen as the opposite of discipline. Individuals that are disciplined very seldomly fall into the greed trap as they have some sort of plan and stick to it. Trading plans and trading journals are a great way to keep traders on the right path and not be tempted to enter trades that deviate from the plan.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Richard Snow
Don't let your emotions get to you. Rebuild confidence now!
Get My Guide

Traders should also consider setting strict stop losses and target a number of pips to the upside before entering a trade. This is referred to as the risk to reward ratio and was found to be the single most important trait of successful traders.

It’s important to remember that managing and dealing with greed is not something that will be resolved over the next couple of trades. However, traders that are conscious of how greed can negatively influence trading and implement the above points as part of a trading regimen, will be taking positive steps toward the goal of “greed free” trading.

Stop being greedy

Further reading on managing emotions while trading

Take a look at the following resources and articles to explore more on emotions in trading and how to keep them in check to be a successful trader:

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.