Fear and Greed in the Market:
The psychological factor in the market represents 50% of your success and the other 50% represents your analysis and tools [which we provide to you here for free and better than 99% of market analysts], the psychological part remains and is your responsibility to develop it.
1. Fear: Your enemy that will make you run away from the opportunity like a prey runs away from a lion.
Fear appears at times of bloodshed and blood running in the charts or sharp fluctuations. Some panic and sell their currencies at the worst possible time to sell, which leads to a huge loss.
• How do you deal with fear?
🥇 Rely on your plan and the strategy you set and buy from the previously specified areas.
🥇 Don't make your decisions based on emotions.
🥇 Accept that losing is part of the game and learn from it instead of giving up.
2. Greed: The trap that threatens your profits and will make you return to below zero again.
Greed appears when the green color starts to appear and the beginners start to feel ecstatic and happy from the profits, so you crave more and do not take your profits at the right time. Or even sometimes you enter into risky deals from very wrong entry areas in search of “quick profit”.
• How to avoid greed?
🥇 Set your profit goals in advance and stick to them.
🥇 Set stop loss and take profit as an automatic order to avoid emotional decisions.
🥇 Rely on discipline and patience, trading is not a race but a long journey.