A Good Solution Of Too Much Greed In Trading ? - page 3.

ss890

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Quote from: infuser0416 on October 21, 2017, 10:22:07 AM

I Am New At Trading Some Of My Trades Actually fail because of too much Greed is there anyway how to determine how to stop ? and avoid this Greed Emotion Sad

That’s very easy to get it done. As you know your weak point then you should just overcome your weak point to get the job done. If you know very well it’s greed that’s coming in your way then you should try to avoid being greedy. You might get many suggestion but this one is completely personal and you are the only one who can overcome the greed. If you do so then surely there will be nothing but a straight forward trades and yourself. Try to define your goals first and act like that, don’t react. ;-)

ajmal604

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I have no idea, please search google & youtube, its may be too much helpful, i think. Huh

Thank

rodalutor

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You need to set yourself targets and restrictions, if you aim to profit 20% and you reach that amount sooner than expected, so be it, take your money and move on to the next successful trade, you don't need to stress then that you could've made more money if the price continued to rise.

Indianhitz

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Greed is major reason for you to fail as a trader. To eliminate greed from your trading approach, you need to develop a trading plan and trading lifestyle where you plan and follow the rules according to your psychological trading mindset. You should try to practise mind games and mind strengthening approach for becoming a good trader and to eliminate emotions from your trading mindset. Try to read psychological books on eliminating the fear and greed types of emotions and then master it slowly step by step.

hitrawal91

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Greed is one of the emotions which can ruined your hard earned money if you didn't control it on time. First understand the emotions and try to find the solutions of how to control it or how to prevent it. There are many books written on controlling the greed , i have one recommendation from my side read the book " THE DISCIPLINED TRADER" by "MARK DOUGLAS" specially for the people who are facing problems while controlling the emotions and will help you be disciplined while trading.

For stop you better use Monetary stop which is think is required for you as you are emotional trader. i cant explain everything in detail about what is the monetary stop it is a big topic so just google it and find it.

buwaytress

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I know it's a really simplistic way to say it but it's actually what works. Greed, emotion, impatience, these all affect traders, from amateurs to professionals. This is why professional trading firms have strict monitoring groups, buddy systems to help people check on each other's individual performance and keep each other in check. For a lone trader, the simplest way that works is to always have your research done before making the order.

Determine the entry (long or short), why you think it's a good entry, and then determine your exit. This means setting your profit taking as well as your stop loss. Once you're confident of these, enter your trades, and let the market take care of it. If your price entry is never met, then let the order expire and recalculate. If it triggers, allow the market to close your order (either at profit or loss).

This way, you limit losses, and you realise profits. Also, you accurately learn from your strategies. Do they work? Could they have worked better?

eann014

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Quote from: infuser0416 on October 21, 2017, 10:22:07 AM

I Am New At Trading Some Of My Trades Actually fail because of too much Greed is there anyway how to determine how to stop ? and avoid this Greed Emotion Sad

You must know your limits before you trade. It is very risky especially if you are a newbie. You must also try once and don't try a lot because there is a possibility that all your trades will fail and you will lose it all. So you need to be careful before trading.

bubblebit

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Quote from: infuser0416 on October 21, 2017, 10:22:07 AM

I Am New At Trading Some Of My Trades Actually fail because of too much Greed is there anyway how to determine how to stop ? and avoid this Greed Emotion Sad

Acceptance is great start, knowing that your “greedy” is the hardest thing to do but you made to admit it. Now the problem is how to stop it? Then it might need determination and learning is one way journey to overcome emotions. The more that you know how bitcoin and altcoin moves & work the lesser the chance for you to think in a panic. Lack of understanding on every coin is like going in war without knowing the map.

Dudeperfect

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I would suggest a planned trading strategy if someone is facing the issue in controlling the emotions while trading. A trader should do a research for the coin in which he is having interest and decide the expected profit / possible loss of the investment in the same. Then he should invest in that option as per his strategy and sell his investment if it is reaching at his expected level even if it is at a lower side. He should not change his strategy under the influence of the market behaviour.

One can definitely earn the further profit if he is having a flexible strategy but in that case, a trader should have enough knowledge, experience and skills to determine what could go wrong. Thus it is not recommended in the initial phase of trading.

RoommateAgreement

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Bazinga!

stop being greedy.

i am not joking. you already know what you problem is which means you are halfway there, unlike others who have not yet figured out they are greedy that they lose money.
set some percentage profit that you want and think is enough for you and stick to it. is it 1%, 5% or 20%? wait until it is reached and sell there, don't wait for "more". you can even set your orders ahead of time. for example you buy something at 0.0001BTC and immediately place a sell order at 0.00012BTC (20% profit).

if you can discipline yourself to follow this simple rule, you will be successful in trading in no time.

13abyknight

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Quote from: infuser0416 on October 21, 2017, 10:22:07 AM

I Am New At Trading Some Of My Trades Actually fail because of too much Greed is there anyway how to determine how to stop ? and avoid this Greed Emotion Sad

This is very common when lots of profit is made. You think about more profit out of first earned profit which often leads to trading demise eventually.
Common practices to avoid this would be taking time off trading and during this time, you shouldn't think about the topic at all. One more doable thing would be buying something with that profit and calling it a day.

Rooster101

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Aside from controlling emotion, human, by nature, is greedy and that greediness need to be tamed when you join the trading. Trading is risky business and be sure to be well-prepared and ready to face the risk or to take some risk before joining. Greediness when goes out of control will give you more harm than good. A carefully crafted trading plans, tons of patient and always looking for any good indicators will help you succeed in your trading endeavors.

nidacoinlove

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Quote from: infuser0416 on October 21, 2017, 10:22:07 AM

I Am New At Trading Some Of My Trades Actually fail because of too much Greed is there anyway how to determine how to stop ? and avoid this Greed Emotion Sad

First of all you need to understand that trading is not a simple and easy activity, it's a very complex activity in which you have to look at many things at the same time. Traders are by nature sceptical they will search for the weakness of a currency if they find it week they will never invest in it. So, you are not suppose to look at the glitter with which the marketing team covers the weakness.
Secondly withdraw your capital amount as soon as possible from trading and continue with the profit you get from trading, it will help you in being secure.
Some of the young traders also get panic soon due to which they can't manage trading activities accurately so you need to be patient and the time and trade wisely. These are the tips that can change your life.

hawkins

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well, I guess that's normal, and it happens to everyone. well, even I am also greedy in terms of trading. all we can do is try to be patient, and if it's profitable, then sell the coins you have. a lot of gratitude will make your greed less.

Kyraishi

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Quote from: infuser0416 on October 21, 2017, 10:22:07 AM

I Am New At Trading Some Of My Trades Actually fail because of too much Greed is there anyway how to determine how to stop ? and avoid this Greed Emotion Sad

it's more about controlling your emotions than having skill.

Never join a pump and dump group. Never join a pump and dump when it is in the pumping stage because it can dump at any time. Honestly, invest in what you believe in instead of what you think others believe will go up. Because often times, the coins that have the best concept grows the most in the long run.

Don't aim for short term profit - otherwise, you may be dumping at a point that is way too low.

Nerman

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I follow my trading plan 100% at a time i always have a target price and a stop loss. When i hit my target i will sell it and just in case it goes up more do not regret it since you already have a gain. A gain is a gain. As you know being greedy is a bad characteristic of a trader. We cannot know the future price so it is better to have that gain.

Gotottack

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Here are some of my considerations:

1) Do not abruptly decide to sell you Bitcoins when prices are falling too quickly.
2) Do not buy Bitcoins when price is increasingly high as it might just be a business strategy to attract more demand.
3) Pay attention to data. You must remember that when you have a good source of data for the last five years, you can rely on it for good causes since most likely everything else in the market would be predictable.
4) Consider others. This is put in the last for a reason that is personal to me. Might as well just consider your own side when time comes.

infuser0416

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Thanks a lot i appreciate all of your insights

hoping to get back my self again after a loss haha

infuser0416

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Quote from: DaMut on October 21, 2017, 11:57:18 AM

a good solution for your emotion is by feeling it,
most people will not understand how to control their emotion until they feel it.
for example me,
when i tried to control my emotion i always end up losing it,
no matter what strategy that i had,i always losing it so.
until a day when i try to put my saving and lose it all,that time i understand what is it and reliaze it that everything that i lost is too precious for me.
just like your real life,you will understand it whenever you lost it.
and that is the point when you can control your emotion,at least manage it very well.

a steel can not be a shield if you do not burn it,
you need to break your limit by feeling it and then transform it.

Well Said

Thanks appreciate alot

Aura

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Set a limit for yourself on how much you can trade everyday, don't go over it.
Don't trade more than you can lose, so don't use your all monthly salary for trading.
Focus on maybe 3 coins, do your research before investing.

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