Don't be greedy at this time. - page 2.

JeffBrad12

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Quote from: perla on December 25, 2020, 12:55:34 AM

Its really a good advice but we're in the middle of the pandemic some of us really want to take the risk of being greedy but I think being greedy is not a problem if you know the price will go up and you will take profit.

The problem is people didn't know how long it will be going. So many people were still taking the long term trade even the bearish market happened. i see that some people were still holding their assets even the price got depreciated so hard due to the massive dump that happened with crypto.
When people are greedy to gain a profit and they will forget about the best time to sell. They will take even the shitcoin for the long term.
This thing must be avoided by all traders. People should leave from the market when they have earned enough profit.

fauzan123

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Quote from: perla on December 25, 2020, 12:55:34 AM

Its really a good advice but we're in the middle of the pandemic some of us really want to take the risk of being greedy but I think being greedy is not a problem if you know the price will go up and you will take profit.

There is nothing good when we are greedy, because greed will make us bad. Why is that? with greed we have gone out of the plans made before trading, because this is the basic concept we have to do.

1. Planning before trading
2. Analyze and think about how much the target ratio of risk and profit can be obtained.

We cannot eliminate both of these things to get the perfect balance so that our finances are maintained.

perla

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Its really a good advice but we're in the middle of the pandemic some of us really want to take the risk of being greedy but I think being greedy is not a problem if you know the price will go up and you will take profit.

abel1337

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Quote from: South Park on December 24, 2020, 03:11:47 PM

Quote from: tygeade on December 24, 2020, 01:45:44 PM

Whenever people talk about greed, I remember the "greed is good" speech by Gordon Gekko, it is a movie obviously but it does explain to you what the insides of financial world is like. I think greed could be used very well, greed is not just about money neither, greed is about wanting more than what you have, and even more than what you need, greed for art, greed for knowledge, greed for love, they are all possible things and could be used alongside of greed.

In crypto world you could always be greedy in a healthy way, you should not go risk everything you have in a 100x leverage for one shot, that is the kind of greed that is bad and I would say stay away from that, however there is also a greed that is acceptable as well, like wanting more and more bitcoin, going into bitcoin heavily without making debt, those are nice kinds of greed if you could stay there.

There is a difference between ambition and greed, you are actually talking about ambition which is the natural desire to improve ourselves and our lives, ambition is good since it lead to great things, greed in the other hand is a never ending desire to get something and once reached to want even more, this is why it is discouraged because it never leads to anything good, at the beginning it may seem to do so because it has similar effects than what you see with an ambitious person, but over time you will see the difference as an ambitious person can have a healthy and diverse life while the greedy one only cares about still getting more and more of whatever they desire.

This is true. Adding to that, Having a never-ending desire could put you in danger because one of the possibilities that you can make if you hit by greediness is to speed up the process and find the shortcut to those goals of yours. Everything has a process and those processes should be encountered to finish our goal and taking shortcuts could give potential risks. An ambitious person is a lot different than a greedy person, Ambitious person still has contentment if the goal is fulfilled but being greedy has no contentment at all.

South Park

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Quote from: tygeade on December 24, 2020, 01:45:44 PM

Whenever people talk about greed, I remember the "greed is good" speech by Gordon Gekko, it is a movie obviously but it does explain to you what the insides of financial world is like. I think greed could be used very well, greed is not just about money neither, greed is about wanting more than what you have, and even more than what you need, greed for art, greed for knowledge, greed for love, they are all possible things and could be used alongside of greed.

In crypto world you could always be greedy in a healthy way, you should not go risk everything you have in a 100x leverage for one shot, that is the kind of greed that is bad and I would say stay away from that, however there is also a greed that is acceptable as well, like wanting more and more bitcoin, going into bitcoin heavily without making debt, those are nice kinds of greed if you could stay there.

There is a difference between ambition and greed, you are actually talking about ambition which is the natural desire to improve ourselves and our lives, ambition is good since it lead to great things, greed in the other hand is a never ending desire to get something and once reached to want even more, this is why it is discouraged because it never leads to anything good, at the beginning it may seem to do so because it has similar effects than what you see with an ambitious person, but over time you will see the difference as an ambitious person can have a healthy and diverse life while the greedy one only cares about still getting more and more of whatever they desire.

Lanatsa

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Quote from: iamsheikhadil on December 24, 2020, 01:54:17 PM

Sometimes it's just irresistible to not execute a trade when a coin keeps pumping even when all speculation and prediction fails, a user or a newbie trader just goes all in with all money he has and purchases a coin/token in the hope that it will give them returns but mostly they lose rather profit. The only profit you can make in a volatile crypto market is achievable only when you hold your crypto for the long term. Only then you will be having enough profits to feed your satisfaction and greed. Else, just executing trades will give you an average profit and mostly losses.

Holding doesn't work anytime that's why people do make trades on active manner and this wont really be something simple on where someone could able to take some profit.

Its really hard to resist when greed do really comes out and if your experience on this market isn't really that enough then you would most likely made out bad decisions.

Always consider on taking out profits when you do make gains and never ever tend to ask for more.Limit out things or always set some take profit level.
Don't always ask for more.

iamsheikhadil

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Sometimes it's just irresistible to not execute a trade when a coin keeps pumping even when all speculation and prediction fails, a user or a newbie trader just goes all in with all money he has and purchases a coin/token in the hope that it will give them returns but mostly they lose rather profit. The only profit you can make in a volatile crypto market is achievable only when you hold your crypto for the long term. Only then you will be having enough profits to feed your satisfaction and greed. Else, just executing trades will give you an average profit and mostly losses.

tygeade

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Whenever people talk about greed, I remember the "greed is good" speech by Gordon Gekko, it is a movie obviously but it does explain to you what the insides of financial world is like. I think greed could be used very well, greed is not just about money neither, greed is about wanting more than what you have, and even more than what you need, greed for art, greed for knowledge, greed for love, they are all possible things and could be used alongside of greed.

In crypto world you could always be greedy in a healthy way, you should not go risk everything you have in a 100x leverage for one shot, that is the kind of greed that is bad and I would say stay away from that, however there is also a greed that is acceptable as well, like wanting more and more bitcoin, going into bitcoin heavily without making debt, those are nice kinds of greed if you could stay there.

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Quote from: ?? on ??

Quote from: meldrio1 on December 23, 2020, 10:00:21 AM

Greedy is not really good when it comes in trading. I'm sure many newbies that always getting greed just to make big profit with this current condition of the market especially bitcoin. Sometimes greedy can earn you big profit but it's not good strategy because some coins will suddenly fall you really lose money instead. If you earned profit sell it right away just be contented, don't be greedy.

Greed is a very slippery thing. Sometimes you can understand that sometimes you are not greedy. But in reality, you are greedy every time you try to grab more by taking inappropriate risks.
It does not matter if you made a profit and want more, or you are in the red and want to recoup.

That is right. We will forget to take profit when we already see the profit comes to us become bigger. We must avoid becoming greedy if we want to make a profit. We already see many traders losing their chance at the right time because they do not sell their coins at the peak, and I am sure that we do not want to be like them. Maybe we need to learn about controlling our emotions in trading so we know when to sell our coins.

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Quote from: iv4n on December 23, 2020, 03:10:52 PM

Quote from: ?? on ??

greed is a natural part of us, and this is like a partner for a trader,
yes greedy in the current market situation must be shunned, greed can get you caught in a trap,
whales have a way to get a lot of profit, so be smart when trading.

Well I agree with that part about the greediness, it's in all of us! Some just know how to control it, some people can't, and there are all of us in the middle who can control it partially, we have our own moments!

Greediness is a power weapon and part of human nature and the only individual that can control their greed are well knowledge individual with previous familiarity.

Quote from: iv4n on December 23, 2020, 03:10:52 PM

And in my experience I lost many times when I was greedy, but there were some good situations where I wouldn't recover and take the profit without that dose of greediness!

When you are in the situation of loss many times what you need next is to put your patients to work and wait till the market recover but you can sell for loss that's if you can accept it.

Quote from: iv4n on December 23, 2020, 03:10:52 PM

The bottom line is, try to control it as much as you can, but in some situation's greediness can be useful!

Absolutely and that why I never detest the greedy habit in cryptocurrency investment if the coin is not hype base.

iv4n

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Quote from: ?? on ??

greed is a natural part of us, and this is like a partner for a trader,
yes greedy in the current market situation must be shunned, greed can get you caught in a trap,
whales have a way to get a lot of profit, so be smart when trading.

Well I agree with that part about the greediness, it's in all of us! Some just know how to control it, some people can't, and there are all of us in the middle who can control it partially, we have our own moments! And in my experience I lost many times when I was greedy, but there were some good situations where I wouldn't recover and take the profit without that dose of greediness!
The bottom line is, try to control it as much as you can, but in some situation's greediness can be useful! Knowing how to recognize the situation, and how to act in them is what makes difference between profitable traders and losers!

DoublerHunter

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Quote from: ?? on ??

greed is a natural part of us, and this is like a partner for a trader,
yes greedy in the current market situation must be shunned, greed can get you caught in a trap,
whales have a way to get a lot of profit, so be smart when trading.

^ We need to fight this emotion even though it is a part of us.
Alright, probably I agree that you made your personal mistake of buying bitcoin when it pumped up. But it doesn’t mean that it is going to be the same today. I also made the mistake of considering myself greedy when in fact I was not. It's all matter of research.
It probably looks like it pumped but sooner you find out that it still increased and you supposed to earn profit from it if you bought some the day your decision not to. Nevertheless, the situation of OP will never be the same as others so don’t limit them.

Akiko

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Quote from: TheGreatPython on December 23, 2020, 09:48:45 AM

This has been repeated a lot that we shouldn’t be greedy, but if you think the market still has more chances of increasing then there is nothing bad about giving it a try. If you’re a trader and you’re trading daily, you shouldn’t forget your stop loss so that even if you happen to make a wrong predictions and lose money it’s not going to be that much. Then as someone who HODL, you should as well check the market and know where it might, and don’t forget that there is no hundred percent assurance that it is moving based on your prediction, so you should be ready for whatever that follows and know what actions to take next.

Giving a try, but never use all of your funds to invest. Many lost with that because they fully trust a project that it can be back in that price, then use all their money but sometimes there are situation that will not be favor in you even you fully trust a coins that it can recover, one of the example is all altcoin in early 2018 they continue to drop it's price for the whole year and even more drop in the next more years . So if you can't wait that long and can't control your emotion for buying a coins then you should only do a daily trade in that case you can easily leave the project anytime you want without the hassle of waiting.

meldrio1

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Greedy is not really good when it comes in trading. I'm sure many newbies that always getting greed just to make big profit with this current condition of the market especially bitcoin. Sometimes greedy can earn you big profit but it's not good strategy because some coins will suddenly fall you really lose money instead. If you earned profit sell it right away just be contented, don't be greedy.

TheGreatPython

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This has been repeated a lot that we shouldn’t be greedy, but if you think the market still has more chances of increasing then there is nothing bad about giving it a try. If you’re a trader and you’re trading daily, you shouldn’t forget your stop loss so that even if you happen to make a wrong predictions and lose money it’s not going to be that much. Then as someone who HODL, you should as well check the market and know where it might, and don’t forget that there is no hundred percent assurance that it is moving based on your prediction, so you should be ready for whatever that follows and know what actions to take next.

DevilSlayer

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The general market emotion is really greedy which only means that there are still a lot of people that are continuing to buy and acquire positions. Actually, being greedy is not a bad thing but being too greedy is the problem and it should be avoided by a lot of traders and investors. The question is how do we avoid it? There are a lot of way in order for us to not being too greedy and one of the popular way is to develop our trading psychology wherein we know and we are aware to our current emotion, feeling and also the capacity to think on how we will execute our trade.

Discipline is also a factor and you cannot become too greedy at all if you have discipline wherein you have control on where will you trade and when will you not trade. I also suggest that traders should have plan first before they buy and acquire positions.

fullhdpixel

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Unfortunately there are too many newbies that came into crypto world during this period, which means they have no idea how things work, and they want to partake in this crypto world and make money like we did but they forget that they haven't been around for that long, yet they still try to get the same amount of profit as we did, they hear people making 2x even 3x returns and they want to make the same amount of returns as well.

What they are forgetting is the fact that those returns already happened, they can't make that unless bitcoin goes to 40k+ levels, even more, closer to 60k+ levels. Which is why I believe they should not be looking for these kinds of returns anymore and focus on increasing their bitcoin amount as much as they could instead, but they are not focusing on that unfortunately and get into riskier and riskier things to make big returns.

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Quote from: coin_1122 on December 23, 2020, 06:48:04 AM

Quote from: Majharul Saiif on December 23, 2020, 04:21:50 AM

Greed will destroy the entire earning,

This is just it; if you are greedy as a trader, or an investor you will miss out on several opportunities to take profits and that would cause you some problems later when there is a price correction or a bear market. Greed and fear is an emotion you have to overcome to be very successful in crypto currency.

nemey

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I also really agree with you. In trading we really need to learn a lot. There are many things that we need to know not only about the price of coins, but how to regulate emotions in trading and much more. All of that the goal is that we are less and don't even make mistakes that will make us lose. So don't be greedy, and don't rush into taking steps before you really understand what you are doing.

coin_1122

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Quote from: Majharul Saiif on December 23, 2020, 04:21:50 AM

Greed is a thing that's enough to destroy yourself. It's a very important thing that never greed it in your life. The element you use never can gain permanent success in your life without losses. So in trading, you have to understand, learn, and increase the capability to maintain the situation that will help you to go further.

Greed will destroy the entire earning, so we should always be happy with what we have, in crypto, sometimes we might see our estimation but greed makes us lose all the money. Trading, always will not help us to make a profit, but when we made profit we have to use them wisely otherwise we will end up in huge loss.

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