Excessive greed is detrimental to investment - page 5.

peter0425

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Quote from: Psynthax on January 09, 2023, 06:53:29 PM

most of the time, greed affects emotionally and therefore makes bad decision, becoming greedy is okay as long as you still have some logic in your investments decision,if your greed really affected you to the point that it caused you to miss so many chance of generating good returns just because you think the value might increase even more then only that your greed will really make you goes broke.

Greed is part of emotion and attitude meaning once you have those then surely you are greedy and deserve nothing but losses in this kind of risky and volatile market, if you cannot be contented in small but not too risky investing then accept the defeat everytime .
I knew someone who had been successful in being greed but that happens only once in a blue moon and not each time or in each people inside crypto.

Psynthax

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most of the time, greed affects emotionally and therefore makes bad decision, becoming greedy is okay as long as you still have some logic in your investments decision,if your greed really affected you to the point that it caused you to miss so many chance of generating good returns just because you think the value might increase even more then only that your greed will really make you goes broke.

doomloop

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Quote from: uneng on January 09, 2023, 01:53:48 PM

I believe we can't misunderstand greed with ambition. I think @redsun114 meant ambition by his example, because that is what lead us to seek for more money, for better life quality, for status and every other human needs that for some seem bullshit, but for others are necessary for their personal fulfillment and happiness.

Greed, on the other hand, is the insatiable characteristic some people have inside themselves. In this case nothing is enough for the person. He can have all the money of the world, best life standards and status on his society, but he still want more, even though it's not possible. These people losing all their money trading and gambling due to greed would act in the same manner if they were in a superior position, and some of them were for a while and lost everything for being insatiable!

Great that you break it down in order for them to clear out what they are talking about. So, according to your explanation, we can clearly see that ambition is much better than greed but too much ambition can occur too for us humans and this doesn't differ anymore from being greedy.

Speaking of greedy, many of us are currently suffering from it even though we know that it's wrong. In life, we should have this so-called contentment so that we won't fail if we are already at the highest peak of our careers. A lot of poor have this trait already but I think they need to try harder because they are still at the lowest point of their lives.

uneng

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Quote from: lienfaye on January 08, 2023, 09:41:34 PM

Quote from: redsun114 on January 08, 2023, 05:47:08 PM

Having greed is good, its the stupid mistakes that make you lose money. Greed is wanting more money, holding more than you should is not "greed", its a mistake, if you know what you are doing then you would sell at the top and buy at the bottom and make more money aka be greedy.

So all in all, do not make all the mistakes confused with each other, because emotions in trading world is very dangerous and mistaking which emotion is which could be even worse and that's an important thing.

You made mistake because of your greed to hold more and I see no difference. If you want more then that means you're greedy and it's not just a mistake because you're the one who decide to take that risk, hoping to gain. Well, it's a human nature to be greedy, because who don't want to earn more than you should right? But we need to control ourselves and think of the present. If you already earn then take profit already, buy back and hold. It just depends on our strategy on how to take advantage the opportunity for our own benefit.

I believe we can't misunderstand greed with ambition. I think @redsun114 meant ambition by his example, because that is what lead us to seek for more money, for better life quality, for status and every other human needs that for some seem bullshit, but for others are necessary for their personal fulfillment and happiness.

Greed, on the other hand, is the insatiable characteristic some people have inside themselves. In this case nothing is enough for the person. He can have all the money of the world, best life standards and status on his society, but he still want more, even though it's not possible. These people losing all their money trading and gambling due to greed would act in the same manner if they were in a superior position, and some of them were for a while and lost everything for being insatiable!

kapalmabur

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Quote from: lienfaye on January 08, 2023, 09:41:34 PM

Quote from: redsun114 on January 08, 2023, 05:47:08 PM

Having greed is good, its the stupid mistakes that make you lose money. Greed is wanting more money, holding more than you should is not "greed", its a mistake, if you know what you are doing then you would sell at the top and buy at the bottom and make more money aka be greedy.

So all in all, do not make all the mistakes confused with each other, because emotions in trading world is very dangerous and mistaking which emotion is which could be even worse and that's an important thing.

You made mistake because of your greed to hold more and I see no difference. If you want more then that means you're greedy and it's not just a mistake because you're the one who decide to take that risk, hoping to gain. Well, it's a human nature to be greedy, because who don't want to earn more than you should right? But we need to control ourselves and think of the present. If you already earn then take profit already, buy back and hold. It just depends on our strategy on how to take advantage the opportunity for our own benefit.

Such is indeed human nature, those who are greedy will always feel lacking with what they have obtained,
in this case it is very important to control yourself and for some people they usually don't realize it,
greed is pointless and will only make us lose more.

rodskee

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Quote from: redsun114 on January 08, 2023, 05:47:08 PM

Having greed is good, its the stupid mistakes that make you lose money. Greed is wanting more money, holding more than you should is not "greed", its a mistake, if you know what you are doing then you would sell at the top and buy at the bottom and make more money aka be greedy.

there is a way of greed to use as goodness while there are more to losing , if you are a Bitcoin investor or those ranking coins then yes you can rely in Holding and having greed in thoughts but if in Shitcoin? then you are a loser completely.

Quote

So all in all, do not make all the mistakes confused with each other, because emotions in trading world is very dangerous and mistaking which emotion is which could be even worse and that's an important thing.

emotion must not be in trading time because this will add more losing when you decide feeling bad or over happy.

lienfaye

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Quote from: redsun114 on January 08, 2023, 05:47:08 PM

Having greed is good, its the stupid mistakes that make you lose money. Greed is wanting more money, holding more than you should is not "greed", its a mistake, if you know what you are doing then you would sell at the top and buy at the bottom and make more money aka be greedy.

So all in all, do not make all the mistakes confused with each other, because emotions in trading world is very dangerous and mistaking which emotion is which could be even worse and that's an important thing.

You made mistake because of your greed to hold more and I see no difference. If you want more then that means you're greedy and it's not just a mistake because you're the one who decide to take that risk, hoping to gain. Well, it's a human nature to be greedy, because who don't want to earn more than you should right? But we need to control ourselves and think of the present. If you already earn then take profit already, buy back and hold. It just depends on our strategy on how to take advantage the opportunity for our own benefit.

carlfebz2

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Quote from: redsun114 on January 08, 2023, 05:47:08 PM

Having greed is good, its the stupid mistakes that make you lose money. Greed is wanting more money, holding more than you should is not "greed", its a mistake, if you know what you are doing then you would sell at the top and buy at the bottom and make more money aka be greedy.

So all in all, do not make all the mistakes confused with each other, because emotions in trading world is very dangerous and mistaking which emotion is which could be even worse and that's an important thing.

Greed is never been good because this would be pushing you on becoming that desperate when it comes to making money which you would really be that not minding about those basic analysis that you have done

earlier just because you had made yourself that confident that you could still make some money.This is why you should really not make yourself that greedy because it would really make some mistakes
that you might be able to regret later on.This is why proper handling of emotions and and self control is really that necessary specially when dealing up with trading.
You cant really be that making yourself that confident because its always been a challenge on handling yourself on an unpredictable market.

redsun114

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Having greed is good, its the stupid mistakes that make you lose money. Greed is wanting more money, holding more than you should is not "greed", its a mistake, if you know what you are doing then you would sell at the top and buy at the bottom and make more money aka be greedy.

So all in all, do not make all the mistakes confused with each other, because emotions in trading world is very dangerous and mistaking which emotion is which could be even worse and that's an important thing.

Chainsmokers

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Quote from: fuguebtc on January 06, 2023, 09:52:42 AM

Quote from: Strongkored on January 06, 2023, 05:07:23 AM

Quote from: LDL on November 26, 2022, 03:01:21 AM

My Investment Portfolio

Will the market go to the previous position?

I see Vulcan Forged on your investment list where this token has lost over 90% from its last ATH. Many coins can come back or make it to the latest ATH but many more end up being worthless at all, and PYR will most likely not touch its last ATH.
This is a valuable lesson that many projects are only good at the beginning with all the promises but don't have the ability to survive, if you don't have a problem with losses then you can sell it now as long as this coin still has value because this coin might not go anywhere but die slowly and make you get nothing, but the decision must come from yourself and consider many things.

There is no way of being sure that the PYR token will never go back to the old ATH, no one can predict the future, no one can tell us what will happen in the future. OP's mistake of not taking profit when it is profitable and over-investing in altcoins, this is a lesson for all of us. If OP's portfolio is bitcoin, then even if he doesn't sell them at ATH, there's nothing to worry about. Regarding my prediction on the above 3 projects, I am interested in PYR, I believe it is the project that will have the ability to recover the 3 tokens that OP is holding.

Yes the possibility will always exist and we know for ourselves that in crypto anything can happen,
looks like you have high hopes on PYR but anyway we need to see developments over time,
Of course, we never know what will happen next

Silberman

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Quote from: darewaller on January 07, 2023, 05:11:03 PM

Quote from: Silberman on January 04, 2023, 09:23:35 PM

While there is no doubt that plans should always be up to a revision in the case the events forced you to the point it was needed to do this as circumstances changed in an extreme way, at the same time a plan needs to include several scenarios, even the worst we think it may happen, this way if it came it happen then we are not going to be taken by surprise and we will be able to react quickly to the negative events currently taking place.

This is exactly why I have majority of my portfolio in big name coins like bitcoin and ethereum, and only a small portion of it in smaller scale coins like OP had. This results with me being a bit safe and low risk while keeping the profits to a realistic level, while also giving me a chance to make a great profit from some small thing if it happens.

If all of my small cap stuff goes to zero tomorrow, a simple 10% increase in bitcoin covers them all, but if one of the small cap stuff goes 100x, that could be as much as my bitcoin as well. That type of balance allows you to make a good amount of profit, and gives you a good chance to continue investing without a worry.

It is nice to see someone which gets it, a portfolio needs to have a balance in which the majority of it is composed by assets that are very strong and which you can hold for a long time, and then a small amount of your capital can be invested in assets which offer the possibility of higher profits with a higher risk, however newbies are too extreme on the portfolios they make as they are only interested in the profits they can get and they decide to not invest in bitcoin or ethereum and instead focus only on high risk coins, and while sometimes this can bring great results, most of the time what we see instead are horror stories in which they lose everything.

darewaller

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Quote from: Silberman on January 04, 2023, 09:23:35 PM

While there is no doubt that plans should always be up to a revision in the case the events forced you to the point it was needed to do this as circumstances changed in an extreme way, at the same time a plan needs to include several scenarios, even the worst we think it may happen, this way if it came it happen then we are not going to be taken by surprise and we will be able to react quickly to the negative events currently taking place.

This is exactly why I have majority of my portfolio in big name coins like bitcoin and ethereum, and only a small portion of it in smaller scale coins like OP had. This results with me being a bit safe and low risk while keeping the profits to a realistic level, while also giving me a chance to make a great profit from some small thing if it happens.

If all of my small cap stuff goes to zero tomorrow, a simple 10% increase in bitcoin covers them all, but if one of the small cap stuff goes 100x, that could be as much as my bitcoin as well. That type of balance allows you to make a good amount of profit, and gives you a good chance to continue investing without a worry.

fuguebtc

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Quote from: Strongkored on January 06, 2023, 05:07:23 AM

Quote from: LDL on November 26, 2022, 03:01:21 AM

My Investment Portfolio

Will the market go to the previous position?

I see Vulcan Forged on your investment list where this token has lost over 90% from its last ATH. Many coins can come back or make it to the latest ATH but many more end up being worthless at all, and PYR will most likely not touch its last ATH.
This is a valuable lesson that many projects are only good at the beginning with all the promises but don't have the ability to survive, if you don't have a problem with losses then you can sell it now as long as this coin still has value because this coin might not go anywhere but die slowly and make you get nothing, but the decision must come from yourself and consider many things.

There is no way of being sure that the PYR token will never go back to the old ATH, no one can predict the future, no one can tell us what will happen in the future. OP's mistake of not taking profit when it is profitable and over-investing in altcoins, this is a lesson for all of us. If OP's portfolio is bitcoin, then even if he doesn't sell them at ATH, there's nothing to worry about. Regarding my prediction on the above 3 projects, I am interested in PYR, I believe it is the project that will have the ability to recover the 3 tokens that OP is holding.

Strongkored

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Quote from: LDL on November 26, 2022, 03:01:21 AM

My Investment Portfolio

Will the market go to the previous position?

I see Vulcan Forged on your investment list where this token has lost over 90% from its last ATH. Many coins can come back or make it to the latest ATH but many more end up being worthless at all, and PYR will most likely not touch its last ATH.
This is a valuable lesson that many projects are only good at the beginning with all the promises but don't have the ability to survive, if you don't have a problem with losses then you can sell it now as long as this coin still has value because this coin might not go anywhere but die slowly and make you get nothing, but the decision must come from yourself and consider many things.

shinratensei_

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for everyone that seemed greedy with their investments they should just make strategy before hand and planning, that way your greed wouldn't influence your decision, you should always in line with your planning and by then you would get the most logical decision you would made like ever.
the thing is that, so many that becomes greedy despite knowing that they are quite literally in state of greediness and requires more calm still try to make some of the most absurd decision because they are influenced by their emotion, they are investing too emotionally that as you said could be quite detrimental towards their investments in general.
everyone should make their investments decision with calm in their mind therefore they could make really wise decision.

JeffBrad12

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greed is the cause of bankruptcy in investing most of the time but as long as you keeps analysing before investing and considers many thing before putting your money in some project I think even if you are greedy you could still make some profits out of your investments.
it's not only greed that could cause your investments becomes failure but the inability to choose good and promising coins through analysis even though sometimes in cryptocurrency some coins just increase in value out of nowhere even with really bad tokenomics, etc.

Silberman

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Quote from: tygeade on January 03, 2023, 02:44:33 PM

Quote from: ningrum on January 03, 2023, 06:43:25 AM

Plans are an important part of the strategy and at least they can minimize risk,
we must be able to place expectations according to their place and sometimes people forget about that so that it makes them greedy,
expectations that are too high can sometimes be disappointing when they are not achieved

Planning is important but it could also be our downfall if we stick to our plan too religiously. I mean we may have a bad plan and it may not work and in return we may lose a lot of money, which is not good at all. We should focus on how we could make more money with whatever we have, and if things change then we should reconsider our plan as well. That way it would be a lot better, it would give us a chance to recover from the losses if the initial plan was bad, and then make more money.

I know it is not an easy decision to change your plans mid-wave if something is happening, but we need to be ready for it. I have not done it too frequently, and just a big holder, never sell, but if I sold at 68k and bought now? Boy oh boy.

While there is no doubt that plans should always be up to a revision in the case the events forced you to the point it was needed to do this as circumstances changed in an extreme way, at the same time a plan needs to include several scenarios, even the worst we think it may happen, this way if it came it happen then we are not going to be taken by surprise and we will be able to react quickly to the negative events currently taking place.

Xal0lex

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Quote from: LDL on November 26, 2022, 03:01:21 AM

When I was new to cryptocurrency I was totally ignorant about market prediction, volume, future plans. Then I invested in some cryptocurrencies. After a few days of investment, I made quite a few dollars. But due to little knowledge about the market and excessive greed, I did not sell the crypto currencies I invested in the market at that time. So currently I am at a loss of $14000. Now I have no alternative but to wait for a long time. Finally I would like to say one thing from my real life, don't get too greedy in cryptocurrencies and hold any particular coin for a long time. It has the possibility of much more loss than profit.

For a beginner, you have chosen a portfolio that is too risky with only 3 shitcoins, which is very little for diversification. Your portfolio has no stablecoins, no blue chips, so it's in deepest drawdown. If you had free money, now you would not just sit and wait, but you could buy more assets or average buying growing assets, but you are constrained in the movements, because initially your risk management was 0, it just wasn't there in the first place. It's not a matter of greed, it's a matter of not knowing how to manage risk.

tygeade

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Quote from: ningrum on January 03, 2023, 06:43:25 AM

Quote from: Silberman on December 31, 2022, 08:58:09 PM

It is natural that when we make a plan we want things to go as we expect, so for example if we invest in bitcoin we expect that we will obtain more money than whatever we invest in it, that is not even greed, that is just the way humans behave normally, however people can get very greedy when they expect that a shitcoin achieves a 100x growth, that is greed and unfortunately it is very common as there are many people that actually believe they can identify and invest in a coin like that.

Plans are an important part of the strategy and at least they can minimize risk,
we must be able to place expectations according to their place and sometimes people forget about that so that it makes them greedy,
expectations that are too high can sometimes be disappointing when they are not achieved

Planning is important but it could also be our downfall if we stick to our plan too religiously. I mean we may have a bad plan and it may not work and in return we may lose a lot of money, which is not good at all. We should focus on how we could make more money with whatever we have, and if things change then we should reconsider our plan as well. That way it would be a lot better, it would give us a chance to recover from the losses if the initial plan was bad, and then make more money.

I know it is not an easy decision to change your plans mid-wave if something is happening, but we need to be ready for it. I have not done it too frequently, and just a big holder, never sell, but if I sold at 68k and bought now? Boy oh boy.

uneng

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Quote from: babygun on December 31, 2022, 11:32:23 AM

I would not only invest in BTC, but only in some other strong altcoins such as ETH or BNB. The problem always is that you will start to get greedy when you start getting profit. You see the price of the coin rises and will always want more and more and than it can be too late. You can partially sovle that with setting sell orders at certain limit prices.

Yes, investors are used to always want a little more. When they see a currency is rising, they tend to avoid selling, because they want to benefit themselves from the maximum potential that currency can offer them at that currently moment. They prefer to put the entire investment at risk for a potential extra 5%, 10% profit, which may never happen, as once the positive trend ceases, a sudden and deep crash is possible in a matter of few minutes, sometimes. That is what we call a bear trap, and it's not that unusual to happen in crypto market.

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