How to deal with greed whilst trading? - page 3.

javainn

full member

Activity: 733

Merit: 100

Quote from: thegoatiest on April 14, 2019, 09:08:54 PM

Hello!

I'm doing alright trading, learning.
However - I spotted myself being very greedy earlier. I wanted a bigger position as I was confident of the direction of the market..
So I entered in at a lower spot, with a higher position - lowering my entry quite significantly.
I've actually done this twice in two days.

How do you deal with this particular emotion in trading?
I'm trying to be as mindful as possible - but i get really excited.. and start getting reckless.

I think I need to read some more books on trading psychology.
TG

You have to start controlling yourself to see maximum results quickly, I suggest you use the principle of "little profit but always running" this will make it easier for you to get profits on a daily and regular basis regularly

Adhichan

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Quote from: emberbekas on May 23, 2019, 10:33:32 AM

Quote from: Lakai01 on April 14, 2019, 11:05:22 PM

The ability to control your emotions differs a good from an exceptional good trader, that is very hard to do and needs a lot of experience.

Try to plan your trades before you place them:
- whats your entry point
- whats your stopp loss
- whats your take profit point

And dont change those values as soon as you placed your order.

Right, making a plan before starting to trade can be the best thing to do so that we are not greedy and played by our emotions when things are beyond our expectations. Continue to follow the plan and never change it, no matter what happens.

we have to dicipline with our trading plan.by doing this correctly we will understand how is our journey in trading.did we already do the right thing in our analisys or not.consistant to do our trading could improve our trading result.

emberbekas

legendary

Activity: 1904

Merit: 1000

Quote from: Lakai01 on April 14, 2019, 11:05:22 PM

The ability to control your emotions differs a good from an exceptional good trader, that is very hard to do and needs a lot of experience.

Try to plan your trades before you place them:
- whats your entry point
- whats your stopp loss
- whats your take profit point

And dont change those values as soon as you placed your order.

Right, making a plan before starting to trade can be the best thing to do so that we are not greedy and played by our emotions when things are beyond our expectations. Continue to follow the plan and never change it, no matter what happens.

FanEagle

legendary

Activity: 2884

Merit: 1117

Quote from: Dontme on May 22, 2019, 01:23:51 AM

Quote from: thegoatiest on April 14, 2019, 09:08:54 PM

Hello!

I'm doing alright trading, learning.
However - I spotted myself being very greedy earlier. I wanted a bigger position as I was confident of the direction of the market..
So I entered in at a lower spot, with a higher position - lowering my entry quite significantly.
I've actually done this twice in two days.

How do you deal with this particular emotion in trading?
I'm trying to be as mindful as possible - but i get really excited.. and start getting reckless.

I think I need to read some more books on trading psychology.
TG

It`s part of being a human to become emotional specially when it comes to money, we can`t control ourselves. What I can say is that you must set a goal that could satisfy you and when you achieve that amount, then call it a day, no more instinct or maybe maybe. Just stop when you achieved your desired amount.

This is a weakness that is common with so many human being which we cannot completely take away from them and no matter how much they try to control it personally, it will always find its way to them, We are all greedy but the only way we can really control our greed is first to decide to control it, after which it doesn’t end there, when it comes to trade.

There are so many tools that have been created to help control our greed like the stop loss tool and take profit tool which is what I have been using to control my greed. Anytime I enter my trade, I make sure that I set my stop loss tool and then my take profit, so I dint get to be tempted when I am directly watching the trade.

Kiweikoo

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Activity: 1036

Merit: 500

Quote from: Genamant on May 21, 2019, 03:42:01 AM

Quote from: thegoatiest on April 14, 2019, 09:08:54 PM

Hello!

I'm doing alright trading, learning.
However - I spotted myself being very greedy earlier. I wanted a bigger position as I was confident of the direction of the market..
So I entered in at a lower spot, with a higher position - lowering my entry quite significantly.
I've actually done this twice in two days.

How do you deal with this particular emotion in trading?
I'm trying to be as mindful as possible - but i get really excited.. and start getting reckless.

I think I need to read some more books on trading psychology.
TG

i confess its hard to battle with greediness but its more harder to deal with profits turned into losses
thats what i keep on saying to my brain literally everytime greediness attacks me

I think if you are have a wise mind and rational greed, you might not loose much money in trading. This is because you would not stay as long as other guys in the market do. This is important and I believe that if your initial cost of investment is down, you could hodl your coins and can wait for a bullish market with a bit more profit in hand.

sidkz

copper member

Activity: 1218

Merit: 1

greed can lead to sad consequences
need to understand that you can lose much more
better small plus than big minus

barbara44

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Activity: 2548

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Quote from: thamisephoenix on May 21, 2019, 11:08:49 AM

There is almost no one that is not tempted into making rash decisions while trading and I think the resistance to this emotion all boils down to discipline which I cannot say I have in abundance. I know the problem, but the solution still eludes me too. Undecided

It is not only you that sometimes do not have much control over this, even those that are advising against it are the most greedy ones when it comes to trading, how many of them would see opportunity to take big profit and not risk it, sometimes when we risk it works and sometimes it fails.

One of the reasons why many people are also greedy is because they lack the capital that will attract big profit even with a small push. I can be greedy sometimes too when I think of how big my expenses are, I think the best way to just control greed is to completely stay pout of short term trade and be a holdler.

Rooster101

sr. member

Activity: 826

Merit: 256

I think all humans had a varying degree of greediness and it is up to everybody to control it. Neophyte traders are mostly the victims of their own greediness in trading and often result to a loss of money. You can able to control greediness through many experiences in your trading. A mature trader can easily set aside emotion and greed because he already learned a lot from his past experiences.

Dontme

sr. member

Activity: 798

Merit: 255

Quote from: thegoatiest on April 14, 2019, 09:08:54 PM

Hello!

I'm doing alright trading, learning.
However - I spotted myself being very greedy earlier. I wanted a bigger position as I was confident of the direction of the market..
So I entered in at a lower spot, with a higher position - lowering my entry quite significantly.
I've actually done this twice in two days.

How do you deal with this particular emotion in trading?
I'm trying to be as mindful as possible - but i get really excited.. and start getting reckless.

I think I need to read some more books on trading psychology.
TG

It`s part of being a human to become emotional specially when it comes to money, we can`t control ourselves. What I can say is that you must set a goal that could satisfy you and when you achieve that amount, then call it a day, no more instinct or maybe maybe. Just stop when you achieved your desired amount.

posi

hero member

Activity: 2268

Merit: 579

Vave.com - Crypto Casino

Quote from: ricardobs on May 22, 2019, 12:17:04 AM

Quote from: zidanw on May 07, 2019, 01:00:39 AM

Quote from: rijaljun on May 07, 2019, 12:19:43 AM

You don't need to deal with it or to find a way to avoid it. If you can learn how to trade, then keep learning. I do believe with the more experience you got from trading and your greed, you will know how to deal with it automatically.

of course we must be able to find ways to avoid that greed. greed is a human nature that does not think of anything and is more selfish. if the person is experienced in trading but its nature is not then it is useless. so you must be able to control your nature before trading.

Greed is a kind of hurry in selling the coins for small profit will result in fair performance but greed for huge profit is a kind of HODL for long life when it comes to crypto trade. There are huge gains if one HODL for some time when the price is at peaks or a complete bull run results in maximum productivity. It will result in profit in both situations only if trader follows the rules and does not sell when in loss.

I don't see any greed act in holding coins for long time since crypto currency are more use as an asset and ones just need to invest in a utilized coin with better community support. But, greed is investing huge fund ones can't afford to loose or following the crowd all in the name of making more profit.

ricardobs

hero member

Activity: 1204

Merit: 505

Quote from: zidanw on May 07, 2019, 01:00:39 AM

Quote from: rijaljun on May 07, 2019, 12:19:43 AM

You don't need to deal with it or to find a way to avoid it. If you can learn how to trade, then keep learning. I do believe with the more experience you got from trading and your greed, you will know how to deal with it automatically.

of course we must be able to find ways to avoid that greed. greed is a human nature that does not think of anything and is more selfish. if the person is experienced in trading but its nature is not then it is useless. so you must be able to control your nature before trading.

Greed is a kind of hurry in selling the coins for small profit will result in fair performance but greed for huge profit is a kind of HODL for long life when it comes to crypto trade. There are huge gains if one HODL for some time when the price is at peaks or a complete bull run results in maximum productivity. It will result in profit in both situations only if trader follows the rules and does not sell when in loss.

thamisephoenix

newbie

Activity: 11

Merit: 0

There is almost no one that is not tempted into making rash decisions while trading and I think the resistance to this emotion all boils down to discipline which I cannot say I have in abundance. I know the problem, but the solution still eludes me too. Undecided

Genamant

full member

Activity: 730

Merit: 102

Trphy.io

Quote from: thegoatiest on April 14, 2019, 09:08:54 PM

Hello!

I'm doing alright trading, learning.
However - I spotted myself being very greedy earlier. I wanted a bigger position as I was confident of the direction of the market..
So I entered in at a lower spot, with a higher position - lowering my entry quite significantly.
I've actually done this twice in two days.

How do you deal with this particular emotion in trading?
I'm trying to be as mindful as possible - but i get really excited.. and start getting reckless.

I think I need to read some more books on trading psychology.
TG

i confess its hard to battle with greediness but its more harder to deal with profits turned into losses
thats what i keep on saying to my brain literally everytime greediness attacks me

Whosdaddy

hero member

Activity: 1148

Merit: 527

Quote from: thegoatiest on April 14, 2019, 09:08:54 PM

Hello!

I'm doing alright trading, learning.
However - I spotted myself being very greedy earlier. I wanted a bigger position as I was confident of the direction of the market..
So I entered in at a lower spot, with a higher position - lowering my entry quite significantly.
I've actually done this twice in two days.

How do you deal with this particular emotion in trading?
I'm trying to be as mindful as possible - but i get really excited.. and start getting reckless.

I think I need to read some more books on trading psychology.
TG

This is a normal thing that happens to everyone, there are times you will see the market going up and you will feel so excited and you would like to make more profit. I think what you have to do is to always have it in your mind not to be greedy since you know how volatile the market can be and always remind yourself that you're not meant to be greedy. That way you will be able to get yourself to stop.

And another thing is that you should learn to control your level of excitement, just take everything that happens as a normal thing and see it like there is no need for you to start getting overly excited about it. Being overly excited can cause you to make huge mistakes at times.

dunfida

legendary

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Quote from: thegoatiest on April 14, 2019, 09:08:54 PM

Hello!

I'm doing alright trading, learning.
However - I spotted myself being very greedy earlier. I wanted a bigger position as I was confident of the direction of the market..
So I entered in at a lower spot, with a higher position - lowering my entry quite significantly.
I've actually done this twice in two days.

How do you deal with this particular emotion in trading?
I'm trying to be as mindful as possible - but i get really excited.. and start getting reckless.

I think I need to read some more books on trading psychology.
TG

All of us would certainly comes to that point or simply will experience such greedy emotion yet we are dealing on making money.
When we do see gains on our position we do become confident as we see it do raise up and for reason that on next trading
we would have that the same mindset and becoming careless more than before which would really result into mistakes.
Emotions can be handled overtime as you do engage with trades.

Bagaji

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Activity: 1330

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Quote from: thegoatiest on April 14, 2019, 09:08:54 PM

Hello!

I'm doing alright trading, learning.
However - I spotted myself being very greedy earlier. I wanted a bigger position as I was confident of the direction of the market..
So I entered in at a lower spot, with a higher position - lowering my entry quite significantly.
I've actually done this twice in two days.

How do you deal with this particular emotion in trading?
I'm trying to be as mindful as possible - but i get really excited.. and start getting reckless.

I think I need to read some more books on trading psychology.
TG

If what you did was profitable for you after two attempt which in my opinion it is a good strategy for you and if you can develop yourself in that aspect then you will have no problem with trading crypto currency. Some of us are now very careful with trading because of what happened in 2017 when the knowledge we had then was not enough about crypto currency and that made us toake hood money.

pant-79

hero member

Activity: 994

Merit: 502

Firstly, I'm at peace with myself, so in trade I try not to allow haste and excitement. I just do everything without any emotions, I learned to turn them off.
In the second, a plan helps me a lot. Before I buy any coin, I make a plan. In it, I write the purchase price and the sale price. Then I just follow my plan. That is what helps me to carry out a cold calculation. As a result, I achieve my goals absolutely calmly and impartially.
I usually calculate the point of sale based on the levels of support and resistance (which almost always intersect with Fibonacci retracement).

shesheboy

full member

Activity: 714

Merit: 114

It is really hard to combat the greed that we have but what i actually do avoid being greedy especially when trading is that i dont take trading seriuosly , i divert my mind sometimes on other stuffs not only it can lessen my greed but it also helps lessen the stress and emotion that is building up on my body . also , i only set my goal or my target price with the value that is only realistic and not exage . if i reach it i will sell and call it a day . i dont expect more

stadus

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Hhampuz for Campaign management

Quote from: MMysterious on May 19, 2019, 09:43:38 PM

Look. Greed is basic and is attached on us humans. The best way to deal with trading is to trade an amount enough and fitted on yourself. How to know the amount is right? When you feel emotional especially when you just started to buy a position, that means the amount you are trading is too big for you. Try lowering it down until you don't feel the emotion anymore.

You have to control your emotion, otherwise, you are risking your money for nothing.
Greed is one of the hindrance of success as we all know with greed, it will affect our decision making.

When you make a strategy, make sure you follow that strictly, and no emotion involve.
Having a weak emotion, is a sign of immaturity in trading, and you need to master controlling your emotion first to have a good chance of success.

MMysterious

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Bear season or just the beginning

Look. Greed is basic and is attached on us humans. The best way to deal with trading is to trade an amount enough and fitted on yourself. How to know the amount is right? When you feel emotional especially when you just started to buy a position, that means the amount you are trading is too big for you. Try lowering it down until you don't feel the emotion anymore.

Topic: How to deal with greed whilst trading? - page 3. (Read 996 times)