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Topic: Indiscipline and Greed - page 5. (Read 595 times)

sr. member
Activity: 630
Merit: 250
enterapp.io PRE-SALE IS LIVE
March 06, 2020, 05:47:48 AM
#15
When you have made enough money, it's better to call it a day and wait for another day of opportunity.


From this one problem came, " enough " is definition high profit. When people decide target, mostly is not realistic and want revenge when fails, totally wrong. People always have greedy and lazy but disciplines can be train to solve the problem. Using demo account, making trading journal and share experience with expert is how to do that. Have limit and don't break it, your future is depend what your act today.
hero member
Activity: 2842
Merit: 625
March 06, 2020, 05:07:54 AM
#14
Discipline is a must whether you are a trader or investor.

This attitude is very important to control yourself and avoid further losses. Without discipline and you're just letting your emotions move you, you will have a bad ending and you will be disabled to control greed.

Without which, you will always end up losing even though you're pursuing yourself to make money.
hero member
Activity: 2912
Merit: 556
Enterapp Pre-Sale Live - bit.ly/3UrMCWI
March 06, 2020, 04:45:51 AM
#13
I'm curious to know what advise would you give to the traders who already suffered losses in their first trade. Would you tell them to stop and wait for the next day or will you encourage them to trade more until they recovered their losses and made profits?

I like the one comment above about planning and implementation. Stick to your trading plan whatever the result is.

Perhaps, stop for a while will be better because if he continues, I am afraid he has a high tension to recover his losses, and that can make him make a wrong analysis related to the current market. Besides that, he needs to learn more about analysis so he can do better than before, and he needs to avoid greed when he can make a profit.

When we trade, it is normal if we get lost, but we need to hold ourselves before we decide to continue or stop trading. If the market still has the right movements, we can continue to trade, but if it's not, it is better to leave the market until the situations change. The important thing is we can analyze the price to buy and sell, and stop trading so we can prevent worse conditions.
sr. member
Activity: 1176
Merit: 301
March 06, 2020, 04:33:20 AM
#12
This is what most new traders problem they are too greedy that even if they already have a profit they wouldn't take it and wait for a higher profit,
Then the price would start to decline and they would still continue to hold until they no longer have profit and their capital is already decreasing.
member
Activity: 784
Merit: 21
March 06, 2020, 04:21:42 AM
#11
I'm curious to know what advise would you give to the traders who already suffered losses in their first trade. Would you tell them to stop and wait for the next day or will you encourage them to trade more until they recovered their losses and made profits?

I like the one comment above about planning and implementation. Stick to your trading plan whatever the result is.
When we fail we must stand up again until we defeat but newbies of today don't even bother to learn trading first, there is a difference here, the loss won't be huge if the learn first, those who don't learn first always trade recklessly
member
Activity: 784
Merit: 21
March 06, 2020, 04:19:07 AM
#10
Not indiscipline but lack of knowledge or wanting to know more,that's what makes many lose money in trading, for a new beginner I expect learning the basics first before giving a try
sr. member
Activity: 1526
Merit: 412
March 06, 2020, 04:14:34 AM
#9
I'm curious to know what advise would you give to the traders who already suffered losses in their first trade. Would you tell them to stop and wait for the next day or will you encourage them to trade more until they recovered their losses and made profits?

I like the one comment above about planning and implementation. Stick to your trading plan whatever the result is.
hero member
Activity: 1932
Merit: 506
Betking.io - Best Bitcoin Casino
March 06, 2020, 04:02:22 AM
#8
Trading cryotocurrencies is not so easy but very profitable.  majority find it difficult to retain their profit after a successful trade which is mostly caused by greed and indiscipline. When you have made enough money, it's better to call it a day and wait for another day of opportunity. Instead, indiscipline will make you open another trade to make more money which is what usually  lead to  losing the profit you already made from your first trade. Anyone can make this mistake and the most important lesson is to learn from our past mistakes because the mistakes are the lessons.


This is what most of the newbies are lacking, they are very greed to earn a huge amount of profit in a very short period of time therefore they keep on trading even if they are already profiting until they will end up losing also their capital.

I fully agree with you, greediness,no discipline and no patience will make your trading experience much worst especially if you are not yet in the professional level. If they can just learn from their mistakes, like they create a mistake today and they will always put it in their mind and not to do it again then there will be more successful traders in crypto world.
Ucy
sr. member
Activity: 2576
Merit: 401
March 06, 2020, 03:35:06 AM
#7
That is your weak control of your emotion that is at play when you are  Indiscipline and Greedy.
As you try to invest or trade, you go with the planning first, then next stage is implementation, then you just follow the plan,  if you can't that means you follow your emotion and that would certainly lead you to loses.

Agreed.
Planning is really important in Crypto trading. You first of all think things through, develop strategies and apply the best ones to your trades. It is important to consider how much profit is enough, when to enter the market and where to apply your stop lose. If you properly consider this things, you will realize that small regular profits are safer than aiming for big ones. You could still aim for big profits if you are sure of your yourself. Not recommended for inexperienced traders though.
full member
Activity: 1148
Merit: 116
March 06, 2020, 03:15:22 AM
#6
If you think crypto trading is that risky then compare it to binary trading, the difference is marginally, in crypto trading if you make the wrong call you will end with fewer satoshis, not losing the entire chocolate box that happens in binary trading
hero member
Activity: 2716
Merit: 904
March 06, 2020, 03:08:42 AM
#5
That is your weak control of your emotion that is at play when you are  Indiscipline and Greedy.
As you try to invest or trade, you go with the planning first, then next stage is implementation, then you just follow the plan,  if you can't that means you follow your emotion and that would certainly lead you to loses.
member
Activity: 854
Merit: 12
arcs-chain.com
March 06, 2020, 03:00:12 AM
#4
Usually greed is what drives people to the abiss... what makes them gamble away all their possessions, what makes them fall into scams or burn their trading profit ...
People are greedy by definition and in the end the desire to get more money will overcome everything else ...
Controlling these emotions will go a long way when trying to become a sucessfull trader
member
Activity: 756
Merit: 14
March 06, 2020, 02:52:58 AM
#3
Trading is very profitable, I've seen experts doubling their BTC with trading but I get burnt when I tried it out myself, it's better to learn how to trade very well before jumping in or you lose your money easily, it's too risky for someone like me
member
Activity: 504
Merit: 16
March 06, 2020, 02:44:20 AM
#2
It depends on the trading strategy, I don't care about making big money in 24hrs, all I do is buy dip and sell high, sometimes it takes a single day and sometimes it takes weeks, just wait for the time to come again
full member
Activity: 896
Merit: 115
March 06, 2020, 02:16:54 AM
#1
Trading cryotocurrencies is not so easy but very profitable.  majority find it difficult to retain their profit after a successful trade which is mostly caused by greed and indiscipline. When you have made enough money, it's better to call it a day and wait for another day of opportunity. Instead, indiscipline will make you open another trade to make more money which is what usually  lead to  losing the profit you already made from your first trade. Anyone can make this mistake and the most important lesson is to learn from our past mistakes because the mistakes are the lessons.

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