The greedy must be poor - page 6. | Bitcointalksearch.org

Jackl87

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Quote from: luca prieto on September 16, 2021, 04:38:29 AM

Some people refuse to take profits when their coins and tokens are surging so high.
Because greed let people keep on waiting for higher and higher value for there coins and end up selling at dip.
Since price can’t go up all the time.

I am also one of those notorious holder and i often regret that i have not sold my coins earlier but i also have a reason why i want to hold my coins for at least 1 year. When i have them in my wallet for 1 year then the potential profits are tax free if i sell them before the 1 year time frame then i have to pay 25% taxes on the profits and i just want to do that. Of course this decision has cost me some significant profits because back in the beginning of may my portfolio had more than 5 time the value than it has now and if i had sold back them my profit would have been a multitude higher even with taxes, but i don't care. Tongue

avarnet

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I hold the coin for a long time does not mean we are greedy. Because I have consistently own principles in this matter and I also have a certain target for making decisions, and before my target is achieved I will not make that decision so that people think I am stupid or stupid. greedy because they see I don't want to take the advantages that already exist, EVEN THAT'S NOT THESE, and also I'm sure with my decision I won't be poor because of my patience.

bitzizzix

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If everyone is honest I think everyone has experienced what the OP wrote and but that incident will be a valuable lesson for all and make them more acquainted and mastered how the market moves.
because discipline, goals and targets will determine the results of what we do with high consistency, take all events as valuable lessons and also learn everything well so that we become successful and responsible investors and traders.

naikturun

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that may apply to novice traders usually they don't have a target to achieve at first so let the market carry their emotions, for those who have been trading for a long time they set their targets, so they won't sell when the market goes up/down drastically because they have already determined when it will sell.

zasad@

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The simplest strategy is to sell 50% of the purchased coins when the price doubles.
The rest of the coins will become free for you. Then you can hodl the coin until the price grows 10-100 times, if the project is worthy.
Even if the price does not rise, the investor will not suffer a loss.
But statistics say that a lot of investors sell coins when the price of the coin rises by about 10 times.

Ararbermas

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Quote from: luca prieto on September 16, 2021, 04:38:29 AM

Some people refuse to take profits when their coins and tokens are surging so high.
Because greed let people keep on waiting for higher and higher value for there coins and end up selling at dip.
Since price can’t go up all the time.

well it's all part of our experienced so we must lesson learn to avoid such problems again and in order to have a good journey in crypto space .. And perhaps only beginners suffer such situations nowadays, wherein we can say it's because of greediness if you've been here in crypto but still facing the same problem, because it's totally awkward. Lol just imagine despite you don't have any risk management everytime you enter trading or making investment. if i were on that situation I'll quit immediately. Cheesy

goolesby

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I agree with you because Sometimes market conditions can swing in your side so you win most of the trades. Don't be greedy to think it's time to make a lot of money and use all the capital for the next cryptocurrency trading. Cryptocurrency market is the most dynamic market in the world that can change every second. When on a long losing streak, take a break and find out what caused the loss. Also, consider revising the trade amount to prevent running out of the entire portfolio on a losing streak.

so98nn

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That's the first thing one should have on their mind while starting to trade. In fact its not just about trading but also any kind of investment you do.

Peeps do get greedy in the gambling as well. I have seen greedy peeps who lost money on gambling sitewide and then posted their sad stories on the forum. That is the enough and living proof for us that what we should not be doing in reality.

Greed is an emotion that can be controlled with great efforts. When it comes to money, everyone want it more and more. So yeah, if you are into greed then you gonna make yourself poor as fast as water moving out of your palm.

Gozie51

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Quote from: luca prieto on September 16, 2021, 04:38:29 AM

nd end up selling at dip.

That is regretful. If some person wait for longtime to hodl some coin for bigger gains, they should make themselves stronger until the target is reached and not to get into panic when the drop start. It is painful for me if I do that. It is experience that can give direction. Some coins are good project but because there may be fud around it, it can temporarily drop,it is better to research on why it is dropping before the decision to dump.

coin-investor

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Quote from: luca prieto on September 16, 2021, 04:38:29 AM

Some people refuse to take profits when their coins and tokens are surging so high.
Because greed let people keep on waiting for higher and higher value for there coins and end up selling at dip.
Since price can’t go up all the time.

I've known this a long time ago but I also become a victim of greed, I was thinking back then the price can go up further until it was too late, now I'm still waiting for the next round of pumps, we should make a profit when there is a pump it's ok to sell a small portion and buy back when there is a dip than feel depressed in losing your opportunity to sell and make a big profit, it's ok to HODL but when there is an opportunity to make a profit go for it.

asriloni

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It may true but I should remind you that the history has proven that the diamond hands will always become the winner. It doesn't matter how volatile the coin is as long as you're holding legit coin and that's worth to be used as long term hodl.
I do agree with your statement but it's not always happening in our reality. So many early investors of big platforms like chainlink, ADA have become the new millionaires caused by they were doing diamong hand for their investment.
Taking profit was a very good idea when the price of our assets were increasing a lot but sometime it can be a disaster once it will increase even higher. If you're holding legit tokens and you must not feel worry when you're loosing the chance to sell your coin at high price. The greedy will not always be poor. I think your statement was not true at all.

20kevin20

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I'm many times greedy myself and I don't think I fit in the "poor" category but rather in the middle class or so. Also, if you follow big traders (even stock traders) you'd see that many of them billionaires still have at least a little greed and that's how they make money. Assuming everyone who's greedy is implicitly poor is wrong.

iTradeChips

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Well, there are really those who has the discipline not to sell their assets when the price goes high. They have a certain goal that they have in mind and they stick to that goal. Even if Bitcoin and the other cryptocurrencies goes down they won't budge and they will not be affected. Simply because they know the game already and they know how to react with certain ups and downs of the crypto market. That discipline is really not for everybody and not everybody can develop that discipline.

Kemarit

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Quote from: luca prieto on September 16, 2021, 04:38:29 AM

Some people refuse to take profits when their coins and tokens are surging so high.

That's part of human nature, ever since human evolved, we always been greedy, specially when we deal about money.

Quote from: luca prieto on September 16, 2021, 04:38:29 AM

Because greed let people keep on waiting for higher and higher value for there coins and end up selling at dip.
Since price can’t go up all the time.

You can't blame them, as I have said, people wanted more ever since. So they wait for the time to sell until it's too late. So that will be a big lessons to learn for them and a very expensive one. Also, it's hard to time the market, so we don't know when is the right time to sell.

btc78

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Quote from: luca prieto on September 16, 2021, 04:38:29 AM

Some people refuse to take profits when their coins and tokens are surging so high.
Because greed let people keep on waiting for higher and higher value for there coins and end up selling at dip.
Since price can’t go up all the time.

but do you also know that Some greed people are the one who become millionaires in this market?

Because of their capacity to wait and hold they are the one who succeed in their investment as i have a friend that has this attitude , Indeed that he had lose many time because of being greed but one time of getting the desired outcome? now He is already a Millionaire in real life and now stops trading and focus in His real life businesses .

danherbias07

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It happens and was not easy to control. When a price surge is happening you cannot take your eyes of it. You are just mesmerize of the profits you might take if you wait for more not considering it could fall down. Only those experienced trader would go for a quick sell and maybe the rookies who takes profits as early as they could. They call it the "beginners luck".
Greed doesn't mean you are poor, it may also be a chance to stretch your gains if you know what you are doing.

Ucy

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Quote from: Mpamaegbu on September 17, 2021, 03:41:48 AM

Your use of "Must" in the title topic – The greedy ~~must~~ be poor–, makes it sound like you actually know how it will end, and that's regrettably not true. You think those who bought Bitcoin in 2010 and sold off when it touch $10 will agree with you on that or those who bought in Dec 2020 and sold before May 2021? Definitely, not....

I wanted to reply the poster directly to tell him/her not to assume that everyone who do not sell are greedy. There are holders with the right intentions, for example, holders who prefer to hold longterm and support the network. Besides, if everyone is selling at thesame time as the Op, he/she will likely not like the result on price. The intention is what matter though. I guess his post is directed at those with wrong intentions, but they shouldn't be wished that kind of poverty with a "must". .

LogitechMouse

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Quote from: luca prieto on September 16, 2021, 04:38:29 AM

Some people refuse to take profits when their coins and tokens are surging so high.
Because greed let people keep on waiting for higher and higher value for there coins and end up selling at dip.
Since price can’t go up all the time.

I bought Bitcoins when it's price is at 4 digits and until now, I'm still holding it. Can I say that I'm greedy now then because I refused to take profits??

Holding coins for a long time doesn't mean that you are greedy. There are another reason with it. One might be that it isn't the perfect time for them to sell. Another is that they have a plan and a target time for selling it and whatever happens, they will sell at that date.

This is subjective TBH because not all people who are holding for a long time are greedy but you can apply it to the people who just bought coins just because they want profits. Now that you said that the greedy must be poor so those who are holding coins right now are poor because they are greedy like you said in your post??

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Quote from: luca prieto on September 16, 2021, 04:38:29 AM

Some people refuse to take profits when their coins and tokens are surging so high.
Because greed let people keep on waiting for higher and higher value for there coins and end up selling at dip.
Since price can’t go up all the time.

I've been there and done that but I've learned that in the long run that we shouldn't be greedy when we're on this highly volatile market. If you want to take profits be sure that you'll also save up so that you can still reenter at a good price. Always remember that when it reaches the peak, it won't stay there for long and I've seen that for so many times and that's why there were moments just a few months ago that I've told with the top that I think but later on it kept on pumping but, that's still fine for me because I sold still at profit.

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Quote from: luca prieto on September 16, 2021, 04:38:29 AM

Some people refuse to take profits when their coins and tokens are surging so high.
Because greed let people keep on waiting for higher and higher value for there coins and end up selling at dip.
Since price can’t go up all the time.

Thats normal. Some people always really will wanted to sell at a very high price, and yes thats really something greed is involved. If you bought a token with such price, then suddenly it soars high, then its good time to sell it isnt it. But the urge of the holder to sell it at a higher price will always be high as fuck which sometime end up on being not gaining at all end what worse is losses more.

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