Topic: Traders Stop Being Greedy. - page 12. (Read 2813 times)

Another thing I would also like to point out is that some traders are fond of listening to some of their friends who don’t have any good experience or skills tell them which coins that they are meant to be buying in the market. I met one as of recent who told me that someone told him to buy a particular coin and he was going to invest it in it without doing any good research.

When I researched on the coin that he was told to invest in, it happened not to be a good coin and I told him to stay away from it. If you don’t know what to do, it's better that you just go with bitcoin and Ethereum.

One who makes no research on coin to trade just because of thinking that money can be gotten from it so fast is trading or investing blindly,  it is not just greed that makes one to trade on coins  that he/she don't know about but it is also ignorant that can make some to take such decisions. Before planning to get coin it is important to make proper research about the coin, how reliable it is  and how valuable the is.

Crypto is not a place to make people rich in a short time, crypto trading is full of risks, we have to make defenses against the risks that will happen to us while trading. That is, when the risk occurs then we are still able to hold it and are able to continue trading. Most of those who risk trading or lose their money every day are due to greed. They always want more profit, even though the market has given them an advantage. Due to factors that are not in accordance with the initial target, and these basic skills will be a big loss in trading.

The OP's point is that they are the same here which means that, although we have the knowledge to do thorough research before investing, we cannot be 100% certain that our statements will be correct there will be risks that we do not anticipate. Investing is not the same as gambling but both have in common that it is risky and unpredictable, so always allocate investment capital appropriately and be willing to accept risks.

It is not easy to prevent greediness in trading because I believe most traders experience this. When the price started to increase, many of us were amazed and did not try to close our trade instead, trying to wait for the next higher price. Unfortunately, not all our wishes can come true instead, the price will go down without notice. If you can manage your greed, you will not let the chance to sell your coin at a high price and wait for the next downtrend to buy back at a low price. We can have greed, but we should know how to manage it.

Greediness could always ruin our trading journey. Aiming for more than what we have could have sometimes led to a worse scenario of unexpected losses. As for me, it would be wiser to set a target goal and be contented when you have reached it. It's fine to hope for a higher profit but there are also times when we should be contented.

Controlling trading psychology is difficult for most traders. I am a user who has been using the trading platform since 2017, but sometimes I also find it difficult to control my emotions when the market is correcting. That's normal for me, but of course in most cases it will only hurt us in the long term.

The success or failure of traders in maximizing the opportunity to make a profit largely depends on how they have control over their trading psychology. In addition to good capital, I think traders must also have an effective way to control their emotions and psychology.

It's true I agree with you, this issue has even been emphasized many times but there are still many traders who without realizing it turn out to be greedy. Usually they will always feel dissatisfied with the targets that have been set from the start so that they rashly without thinking in the middle of the trip they continue to increase their targets because they see the market continues to rise, but unfortunately the market finally drops again even though they have not had time to sell it. As a result they have to waiting for the market to come back up.

Actually, being greedy is not bad at all but what meant it so bad if we can't control it anymore and become more greedy. That being said, if we can make $10,000 why not? For as long as we can really achieve it and are not too ambitious, for me, that was still okay.
If you will think about money, think about winning, we simply lead to becoming greedy. That is why I don't consider this as one reason why many traders had to fail and lost, it also matters how we manage our traders in general.

Greed is one of the factors that traders fail when trading, if the greed that exists in us is not managed properly, then it will make us as traders
will experience difficulties. Usually greed appears when the market is bullish, traders who are obsessed with big profits will delay selling the coins
they have even though they are already profitable. Because they are too greedy and want to make even bigger profits. But this turned out to be
a problem when the coins suddenly dumped in a fast time.

Greed will also appear when we experience losses during trading, then we decided to double our capital in the hope of covering the losses we previously experienced. Even though it can make us suffer a much greater loss. That's the importance of us doing good planning, in order to avoid emotional
impulses that make us deviate from the plans we have set. Then make the losses that we experience as valuable lessons  due to not controlling
emotions well. We end up incurring losses that should not have happened. Therefore, to understand how to control emotions well, we must not
stop learning, so that we can better control ourselves. And the process of controlling emotions is not easy, it takes patience, so actually  it is not easy
to be a trader. Only a patient and unyielding person can become a successful trader.

Greed comes later, first comes the learning’s. Many people are just jumping right into trading unconditionally. For example they would not set any goals, they would not consider consequences of putting all their life savings. It’s like when they see trading they see lot of money by putting something into it. But they forget it’s crazy world with mathematician around the logics of trading patterns, fundamentalists to give Future prediction on trade patterns. So much goes into it. But newbies will be like put money get money attitude. Lolz

True and that's the reason why i always recommend this wanting to grad to first of all go for mentorship classes, learn and understand the meaning of the word (Trading).
Some don't even know that the little profile you make every 3 or 4 hours is better than loosing all your trading capital, you can never be a Pro in trading untill you master your trading signals, master when to trade, get all the trading analysis before trading, know when to pull out even when your making profit.

That's true and sometimes there are still many people who forget it because basically trading is very complex so it requires preparation be it knowledge, skills and also self control,
everything needs a process so the more experience it will make us learn to be better and we have to believe that

You said it all. On short run trading is indeed like gambling. Even the humblest of the traders is prone to lose all his money if he makes an order on the wrong moment and there isn't really what to do about it. Maybe the currency being used is a good one too, but it doesn't matter, there are no guarantees. Maybe he is buying at the top price and won't be able to sell his coins for a long time or maybe he is selling at the bottom and won't be able to buy it for cheaper anymore... Patience is needed in crypto market and nothing is assured to happen overnight.

Trading works, but on long run. On short run it's just gambling.

Traders should shun greed because it will prevent traders from taking profits at the right time and instead hold their coins for an undetermined period. This greed will lead to feelings of disappointment, regret, and panic, especially if the price drops sharply after rising high. Traders need to control themselves to restrain this greed, especially if he is in day trading, which makes him have to be able to make a profit.

In a proper perspective you are right because just as you are doing daily business in real life and knowing the normal profit expectation of a goods or product that comes gradually this is same way that trading should be. It profit reasonably should be gradually accumulated and if it doesn't go that way, it means we are going beyond what the reasonable trading is and just trying our luck out.

Hello everybody!
Definitely, in trading you should either practice how to trade properly or practice yourself psychologically too.

 Greed is a major barrier to trading. Most of the traders decide to trade only by looking at the income from trading. A greater part of traders don't have any idea what they're doing in any case beyond trading in light of information and individuals' perspectives on current market feeling, so advising them to quit being covetous is similarly pretty much as compelling as attempting to advise a player to quit betting.

Greed is one of the psychological factors that must be controlled and it is against several measures such as fear, suspicion, anxiety and other psychological factors that affect trading decisions and make the trading strategy extreme because it depends on inaccurate variables.

The best is to learn more about the basics of trading and how to control because to stop being greedy means to stop taking profits. You cannot make a profit if you are not greedy, but how to control this emotion is what turns losses into profits.

A greedy trader is a gambler. No matter the strategy used in buying or selling a coin once there is an outrageous profit margin or expectation then the strategy used for the trade is pure gambling because at this point your research might not be enough to guarantee profit. Investing in a coin is like every other business being realistic with your profit is the only way to account for your strategy and limit greed