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Many people who enter the world of crypto trading start with their greed because they see people who have had great success through crypto trading.
greed makes them rush to jump in and start trading without exploring it first. and they lose because of their greed.

Are you one of those who have experienced it?

me: yes

early in my career I went bankrupt because of greed. But in the end it taught me a lesson to be able to control myself from greed and to prioritize common sense.

thanks for reading.
please input criticism or suggestions.

While I can easily understand that greed can get you into the world of crypto, it can easily be seen as easy money (although it's usually incorrect), I don't understand how can one become "bankrupt" from this.

I mean that this would also mean a huge degree of irresponsibility. One has to know that he cannot just put all his money into one investment without doing some research. Then, in order to be at such a great loss, one has to also sell his assets when the price is low. While newbie trader wannabes can easily FOMO buy (buy high) and panic sell (sell low), this should be not done repeatedly (one should understand that he's done wrong and start learning) and with small funds (funds one can afford to lose). Otherwise it's not trading, it's gambling.

On the other hand, if you bought high and didn't sell yet, you have lost nothing. Of course, this means that you may recover your loses or lose more, depending on how the price evolves and the moment you sell.

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Since you asked, I'll also tell that while I was newbie too, I've also done may fair share of trading without being completely aware of what I'm doing. What I've lost was mainly my time, since I was smart enough to do that with rather small funds. I've got good trades, I've got bad trades, the overall balance was positive, but the wasted time was big, especially because after the learning - small funds period I didn't go forward to actual trading-as-a-business, instead I understood it's not for me and I've dropped it.

You can see it as a criticism (irresponsible, wasted more money you could afford), or you can see it as something you can learn from. Your choice.
Good luck and keep in mind that trading is not for everybody. Heck, even HODLing is not for everybody.

Greed is the extreme emotion that might be associated with gamblers more than traders. The ones who actually run for long end up being diligent more than greed. Without greed it is not possible for any speculative market to run, be it stocks or crypto.

But how much you are losing track of due to your greed is what you should keep in mind. Trading should not be the only thing in your life. You have to keep time for friends and family related work, exercise and be healthy and keep trading. Doing these with a balance keeps the mind sane and greed under control.

Be happy with what profit you have made and strive to build on it. Dont chase losses, because losses are losses, they will not come back. However if you are facing difficulty in controlling your impulsive behavior, you would need professional help than posting on a forum.

One of the many triggers here is social media, where some content creators or influencers are only posting the success trades or just manipulating just to make a lot of views.
Most of the victims here are newbies, then the greed comes here. I already experienced this when I was a newbie, that's why I am glad that I am still here, still doing trading, fixed those mistakes at the beginning is a MUST.

Greed is sort of psychology types and it has effect on your emotion then actions when you trade or invest. Consequently your initial plan will be broken because of uncontrolled psychology or emotion.

However, most of times, when you are greed, you make bad decisions which in turn will put your position under margin call, liquidation, etc.

The hilarious fact is people are greed when they are poor and they use leverages when they want to get rich. However, this approach only makes them poorer.

My advice is oppositely: If you are not rich, don't use leverage!

Because when you are poor, you will go to bet with high leverage and don't have enough collateral in order to keep your position safely to face with liquidation, margin calls.

 Correct! and that always happen at first but after all your money will disappear like a dust especially if you're a newbie and don't have enough knowledge because greediness always the main problem on that situation. So if you're newbie always remember these 3 most important things such Risk management, discipline and plans to follow because without these its useless..and your wasting money to be honest.

The fact that greed is the cause of money loss is a well-known axiom. But most often greed manifests itself in the fact that the trader is waiting for an even higher price and does not fix his position. But in the end, he closes his deal at a loss, as the price of the coin unexpectedly decreased.

Partially true on which most people does have that kind of mindset on whenever they do see someones success in terms of financial then they do really thought that it was easy to achieve and its true that noobs

would be particularly minding about this stuff and the reason on why they jumped into trading or crypto investment but once the reality do slap into their faces then this is where self realizations do happen.

Dont let greed overcome you or else you would be fucked up because this is something that cant be achieved easily if you have done the wrong thing.

Being greedy is too risky, in trading you should always go according to your strategy and not based on your emotion. Many are losing money because of that greed, better to stop doing this if you think you can’t control yourself anymore. Greedy will put you to nothing, don’t wait for that moment and start doing the right thing.

I don't see the main point of bankruptcy is greed which I think there are too many factors to consider when you experience a massive loss in trading.  Though yes, greed isn't a good practice in trading and we should have under control of this emotion and should have a mindset of focus on trading.  Trading isn't an easy way of making a profit, there's a lot of strategies and skills that we must be considered before thinking about the potential profit.  If you don't have those skills and knowledge, it seems you're dreaming about how to fly without wings.

Always remember this, spend the amount that you can afford to avoid that you've said about bankruptcy.  If you're lucky enough, then trading is the best for you.

Greed
Lack of Knowledge
Impulsive Emotion
FOMO

These are main behaviors on where these newbies do really experience it first and as other members said that on  the time that you had faced up reality
you would surely realize that things on your mind are totally not gonna happen when you do already deal with the real thing.
When greed controls you then expect unfortunate events.

That's a wrong perception. If greed accompanies your learning it won't lead to bankruptcy. It gives you learning, because it is the good about trading. You'll experience loss and lucky ones make profit. Gambling is the one where you'll experience bankruptcy if greed gets accompanied. With trading you need to have the mind to analyse and choose the right one. Because, most of the users go on random choice than making a research before investing.

At times investing on shitcoins with the hope of making big return lets you go bankrupt, because there are coins that have been sold on presale and never gets listed.

What I lost more was time than money tbh. I was running like a headless chicken when I first started. I was very frugal with how I started with my trading, I only traded low amounts together with only going for very famous coins but I didn't know jack on what to actually do after that. The basics of when to buy, sell, etc, were lost on me and it took me a long time to actually understand what they even mean in the first place. I don't really mind losing money to learn trading, it's like a learning fee, but I do mind losing money due to not understanding what the hell I'm doing. 

Bankrupt as in all your life savings included? If you use all your money for the things that you know there's a high risk involve, that is not greediness but rather foolishness since you didn't do risk management. There's a time that you need a greed to have a huge profit but you should allocate only a certain amount of money by doing that. Foolishness is when you all-in without thinking the possible repercussions of your action.

Greed is part of a human's behavior, you cannot just took it away easily but definitely you can control it. And once you are greedy because you want instant and huge profits, without investing on the amount you can bear to lose, then you know exactly where you are heading to but certainly losses. Of course since you are in high risk investment, then you should set a limit. Trading is good and could give good opportunities to make profits, but if you trade with greed, then it will only make you a loser in the end. So never trade with greed, that's the basic in trading.

Too fool for people to use all of their life savings for something they didn't know since this could turn all they have to ashes and this was proven by many many times and Its so dumb  for other to do certain risky action trying to double or tripled up their money in quick blink. Maybe the best time to put greed into action is by holding bitcoin for quite long time when you buy it at the dip since for sure you will be rewarded on saving it for long years.

Bankrupt? Do you already use all of your money including you've sold your house, vehicle precious metal etc? If so it's bankrupt. While if you're only using some of your money e.g a month salary, you're not bankrupt since you still have money to cover up your daily expense.

However in trading, lose is your friend so don't scared if your trading aren't made any profit. If you're not comfortable, better to invest Bitcoin only and not the shitcoins.

Yes, my honest answer ;D

I already have that experience many times before and it makes me can not make the top profit from the top price because, at that time, I want to make a bigger profit. I forget that the price can go back to the lower price and make me lose the chance to sell at the top price. After the price is down for some level, I realize that I must sell it right away if I want to make a profit, so I can not make the biggest profit. But that is okay for me and I realize that is because of my mistake.

The main reason is that everyone in now a days want to earn more and more in less time, which is a bad concept in my opinion because success come with the time , learning something new and get experience in that field requires time which most of the people don't know. And that's why being in a hurry most of the people got loss.

One way would be to put all the money he borrowed in an investment fund that guarantees 25% profit in 24h. But since the OP is referring to trading probably leverage is the only culprit, you think a coin would go to the moon because of random dudes on Twitter or pump groups on telegram and then you're left with everyone mooning you and penniless.

Of course, it would have been far easier if OP would have actually explained how he/she/they went bankrupt, but...I smell a merit fishing scheme than some financial advice, especially based on past history.
I'm also curious about this "bankruptcy", and I'm wondering if he even knows what that is.


Losing money =/= bankruptcy.


Yeah, greed is the culprit, greed is making you want to make money when you lack any knowledge of the way you're planning to use to make that extra profit. While you can blame the wrong actions that triggered the loss of your lack of knowledge it was greed that put you into the situation.
If you make an accident driving a truck with no license you can blame the lack of experience, but you have to also look a few steps back and see what made you drive it in a first way.

That's why I don't daily or even weekly trade because I know my emotions and my views would take over and I will bet on how I want things to happen rather than what I think they will. One has to know himself better than the markets before starting risking money.

Greed is the big problem of traders. Sometimes you delay for more profit but lose the little you got and trying to recover will cost more pain to you. Well as a human being, greed is part of us but we can try harder not to allow greed take us back to level we have gone past. This will be taking us backwards instead of progress. Apart from our greed if we can take care of emotion we can succeed better.

Of course that has happened to me and with the most us. Crypto is a volatile market and trading without having a good experience of without doing proper research often ends up in huge loses.
I have made such loses in the beginning too but as I kept losing money it made me realize that I should trade only after doing proper analysis and setting my targets.
Even after setting the targets it's not necessary that we will get profits which is why we have to do proper risk management as well.

It's no secret that greed is the cause of human destruction...

I see 99% of people who go bankrupt in terms of gambling, trading or investment are the result of their own greed, learning to manage greed from an early age is a good thing that everyone must do so they don't regret it later.

Leverage is definitely one of the main reasons why people go bankrupt over crypto. I have seen way too many people who get a loan from a bank and use that to do leverage trading and end up losing all they have. This could sound very silly and idiotic to you but unfortunately there are still people who do this type of thing. I do not know why they do it, and how they recover from it but I have even seen people who commit suicide because of the financial situation they put themselves in.

The saddest one was this one guy who sold someone else's house, and suppose to give it to that house owner, and ended up doing leverage to get rich beyond his wildest dreams (imagine how much you could make if you are right on a 100x leverage worth a house, probably tens of millions of dollars) but he lost it all and he committed a suicide instead. Just one idiotic move and his life was over. So, bankruptcy is very much real in crypto, for those who do stuff they shouldn't do.

Greed is a bad attribute of any trader whether he/she trades with leverages or not. It's outright bad. What's more interesting is that it's a common emotion that traders feel in the space. It usually happens when you've the opportunity to get something out of a trade and you start feeling like there's room for more and it usually ends badly majority of the time. So it's just best to have a plan and stick with it regardless of what happens.

Yes greed and fear are the reason why something like 1% of people make money in trading the rest make nothing or lose a bunch.

When Bitcoin was at $69K many people were in profit, especially those that bought around $20K last year. However everyone had dollar bills in their eyes and thinking $100K that nobody took any profits and now they are debating if they should get out or not. Most won’t until it’ll go back to their break even price and somewhere in that area it will end up reversing.

This is why when people are greedy you need to be cautious because normally it means a top is around the corner just like at $69K.

Yes, I have been bankrupt because of greed

and yes I lost all my possessions including my entire life savings.
I have only the things that I use and that my wife uses. I even sell laptops. and all I have is a cellphone at that time.

I even went back to live at my parents' house.

when greed has taken over you then your common sense will become dull, the mind becomes unclear and far from calm.

maybe those who have experienced this can understand it.

Greed should not be eliminated but must be controlled. That's the experience I took from my personal life.

and the unique thing about people who are controlled by greed is "he will only realize when he has lost everything"

but I am a lucky person because I still have a family who continues to support me so that I can rise from bankruptcy armed with invaluable experience.

now that bad memory has turned into a very valuable experience.

and the lesson is "don't start everything with greed because it will put you in the dark, you will forget your common sense, you will forget your knowledge, and you will forget to be careful. but don't get rid of greed but control it And don't let him control you."

Greed is never been recommended or something you should really take in control whether you are doing investments or doing gambling because this would really result into disaster if you do really let

yourself get dragged along with greediness inside you specially when you are aiming on making profits in short term.You would really be that impulsive when it comes to that
which would result into bad decisions.

Be sensible on your actions and be aware on what you are doing.Dont rush up things and taking that slowly but surely kind of path.

This is definitely not the case for many people; yeah there are people who switch over to long term trading after few losing experiences in crypto trading due to high volatility. Unlike any other market, crypto trading will be a definite profitable one in long run which makes things easier even for greedy people. Your greedy may lead you to bankruptcy when you are running out of time (like liquidation reasons) but when you trade with no-time limit, your greed may help you to achieve what you want.

But, 90% of traders do repeat the same mistake again and again which includes multiple bankruptcy as well. I like to suggest you to go for 60% of your capital into long term and only with remaining you may go with active trading along with your prioritized common sense.

Well, its definitely hard to control our greed since most of the time, we are overwhelm with emotions and so we let it carried what is on our mind. But if you trade with full of greed as your motivation, expect that you will find it hard to trade successfully. Maybe don't be too emotional when you trade so you can focus on your strategies and attain your goal, because if you cannot control your greed in the first place, i guess even if you have been trading for years, it will definitely won't work on you.

I definitely agree with you.

Greed can only be the reason for someone's bankruptcy if what he do all the time is repeating the same mistake over and over again, instead of learning from it, he decided to embrace it and stand strong for his trading technique hoping that it will give him profits if he will stick to it, but that's not how it works. Trading is a very broad profession, that you need to be very versatile in what you need to do in order to always gain profits.

You need to look for different angles to recuperate your losses to avoid getting bankrupt. Pride won't gonna help you to be a successful trader, but accepting your mistakes and learning lessons from it will do.

Greed and uncontentment are the reasons why we lose a lot in trading. We're always advised to take control of our emotions so it wouldn't control us because sometimes, too much excitement and aiming for more than what we deserve could only result in regrets. As for me, it's fine to aim higher but we should also know our limits especially if it's beyond our skills or the capability of the coin that we're investing with.

Not only because of greedy that sent people into losing or bankruptcy, but it was also because they are too impatient and so aggressive which they can never think quite good but always in a hurry.

I can't figure out if I have in that situation. Maybe I was not greedy but somewhat impatient until I realize that it was wrong and I change it. Our experience is always a lesson to learn and that experiencing failure means a lot for our development and self-discovery. That is why I don't make any regrets when I lose but I use this to become knowledgeable and to be wise in making decisions.

I have never heard of somebody from my friend's circle or poeple I know or interact with or somebody at least from my town that would do such a thing. Of course, I heard in the news about poeple doing so but not a direct or at least 3rd contact. On the other hand, I think I have heard of a dozen who have lost a lot of borrowed money on gambling although not a single case of going straight to suicide or something nearly as worse, losing money they couldn't afford to do so, yeah, especially in roulette games in those new casinos that have popped up in nearly all malls in the country.

Probably the complexity of trading or the extra steps needed has kept a lot of poeple safe from losing a lot of money, those who couldn't figure up how to trade were easy prey in the market.

I don't understand how would somebody borrow money taking a risk and multiplying that risk by x10 or x50 on leverage, I understand risking money on leverage, any investment is a risk but not go 200% in when one event, like the one we had a few days ago can ruin your life completely. Is it greed, desperation, hopium, who knows??

We will never be good traders in the long run if we don't know how to deal with losses in the start. We are losing maybe because of greed that we find it hard to control, we tend to be more impatient and impulsive, and we are not using effective trading strategies. All of these could contribute to our losses, but if we can change them and focus on our own goal in trading, i think we will be able to minimize losses. Greed is the most common factor that make us lose, so as much as possible, we should learn to control our greed if we aim to succeed in trading.

This is where experience do sets in  and you wouldnt really be able to handle out these situations if you wouldnt learn from your past mistakes and this is inevitable.Greed is always been a bad thing
if you do tolerate it or making into some certain extent on where you do set out goals without minding about the risk behind.

You would go bankrupt if you dont mind or wouldnt tend to be aware on what things are going around.So talking about investment then you should be keen on any angle.

Dont let your emotions control over your decisions and this isnt something easy to be done.

I do not want to sound like Gordon Gekko but if the topic is about making money then greed is actually quite good. Greed by doing something shady is definitely wrong, you should not be doing anything that is illegal or anything like that just to make money, for example insider trading doesn't sound like it hurts anyone and people do not care about it being a crime but it is still a crime.

However, if you are in the crypto world and want to make money by investing or trading then greed can be good. Greed doesn't mean just wanting more money, it also means finding ways to make more money, greedy people do not just hold things and hope it goes up, they also calculate when to get in and when to get out as well and finding fundamentally good projects as well. Use that greed to your advantage and you can turn that into something that allows you to profit easier.

That is called obsession, it is worse than greed.

Not bad, you learnt your lesson.

Greed for anything should not turn into an obsession is what I understand.

Any emotion for that sense can draw a moral human into a dark place. But it is also important to be reminded that these emotions are a part and parcel of life and they make a human. From what you have said, I hope you are in a better condition than what you have been previously.

The nature for taking risks and attempting to make money is hardwired into humans. It may not work out for everyone hence not every risk taker can be a good trader. Not sure about you, but I have enjoyed trading between bulls and bears and I still do, but I dont allow that to be the only reason I am staying awake. That is more of a hobby for me and if I make a profit out of it, good for me.

Not everyone can set up this type of mentality, and it is not their fault either.

@OP and for the other newbies in trading. No one forces you to jump into having a good result as you start out. Expect that you'll have your worst days in trading but don't be discouraged by that.

It will help you realize that you're going through the normal process of being good in it. As you learn the process, you learn to avoid being greedy because it's not going to help you out go further from it and at the same time, you're learning that trading isn't easy.

there are so many novice traders who are still very difficult to control their emotions so they are not greedy, including myself. In my opinion it is a very difficult thing to control in trading because basically humans always want more than what they have achieved, and of course when they are controlled by greed, many mistakes will occur which will lead to bankruptcy.
I think that what can change that is my own experience, where I have experienced it before I traded full of greed after everything was destroyed I realized and started trading again without greed because I know what will happen again if I trade without being able to control myself for greed.

Well, our own experience will definitely teach us lessons that will motivate us not to do it again. But for those who can't get rid of their emotions and still trade with greed, i think they will only realize the consequence of their action if they will end up trading with huge losses. Yes, its hard to control our own emotions and hard not to be greedy, but if you can't be able to do that, then trading won't definitely work on you even how many years of practice.

Most of us would really learn up things when we do experience unfortunate events and this is where people do learn but its not necessary if you could able to avoid it on the first place with just reading up

others experiences  which is a must i must say because you would really able to avoid things when you are aware but there are people who dont really care at all on making out those simple efforts.

Greed would really be always putting you on big problems because having this kind of behavior will not always that recommended.

Well, I've never kept in my mind that I can get rich from trading in a day but I've experienced it when I invested in some projects that promise me to give 200% ROI in a month and in the end it was a scam all along. From that day I never invest in such a system that gives me huge ROI rather than searching for a huge ROI its better to steady increase with normal ROI in a year and keep my greed from taking my mind to repeat the same mistake

Getting liquidated and then losing all your capital are frequent events for all emotionally unstable traders. In my opinion, such traders are not fit for live trading at first hand as they are still lagging in practice hence they must switch over to demo trading to gain control on emotions and must get practice to risk management procedures. Otherwise, they might need to face multiple bankruptcy situations.

Could you please put some more light on what are normal ROI producing system that you still consider. Never trust into anyone's promises. Just invest into bitcoin and enjoy 1000% returns every four years.

Yeah, there are misconception about the 100% loss in trading like it is happening only in derivative markets but practically even in spot trading, it might happen. So, getting liquidated might be associated only with derivative markets and in spot markets, you buy a coin for example and then you move them into your local wallet or keep with exchange and you hold for some time and in between time, if that exchange decides to delist that coin means then you cannot get profits anyhow but probabaly you may recover around 1% of your capital. This had happened to me with docotoken (MTC token, promoted by McAffe).

I bought without any technical analysis but after getting know about its fundamental things and when Stex exchange delisted it, I was literally bankrupted. I did not book profits when I was into profits and I expected more profits due to McAfee's involvement to this; this way, my greediness made me to pay the fees :(.

I doubt that in spot trading you could get 100% loss that easily. I mean how would that happen? The only possible way would be the coin going to zero and not having any value at all, which is a very very rare thing and not really valid for most coins that we know. Like for example not many coins listed on Binance will be going to zero, hasn't happened as far as I can remember.

I am not saying that it is technically impossible, but just unheard of. Obviously if you end up getting some low cap shitcoin with shitty person promotion then you will end up with zero, but it is not going to be available for coins that are high up there in the ranks.

Anyone or anything that promise out too good to be true returns then it would be automatically considered scam 200% in a month is achievable but only on doing scalping or day trades but if you do talk

about trend or swing trades then it couldnt really be possible for you to achieve on thats why common sense is really crucial into these times and dont let yourself get blinded or easily
to believe on because in most every aspect you would really fall out to the pit if you dont make yourself aware on what are things been happening around.

As we all are very much familiar with the best quote Greed is a curse and we still knew about that greed with more and more money to make it in less time, but the way investors treat is that they should make it very clear in a first way that selling a little amount and crying after that won't do anything, so mostly holding is a better choice in trading.

This is nothing really new, a great deal of the people only work at their jobs because of the money they get and not because they are actually interested in what they are doing, unfortunately this leads to a very low performance and those people never really advance much on their careers, however if you are someone that actually likes what you are doing then eventually the money will follow as you will be willing to dedicate way more time than the average person and this will bring an improved performance, from which making more money is inevitable, and something very similar happens in this market to traders and investors.

I'm not going to believe it was because we are greedy that it cause the bankruptcy but it was because we are too lazy and the reason for not performing so well. if we saw a person who is performing great, delivering an extraordinary service it is just because he is happy with his jib and he loves doing it as normal for them which is very unlikely when we just do this for the sake of money. Well, that is very common and of course, we can't expect such a great output but probably failure.

Perhaps, greed can be found in all of us, maybe some people are too greedy that leads to doing not good. What is most important is that we can decide which one is fair and which one is not. That seems not so hard if we really think about doing good and to know our limitations, as these too greedy people will do things in a harsh way just to fulfill their wants but unfortunately, they usually ended being a loser.

That is very important to know our actions and think if this is acceptable or not. As to let this emotion goes out, that is hard to stop.

Well that is a human instinct and has existed even before, the urge of making a profit is not that wrong as long as you will not follow your emotion while in trading. That is why when I was in trading, I have a trading plan and I stick to it whatever happen. Because if you don't have a trading plan, the result could be out of emotions and greediness will follow. We should have also control ourselves to that human instinct though we are a human because that will lead us from bankruptcy.

But most of the time, that plan is ignored once you are already in action.
You tend to follow what you feel at that moment and that is indeed a mistake.
You should also assess your actions here, because if you will not review what you have done, you will incur the same mistakes again and again.
Greed will always be a part of our life, but it is on us how we will lessen or avoid such virtue to overpower our emotions.

Being greedy is never bad as long as you know how to control it especially when you are trading. Because sometimes, being greedy helps you to motivate yourself to make an extra effort so you can reach your goal. But since trading will be more profitable if you can leave your emotions behind and as much as possible control your greed, otherwise it will only ruin what you have started in trading. And good thing that there is a trading plan to follow so that a trader will be guided, but definitely stick to the plan as changing it all of a sudden might put you into losses.

Yes in here but to be honest i can control how much capital that i use. Only can't control my emotion when market start to be bad. Mostly i do cutloss for my investment, and then maybe if counted, how much my profit is less than how much i waste in bad trading style which is i panic and then always to rush to sell my coins although it is on lose position.

Winning and losing in crypto is a state of mind.

You either come in with a sensible head and hodl what you can afford to, or you try play the market. I've seen many cases where those who play the market chase their losses not because of greed, but rather because they are too far in, or simply because of pride.

The ones who really know what they are doing are being greedy when the market is red. Seems like a shitshow at the time but over the last decade it has always proven to be the way. This is not financial advice.

I think it nice to see greed as a negative weapon in crypto trading, it's good to be greedy at some point but having an excess of it is what causes a negative result and the best way to start something is to know the basic aspect of it, know what best for you before doing it. This will also help prevent the excess of greed.
This is what happened to the OP, she understands the basics of trading and the best form of trading that will be good for her.

When you said "trading is not for everybody" I totally understood because of a truth, I've come to realize trading is not for me, even with my knowledge, I hate the way I always feel when the Market goes against me, makes me feel like if I don't stop, I might have a heart attack one of this days.
But on the other hand, I love to hodl, even when the market is down, I usually don't have this urge to panic sell like many paper hands do, so I decided to stay away from day trading for the moment.

So what am I driving at,? What am trying to make clear is that everyone should find that which they feel more comfortable with and that which they can handle better... Don't force yourself to trade when it's obvious you don't like it, if your only reason for trading is to make money, then you are likely to make the money but loose much more money, trading should be fun, something you feel happy doing, if you are trading and you feel anxious, uneasy, unhappy, uncomfortable, angry with yourself and people around you, most especially when the market is against you, then please stay away from trading, it's not for your kind.

When traders are unable to identify what is the level of greedy to be termed as good or bad under market pressure I guess it would be always better to avoid being greedy while trading. In my opinion that greed is always a negative factor even it helps you to maximize your profits some days on few trades (I mean you cannot expect greed to be helping you out in your favor).

If you still prefer to have remain greedy in your trades for some extend like maximizing your profit to keep running then you should go for trailing stop-loss for that and this way, you may not lose your unrealized profits out of being greedy.

This has ended the career of a lot of traders. Too bad that a lot of them don’t have sound knowledge about this crypto trading, and the only thing they know is the story of millionaires that were born through cryptocurrency. So, they just think that it is very easy, forgetting that there are millions, if not billions, of people around the world that are also doing the same thing and has been doing it for a very long time and still has not become millionaires. Anyone that let’s their greed take over them is definitely going to lose the money they are investing, because every action they will be taking will be because of greed.

When you do make yourself get dragged with the hype into those who had been become millionaires then you would really be having this kind of mindset without minding on how to handle up yourself
on possible experiences that you might face on thats why research initially would be always the key and dont make out rush up decisions which would really cause up some trouble later on.
Dont let your greed control you or else you would really be experiencing those common problems which you would really be regretting later on.

That it talks about jealousy and greed. And that person who carries that kind of mindset will surely not going to succeed but end up losing. It can be found very common around us and sometimes they are obvious but trying to look at in their situation, they look like a hungry animal wanted to bite us.

That kind of person is hard to change, as long as these mindsets live inside, they'll die keeping those things. That is why we have to know our limitations, tried not to surpass them, and accept reality.

Greedy in the first career is normal for me. Not only you, I guess there are many other people who experienced the same as you. The problem when you are still a newcomer is not only about self-control but also related to lack of knowledge and experience. When you have sufficient knowledge and experience, I am pretty sure that you can be easier control yourself because you know already how to trade properly. The more time you spend for trading, you will know more about what don'ts and what dos in trading.

Yeah, experience may get you control over your emotions still how mush being disciplined will determine the final outcome. I have seen even experienced traders do face losses after failing to book profits around target levels. They are experienced and they are good in technical analysis but when they are confident about the continuation of market trend, unexpected market fluctuation lead them to lose.

Yes. We need to adopt according to market conditions; if we were able make 10% profits last year means then we should not expect the same now as well but need to exit whenever TA indicates. Being greedy is inside devil which may lead us at sensitive market situation which may not be avoidable even for experienced traders.

You make a good point. I always compare crypto trading with gambling because they almost involve the same risk and decision make contains both risks with profit until the trade is successfully initiated.
Meanwhile, I believe a crypto trader is never genuine if she hasn't understood her trading limit and how to control her greed level just like a gambler need to control her buzz.

Most of the people who come to trade make a lot of losses in the beginning. This is mainly due to their misconceptions about trading and being influenced in some way by some influencer. If you can't control greed, you won't get good results in any sector, especially when it comes to trading.

My trading journey started in a very bad way because at that time greed was difficult to control due to lack of knowledge about trading. Now I am very careful about the reality.

Greed is not a good thing so many individuals loss their money due to greed. I think that there is not such a need to be in greed because that will come to you for which you are working hard. Some people have profit  but they keep their coin and does not sell because they are such in a greed that they think that they will make more profit so in this way and manner they loss their profit too.

Not only in trading, but everywhere greed causes a disaster. Greed can destroy someone in few seconds. You are correct, in trading greed can cause major financial loss (i wouldn't say Bankruptcy, until you did something very messed up). FOMO is one of the result of greed. They see a currency going up, they end up investing everything at the wrong time hoping they will get rich overnight. But that never happens. They invest in shitcoins hoping that they will hit the jackpot, but that rarely happens. The same thing happens with gambling. They get too greedy, they end up losing everything they have.

Just inspire don't be greedy, nothing will suit for everyone if someone is successful with doing something it doesn't mean we also can be successful by doing the same. Make yourself familiar with cryptocurrency trading and just enter it into the actual capital as investment until that do it basis on the trial and error method. If you are making profits meanwhile losing as well then you can correct your mistakes and become successful in the future or if you never become successful no matter how much efforts you had given then better choose other options like HODL which is easier and more returns.

Greed has put many people in vain. When a trader is dominated and clouded by greed, the decisions that will be made are those of somehow ignorant of the risks and impacts of such actions because the sole focus is on the reward that was anticipated to receive after doing such. And this does not do good especially in crypto market where everything is volatile. But, sometimes they say that good greed is what will motivate a person and lead to greater success. I think that this would be applicable depending on the capacity of the person to handle greed and ability to make good decisions at the same time.

Greed is the most important factor that is responsible for your loss because when you don't have any satisfactory point of profits then you loose all what you have invested.We have seen many people losing their funds as they were greedy enough to dive into the ocean of making more profits but end up losing all.

When you become over greedy then you don't make any research and start losing all the amount slowly so this must be avoided at any cost but still we see many people doing the same mistake and end up in that rabbit hole.

Last 2013 I didn't know crypt at that time and started trading FOREX.

I saw a lot of hype about Forex that days and how much they said they've earned. Which is actually really impressive
and thats when my greed kicks in. I invested almost 30% of my net worth and started trading.
It all starts good, I'm earning decent amount until after 8 months and
I said "well I can earn more just by increasing my open position".

I didn't think that time about R:R ratio and yeah that's when I lose my whole 30% net worth. I was able to withdraw some like $20  ;D ;D ;D

I agree on you. Although it is really known that if you trade with greed, you'll end up losing all what you have started. But there are instances too that greed may sometimes lead into a more fruitful success because you will be doing your best because of the rewards that you will get if you will end up the trading successfully. However, in most cases, its still not advisable to be driven with greed if you are in trading since you will lost your focus on the real goal because you are eager on the profits that you may get.

That is a common scenario among most traders.

Traders do get massive profits out of greed occasionally but they are taking that as a "perfect example" and might be following that same kind of waiting time for all other trades as well which mostly getting them losses in the end.

This is the reason we must have a generalized opinion about greed like we should never allow greed to dominate in our decision making otherwise we might be misguided by a wrong example one day or other.

The profits that we are making out of emotional failure with which can be panic or greed should not be considered as an achievement so that we will always able to stick within our predefined trading plan. Only by following our plans, we could get consistent profits.

Greed is very dangerous, Newbie thinks the trading as gambling due to their greed. They think that today they will put 1000$ tomorrow they will get 2000$. They don't even know what the project is about in which they are investing.
The most common mistake of newbies is they buy at high in FOMO and then sell at too low in panic.

Even us when we are just starting do really have that kind of mindset on where we do believe that we could able to handle out the market or simply those trades on a simple manner

on where we do thought that it would really be just easy to make money but once you do able to taste up the reality then you would really realize that it isnt really simple as it looks.

You might see those profitable traders but you dont know on how they do able to get out and make profits on this very unpredictable market not only focusing in trades
but on overall investment.

If we have prepared ourselves before trading, then we should know by then that trading with greed will never end up profitable. It may result for some temporary profits that will boost you to get into another trading, but its always known that at the end of it, greed will only make you fall into losses. And if you have considered knowing the early traders, they are less driven with greed so most likely, they end up successful trades. Totally different with what we have observe with newbies right now since they are more on a FUD or FOMO and when the price gets dump, they resort into panic selling that makes them total losers in the end.

This is one big issue many newbies have, instead of setting themselves goals they can actually reach with their limited experience and knowledge they instead set themselves goals that even the best traders around the world will have a problem achieving, so from day one they set themselves for failure, and as long as they do not change their mentality and what they expect from the market then there is little doubt they will accomplish none of their goals.

Since their mentality is to get rich fast then the greedy will control their mindset so they wont satisfied just with small winning. They should set their mindset if they're new they should grateful for not getting lost from trading and dont feel down if they lose money from trading due to lack of experience.

Congratulations to the OP who has managed to learn from his own mistakes in the past. Yes, I also have a story that is almost the same as yours, and I also rose from my mistakes, and here I am as a crypto enthusiast who earns daily income from it.
Greed is misleading in the trading world, so be careful with it. Our main enemy is not the others, but how we conquer ourselves, bravo!

Well, I count myself out. That wasn't how I came into the crypto space. Mine was more of curiosity than anything else because as at then I didn't even know anyone who was into cryptocurrencies let alone one who acquired wealth through it. My curiosity was occasioned by bewilderment as I wondered how a single Bitcoin could be more than the much treasured dollar in that magnitude. I think Bitcoin traded around $750 then. However, I think greed is an elementary part of man. It's innate and shouldn't be viewed as something out of place. It's like ambition. Ambition becomes a problem when it becomes vaulting just like greed which also becomes a problem when it becomes excessive too. Advice will be for traders to control their greed. Again, greed cuts across all facets of life. It's not just trading alone.

Conquering someones greed couldnt really be able to achieve if you dont actually able to experience it and would made out some self realizations via those real experiences.

Greed could really mess up your entire financial state if you dont know on how to handle up your finances well thats why its really crucial on considering it or else you would
face up some problems.

Just like on that gambling activity on which when on the time greed comes it then you would surely be ending up on a big loss.

As in the above post when greed accompanies automatically the end will be big loss. If the same happens with gambling then it could cause bankruptcy. With trading it is always good to go with the right coins and if you're holding some potential altcoins with very slow growth, then you should be able to make some minimal profit out of the market fluctuations than waiting for large margin. Following this one can stand out of big losses even when invested on unpopular altcoins.

a common thing that happens when we trade for the first time, greed becomes the biggest enemy in us. sometimes we have made big profits, but seem never satisfied, so crashes occur and we experience panic. I think things like this are experienced by many novice traders. therefore we must improve ourselves gradually

Its not unusual for some newbies to think trading is easy and there's no need for deep knowledge to understand it, because of what they see on other traders who managed to earn huge and succeed as a trader. Sometimes we need to experience failure to realize our mistakes like being greedy to earn in snap.

When I was a newbie I also have experience of losing my capital (though not to the point of going bankrupt) but that experience teach me to do better and be serious if I really want to be a trader who gain more than losing.

So newbies need to take time learning to better understand the nature of trading. Dont think its easy to earn as a trader because it depends on your plan and strategy.

I agree with you, it's a common thing that happens to everyone when they start trading... when things look "easy and simple" and we think we can make a fast profit without much effort! I guess we all go through that stage sooner or later, the only question is how many mistakes we need to make before we learn!? And for sure some people learn it faster and some never learn!
Improving should never stop! It's something we often forget, in the second we think "we know all" and it's the moment when we make a mistake! So taking things slowly and gradually is advisable, never risk too much if you can't afford it, it's what can lead to big problems!

When you do let yourself being greedy with this investment then you would really be ending up on getting wrecked because this isnt something involves some sort of race but rather be mindful on

how you do sustain yourself into the market and with the use of proper risk management and when it comes to financial handling.You would able to realize these things whenever you do

experience unfortunate events but somehow it isnt really necessary for you to do so since you could really be aware if you do just know on how to read up various real time experiences
which you could apply for yourself.

Trading requires understanding and knowledge also it's all about the emotions and actives of the trading. This is the reason why trading is difficult. Always stick to the trading plan if theres a signal already given to you better to make a stop loss and take profit not all the time its ideal to stay and to hold becomes greedy might increase the amount of total damage to your assets and emotional state might cause a revenge trade just to urging your money back.

Not really, if you're trading in bitcoin and you become to greedy, you can always just wait for things to go your way and wait it out that is unless the money that you've put in that trade is all the money that you've got and that you're relying on trading as your means of making a living. Greed most of the time can cause bankruptcy but it's not going to be always the case.

This is definitely the problem.

People want to be rich overnight, they don't want to experience failures, that's why they never grow. So, instead of making profits, they are making regrets every single day by trading with their greed (in a negative way). It's not bad to be greedy, but of course it has to be in a right manner, you have to have a plan in trading, you have to do technical analysis always, there's no short cut on being good.

It should not become like gambling, spot trading should be an EV+ thing. Revenge trading, like you mention, is common in the first days of any trader, trying to fight against the movements. Usually a trader will make profit if they move the opposite of the trend. Meaning they buy when the market falls and sell and when the market rises. For a newbie in trading, these basic things can be tough to comprehend and therefore paper trading should be tried first.

However, like the OP says, there will be a group of uses who trade or gamble under impulses and they can end up ruining their finances by this, they need to be kept away from such platforms.

You've got it, right mate.
There are many ways that could brings us into that very particular situation and being a greedy person is not enough to cause us bankruptcy, may this will also be a reason for becoming rich. And instead of OP pointing it out, he may consider that Trading is totally risky in the first place and even you are not greedy, you'd somehow lose just like the others.
the case is that trading couldn't be in winning, couldn't be in success always, losing gonna happen as well even though we don't like it.

Indeed. I think that the right amount of positive greed will impact our drive to do more and to do good. But, as anything in excess in poison, then too much greed will do no good for anyone. I think that the best thing to do is to have a goal to reach, and a goal to continuously learn as well because in trading nothing is stagnant, everything changes, and thus it is risky.

Its the most basic lesson in the investment world.

You will find tiny, bold and underlined sentence everywhere when you go to a investment site: "Investments are subject to market risk and you are responsible for the losses" OR they are rephrased in different ways for different localities but meaning the same at all.

So yup, when you enter the market the very first thing you have done is you have given your money to someone else for temporary site and you will be loosing it if you dont play it fairly.

Another thing is, greed is emotional thing and it can eat you everywhere, trading, gambling, stocks, or even simple appraisal at the job. So yup, be cautious.

There are lots of similar techniques are available everywhere for better trading and when traders are adopting such a strategy along with being greedy may not harm them. But, entering positions and then trying to profit booking without proper plan and strategy but only out of greed might be very dangerous and definitely such type of trading habits will lead to bankruptcy in the end.

Is there any such thing as positive greed? Because according to the dictionary, (Oxford languages) greed is an intense desire or a selfish want for something such as wealth or power. Everything that we are doing, we have to make sure that our mind is neutral, we should set a target of what we want to achieve and make sure that the target we are setting is not one that makes it seem or makes us become greedy.

We should know the things that are achievable at our level, and then try to work towards that. And when we might have achieved that, we can then move forward to setting another target or goal that is also achievable. If we decide to work with greed, then we are more likely to fail in achieving our targets.

This is something that happens in every aspect of our lives, we see things that others have achieved and we would want to achieve the same thing without even knowing how far it took them to be able to achieve such. Due to reasons like this, a lot of people has been misled in the cryptocurrency trading market. They always try to rush things, they don’t even have patience and they don’t take calculated risk at all.

This is what I think as well, a newbie that comes to this market and does not earn money during his first year or even losses a little bit should be happy about his results, this may seem odd but I mean what I say, investing is not a race but a marathon, the ones that earn the most money are the ones that can survive to all the negative movements of the market, so if a newbie after one year still has most of his capital then they are on their way to success, even if it does not seem like that is the case at the time to them.

For me, this is exactly true. and this becomes one of the very precious lessons that I got from my previous last year trading in 2021.
I lost my worthy chance to take profits because willing higher and higher percentage even I have reached my first target to take profits. But because of greediness, I precisely lost it and the price keeps down until right now. Some are until liquidated because in the future trading (fortunately it was only a few amounts). and Some are in the spot trading which is also very dropped because too late to take profits or even too greedy.

Actually, this has been a very long time issue that everybody can experience. I also have learned about that from year to years in order to decreasemygreediness. However, sometimes, the greediness comes again and I cannot control or amnage it very well. Sometimes, learning needs more times to learn, I know that thismay be a stupid experince that I did, but that has been lost and I just try again and again to controlmy emotion in trading.

Some noobs do mind off to learn things overall in just a span of 1-2 months but honestly speaking considering yourself to learnt up on 1 year observation basis.Yes, its too long but i would say that this would be sufficient
for you to learn up everything and take a good grasps on how this market works.This isnt just you could deal with in a short time.Greed might normally appear which is normal but once you do
gain up experience you would able to control yourself pretty well.

Apparently, there is such concept of positive greed. I am also surprised to read an article that talks about how greed can serve a positive purpose for an individual. That strong desire that you have mentioned can be a form of motivation, that push people for better outcomes than what they currently have achieved. However, in different context, its negativity proper just like when we do so much at the expense of others. That being said, we could perhaps use some positive greed in trading, but we must know our limitations and be rational enough in making decisions.

Of all I know about greed is a negative or a meaning that associates with strong emotion to get that certain thing but like what I've said in a negative way. But this time I would going to agree with you mate, greed can be turn into positive depends on how the person would interpret it. Some people are so good to look for a positive thing out of a negative situation.  Though in terms of trading and investment being greedy always look like a drawback of a person but this could be a strong emotion that he wanted to achieve or to get a certain thing that he believes he deserve.

As far as am concerned, In anything we do if we want to succeed... the elements of greed should never be present, once greed gets the better of us we tend to make wrong choices in trading for example which could cost us a fortune of our hard earned money.
Hence to over come greed we need to learn patience, and generally learn how to read the charts.

Yeah, you would see newbies who would join the market and they would quickly start investing all their money, forgetting that there are risks that are involved and that they are likely to lose their money in the market. Also when you tell most of them how long it will take them to be able to achieve such feats, they start losing interest immediately, or feel discouraged, because they are looking for a quick means of making that money.

Actually everyone must have greed, and we must control it, because greed only makes us worse. Moreover, in trading greed can be a factor for us
to experience losses until our capital runs out, so if this doesn't want to happen to us. We must start practicing self-control so that we are not
obsessed with big profits, because to be able to get rich from trading crypto can not be obtained instantly. We have to be patient to accumulate
the profit that we make, so it does require patience when trading. Then never delay to take profit if the price has gone up, because we want to make
a bigger profit, it only makes us lose the opportunity to make a profit. As I said we need to control our greed, by doing that we can become
successful traders.

Greed on the sense that you do able to control it out because this is where it do motivates us to do well or involving into something and been prepared and aware on what we must do but on the time on which it do results on committing mistakes or simply making yourself dumb then this is where it considers that you had lost control.

Dont let this thing to happen if you dont like to mess up your trading career or anything that involves money because if you do let your greed overcome you then you would really be
lost and wont able to think well.

You are dealing with some business or investment on here and its not just right to make those kind of mistakes and treatment.

The only way why people are suffering from losses is because of greed or unable to control their self and the awareness of the market is gone, thus, makes them irresponsible for what is going to happens next. Newbies are always depicted that way because of their lack of knowledge when it comes to the market and their greed will always push them to do things that they aren't supposed to be doing.

That's why experience is the best teacher of all time if you want to be a good trader, practice since practice makes perfect in the sense of funds handling and risk management.

Well said, we should not be greedy with anything we gain in life and then only we can be happy and satisfied with what we have. That mental peace is also important and it will be a big reason to keep any person sane during their lifetime.

The power to control greed comes with discipline and it is not a tough emotion to control. Some people may be more inclined towards it but I never had a problem with it, however that does not mean others will not face problems.

Even then if someone ends up taking impulsive decisions based on greed, they need to stay away from speculative markets and gambling - because they will end up in a bad situation. Reading charts will not be a thing anymore, they will be placing orders without doing research, something that newbies willing to make a profit end up doing in their early days.

I am glad we have the same understanding regarding this angle for positive greed. Nevertheless, I have nothing more to say beside that I agree with you with regards to trading, greed can be a drawback if it’s not controlled and put into its right place. Sometimes, in life, we tend to overdo what has been given and blessed upon us, without realizing that mere action and mindset is already greed.

Stress is not necessary. Take control of your greed and you won't regret it. A Trader's market is not an emotional one. There are times when market movement can make you irrational. Patience is almost always required. Neither bull nor bear markets last forever. Take a deep breath. Learn how to trade and become proficient in the bear market. Study cycles. Learn to play cycles. You will not be rich otherwise. Your actions are determined by your greed, which ultimately determines your success.

Apart from controlling greed, another important thing is that we have to be patient when trading crypto. Because we will face a bear market that
may last for quite a while and we must practice not to panic if we see the market getting worse. We must remember that the crypto market is
very volatile, so suddenly the market can change significantly, we will never know what will happen to the crypto market. But as long as we can
control our greed and can also be patient when trading, everything will work out fine. We will make a profit in the end, it is not easy to be
a successful trader, it requires a fairly long process. Because we really can't generate profits instantly, there must be a process that we go
through first. Then never be satisfied with our trading skills, so never stop learning to continue to improve our trading skills. Because I believe
there will always be new things we can learn, so we must have extensive knowledge to be able to find an effective strategy to generate profit.

I couldn't help the smiles that popped while reading this, it brought back old memories.
I've been friends with some greedy persons but am glad the learnt their lessons.
Specifically I'll share just 1, I had this friend who would always want to involve her self in whatever I do that yields profits, when I first heard of crypto currency and made up my mind to studying it, she acted busy and decided that when she was done with the program she was hosting at the time, she'll join me, I didn't hear from her again until I had started trading and then when I started making little profits, boom, she wanted to know all about it. Being a good friend that I know I am, I shared the links and recommended places though which I learnt faster to but she never gave any a click, she went ahead and began trading and that was it, she lost almost everything that she used to invest.

Greed is a very bad virtue, it's majorly caused by envy and it'll take one nowhere, if you're interested in something, be bold and patient enough to  make your proper researches before venturing into it.

Not surprisingly on which people would be mainly focusing for it cons rather than on its pro's on which we couldnt really deny that being greedy does have its plus side but it would really be situational.

But in most cases on which being greedy will surely be putting you into big trouble if you dont able to handle it well thats why you should really be wary in regarding to hat.

Dont let your greed control or overcome you on which you should still have that good control in regarding with emotion and mindset so that you could execute out things well.

This is true, during the last bull many coins that are down now had ATH but some people may wait and expecting more profit and soon their hopes were disappointed as now those profit are gone and they are complaining. Every bull and bear season is a time for learning. Like it is said buy when price is low and sell when price is high.

This is exactly who I am in my early days of crypto trading. I was so greedy, being brainwashed by hype and opinions of others. In the end, I’ve learned my lesson the hard way in which I’ve experienced big losses due to my greediness and not doing my own research along with the lack of managing risks. It’s something that I would never forget, but I had to move on despite the losses.

But I’m just thankful that I didn’t end up getting bankrupt, as I slowly learn how to limit and control my finances.

Honestly I was once greedy when I started crypto trading, I have been in a trade that move in my favor thus earned some reasonable amount of profits, instead of closing my trade and lock in my profits or use a trailing stop to avoid losing all my profits, I left the trade hoping to earn more profits, Lo and Behold price reversal occurred consequently ended up losing all my profits due to greediness, to make matter worse I got liquidated, luckily I started trading with amount of fund I can afford to lose, however I had learnt a great lesson to take profits appropriately at a certain percentage and stop trading.

And every bull and bear is different. This is what I've experienced for every bull and bear market that I've been with. Those altcoins that I've waited and thought that they'll be having a great deal when the market is bullish again, I expected the wrong coins.
The coins that have made their run during this bull run were mostly different than those in the past. Well, the learning continues and this won't stop and even we're at profit, it shall continue no matter what the market is looking like. One learning I've applied is to take profit from bitcoin and I just did that during this bull run although in the mid and close to the ceiling price of it.