How to deal with greed whilst trading?

[goaldigger]

Wanting more is a human nature specially when it comes to something you get benefited from. If you want to control your emotions in every trading, set your mind before. You can also have a target price or limit where thats the point of giving up and buying some.

[geegaw]

Wanting more is a human nature specially when it comes to something you get benefited from. If you want to control your emotions in every trading, set your mind before. You can also have a target price or limit where thats the point of giving up and buying some.

Indeed, greed is always an indispensable feeling for a person when they can get benefits, and exactly as you say, want to prevent this desire, we always need to design loss targets and limits before benefits or losses occur. And with this plan, all risks and dangers will be extinguished before more wishes appear in the minds of traders, however, knowing and applying is always very difficult because I see most traders don't follow their plans, they are always afraid of regret, and often cancel all goals and plans

[jhonjhon]

Just know that your still human and greed is part of our nature, I think what you really need is practice and always remind yourself that you have to stop at this point in time, more of putting a condition to yourself to do this and that.  You can make like a list of things you need to do while trading you can put it in a small notebook so that it will serve as a reminder to you not to be greedy.

[joshy23]

Just know that your still human and greed is part of our nature, I think what you really need is practice and always remind yourself that you have to stop at this point in time, more of putting a condition to yourself to do this and that.  You can make like a list of things you need to do while trading you can put it in a small notebook so that it will serve as a reminder to you not to be greedy.

keep practicing your emotions being controlled, if you can perform this while inside trading chances removed this attitude/emotion will be prohibited,
you need to make some good assessment on how you will be able to keep your self distance away from greed and keep focusing with your intentions
to learned and earned acceptable amount of money.

[Vaculin]

Just know that your still human and greed is part of our nature, I think what you really need is practice and always remind yourself that you have to stop at this point in time, more of putting a condition to yourself to do this and that.  You can make like a list of things you need to do while trading you can put it in a small notebook so that it will serve as a reminder to you not to be greedy.

keep practicing your emotions being controlled, if you can perform this while inside trading chances removed this attitude/emotion will be prohibited,
you need to make some good assessment on how you will be able to keep your self distance away from greed and keep focusing with your intentions
to learned and earned acceptable amount of money.

Greed is already an inborn to us and so we need to control it as much as possible so we will never make series of losses in trading. I think it's more on accepting our greed and learn how to manage it that will not be a hindrance in making our own trading be sucessful and profitable. Learning more about trading too through making good researches might be of great help too to control our greed while we are in trading.

[sandra_x]

The good approach is to have a plan,organise your trade before hand and have a limit to how much percent gain or risk you are willing to take and sticking to the plan.Many professional day traders do this.There are many who typically will not exceed a 5% gain in a day.Th

[CryptoLing]

For me the easiest way to beat greed is by setting a target, on the last bull run I didn't put a target and loss my profits this happened because I was greedy. So I decide to set a target and whenever the target is reached, I immediately sell my coins and never look back.

[MidKnight]

When you encounter those situations that you think you can gain more even you gain more than enough, it's hard to knock out your greed. I did have a hard time to deal with it back in 2017 and even my logic did not work because I'm earning in bounties so I told myself that 'why I did not think that?' Because I know that even I sold all my btc, I still can earn in bounties and exchange it with bitcoins but past is past and I guess a time machine can only fix it.

[Remainder]

For me the easiest way to beat greed is by setting a target, on the last bull run I didn't put a target and loss my profits this happened because I was greedy. So I decide to set a target and whenever the target is reached, I immediately sell my coins and never look back.

That's correct, people will only be greedy if you cannot control their emotion, or they decide using their emotion instead of their mind to implement the strategy. If you have the plan already and you will sell at a certain target, you should be discipline enough to implement it, even if the market is so bullish.

This actually similar to a gambler that is already winning but failed to stop and take the profit because he wants more.
It's a bad attitude and not a quality of a successful investor.

[Kiweikoo]

Wanting more is a human nature specially when it comes to something you get benefited from. If you want to control your emotions in every trading, set your mind before. You can also have a target price or limit where thats the point of giving up and buying some.

Indeed, greed is always an indispensable feeling for a person when they can get benefits, and exactly as you say, want to prevent this desire, we always need to design loss targets and limits before benefits or losses occur. And with this plan, all risks and dangers will be extinguished before more wishes appear in the minds of traders, however, knowing and applying is always very difficult because I see most traders don't follow their plans, they are always afraid of regret, and often cancel all goals and plans

But the phenomenal Rumi from thirteenth century of Persia had been of the view that excess of everything even if it is good for health is poisonous in the long run. It makes you forget about the fundamentals. I think it is good to make big money in trading but only if you know about the market and can understand about the nest signals of the market, that way you would not loos in trading out of greed.

[mbluxs]

Controlling emotions is indeed a difficult thing when indeed we are still not familiar with the decline or increase in market prices. with the frequent trading we feel the mental sense of ourselves will be formed and also not panic about any situation. because we have the confidence and data to take a decision

[idham29]

At least you have your realization already. Only our own realizations that we can adjust and learn from the past. Contentment is sometimes learned thru experience. Try to be patience and relax yourself. If you cannot control yourself then maybe you are trading an amount above your level. Try to minimize it.

Of course the most important thing is the awareness that greed will cause harm. If profit is enough, sell quickly, do not wait for higher prices, because if the bad luck of the price drops and losses are experienced.
This is clearly related to gratitude that the investment has provided benefits. This strategy is then applied again to other potential and predicted coins that provide short-term benefits.

[befriendmywater]

Hello!

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

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

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

no need. You should try trading and you need to encounter a failure. 1 month ago, I had a big failure and my account was split 4 times. That's all the money I earn!
I am very disappointed about myself because of greed. After the following transactions, I adjusted my greed. Believe me, just practice and you will realize the best value. reading will not help you much, I have read more than 10 books! good luck

[zhekinsp]

To control the greed we need to satisfy yourself like putting the the most founded thoughts in your mind that only the way to change your decision at the time so if you post your wish then it will definitely helpful to reduce them.

[Capt00]

To control the greed we need to satisfy yourself like putting the the most founded thoughts in your mind that only the way to change your decision at the time so if you post your wish then it will definitely helpful to reduce them.

It actually a big problem for us where satisfaction can't be easy to have a solution. Yes, we might inborn as a greedy individual and maybe there is no reason why we should have to put an end for this? From that attitude, it makes us be hardworking in order to fill that greed. Pushing our self into the limit will sometimes put us into at risk and that greediness will something dragging us into the hell.

[ricardobs]

Controlling emotions is indeed a difficult thing when indeed we are still not familiar with the decline or increase in market prices. with the frequent trading we feel the mental sense of ourselves will be formed and also not panic about any situation. because we have the confidence and data to take a decision

Greed no doubt can lead you to big loss. This was what happened back in 2017 when people speculated big money in Bitcoin due to fear of missing out the opportunity to make big money and they kept on holding despite surplus but the market crashed and stayed down till this ongoing bull. SO yeah, we should learn to control our greed and stay humbled with whatever profit comes our way.

[leea-1334]

The good approach is to have a plan,organise your trade before hand and have a limit to how much percent gain or risk you are willing to take and sticking to the plan.Many professional day traders do this.There are many who typically will not exceed a 5% gain in a day.Th

In other words, for the sake of all traders everywhere:
1) Always use limit orders, never ever buy or sell by filling in an instant order. 2) Set the price you want to buy, and set the price you want to sell, and let the platform take care of it for you. 3) And of course, set the stop loss you are willing to go for.

Like you said, more than 5% is typical. But proven statistics is that majority of traders have nett loss.

[ethereumhunter]

I think if we can stay calm in any situation in the trading, we can handle the greed, but we must remember that sometimes we are weak and cannot handle the greed every time. But as long as we can do, I am sure that we can prevent the greed that always comes to us, especially if we see the price is moving to the high price. We cannot hold the greed to not come to us because greed is something which lives inside us and only stays calm that we can do to prevent greed.