How to deal with greed whilst trading?

[BUK2016]

Separating greed while trading crypto currency is not an easy task because money is involved and as human we always want more to whatever we have. If you doubt my point then go and try Demo account in Forex and compare you feeling with the one that money is involved.

[BitHodler]

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

There is no way to change who we are and the emotions we go through. It's so easy to read a book and then pretend that you're less subjected to everything that could make you lose, but that's unfortunately not the case.

Everything you read in books goes out the window the moment you're making that one decision with a lot of money at stake. No amount of reading can reduce your emotional reaction before and after the trade.

I consider myself to be quite a firm hodler, but I do from time to time notice that it's not always easy with how this market is testing everyone here almost on a daily/weekly basis with how volatile and brutal the bear cycles are.

I started doing some trading lately, and I am happy that I only focus on confirmed changes in market structure, else I would be so much more subjected to even more risk that comes with trading. People saying day trading is a fun thing are delusional.

[crzy]

Separating greed while trading crypto currency is not an easy task because money is involved and as human we always want more to whatever we have. If you doubt my point then go and try Demo account in Forex and compare you feeling with the one that money is involved.

Yes, it's not easy to separate the emotion of being greed but as a trader you must learn how to control it. Greed can lose your money, usually traders are being greed because they have no plan on how to trade better. If you are new trader, then you are still on this stage and you must keep learning until you learn how to become a real trader.

[Shenzou]

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

Greed is a part of our nature and it takes really a strong will to contain that feeling, greed can be seen in many places not just in terms of money, the way i came to control this feeling is by truly knowing it and in all the thing that you do in your daily life, and understanding what the consequences of it, when it comes to trading crypto thinking that if you sell and the price is gonna go up as soon as you do that created this fear and you just end up holding, and you might e,d up losing it, so it is always better to be safe than sorry and quit while you are ahead even if it means making the wrong decisions.

[Apened]

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

Balance your emotion through your analysis and you should always have an idea before executing why you have to selll or buy in that bottom. Everything works with emotions but most of every trader thinks ignoring emotions is the best thing. I know this is the hardest part to get in control while you can do it if you always have a plan in every trade that you will make.

[jazmuzika217]

Controlling your emotion while doing trading is not easy because you are too greedy to earn huge profit but you need to understand that emotion is one factor that cause to losing your fund.
By controlling emotion you need to set a plan what size of entry I need to enter then set your sell order 3 to 5% to your buy order.

[Polar91]

Controlling your emotion while doing trading is not easy because you are too greedy to earn huge profit but you need to understand that emotion is one factor that cause to losing your fund.
By controlling emotion you need to set a plan what size of entry I need to enter then set your sell order 3 to 5% to your buy order.

I don't think you must have set yourself a maximum profit since it's better if we can maximize our target profit but with a plan of course. IMO, we can control our emotion if we're focusing only on the chart itself. We shouldn't just depend on other or what ever news came. Chart never lies.

[jakelyson]

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

You just need to set a goal on your trades. First set an achievable goal and have the discipline to stick to it. That is the only way you can trade without getting greedy.

[traderethereum]

Controlling your emotion while doing trading is not easy because you are too greedy to earn huge profit but you need to understand that emotion is one factor that cause to losing your fund.
By controlling emotion you need to set a plan what size of entry I need to enter then set your sell order 3 to 5% to your buy order.

I don't think you must have set yourself a maximum profit since it's better if we can maximize our target profit but with a plan of course. IMO, we can control our emotion if we're focusing only on the chart itself. We shouldn't just depend on other or what ever news came. Chart never lies.

Yes, it will difficult to set to get maximum profit since the market can go to up and down. But I am sure that he will have a good chance to make a profit if he is not too greedy to chasing the profit itself. Controlling his emotion will be a good solution as he can think what he needs to do when the price can increase, and he can take the profit right away without waiting for the next higher price because we don't know if that will happen or not.
When he can control his emotion, he doesn't have to worry about taking the profit because he will know when its time to close the order and have those profit.

[perla]

You will always face time that you never satisfied with what you get. And it is all depends on how we control ourself for being greedy or something like that. If me i will withdraw my capital every get a profit, for me it is better than jump again in a coin that already give profit for me and then loss.

[emmybd]

We hunan beings are greedy in general. We are not content with small gains, so we want to earn more. Most traders want to earn huge profits in a quick time, as a result they make mistakes.

[Dark Ripper]

I feel you that it's hard to trade when you are trying to hide your emotions and feelings, but if you've done this many times and also you've lost some money because of doing this and you've failed sometimes hiding your feelings or emotions while trading that would probably teach you a lesson to really hide your emotions very well so that your greed will not saw by your opposite trader. Simply pretend that you feel nothing so that you can trade with confidence.

[Dark Ripper]

I feel you that it's hard to trade when you are trying to hide your emotions and feelings, but if you've done this many times and also you've lost some money because of doing this and you've failed sometimes hiding your feelings or emotions while trading that would probably teach you a lesson to really hide your emotions very well so that your greed will not saw by your opposite trader. Simply pretend that you feel nothing so that you can trade with confidence.

That's right! Feel with confidence and hide your feelings so that your opposite trader will not saw how greed you are when it comes to trading his/her token or coin. Practice to hide your feelings very well and that would be a great help for you when you are trading.

Hiding your feeling and emotions on trading will really be a great help to you because you can hide you real feelings so that the trader will think that you are noob or idiot when it comes to trading. Exchanging and trading is almost the same because when you  are exchanging you are trying to exchange your tokens or coins in a large coins so those experience that you've learned you can used them especially here in Darb  you can exchange and trade here and you may earn a lot of  profit by just exchanging and trading.

[mersal]

I think keeping it simple will always helpful for you to not worry much about the trading that you are doing all the time because when you are trying to pick something new it will always going to disappear for you so so we need to be calm and composed 12 choosing something better than today's situation.

[Supercrypt]

The answer is right there inside of you, just do the opposite of whatever your greedy instinct tells you to do, if it tells you to trade at higher position, use lower position instead, if it tells you to wait till you get more profit after seeing a little one, take the little, just do the opposite, in the end, you will thank me for this.

Fighting greed is not so easy, it is not in the book, it is in you, it all requires your strength and determination. Greed is strictly an emotional product, and you are stronger emotionally than you think you are, a part of you that understands greed , also understand not being greedy, ignore the greedy instinct and work with the right one.

[Reid]

There is no book for that.

Just be satisfied.
That is the main problem of wanting to have some more. You have been successful as you said it and in a good roll by now. What you need is discipline into creating another profit from the other profit you made. Means, take out the investment by now. That way you wont feel much regret losing it.
But be careful also, you will tend to get careless into picking the trade or without even thinking hard whether to withdraw or hold. Get in and get out as long as there is profit. Small or large.

[spadormie]

Just like when I gamble, I am being swallowed by my greed. And by that, I see that it brings no good to myself. You should be trying to deal with it or even escape being greedy in order for you not to lose a lot in the future. Being greedy begets nothing.

[Isiaka208]

You have to work on your emotions to make good decisions in trading. The only way to deal with greed is to have and follow your strategy. Go into a trade with a plan and follow the plan when you start making gains.

[rizkyhiw]

Emotional is very natural for everyone, so everything is unavoidable, just how you respond to the emotions you make, most importantly don't trade too much according to the lust you have if I can't suggest you not to do it in the next few days, first- first learn any analysis because defeat starts with the market ignorance that will occur or put money at the wrong time.

[rysea2]

the main thing you have to do is convince yourself of information that has convinced you about market movements, because sometimes misinformation can also cause traders to fall into too much emotion and self-confidence and lead to greed that results in losses .