How to deal with greed whilst trading?

[Barbut]

Greed happens with trading when an user experience unexpected earning out of luck. Once after the same user will easily tend to invest big and get back a big profit in a short time period. This is what makes traders get into greed, in most of such cases greed has made users end up with loss. To overcome greed it is a must to understand better about the market and the possible solution for a risk free trading.

I see that different, greed happens when you are making profit but you are not satisfied with that, you wish for more. In moment you  starting wishing higher profit you are forced to risk and invest more, in some moment you lose a lot, cause of greediness. Be satisfied with what you are making, if its going good dont try to make higher profit, wait until you build higher bankroll and slowly, really slowly rise your investments.

[redsun114]

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 have to start controlling yourself to see maximum results quickly, I suggest you use the principle of "little profit but always running" this will make it easier for you to get profits on a daily and regular basis regularly

You can deal with greed during trading by not trying to be greedy. Trying to stay what you are and be happy with whatever profit you can take with your coins. Try doing it again and again and if you don’t try to be greedy, you would make some good money. The optimism counts a lot in trading and if you are optimists about taking good profits within the limits every time you trade, you would make good money.

[quarkfx]

greed and fear both are bad in trading and this will be there in every trader and everyone have correct money management and calculate whats the loss and profit

if ypu think that your analysis is right after target hit square off half quantity and let remainig half bring you profit

[raven7886]

The number one thing to remember is bitcoin is basically giving you free money when it goes up, you didn't worked for it, you didn't spent time for it, hell if you are not checking it out every single day and intraday trade every day then you are basically just getting lucky with it when it goes up.

If you know that and act accordingly any money you get is free money anyway so you won't act like it is some sort of money you earned and ask for more, if you work for something for certain hours then you will look at the amount of work you put into it and say your effort worth more and you want more and you can get greedy, but if you have no work put into it how could you say even 1 dollar profit is not enough, if its free 1 dollars its still good and should be accepted, that way you can beat your greed whilst trading.

[rysea2]

it's very difficult to do that because panic has become human nature even though it also happened to me, but to reduce it because I'm a long-term trader, I usually very rarely see market prices and only 2-3 days so panic can be muted.

[SirLancelot]

greed and fear both are bad in trading and this will be there in every trader and everyone have correct money management and calculate whats the loss and profit

if ypu think that your analysis is right after target hit square off half quantity and let remainig half bring you profit

I believe that greed during trading is unhealthy and you can and should get rid of greed if you want to succeed at trading. Greed actually weakens your strategies and you are no longer able to withdraw with the same profits as you could do before. In fact greed is the reason for irrational behavior which leads to loss. Having a rational attitude towards trading your coins could really make you profits.

[ethereumhunter]

it's very difficult to do that because panic has become human nature even though it also happened to me, but to reduce it because I'm a long-term trader, I usually very rarely see market prices and only 2-3 days so panic can be muted.

Panic will be happening to all people, especially for new people in trading because they will lose control to see what is going on in the market, and they will cut loose some of the coins. And when they see the price increases, the greed will come to them and whispering them that the price can increase higher than now. That will be difficult to control because every people wants to make a bigger profit. And as long as we can do self-control and only take the profit that we want, then we can prevent from being greedy.

[SARA ISLAM]

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

Controlling mind it's so hard but possible practice makes it easy, I trust My trading strategy it's working well for me

[aderidwan98]

In trading it is natural, greedy and emotional is a trial in trading, to overcome it we must feel enough with the profit we can

[bitcon]

greed and fear both are bad in trading and this will be there in every trader and everyone have correct money management and calculate whats the loss and profit

if ypu think that your analysis is right after target hit square off half quantity and let remainig half bring you profit

Greed can play a bad joke with a trader. If a guy chooses shitcoins hoping that they will pump, he has too many chances to lose everything. Another situation is holding crypto for too long hoping that it will gain really a lot.

[neonshium]

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

Lol is there even anything like a HOW TO,  on dealing with greed? Since you have noticed that you're a greedy person when it comes to trading, I think it is up to you to make the decision of stopping yourself from that. You know the thing you do that makes you think that you're being greedy, so you need to stop those things that are making you feel like you're greedy. You don't need anyone's  help in stopping yourself from doing all those and you don't need any tips. You're able to realize it,  so you should stop it the same way you're able to realize it. Good luck.

[Astvile]

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

While trading being confident is just alright specaily if you have knowledge and experience on tradng,whats wrong is maybe you are over confident while trading knowing that you have experience about it.Being over confident will then cause you to be greedy as for my exeperience.Try not being over confident over trading and youl get over the greed for sure.What do I deal to avoid this emotion in trading is just to be patient in every trades I make,setting a mark where i should sell and not aim for more not being confident about the price movement.Thas what i do to deal with this kind of situation back then

[CryptoPowerL]

During the trade you need to turn off your emotions. Emotions and technical analysis are not compatible. If a novice trader cannot cope with his greed, he will quickly lose his entire deposit.

[GregH37]

greed and fear both are bad in trading and this will be there in every trader and everyone have correct money management and calculate whats the loss and profit

if ypu think that your analysis is right after target hit square off half quantity and let remainig half bring you profit

Greed can play a bad joke with a trader. If a guy chooses shitcoins hoping that they will pump, he has too many chances to lose everything. Another situation is holding crypto for too long hoping that it will gain really a lot.

That part of shitcoin, I usually don’t talk much about that because I have friends that are experts in making money out of them, they invest in them from the beginning knowing fully well that they must surely be pumped, so they wait for that time and immediately they see a shirt pump, they take profit immediately without being greedy to wait for the long pump.

The aspect of holding profit for long, I would really not blame people doing that, we have some coins that are rally worth holding for long like bitcoin, because the profit you get off BTC investment when you wait for a long time is better than the profit you get when you take short profit.

[omonuyak]

During the trade you need to turn off your emotions. Emotions and technical analysis are not compatible. If a novice trader cannot cope with his greed, he will quickly lose his entire deposit.

Very good recommendations but can we turn off our emotions? We should not look at emotions as something that is total bad and it is there to guide us too. Without proper knowledge and skills on trading there is no need of going into it as you will definitely going to lose money.

[maydna]

During the trade you need to turn off your emotions. Emotions and technical analysis are not compatible. If a novice trader cannot cope with his greed, he will quickly lose his entire deposit.

I don't think that it is easy to do as it says because you need more practice to control your emotion in tradings. You will feel difficult to control the emotion, especially if you look, the market is going to go somewhere, and it's out of your prediction. Your emotion will become panic, and you cannot think about solving the problem because you only want to save the money you have and prevent from the big loss that you might get later. That will make you get another loss, especially if you cannot see a chance to fix that matters behind that problem.

That will depend on the experience we got so far and how we could prevent bad situations so that we could get out of the things.

[beerlover]

greed and fear both are bad in trading and this will be there in every trader and everyone have correct money management and calculate whats the loss and profit

if ypu think that your analysis is right after target hit square off half quantity and let remainig half bring you profit

I believe that greed during trading is unhealthy and you can and should get rid of greed if you want to succeed at trading. Greed actually weakens your strategies and you are no longer able to withdraw with the same profits as you could do before. In fact greed is the reason for irrational behavior which leads to loss. Having a rational attitude towards trading your coins could really make you profits.

Sometimes, when I explore some ways of controlling greed, I found out that naturally, one cannot really control greed, greed is greed no matter how little, imagine bitcoin increases by $1 just now, would anyone be willing to take that profit? Many of us will not take it because it is too small, same way people  that trade with huge amount sometimes see those small profits like $50 as small compared to what their investment is capable of taking.

The best way I feel one can control greed is usually to just always set one trade to trade automatically, and not control it manually, otherwise, there is no way greed will not come in when manually trading.

[MMysterious]

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.

[Aivaryamal]

You can not cope with this problem because there is not enough experience and a small number of cryptocurrencies in the portfolio, it also affects the amount of profit, you need to diversify your investments

[Congyang]

You have to trade casually and you don't have to rush to get a profit. I advise you to continue trading appropriately, look at the trading chart with intense and do it slowly and enjoy the results