When Greed Comes First in Trading, the Result is Bankruptcy

[Sanitough]

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.

[stomachgrowls]

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.

[LastKiss]

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.

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

[doomloop]

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.

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.

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

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.

[justdimin]

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.

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 .

[fullhdpixel]

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.

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.

[Oilacris]

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.

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

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.

[Dentianaedo]

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.

[Silberman]

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.

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.

[Yamifoud]

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.

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.

[Sled]

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.

Greed is not bad at all but you must know to distinguish which is bad and which is not. Right now, its ok to become more greedy on buying Bitcoin because its cheap but of course you must stay within your limits, and know that greed can be more ok if you’re on a limit. In trading, the risk is always there and being greedy might be more risky that’s why you should only trade when necessary and not because of your greed and negative emotion, you can’t trade with that emotion. Holding is another big thing though.

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.

[Ryker1]

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.

Greed is not bad at all but you must know to distinguish which is bad and which is not. Right now, its ok to become more greedy on buying Bitcoin because its cheap but of course you must stay within your limits, and know that greed can be more ok if you’re on a limit. In trading, the risk is always there and being greedy might be more risky that’s why you should only trade when necessary and not because of your greed and negative emotion, you can’t trade with that emotion. Holding is another big thing though.

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.

[TimeTeller]

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.

Greed is not bad at all but you must know to distinguish which is bad and which is not. Right now, its ok to become more greedy on buying Bitcoin because its cheap but of course you must stay within your limits, and know that greed can be more ok if you’re on a limit. In trading, the risk is always there and being greedy might be more risky that’s why you should only trade when necessary and not because of your greed and negative emotion, you can’t trade with that emotion. Holding is another big thing though.

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.

[Finestream]

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.

Greed is not bad at all but you must know to distinguish which is bad and which is not. Right now, its ok to become more greedy on buying Bitcoin because its cheap but of course you must stay within your limits, and know that greed can be more ok if you’re on a limit. In trading, the risk is always there and being greedy might be more risky that’s why you should only trade when necessary and not because of your greed and negative emotion, you can’t trade with that emotion. Holding is another big thing though.

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.

[topbitcoin]

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.

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.

[Cryptopher]

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.

[suzanne5223]

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.

[Fivestar4everMVP]

Good luck and keep in mind that trading is not for everybody. Heck, even HODLing is not for everybody.

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.

[tygeade]

I think it nice to see greed as a negative weapon in crypto trading because 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 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.

[jaberwock]

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.

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.