Don't be greedy – a short goose story

[lovesmayfamilis]

In my country, this tale is called "The Tale of the Goldfish." We are taught from childhood not to be greedy, but for some reason, growing up, many forget about the first lessons. But it can also be said that we all have our ambitions. Someone is ready to stop at 10 percent of the profit, but for another person, this is not enough. You need the experience to understand all the risks. If you think that the market will always go up, you can get disappointed very quickly and not have time to sink to the ground from your illusions. Just set a goal for how much profit you will be satisfied with, realizing that you need to think rationally.

[Obari]

realizing that you need to think rationally.

Yeah I agree totally with you and rational thinking is one of the best way to comb mental and emotional stress associated with crypto, rational thinking which is simply hoping for the best while expecting the worst and with this idea, one would simply start practicing the use of stop loss(SL) indicators while  HODLing.

Greed in all sphere of life is very bad and most times, ends up with negative result and cryprocurrency isn't exempted on this principle of greed, "the higer the greed, the riskier it gets"

[bounceback]

Greed is a mistake that we need to avoid when investing because greed will encourage us to do things that are not natural for us to do so that in the end we have to suffer losses, we often see many beginners or some other investors who are unable to control their greed have to suffer losses because usually when the market price is rising they will rush to buy at high prices because they want to make more profits in a short time by relying on the luck factor without implementing a strategy.

[GigaBit]

Greed is never a good idea because it can ruin all your profits when you are having more of Loss.
To underline why we should avoid greed, here is a short story from ancient Greek writer Aesop:

There was once a Countryman who possessed the most wonderful Goose you can imagine, for every day when he visited the nest, the Goose had laid a beautiful, glittering, golden egg.

The Countryman took the eggs to market and soon began to get rich. But it was not long before he grew impatient with the Goose because she gave him only a single golden egg a day. He was not getting rich fast enough.

Then one day, after he had finished counting his money, the idea came to him that he could get all the golden eggs at once by killing the Goose and cutting it open. But when the deed was done, not a single golden egg did he find, and his precious Goose was dead.

It is a very simple story but it is also true for crypto: don't get greedy because it could result in a big loss, where all your profits are gone and you end up at a big loss, no chance to recover it.
Do a detailed research, avoid risky Altcoins and keep your coins safe.

Be happy from what your profits are at and don't get greedy because it is always a good idea to avoid risk.
Don't murder your goose = HODL your Coins.

Though it is a story but true, greediness does not bring anything good under any circumstances. But it can be called a natural religion of man. When people are able to know the impacts of greed, they try to get red of excessive greed. But controlling greediness in some causes very difficult. Meanwhile the OP mentioned a story that nicely illustrates how a greedy man brings about his downfall.

Cryptocurrencies also have many investors who have lost everything hoping for additional profits. As this platform is highly volatile, people get carried away with the get-rich-quick dream as soon as they come in this platform. For this reason excessive greed works in him and he invests all his assets in a wrong place without paying attention to any rules and becomes bankrupt.

Many have also held on their crypto assets in hopes of further gains despite having good return. I think one of the biggest mistakes that people have made from crypto,which is only greediness. So one should not be overly greedy from anything.

[Razmirraz]

Do you believe greed is one of human nature?
From the story you quoted above, it can be concluded that humans will never be free from greed. Someone who already has a mountain of gold, surely aspires to add another mountain of gold. People who already have cars want to own private jets, and so on.

When the price of the crypto asset that you hold has exceeded the predetermined target limit, that's when you start to hesitate to release it at the price you want. You must think there will be an even higher price increase afterwards, this is what is called human nature. Satisfaction will never be lost on someone as long as he is still alive.

[AakZaki]

~snip~ Because when mentioning coins, it means that there are no special restrictions and are still quite common, while currently only bitcoin is able to maintain investment value in the long term.

The Right one in my opinion, Buy and HODL Bitcoin

good point and should be important when the words "coin" are meant with lots of altcoins to choose from. Bitcoin should indeed be the main investment with minimal risk compared to altcoins.
Bitcoin is the spearhead of all altcoins, and the movement of altcoins is governed by bitcoin.
Buy and HOLD Bitcoin is most recommended, it will be a good long term investment and give you more profit.

[Finestream]

I've heard this story and also seen bitcoin compared to the goose that lays golden eggs.
That said, the story can be interpreted in a different way: don't be too greedy, sell your coins when you're in profit because most investors usually lose. Be in profit, even if it's just 10%. Don't hope for 200% as you may never get it.

Being a hodler myself, I prefer your way of seeing things, OP. I'm not going to give my bitcoin away for a fraction of its ATH price. The lower it goes below the ATH the more stubborn I'll be. If they want my bitcoins they'll have to offer an arm and a leg

Or let’s conclude that bitcoin is not a get-rich-quick scheme so it needs to be hold for long term, and just sell it when you think you are already in profits. And never focus on greed, as being greedy will create wrong decisions in life. And if you are always in a hurry to make profits, you are losing the opportunity to gain huge profits in the future so just learn to be patient despite of every market uncertainty.

[LogitechMouse]

A story that I've heard so many times when I was a kid. A short story that was being told to us by our teachers back when we are still young.
Who would've know that this short story that I've heard so many times already can be a big help when it comes to investing .

I just started trading yesterday and so far I'm not at a loss, but I barely got some profit. Well, I'm a newbie in trading that's why. I'm teaching myself how to be patient. I'm teaching myself how not to be greedy.

There is no easy money in investing. I just saw a play and earn application that has a gambling feature that went shutdown and of course, they don't know who the developers are. Greedy people who thought that they will earn money thru that game invested many hoping to earn more money, but it didn't happen. Greediness in humanity is already there and there's no way we can remove it. The only thing that we can do is to teach ourselves how not to be greedy thru discipline.

[Phu Juck]

Though it is an old story, it is always relevant. I first heard and read this story as a child. Greed is bad for everything, not just crypto. It also destroys the soul and life. I've written similar things about scams many times. Only when we are greedy will we be deceived. The majority of hacking incidents are caused by greed. As a result, we must be realistic. To earn cryptocurrency, you should take a straightforward approach. This really isn't a shortcut.

You are right, Sir! It is very important, because it is also a sort of education to prevent a loss. We should know how to secure a profit and not risk to lose it. Many people have done such mistakes and only education can help to prevent such mistakes.
Especially in Crypto market, where we can always see a huge risk. Crypto is a good source of big profits when we aren't greedy. We need to protect our goose. 

[Eternad]

There is no easy money in investing. I just saw a play and earn application that has a gambling feature that went shutdown and of course, they don't know who the developers are. Greedy people who thought that they will earn money thru that game invested many hoping to earn more money, but it didn't happen. Greediness in humanity is already there and there's no way we can remove it. The only thing that we can do is to teach ourselves how not to be greedy thru discipline.

Are you talking about the recent scandal about gold farming online on our local? It became popular that all my friends invested on it and recruiting there family. They became greedy when they that many influencers is promoting this game on their respective channel that cause this game so popular and scam tons of money. They are using the cover up of casino to hide their ponzi farming.

This kind of scheme never stop because there’s always a greedy people that willing to bite the dust once they knew someone popular endorsing it despite the project itself is too good to be true in the long run.

[nakamura12]

Didn't read all of it and since it is about greed then I'll just share why being greedy won't help anyone no matter how rich you are. If you aee very rich then you can buy as much as you want and let the money talk. If it is about buying something like buying crypto then you are being greedy at that and if the price decrease then good luck with that. We have to prevent ourselves not to be greedy and because greedy is part of human nature so there's nothing we can do about it but to never getting greedy.

[Phu Juck]

We have to prevent ourselves not to be greedy and because greedy is part of human nature so there's nothing we can do about it but to never getting greedy.

We need education to avoid greed and don't fall for it.
Success is defined by knowledge + experience and in crypto, greed is a very common cause of failure.
We can only avoid greed when we really know greed is not beneficial at all in crypto. Is doesn't matter if it's a risky ICO, risky coin or risky trade. We need to be aware of it.
Greed will lead us to bad decisions and cause a big loss for us.

[Dimitri94]

We have to prevent ourselves not to be greedy and because greedy is part of human nature so there's nothing we can do about it but to never getting greedy.

We need education to avoid greed and don't fall for it.
Success is defined by knowledge + experience and in crypto, greed is a very common cause of failure.
We can only avoid greed when we really know greed is not beneficial at all in crypto. Is doesn't matter if it's a risky ICO, risky coin or risky trade. We need to be aware of it.
Greed will lead us to bad decisions and cause a big loss for us.

Greed can be said to be a natural human religion but it is important to learn to control it. It is important to know exactly how an investor can fall into crypto and how to avoid it. Otherwise at any time this greed can turn the crypto track. For those who are new investors, it is better to collect golden eggs one by one not for all.

[SOKO-DEKE]

I see greedy as enemy of success sometimes because when you are too greedy you will like to lose everything easily. This make me remember a time that I was using ideas of getting 2 odd every week and stake it with $50 and I was making $50 Profile every week despite it was gamble I was always lucky and always won the games every weeks continuous like five weeks, one day I just decided to increase my profit and change the 2 odd to 5odd and stake it with all profits I have gathered over five weeks once, so that i can make hug profits once and that is how I lose everything have gathered over five weeks once.so from that time I don't always see greediness as opportunity again.

[Gallar]

greed is indeed a destroyer in all fields, many people who are greedy become miserable. so is the case in the crypto sector as well.
Greed always breeds uncertainty which ends in failure and destruction.
it's better to be grateful for what we get, don't complain too much and don't be greedy in whatever field we are in.

[reagansimms]

This story has been commonly heard by people, both in the forum and outside the forum. This story has a special connection with Crypto investors/traders, greed can cause what you should get to just disappear.
In addition to the several important points that you have explained above, take profit needs to be prioritized and stop losses must also be executed to maintain asset value. You can collect profits little by little as long as you are consistent with the initial plan, when profits start to come to you, don't be tempted to get more.

[fadhilz123]

We need education to avoid greed and don't fall for it.
Success is defined by knowledge + experience and in crypto, greed is a very common cause of failure.
We can only avoid greed when we really know greed is not beneficial at all in crypto. Is doesn't matter if it's a risky ICO, risky coin or risky trade. We need to be aware of it.
Greed will lead us to bad decisions and cause a big loss for us.

After realizing it, it would be better for everyone to avoid it as well because if you are only aware of it while acting greedily, I don't think there will be any real success that we will get. So avoiding greed after realizing it is a much better thing too while continuing to increase knowledge and asking those who have experience, of course. Now I rarely hear about ICOs, because what I really see now is AI and Metaverse, which are probably better than ICOs. So that ICOs are very rarely seen and also heard of in the crypto space anymore now.

[libert19]

Don't murder your goose = HODL your Coins.

Disagreed and it appears misapprehension of story. It's good idea to take profits, otherwise your profits might shoo away without yourself realizing a penny.

Prominent coins like btc, ethereum are good but they should also be allocated a portion in your portfolio.

[mamesso]

Greed can have a bad impact on the psychology of investors when they lose their investment funds, it requires caution and a strong mentality because cryptocurrency investment is like a double edged sword. The ups and downs of the crypto market are always used by investors to generate profits, there are many techniques that can be applied so as not to fall into greed.
As prices improve and asset values start to increase, never get carried away with bigger profits because you never know what will happen in the next few hours. Immediately take what is yours and come back when the price is low.

[Pandu Geddon]

Greed can have a bad impact on the psychology of investors when they lose their investment funds, it requires caution and a strong mentality because cryptocurrency investment is like a double edged sword. The ups and downs of the crypto market are always used by investors to generate profits, there are many techniques that can be applied so as not to fall into greed.
As prices improve and asset values start to increase, never get carried away with bigger profits because you never know what will happen in the next few hours. Immediately take what is yours and come back when the price is low.

isn't that also not a wise choice without a consistent planning. it looks like a freak when it sees the pump and it shows profit.
just do the planning from the start, so it's either a time frame, or a selling price range for a certain profit. investors can already make the plan from the start. and it will be quieter to do.
but to be honest, when looking at the pump of course there will be a feeling of wanting to wait for the peak. so it's a shame when we miss it. even though the risk is that we will actually be trapped in some conditions that we don't want.