Don't be greedy – a short goose story

[dansus021]

Greed is part of emotion, trade with emotion is little bit tricky but believe me it is always like this  .

Always know how to take profit and know how to stop loses it the best for now.

But if you still greedy when trade, make sure you put stop loss above your entry zone hahaha

[Luzin]

In all aspects, greed always brings out negativity in life. There’s no such people who are always greedy end up successful in life. Yes, they may be profitable at first, but eventually they start losing all their gained profits because of greed. In bitcoin, greed should always be discouraged. Otherwise, if you invest with greed, you might keep on missing the opportunities to make profits, because you are much focused on bigger profits that you wish to achieve from bitcoin.

Sure, because being greedy is part of emotions. So if you manage to control your emotions, you should be a person who is not greedy. Because I've experienced that. I tend to want to quickly recover losses, so I want to continue trading, even increasing the amount in the trade. But in the end I lost it all. So there is a very close relationship between Greed and Emotion in trading. You have to master emotions so that you don't get greedy.

[Sakanwa]

We all know that a lot of the downfall in the society today is as a result of greed and personal interest and this can lead to loss and disappointment decision taken should be carefully observed and also the level of our instinct rises according to our thoughts

[Getmon]

Since I was a child, I have heard the tale multiple times. It is very popular. The story has a lesson to teach about patience, contentment, and greed. It can be interpreted in a variety of ways when it comes to investing. Earning money quickly without having to deal with the emotional ups and downs of the coins you hold. And, holding your coins for its long term benefits and not getting tempted each time you see little gains. If you ask me, neither is bad. Earning money is the most important matter here. They are both profitable investments, regardless of size.

[Cookdata]

Many people don't understand how the crypto market works, there is a time to take profit and a time to invest, if you don't understand this you will easily go into panic mode.

If you are into altcoin investment you need to study the Bitcoin dominance chart, you will know when money will go into altcoins after Bitcoin is done with pumping, whenever Bitcoin dominance is up altcoins will keep getting crushed and whenever the dominance is going down altcoins will increase in value, many people don't know this.

The reason many people keep holding coins instead of taking profits is that they think the price is going up, they thought they understood a thing but they do not. This is not greed, it is just ignorance.

One of the common mistakes investors make is when they notice that their investments have yielded into something, instead of them to either sell 50% or sell everything and be in stable USD, they rather fall in love with the project, that is when you see these projects bring out different news to capture everyone attention like the PayPal partnership integration and google cloud things we have seen in the past, they think this partnership will be as support for holders and believe no one will sell but crypto will always be crypto, single bad news is enough to tank the market by 50% downward.

[Faisal2202]

You have reminded me of my trades which i made back in 2020 maybe in start of 2021 i dont remember, well there was a campaign running from our university to promote farmers to grow more wheat and to help them to adopt new technologies. (Note i am a student of bscs but was assigned to join the compaign) well, i was doing trades that days and i went to field with fellows and they with them and i sometime check the charts on my phone.

I was not a good trader back then well not a good one even now but gain a little bit of experience. That day i made 15$ and i was ok then i saw another opportunity which i made while my mind was busy in another thing and i thought of that entry as good and entered the market, after some time marke tcame down i thought that's ok no tension and when i sleep at night and around 2 AM i checked my trade and i was liquidated (it was a future trade) i lost all of my profits and investment.

Point is same as you mentioned, we should not fall prey to our emotional sentiments controlled by greed which is a sign of immorality too. I made many mistakes and left trading for few months took a break and still on break. But i think, now i feel more confident after reading your post hehe.

[Luffygroove]

Greed has long been recognized as a negative human trait, and numerous tales and stories cautioning against its dangers. Lots of religions and philosophies, like Christianity and other belief systems, have identified greed as one of the seven deadly sins, further emphasizing its negative impact on individuals and societies. That Aesop story about the dude and the golden goose is a real cautionary tale about being too greedy. So, this dude got super antsy and wanted to get rich quick, so he did something pretty dumb and killed the goose. Turns out, that was a terrible idea because he lost his supply of golden eggs and ended up losing a bunch of money.

In the crypto world, people can get hella greedy in all sorts of ways. Investors might get tempted to go after fast profits without doing proper research or risk assessment, which could lead to making reckless investments in risky or speculative altcoins. It can also make people do shady stuff like pump-and-dump schemes or other illegal things to make money.

Guys, we gotta keep our cool and not get too greedy when dealing with crypto. it's key to do our homework, spread out our investments, and watch out for risks when we're making decisions. It's super important to not let our emotions get the best of us and give in to greed. That can mess with our head and make us do some crazy stuff.

[I_RodimusPrime]

As my experience greed can blind people. When we blind we always can't figure what is right and what is wrong? what is right path and what is wrong path?. So we choose whatever we feel. Then booom! Everything is destroyed in one decision. 

[Asuspawer09]

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.

Emotion was one of your enemies when it comes to trading or investing, if you get aggressive positively you could easily make mistakes on your trades maybe sell your bitcoin at the wrong prices.

I do get greedy sometimes especially back in the day when I still do daily trading when you do future trades it has leverage so you could possible loss your portfolio if you do not put a stop loss on your trades. I mean it's an easy money thing so you could easily get greedy most of the time.

In my opinion and experience the best thing to do is to have a plan and set your goal, or just be early so that you would have a lot of leverage.

[Sanitough]

That's a very interesting story with good moral lesson you have there, as it teaches about the importance of being patient in the midst of both hard and difficult times. Because just as the owner of the goose couldn't wait a single day for it to lay a new egg and sell, so do we have some individuals in the crypto world just like that, who thou wishes to enjoy the bull profit of Bitcoin, but yet can't afford to withstand whenever there is a slight bear market, but rushes to sell their coins at cheap price and later go about regretting.
So I hope with this story by O.P, newbies and other forum members, will be able to understand that patience is a virtue, and as such never let your emotions lead your actions.

Yes, you were very right then. Not just in crypto but in all types of investments, patience is of high necessity. With patience, you will never be led to wrong decision making and lose everything you have, because you always chose to weigh things first and if its right, then that’s the time you will follow the go signal. Just like in bitcoin, everything is done perfectly for long term, so if you lost your patience along the way and decide to take shortcuts, you will never be successful in the end but only lose your future profits.

[zaki12]

Even though it's just a fictional story, in the story of the goose, we can learn a very valuable lesson.  It's true, greed can be very detrimental in any investment, including cryptocurrency investments such as Bitcoin.  The cryptocurrency market is very volatile, and the price of Bitcoin can change drastically in a short amount of time.

While Bitcoin investment can bring great returns, it can also come with big risks.  It is very important for investors to have a clear exit strategy and adhere to it strictly.  This means that investors must have realistic profit targets and when to sell their assets.

There is nothing wrong with seeking profits in the cryptocurrency market, but excessive greed can lead to unnecessary and even dangerous speculative actions.  Therefore, it is recommended that investors always take the time to do research, understand the market and diversify their investments.

However, it is important to remember that investing always involves risk, and it is never certain.  In this case, smart decision-making and disciplined exit strategies are essential to avoid greed and regret later.