Greed when trading

[Natalim]

While greed may lead a trader to take excessive risks, however if greed is bearable and even well-controlled, then there's nothing to worry and avoid being greedy. We are born greedy from the start. That becomes even our drive to strive hard and work more effectively so that we will eventually reach our goal of success.

But if instance you are trading just for the sake to satisfy your greed and gain quick short term profits, then I have to say, you are trading the wrong way and that will definitely bury you into inevitable losses and regrets in the end.

[Jody.Drummer]

While greed may lead a trader to take excessive risks, however if greed is bearable and even well-controlled, then there's nothing to worry and avoid being greedy. We are born greedy from the start. That becomes even our drive to strive hard and work more effectively so that we will eventually reach our goal of success.

But if instance you are trading just for the sake to satisfy your greed and gain quick short term profits, then I have to say, you are trading the wrong way and that will definitely bury you into inevitable losses and regrets in the end.

Yes you are right, we are born with greed, it will always be attached to us, it becomes a challenge for us to be able to control it so that it does not become something that can cause harm to our lives, in this case when we trade.
From the beginning our goal in trading is to seek profit and if it is possible we definitely want a very large profit that we can get, it will always be in the minds of traders. However, as humans who can think rationally, whether it makes sense or not, I mean whether it is based on the capital we bring, knowledge and so on or not. Usually greed will come faster when we cannot think rationally, it could be because it is influenced by emotions or others. So with full awareness we must be able to control the negative things that are in us.

[Alone055]

While greed may lead a trader to take excessive risks, however if greed is bearable and even well-controlled, then there's nothing to worry and avoid being greedy. We are born greedy from the start. That becomes even our drive to strive hard and work more effectively so that we will eventually reach our goal of success.

Good traders will always take calculated risks when you do that, you are not just being greedy but you are trying to maximize your profits and there is nothing wrong with that if you are doing it with extreme care. Remember that it requires good enough knowledge and experience from a trader to be able to manage risks and one should only take risks that they know are manageable for them. Some people say that success doesn't come only with hard work, you will need to take risks to gain success.

But if instance you are trading just for the sake to satisfy your greed and gain quick short term profits, then I have to say, you are trading the wrong way and that will definitely bury you into inevitable losses and regrets in the end.

Everyone's purpose behind trading or making investments is to get profit, so there is nothing wrong with a mindset that focuses on more gains. However, as I said above, being too greedy is not good for anyone. If you have used $100 on a trade and you are getting $20 profit on it, you should take it instead of thinking that you will take profit when you get more. That is already 20% profit, what else do you want?

[shinratensei_]

While greed may lead a trader to take excessive risks, however if greed is bearable and even well-controlled, then there's nothing to worry and avoid being greedy. We are born greedy from the start. That becomes even our drive to strive hard and work more effectively so that we will eventually reach our goal of success.

But if instance you are trading just for the sake to satisfy your greed and gain quick short term profits, then I have to say, you are trading the wrong way and that will definitely bury you into inevitable losses and regrets in the end.

act of greed in trading only become beneficial when market is in very undervalued state, if the market is in a normal state, even transitioning to high Relative Strength Index, it will bite you back and you will more likely to go back to zero again or even suffer losses, been there done that, I've already experienced great amount of unrealized profit going back to zero just because I waited for an even higher price, the thing is, the tide of the market could change really fast and if you're too late to realize your profit, other people will and it can essentially bring back the price down, simply with the act of people closing their position.

so only be greedy if the price is really low, for example, when BTC dipping to $49k, you are allowed to be greedy and wait until price getting back to normal range which is $60k since the $49k is essentially impulsive deviation.

[bigmanik]

While greed may lead a trader to take excessive risks, however if greed is bearable and even well-controlled, then there's nothing to worry and avoid being greedy. We are born greedy from the start. That becomes even our drive to strive hard and work more effectively so that we will eventually reach our goal of success.

But if instance you are trading just for the sake to satisfy your greed and gain quick short term profits, then I have to say, you are trading the wrong way and that will definitely bury you into inevitable losses and regrets in the end.

Yes you are right, we are born with greed, it will always be attached to us, it becomes a challenge for us to be able to control it so that it does not become something that can cause harm to our lives, in this case when we trade.
From the beginning our goal in trading is to seek profit and if it is possible we definitely want a very large profit that we can get, it will always be in the minds of traders. However, as humans who can think rationally, whether it makes sense or not, I mean whether it is based on the capital we bring, knowledge and so on or not. Usually greed will come faster when we cannot think rationally, it could be because it is influenced by emotions or others. So with full awareness we must be able to control the negative things that are in us.

So basically you are saying greed is a good thing for traders to have provided that it is accompanied with rational thinking
Well agree with you to some extent but I  feel greed it self can sometimes affect the way a trader thinks thereby forcing him to make irrational decisions

[Slow death]

when I read this thread, I asked myself the following question:

How many people make money day trading?

I went to Google and found an interesting article that says the following:

- 4% of people were able to make a living with adequate capital, access to mentors, and practicing multiple hours every day during the week.

- Roughly 10% to 15% could make some money, but not enough to make it worth their while to continue trying to do it for a career.

- Of the 4% who make a living, that doesn’t necessarily mean a good living. If you want to rich you’ll need to be in the top tier of that 4%.

source: https://tradethatswing.com/the-day-trading-success-rate-the-real-answer-and-statistics/

Most people give advice to other people, but these same people who give advice are not successful in day trading. But they are still giving advice. The truth is that few people can make a living from day trading. Most people are losing money. The guys who consider themselves mentors make money from the mentoring they do, they don't make money from day trading. But they are experts at lying. They constantly post photos in luxurious places and say that it is thanks to the day trading profits that they are having, this is a lie to attract naive people.

[tvplus006]

...Greed in my opinion is like a pitfall for traders and this will make them do somethings that defy the laws in which they made for themselves to keep them from unnecessary loses...

If your order is already in profit, try to close it in parts as the price increases. And at the same time, it is necessary to move the stop loss to the breakeven area. This will help you make a profit and avoid a loss if the price moves in the opposite direction to your expectations.

[nara1892]

Yes you are right, we are born with greed, it will always be attached to us, it becomes a challenge for us to be able to control it so that it does not become something that can cause harm to our lives, in this case when we trade.
From the beginning our goal in trading is to seek profit and if it is possible we definitely want a very large profit that we can get, it will always be in the minds of traders. However, as humans who can think rationally, whether it makes sense or not, I mean whether it is based on the capital we bring, knowledge and so on or not. Usually greed will come faster when we cannot think rationally, it could be because it is influenced by emotions or others. So with full awareness we must be able to control the negative things that are in us.

So basically you are saying greed is a good thing for traders to have provided that it is accompanied with rational thinking
Well agree with you to some extent but I  feel greed it self can sometimes affect the way a trader thinks thereby forcing him to make irrational decisions

It seems like you misunderstood my friend, because when you are able to think rationally then it means you will be able to avoid greed, because rational thinking will lead you to a consideration before making a decision, simply you will be able to distinguish between what makes sense or looks realistic and what does not. On the other hand you have said that greed can affect a trader's rational thinking pattern before they make a decision, so maintain a rational mindset and your awareness of various unwanted possibilities such as the risk of loss if you do not want to fall into decisions that lead to greed.

[RockBell]

Yes you are right, we are born with greed, it will always be attached to us, it becomes a challenge for us to be able to control it so that it does not become something that can cause harm to our lives, in this case when we trade.
From the beginning our goal in trading is to seek profit and if it is possible we definitely want a very large profit that we can get, it will always be in the minds of traders. However, as humans who can think rationally, whether it makes sense or not, I mean whether it is based on the capital we bring, knowledge and so on or not. Usually greed will come faster when we cannot think rationally, it could be because it is influenced by emotions or others. So with full awareness we must be able to control the negative things that are in us.

we might be born with greed but that does not mean that we have to continue being that greedy because most gamblers who have lost their life the starting point is not more than greed so we should just calm ourselves and do everything moderately, i noticed that when you don't do things moderately then there is always a big problem. and I don't greed is of any use to us there is always a need to want to do more and when you are greedy you won't even be satisfied because always you are going more and there are people that am sure that they won't even use Tp or SL they will want to go in directly. and if it is about the capital you bring then why risk everything all in the name of greed? and a knowledgeable person about Bitcoin will not even have anything to do with taking excessive risk and that is why they should better still just hold that is even fair enough when you dont have any option than to just wait, after buying then you hold and sell when the price is high.

[Awaklara]

It seems like you misunderstood my friend, because when you are able to think rationally then it means you will be able to avoid greed, because rational thinking will lead you to a consideration before making a decision, simply you will be able to distinguish between what makes sense or looks realistic and what does not. On the other hand you have said that greed can affect a trader's rational thinking pattern before they make a decision, so maintain a rational mindset and your awareness of various unwanted possibilities such as the risk of loss if you do not want to fall into decisions that lead to greed.

maintaining a rational mindset that can sometimes be out of control by traders. especially for traders who trade quite often, with the possibility of certain pressures can make our thinking unclear. trader conditions sometimes force themselves to continue trading. of course the situation can be difficult. but you are right, when a trader can think rationally or at least stay in good emotional control. traders can avoid being greedy in their trading.
traders can plan their trades well, but sometimes in the process traders sometimes get pressure from certain situations. we may not be able to avoid it.

[Dzwaafu11]

Yes you do not necessarily need a mentor to overcome greed but for a newbie who just started trading he or she may not even realise that they are being greedy that's where the role of a mentor comes in

Why won’t you realise that you are greedy when you are trading? You must be aware of all the necessary things before starting trading, so greed is one of the most important things you should be able to overcome before you start using hard-earned money to trade; if not, you will lose your money in any trade you make as long as you are greedy. So even if you are a newbie, you need to know; however, your mentor is not the person to stop you from being greedy; he can only guide you on what to do and not to do.

Greed is not something we see physically, so you may be greedy and your mentor will not know. Furthermore, your mentor will not be with you anytime. Greed is what you should avoid by yourself as a trader. Is not everything your mentor will tell you? Greed is an emotion and not a physical thing that your mentor will see and tell you to avoid.

[dunfida]

Yes you are right, we are born with greed, it will always be attached to us, it becomes a challenge for us to be able to control it so that it does not become something that can cause harm to our lives, in this case when we trade.
From the beginning our goal in trading is to seek profit and if it is possible we definitely want a very large profit that we can get, it will always be in the minds of traders. However, as humans who can think rationally, whether it makes sense or not, I mean whether it is based on the capital we bring, knowledge and so on or not. Usually greed will come faster when we cannot think rationally, it could be because it is influenced by emotions or others. So with full awareness we must be able to control the negative things that are in us.

So basically you are saying greed is a good thing for traders to have provided that it is accompanied with rational thinking
Well agree with you to some extent but I  feel greed it self can sometimes affect the way a trader thinks thereby forcing him to make irrational decisions

It seems like you misunderstood my friend, because when you are able to think rationally then it means you will be able to avoid greed, because rational thinking will lead you to a consideration before making a decision, simply you will be able to distinguish between what makes sense or looks realistic and what does not. On the other hand you have said that greed can affect a trader's rational thinking pattern before they make a decision, so maintain a rational mindset and your awareness of various unwanted possibilities such as the risk of loss if you do not want to fall into decisions that lead to greed.

There would really be those moments or times that we would really be able to feel up that greed and this is something that we cant really be able to deny on which we know that human beings are really that normally greedy inside, there are really just those people who are really that good on trying out to control or surpress it but there are people who do fail on doing so. This is why we would really be seeing different outcomes or situations into those people who do becomes too greedy and to those who are really that thinking up rationally or simply wary on the actions that they are taking or making. This is why it would really be that recommended that on the moment that you do deal up with crypto space then make it sure that you wont really be finding yourself that too desperate for profits.

Take it slow and surely on which learning isnt something that could really be done overnight. It will really be that a very long time on trying out to acquire good trading skills and trying out to enhance it.
Risks management is really that something crucial factor on which it would really be that making you do able to survive this volatile space. You would really be finding out its relevance on the moment
that you've seen yourself hovering into this space. Just make yourself be wary about on the things happening around and just go act on what you should gonna supposed to do.

[ethereumhunter]

Green is greed, red is fear; and most of people bought when color is green and sold their bitcoin when color is red. They were greedy when market has high risk of top and were fearful when market is bottoming.

If you can do oppositely, you will get profit.

If they can feel what happen to them, that will be enough for proof that greed could affect them in trading. I admit that they will buy when the market is green instead buy when the market is red. They don't think that if they buy when red, the market will still go down so they delay it. They rather to buy when the price reverse the direction. That will always happen if they can not learn from their mistake.

We must control ourselves in trading so we must control our greed. Take your profit if you think market can not still go up so you can take a rest from trading and analyze more to find when to enter to the market.

Yes, that's how it is, clear thinking is very much needed by a trader in developing his trading business in order to continue to make a profit in good conditions even though the profit is only a little at least the trader is still safe as long as he maintains the strategy properly and correctly.
Correctly monitoring market conditions is also very important for traders in carrying out buying and selling activities if market conditions are good then traders must be smart in making rules on how to trade to make a profit but if market conditions are bad then traders must be willing to be patient with the situation.

By having clear minds, he will not trying to chase the profit especially when the market is unstable. He will know when he should take his profit and leave the market for a while. He can back to the market in the next hours when he see the situation is better than before. That will no need to force himself to hold his profit while he can take it because when the market is change, he can lose his profit and need to take for some time. Monitoring market conditions will be important because he can start analyze and know when to enter the market. Greed is something that they must avoid so they will not miss their profit. They have many times to take their profit in the next trade.

[zuzie]

By having clear minds, he will not trying to chase the profit especially when the market is unstable. He will know when he should take his profit and leave the market for a while. He can back to the market in the next hours when he see the situation is better than before. That will no need to force himself to hold his profit while he can take it because when the market is change, he can lose his profit and need to take for some time. Monitoring market conditions will be important because he can start analyze and know when to enter the market. Greed is something that they must avoid so they will not miss their profit. They have many times to take their profit in the next trade.

Yes and the conclusion is that traders do not have such great greed because they can control positive thoughts when they sell in the market, of course with a clear and positive mind traders can know the strategy that must be done when they see unstable market conditions they will not be greedy and force unimportant wills in order to maintain the stability of their trading because that step is what helps traders not experience big losses when market conditions are bad.

[justdimin]

Why won’t you realise that you are greedy when you are trading? You must be aware of all the necessary things before starting trading, so greed is one of the most important things you should be able to overcome before you start using hard-earned money to trade; if not, you will lose your money in any trade you make as long as you are greedy. So even if you are a newbie, you need to know; however, your mentor is not the person to stop you from being greedy; he can only guide you on what to do and not to do.

Greed is not something we see physically, so you may be greedy and your mentor will not know. Furthermore, your mentor will not be with you anytime. Greed is what you should avoid by yourself as a trader. Is not everything your mentor will tell you? Greed is an emotion and not a physical thing that your mentor will see and tell you to avoid.

Greed isn't a black or white type of thing, you are not going to see how that works at all, and you wouldn't know if you are being greedy or not. Just because we can use the word easily, doesn't mean that we are going to be able to realize it when it is happening. Of course if you buy something cheap, wait until it goes up, do not sell at the top, and then the price goes down, you will be able to say you were being too greedy afterwards, but you are only capable of saying this afterwards.

When price is still going up, you do not know if the price will keep going higher or not, you will try to find a way to make yourself wait more and more, because if you sell earlier then you would lose more profit chances. The reason why people keep waiting for higher and higher prices is because they think bitcoin can reach higher prices and bitcoin has done that before. So, there is no greed you can understand before you realize, you only see greed after it's too late.

[Rockstarguy]

Being too greedy can never be good for a trader as it will lead you to debts,it can cause health and mental issues, it can destroy your reputation

Greed and over confidence must be put aside when it comes trading, the two are different characters but they have the same outcomes which is lose. As a trader one of the things that one must always put in practice is to know when to stop trading.

If you keep on trading just because of greed it is possible for one lose and if you keep on trading having so much confidence it can also end up as lose. Their is nothing good about being greedy, if you keep chasing to get mich profit in the market you can even end up losing everything,  it is better to always have a limit of when to stop trading.

[EarnOnVictor]

Greed is generally bad but what I am about to advise may look awkward, notwithstanding, in my trading experience, greed could either work against you or for you. I emphatically advise the young traders to avoid greed 100%.

However, if you are an experienced trader, greed or not, you are already an adult in market trading, so if you've had a good track record and are so confident about your trading system, I tell you that you can take some risks that other might term as greed but you will only use it as a stepping stone to earn more. This is not to preach higher risk for you, it's all about how much you trust your trading system. If your trading system is not trustworthy, just avoid it entirely and stick to the most conservative way.

Above all, the trading system and your level of experience are the main considerations here, you should never go against the system but you can still stretch its efficacy if possible, that's what I am talking about.

[yhiaali3]

Greed is one of the most dangerous bad traits in a trader that causes him permanent losses, whether due to not taking profits at the right time or due to entering into excessively high cheat coin deals. Also, whales’ manipulation of the market depends on the greed of traders.

Even pumps depend on the greedy traits of traders, when a greedy trader sees the coin rising significantly, his saliva waters and he thinks that it will continue to rise, so he buys at a high price and after a while he is surprised by a vertical fall in the price and loses his money.

[Mahanton]

Being too greedy can never be good for a trader as it will lead you to debts,it can cause health and mental issues, it can destroy your reputation

Greed and over confidence must be put aside when it comes trading, the two are different characters but they have the same outcomes which is lose. As a trader one of the things that one must always put in practice is to know when to stop trading.

If you keep on trading just because of greed it is possible for one lose and if you keep on trading having so much confidence it can also end up as lose. Their is nothing good about being greedy, if you keep chasing to get mich profit in the market you can even end up losing everything,  it is better to always have a limit of when to stop trading.

You would really be able to realize things on the moment that you would really be facing up some issues or problems on which you would really be having those kind of minding about on what happened specially
if you do become that overconfident when it comes on handling yourself towards trading. There would really be those people who do normally act out with this kind of situation on which they do really believed
on that they could actually make a good grasps within this market in a short period of time. On the moment that the market will really be having that actual sample on how it looks like, then they would really be
making up those kind of finding and thinking that i wasnt really that simple in the first place. Greed could always come because human beings are naturally greedy so this is normally the first thing that comes out.

Its important to have that kind of control and moderation with this stuff on which on the time or moment that you do make trading. You would really be finding it to be that something relevant or thing which is really
that needed. Trading with volatile space will really be needing or crucially be needing up that good risks management on which we know that money or capital is something that must be put up
to earn money. With having that strategies and ways on how to handle your position then it will really be basing up with traders decisions and point of views.

[bigmanik]

Being too greedy can never be good for a trader as it will lead you to debts,it can cause health and mental issues, it can destroy your reputation

Greed and over confidence must be put aside when it comes trading, the two are different characters but they have the same outcomes which is lose. As a trader one of the things that one must always put in practice is to know when to stop trading.

If you keep on trading just because of greed it is possible for one lose and if you keep on trading having so much confidence it can also end up as lose. Their is nothing good about being greedy, if you keep chasing to get mich profit in the market you can even end up losing everything,  it is better to always have a limit of when to stop trading.

I don't agree with you
Yes I admit that overconfidence comes with it's retribution
But as a trader especially as a day trader you need to have confidence in your analysis
If you lack confidence in your analysis it may cause you to exit trades that you would have been profitable in
You need to stand your ground and be confident in your analysis while also being able to adapt to changes in tye market