Trading and Greed

[Oluwa-btc]

One of my friends who is into crypto trading made a remark. He said, "I am gradually learning how to conquer/manage GREED. Once I make small profit while trading, I will immediately close the trade. I am not interested in making $200 with $10."
It is funny but he learned this the hard way. As a trader and even generally in life, the lesson that you refuse to learn from the mistakes of others, you'll finally learn it from your own experience.
My question to you is that, as a trader, what ways from your experience have you learnt to conquer or manage GREED?

Definitely you're on point, there's a way greed have possession on someone  and if not managed properly it'll result to some disheartening stories and regrets, it's just like buying and selling, amidst getting some profits from your sales some persons out of greed they'll always want some huge profits from it and they go about increasing the price of some of the products they sell all because of greed, which logically it shouldn't be so, and that's how trading is why buy a coin with $5 and then you are expecting a huge profits from it ranging from 100 it doesn't work that way, with your little sum you can walk away with anything that tops it abit above it's actual price.

[reefsea]

My question to you is that, as a trader, what ways from your experience have you learnt to conquer or manage GREED?

It depends on what greed means to someone. However, if someone wants to profit 2000% with one trade, obviously will either have to have a lot of patience or not care for his capital. For me, as long as I have some fair/ logical profit, I'm good. Sometimes, I continue trading the specific pair; some others I don't. The factor is that I never seek crazy returns, even if (in some cases) I "expect" them to happen. IMO, it's better to have more successful trades with low profit than 1 with a crazy one.

It depends on how we are, but having a lot of trades means we have to have a lot of capital too, so it's a bit difficult for people with small capital.

I think the most important thing is to be consistent in getting profit, even though the profit is small, but if we get it consistently then sooner or later, we will get big profit.

Usually people are not satisfied with what they get, that's what ultimately makes them greedy in trading. and greed in trading, we know it's not wise.

[SilverCryptoBullet]

It depends on how we are, but having a lot of trades means we have to have a lot of capital too, so it's a bit difficult for people with small capital.

Traders can be active or inactive and it has nothing to do with their capital zize like big or small. They can have small capital but not too active with trading and traders with big capital can be very actively trading while with big capital they can have a safer and more easier option, investment.

Trading actively or inactively is an action that is related more to their greediness and other individual traits. If they are impatient, and greedy enough to chase for "Get rich quick" chances, they will be very actively with trading even they have big capital.

I think the most important thing is to be consistent in getting profit, even though the profit is small, but if we get it consistently then sooner or later, we will get big profit.

Usually people are not satisfied with what they get, that's what ultimately makes them greedy in trading. and greed in trading, we know it's not wise.

Trading is risky, and very difficult to get profit because the market is volatile and more important it is very unpredictable. You can get profit with one or some trading positions but if you are actively trading, in net you can get loss, not profit because the fact is most traders lose their money by trading.

[Mehmet69]

One of my friends who is into crypto trading made a remark. He said, "I am gradually learning how to conquer/manage GREED. Once I make small profit while trading, I will immediately close the trade. I am not interested in making $200 with $10."
It is funny but he learned this the hard way. As a trader and even generally in life, the lesson that you refuse to learn from the mistakes of others, you'll finally learn it from your own experience.
My question to you is that, as a trader, what ways from your experience have you learnt to conquer or manage GREED?

Honestly, controlling greed and emotions is the most difficult thing. Most traders trade just fine but they get stuck in the trading world because they can't control their greed and emotions.

In my opinion, you should trade with your own hard-earned money. In this way, you won't lose as much as you would if you lost borrowed money. So first start trading with your own money to control your emotions.

[reefsea]

I think the most important thing is to be consistent in getting profit, even though the profit is small, but if we get it consistently then sooner or later, we will get big profit.

Usually people are not satisfied with what they get, that's what ultimately makes them greedy in trading. and greed in trading, we know it's not wise.

Trading is risky, and very difficult to get profit because the market is volatile and more important it is very unpredictable. You can get profit with one or some trading positions but if you are actively trading, in net you can get loss, not profit because the fact is most traders lose their money by trading.

We all agree that trading has high risks and even to get a small profit is very difficult. But is it impossible to do? No, everything can happen, as long as our abilities and knowledge support us to do it.

Usually people fail because they ignore something, even they only seek profit without a great sense of learning. This is actually a problem where someone considers trading as an instant way to make a profit. In fact, it is not the profit that they will get if it is like that, but rather continuous losses.

[fuguebtc]

Honestly, controlling greed and emotions is the most difficult thing. Most traders trade just fine but they get stuck in the trading world because they can't control their greed and emotions.

Indeed, it is not easy to control our greed and emotions. It's easier said than done, so I'm really skeptical of anyone who says they can control their greed.

In my opinion, you should trade with your own hard-earned money. In this way, you won't lose as much as you would if you lost borrowed money. So first start trading with your own money to control your emotions.

I doubt your method and even believe it will bring more risks.

What if you use your hard earned money to trade and lose it all? Trading with money you can't afford to lose won't help you control your greed better, on the contrary, it can lead to a dead end in your life. That is why people often advise each other to only use the amount of money we can afford to lose to invest, especially with risky and unpredictable markets like crypto and trading.

[bias]

It depends on how we are, but having a lot of trades means we have to have a lot of capital too, so it's a bit difficult for people with small capital.

I think the most important thing is to be consistent in getting profit, even though the profit is small, but if we get it consistently then sooner or later, we will get big profit.

Usually people are not satisfied with what they get, that's what ultimately makes them greedy in trading. and greed in trading, we know it's not wise.

It's mostly true that you need a bigger capital for start building your order book, but even if you have small capital, you don't need to put the entire amount in one order. As you said, the important thing is to make a profit, even if it's small. It's far safer this way.

[RockBell]

Definitely you're on point, there's a way greed have possession on someone  and if not managed properly it'll result to some disheartening stories and regrets, it's just like buying and selling, amidst getting some profits from your sales some persons out of greed they'll always want some huge profits from it and they go about increasing the price of some of the products they sell all because of greed, which logically it shouldn't be so, and that's how trading is why buy a coin with $5 and then you are expecting a huge profits from it ranging from 100 it doesn't work that way, with your little sum you can walk away with anything that tops it abit above it's actual price.

When it comes to business you will never be satisfied because you will always want to improve and the moment greed start setting in you will have to control it because when you are to greedy you will even go extreme just to see that there goal is met but with time when they realize that they don't need greed to succeed in there business they will eventually just let it go.

Because  there is no way that they will not regret there action so there is need for them to crol how they feel about money we know that we want the success of the investment but it most not be that you will want to get greedy about everything so we need to put things in other.

And it is because if greed that we are finding our self in this situation because everyone want to make good morning despite considering the people which is very bad we need to consider every factor before making a choice.

[EarnOnVictor]

He said, "I am gradually learning how to conquer/manage GREED. Once I make small profit while trading, I will immediately close the trade. I am not interested in making $200 with $10."

I would like you to still update us on the progress of your friend, he must have been making consistent success before I can congratulate him. It's easier said than done. Besides, greed sometimes is not what people believe it to be and making a huge money can't be automatically greedy unless you make it outside your trading system and plan. And no matter how little your target is, if you don't have good money and risk management to back it up, you are still a loser, it's only a matter of time.

[rachael9385]

One of my friends who is into crypto trading made a remark. He said, "I am gradually learning how to conquer/manage GREED. Once I make small profit while trading, I will immediately close the trade. I am not interested in making $200 with $10."
It is funny but he learned this the hard way. As a trader and even generally in life, the lesson that you refuse to learn from the mistakes of others, you'll finally learn it from your own experience.
My question to you is that, as a trader, what ways from your experience have you learnt to conquer or manage GREED?

Once you have developed such mindset in trading it would be hard for you to fall into losses that are more significant than your losses. As a  disciplined trader you must have a reasonable target, I'm going to emphasize on the word reasonable here because most people neglect it, you can't put in a small capital like 50 dollars and expect you to have a return of 500 dollars daily, the margin is ridiculous and this is a target set out of greed. you can only do this when you decide to flip your capital and to me there's no difference between this and Gambling.

[Zanab247]

One of my friends who is into crypto trading made a remark. He said, "I am gradually learning how to conquer/manage GREED. Once I make small profit while trading, I will immediately close the trade. I am not interested in making $200 with $10."
It is funny but he learned this the hard way. As a trader and even generally in life, the lesson that you refuse to learn from the mistakes of others, you'll finally learn it from your own experience.
My question to you is that, as a trader, what ways from your experience have you learnt to conquer or manage GREED?

Honestly, controlling greed and emotions is the most difficult thing. Most traders trade just fine but they get stuck in the trading world because they can't control their greed and emotions.

In my opinion, you should trade with your own hard-earned money. In this way, you won't lose as much as you would if you lost borrowed money. So first start trading with your own money to control your emotions.

If you have the knowledge of trading, I don't think emotions and greed will be difficult for you to control in trading because you have eyes which you can use to see by yourself to know what is happening in the market, either to exercise patience for the price to pump little or trade to earn profit before the price will dump. Those traders that got stuck in trading lack some tactics professional traders are using to overcome emotions and greed in trading, because you have the authority to control your emotions and greed not to miss your opportunity to earn profits.

Even though you lose when you trade with your money, it will not make you feel bad, because you know that is not the end of your crypto trading than to make some research to know how to remain consistent in profit earning.

[wmaurik]

Definitely you're on point, there's a way greed have possession on someone  and if not managed properly it'll result to some disheartening stories and regrets, it's just like buying and selling, amidst getting some profits from your sales some persons out of greed they'll always want some huge profits from it and they go about increasing the price of some of the products they sell all because of greed, which logically it shouldn't be so, and that's how trading is why buy a coin with $5 and then you are expecting a huge profits from it ranging from 100 it doesn't work that way, with your little sum you can walk away with anything that tops it abit above it's actual price.

In order to manage this greed, I think everyone who decides to trade must first have the right understanding and also good self-control when trading because with these two things, of course, everyone who trades will know better when to buy and sell again to take advantage of the assets they trade because without understanding well about the assets they trade, of course, they will set a large profit limit, but it is very unlikely that they will be able to get it and what you said is very right with the little capital used, of course we must also be satisfied with the profits we have gotten because if we have a large profit target, of course we must have large capital too.

[Sanitough]

I’ve realized that trading is not an all-time gain, so it’s either you push your greed and lose in the end, or you control your greed and prevent yourself from too much losing. This works for me while I’m trading, although you can’t totally control your greed but at least you learned to manage it.

For newbies, they won’t understand this earlier, but with upcoming experiences and losses as well, they will soon realize that greed should never be prioritized when trading.

[Cryptmuster]

I’ve realized that trading is not an all-time gain, so it’s either you push your greed and lose in the end, or you control your greed and prevent yourself from too much losing. This works for me while I’m trading, although you can’t totally control your greed but at least you learned to manage it.

For newbies, they won’t understand this earlier, but with upcoming experiences and losses as well, they will soon realize that greed should never be prioritized when trading.

Patience is more important in trading, especially in medium-term and long-term trading. In this case, we make few trades, but all of them require a lot of knowledge and experience, so it is important not just to open and close as many trades as possible, but the point is to choose the right time to enter a trade and get as much profit from it as possible, and if necessary, even wait out high volatility with unrealized losses. Beginners will most likely sell at a loss, but those who are able to be patient will make a profit, and of course it is important to take the profit in time, otherwise greed will take everything from you.

[alastantiger]

In order to manage this greed, I think everyone who decides to trade must first have the right understanding and also good self-control when trading because with these two things, of course, everyone who trades will know better when to buy and sell again to take advantage of the assets they trade because without understanding well about the assets they trade, of course, they will set a large profit limit, but it is very unlikely that they will be able to get it and what you said is very right with the little capital used, of course we must also be satisfied with the profits we have gotten because if we have a large profit target, of course we must have large capital too.

I have to agree with self control because many traders don't have that and it makes them to get easily moved by the way the market is reacting to any news that they act and make decisions in a rush which either causes them to lose the trade or not make as much potential profits that they would had been making. Having self control is underrated as one of the qualities that a trader must have. Self control works together with discipline and many others good qualities that helps you to become a good traders.

Greed is the worst enemy of a trader, not only will it turn you into a loser but also an addict too which is worst because you're going to keep trading despite it not working in your favour. Trading and becoming victorious needs alot of training and learning to perfect the strategy that you'll be using and not depending on luck.

[reefsea]

Patience is more important in trading, especially in medium-term and long-term trading. In this case, we make few trades, but all of them require a lot of knowledge and experience, so it is important not just to open and close as many trades as possible, but the point is to choose the right time to enter a trade and get as much profit from it as possible, and if necessary, even wait out high volatility with unrealized losses. Beginners will most likely sell at a loss, but those who are able to be patient will make a profit, and of course it is important to take the profit in time, otherwise greed will take everything from you.

Agreed, patience is something we must have and not only when trading, but patience reaches wider in our lives. with patience we can think more clearly and we will not rush when making decisions at bad times.

Decision making in certain situations must be done quickly, but fast is not enough because we have to see other situations. Well, with patience, we can consider all decisions, meaning when making a decision we will consider the risks that we will face when the decision is taken, so in other words we are ready for everything that will happen.

[pusaka]

I’ve realized that trading is not an all-time gain, so it’s either you push your greed and lose in the end, or you control your greed and prevent yourself from too much losing. This works for me while I’m trading, although you can’t totally control your greed but at least you learned to manage it.

For newbies, they won’t understand this earlier, but with upcoming experiences and losses as well, they will soon realize that greed should never be prioritized when trading.

In trading there are 2 things that will always happen, if there is no profit then there is a loss. Even when making a profit, if we are too greedy because we want to make a profit, then the profit that we already had at the beginning may turn into a loss because the price reverses. Every human being must have a greedy nature, we cannot deny that, because as humans we still have a nature where we are not satisfied with something. But can it not be controlled? of course it can, as long as we are willing to learn to control it. I think in this world there is always a way to prevent or minimize something, as long as we are willing to try to do it.

[Jaksonhard]

People who make many trades in a day get stressed easier and they make lots of mistakes too. These people are in panic. They can’t control their greed and therefore they are the losers in the long run.

Yes, we know that those who make a few trades a day make a lot of mistakes. And because they cannot control their man, they get involved in trading again and again. And they are always in fear that they may lose at any time. But I think it is normal for them to make a few trades for a long time, and to be involved in a few trades every week and a few trades a month. But no matter how professional a trader he is, if he cannot control his man, it is normal for him to face losses again and again.

[rachael9385]

My question to you is that, as a trader, what ways from your experience have you learnt to conquer or manage GREED?

Accept loss and do not trade to try to recover losses.
Do not have the mentality of depending on trading for income.
Have a means to make income from reliable sources like from your job.
Try as much a possible to trade with the amount of money that you can afford to lose.
Trade good assets like bitcoin and not altcoins. Trading altcoins is like you are gambling if you do not understanduch about it.

I think the main problem with most traders is the lack of self control when losing, they chase their losses continuously which leads to more losses. A strategic trader can never be moved by a loss because he knows that it's not a loss, hope this makes sense?  What I'm saying in essence is that the losses are definitely going to be there but with risk management and a proper strategy you are always going to be in profit at the end of the month.

[mcdouglasx]

I think I mastered it. It is because I am not following the charts most of the time during the day. I trust my assets and It doesn’t matter what they do in the short term. Unless there is a fundamental change in one of my assets, I don’t change positions so easily. I am not interested in the short term market movements and that makes me calm and clear headed.

People who make many trades in a day get stressed easier and they make lots of mistakes too. These people are in panic. They can’t control their greed and therefore they are the losers in the long run.

You're absolutely right.The market's emotions and movements have a way of sweeping us off our feet, especially when fear or greed takes over. In those moments, it's best to keep in mind that emotions can blur our thinking, and while stats and data might help, they can also backfire if we rely on them too much.