Do you think raising your order is always better?

[Emitdama]

Increasing the chances of profit to a higher level than the risk of loss is possible in trading because it's not gambling. This is why we are always required to learn and continue learning. The goal is to increase the chances of profit and minimize avoidable actions that could lead to losses.

Yeah, rising the order sounds like gambling strategy to me as well. Moreover in trading, we cannot have such generalized strategy for all the times. We need to react based on market conditions like volume and volatility level. When market factors are not same for all the times, how we can be sure about increasing our order to maximize the chances of profiting, yeah it would be purely gambling in the end.

I agree that we need sound knowledge on handing different market situations. Only with knowledge, we can maximize our chances of getting profits and cutting losses early. This is the reason, I always feel like that trading is not a suitable one to me.

[Scarlett_23]

I consider trading to be a high-risk job. Because to trade, you have to keep an eye on the market system all the time. Moreover, you have to analyze when to buy and sell at the right time, that is, when the best entry and the best exit will be. Sometimes, when the price drops, your hard-earned money is suddenly at risk, and sometimes, when the price increases, you make some temporary profit, but that profit is not the final profit. The way your friend repeatedly moved the sell order up after seeing the price increase in the market, shows that he is a greedy person. He is trading without a plan and because of greed, he has to change his decision repeatedly.

[tygeade]

A bit of greed won't hurt anyone. If you really think it would help you then go ahead and do it, nothing will change and you will be fine. I understand it may not be what people want it to be but that is just the case and sometimes you have to just go with what you have.

I understand this may also end with you losing more instead of earning a little, but as long as you can learn from it and make it a lesson for you then you are going to be fine. Many people end up with mistakes, the important part is to take lessons from them.

[SmartGold01]

A bit of greed won't hurt anyone. If you really think it would help you then go ahead and do it, nothing will change and you will be fine. I understand it may not be what people want it to be but that is just the case and sometimes you have to just go with what you have.

I understand this may also end with you losing more instead of earning a little, but as long as you can learn from it and make it a lesson for you then you are going to be fine. Many people end up with mistakes, the important part is to take lessons from them.

That is greed and shouldn't expect any good trader to having such behavior as it is extremely bad.
There is always a says that said we shouldn't be that waiting for what happened to others to happen to us,
rather we should be using to what happened to others to learn a lesson, with that we won't fall into any victim
and would be that self consciousness when trading, it makes traders grows so quickly and faster.

[LastKiss]

Is this not a sign of greed?

As long as he didn’t buy high and sell low, I think he’s doing just fine especially since he’s trading on the spot market  which is less stressful when prices drop. I don’t think this behavior is a sign of greed it seems more like uncertainty or doubt. From what I’ve seen in your stories, your friend probably believes Bitcoin could reach around $100,000 in the near future, which explains why he keeps changing his orders. You could tell him to stick to his strategy and avoid changing his mind too easily. Consistency matters and in the end, profit is still profit.

[Hamza2424]

I always remember a piece of advice from my friends: "If you want to survive in this ecosystem, control your emotions, create a plan, and use money without greed.".
We know that by entering the world of trading, we want to profit, but if the method is wrong and reckless, it's futile.

That's a very good advice, but it depends on the friends if they take it seriously because it depends on the nature of the subject, so it is not objective but subjective thing.

Controlling emotions take time, let alone focusing on plan, sticking with it, and not being greedy, which also falls into the emotions category.

We can't control greed in reality but with time we can build that skill.

[Cyber_warrior]

Apparently, after telling him he said why would he just sell at that price knowing too well that price is increasing, same thing happened when it was around 91k before it dropped unknowning to around 84k before having this rise again I told to take profits before the market drop he didn't obey but ended up regretting why he didn't obeyed and set a buy order around 85k, by now he could had ended up in profits while trading on spots.

Is this not a sign of greed?

Since you said the person is still new to trading, so u expect things like this to happen. What your friend is doing is purely greed. As a trader always learn to take your profit at the right time and move on, you can’t sell at the highest price always. If your target is to sell at $88k, when bitcoin price gets to that price, just sell and move on, if you keep on adjusting your selling price, then the price might just crash when you don’t expect, and you will be selling at lower price.

[Hyphen(-)]

Apparently, after telling him he said why would he just sell at that price knowing too well that price is increasing, same thing happened when it was around 91k before it dropped unknowning to around 84k before having this rise again I told to take profits before the market drop he didn't obey but ended up regretting why he didn't obeyed and set a buy order around 85k, by now he could had ended up in profits while trading on spots.

Is this not a sign of greed?

This is definitely a sign of greed. This will be a lesson to him and I am sure he have learned his lesson the hard way. Some people are not lucky to have someone advice them which is why they end up losing money but he was lucky to be advised and still he was blinded by the thirst for more money. I'm sure the lesson is well learnt and he wouldn't be greedy next time.
Bitcoin is volatile so when trading you should always have a target and not expect too much increase since you're not investing for a long time because the price can flunctuate anytime and Bitcoin value can drop anytime.

Since you said the person is still new to trading, so u expect things like this to happen. What your friend is doing is purely greed. As a trader always learn to take your profit at the right time and move on, you can’t sell at the highest price always.

You're right new traders are always bound to make such mistakes but I expect him to follow his advice since he is new to trading. When you don't have plan and you get too greedy in trading all your efforts will go in vain so always plan your moves and stick to them always.

[Joy- maker]

To be frank here, your friend is just too greedy and people like him always end up not becoming a successful trader do to greed.  greed has damage and killed a lot trader's, especially newbie traders just like your friend. And You really need to talk to your friend concerning this his habit of increasing order at some point.
See bro one thing about Trading is staying disciplined, and Your friend really needs to discipline himself In that aspect of greed if not, his trading journey is going to become so miserable.

[Fara Chan]

Since you said the person is still new to trading, so u expect things like this to happen. What your friend is doing is purely greed. As a trader always learn to take your profit at the right time and move on, you can’t sell at the highest price always. If your target is to sell at $88k, when bitcoin price gets to that price, just sell and move on, if you keep on adjusting your selling price, then the price might just crash when you don’t expect, and you will be selling at lower price.

Perhaps that's part of the initial options before trading, because changing your initial target to a new one in pursuit of profit isn't always better. It could even drag someone into a major correction, forcing them to choose between selling at a low price or holding until the price rebounds at a later time. This kind of mistake can sometimes be a mistake, although it wouldn't be a fatal one if the person owned Bitcoin, but if the person owned other coins, the risk might be much greater than you mentioned.

[Adbitco]

Do you think he really believes in your teaching?
If yes I do not see any reason why you could be mentoring your student on what to do and he keeps following his wills and after he might lose the trade then he comes regretting not to follow you.
Trading is all about believing the person who is guiding you and also trying to explore more better tools through the net without you tentatively deciding on your own or depending on what your mentor could teaches you all the time, and you must show working, I mean that your student must show proves of activities or differences.

[lornadane]

Trading requires trust in the mentor and discipline. You can’t cherry pick advice, freestyle trades, then blame the mentor when it goes wrong. If you’re being guided, you either follow the plan or you accept full responsibility for going off script.

[beerlover]

Being greedy in the crypto could be very lucrative or doomed. If things are going your way, there isn't any market in the world where you can make more money than crypto world, so being greedy would mean even more profit and that would be a good thing. Whereas, if things are not going your way then being in crypto would mean that you are going to lose even more. This is why volatility in crypto market matters and greedy will definitely play a big role in it.

Fear and Greed is so important because of this exact reason, fear makes people sell a lot more than they should when things aren't that bad, and make it even worse, and greed makes them buy even when they shouldn't and make it go up even more so it is definitely a good index to check.

[Abu-Naim]

Trading requires trust in the mentor and discipline. You can’t cherry pick advice, freestyle trades, then blame the mentor when it goes wrong. If you’re being guided, you either follow the plan or you accept full responsibility for going off script.

Regardless of what your mentor thought you about trading, emotion will definitely play an important role in your decision making as a trader, especially new traders that are not open to losing money, they easily cancel trade once they see increment if 10% in your trade, they will be willing to take profit to avoid greed.

And about sell order that is being adjusted because of the market condition, it is normal but also risky, it is better you set the order and keep monitoring the market, but normally it is not supposed to be like that, just set your order and wait till it is fulfilled.

[RewFrew]

Being greedy in the crypto could be very lucrative or doomed. If things are going your way, there isn't any market in the world where you can make more money than crypto world, so being greedy would mean even more profit and that would be a good thing. Whereas, if things are not going your way then being in crypto would mean that you are going to lose even more. This is why volatility in crypto market matters and greedy will definitely play a big role in it.

Fear and Greed is so important because of this exact reason, fear makes people sell a lot more than they should when things aren't that bad, and make it even worse, and greed makes them buy even when they shouldn't and make it go up even more so it is definitely a good index to check.

In fact, it was never thought that greed can sometimes give good feedback. We have always thought that those who greed will be in danger and destroyed. But the reality is that sometimes it is possible to get big profits due to greed. I can call greed not greed, but taking risks. We know no risk, no gain. The one who can take the risk can be a gainer. Those who are not greedy at all in life, do not take risks, they will never get anything very good.

[Bitcoin_people]

In trading, if you want to make a profit, then it is reasonable to make a profit according to an amount, if you are greedy for more, then you will definitely lose money. Since your friend behaved like this, he did not pay much attention to the market price, but he did it in the hope of making a higher profit. If he sets an order to sell, then cancel it again and place it higher later, then if the market falls, he will eventually lose money, in which case it is his wrong decision. And his greed is very high, which is why he does such activities that can be more harmful to him, that is why it is important to control greed in trading.

[pusaka]

In trading, if you want to make a profit, then it is reasonable to make a profit according to an amount, if you are greedy for more, then you will definitely lose money. Since your friend behaved like this, he did not pay much attention to the market price, but he did it in the hope of making a higher profit. If he sets an order to sell, then cancel it again and place it higher later, then if the market falls, he will eventually lose money, in which case it is his wrong decision. And his greed is very high, which is why he does such activities that can be more harmful to him, that is why it is important to control greed in trading.

Once we have set a profit limit, we must be disciplined in sticking to what we have set at the beginning. We can change it, but only to find other benefits, for example, we still set a profit target but we reduce the amount we will sell with the aim that we can hold the rest. But it must also cover at least our capital.

That's still safe in my opinion rather than us having to change our target completely. Unless we are ready for the risk, but what happens a lot is the regret that is obtained at the end because of changing the target.

[HONDACD125]

Once we have set a profit limit, we must be disciplined in sticking to what we have set at the beginning. We can change it, but only to find other benefits, for example, we still set a profit target but we reduce the amount we will sell with the aim that we can hold the rest. But it must also cover at least our capital.

That's still safe in my opinion rather than us having to change our target completely. Unless we are ready for the risk, but what happens a lot is the regret that is obtained at the end because of changing the target.

It's true that setting a target and staying true to that is very important as a trader but you are right that one doesn't necessarily have to sell all the assets they have at the set target if they don't want to, they should sell enough to recover the amount they have used and then whatever remains should be held so that if the market goes up, they can make more profit from the surge, and if the market drops, they will at least not lose money but they will lose the profits they could get if they had sold at the set target.

Those who don't want to take extra risks and lose the profits they have already gained, they should simply sell everything they have at the set target and become stress free. This is mostly better for those who know they can't afford to lose the profits they have already gained because they don't make a lot of trades or have a lot of money for making enough money to forget about the small profits.

[Lannakosa]

In trading, if you want to make a profit, then it is reasonable to make a profit according to an amount, if you are greedy for more, then you will definitely lose money. Since your friend behaved like this, he did not pay much attention to the market price, but he did it in the hope of making a higher profit. If he sets an order to sell, then cancel it again and place it higher later, then if the market falls, he will eventually lose money, in which case it is his wrong decision. And his greed is very high, which is why he does such activities that can be more harmful to him, that is why it is important to control greed in trading.

The most important thing is knowing when to stop, because you can keep moving your order up every time it feels like the market will continue to rise. But when it reverses and starts to fall, you will think that you should have taken profit earlier. That is why I am against moving an order just because it seems that the growth will continue. You need to act according to the original plan. If you initially defined the percentage you want to make from this trade, you should not be greedy. Let the market keep rising, let the order close, just take the profit and continue acting according to the market. Greed will not lead to anything good.

[SamReomo]

Is this not a sign of greed?

It's natural for new traders to not have proper control over their emotions because they want to make as much profit as possible without properly understanding the mechanics of the crypto market.

The example you gave shows pure kind of greed because your friend could've made profit during the dips as a trader but he refused to make any profit in hope of gaining more profit from the market.

Such a person should be suggested to learn about DCA and investing because whatever he did is a good step when done with DCA in mind but it's not a good thing for traders because a trader should always try to make profits from the market whenever there's possibility.