Do you think raising your order is always better?

[Powerjumboo]

Greetings fellas..
Though never wanted to raise this concern but I have to free my doubts and possibly take screenshots of some comments over to here to give to a friend who is into trading newly. Recently, a friend of mine started trading and when he placed a sell order on the mirror watching himself (monitoring his trade) while the market keeps increasing, nearly to his orders and instead of him allowing the order to execute he kept shifting and raising his orders since the market has moved gradually from 85k approaching to 88k plus, he went and canceled the order and placed it a bit higher above the previous, and I cautioned him not the right way to trade because what I am purely sensing here Is greed.

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?

Based on his trading process, he is placing an order by guessing and then canceling that order by guessing. In fact, it can be said that it is a kind of greed where he is in such a dilemma due to lack of proper analysis. Sometimes this happens to us too because when we are involved in trading, we make exactly the same decision. When the market goes up a little, it seems that the market will go up more, so if we have placed an order, we cancel that order and increase it again and when it goes there, we cancel it again and increase it again. This is how we trade. This is a kind of greed and lack of trading experience and skills. However, if you analyze the market and gain experience and trade, you may not have to face such a situation.

[8rch7]

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.

Greedy easily to make us not only loss opportunity to earn much profit but loss chance to buy back when price getting down, some one get greedy in trading how OP story his friend after placing order to sell when price increasing moving up sell order by selling more higher price. First loss opportunity to sell at higher price because canceling the order and place with higher price and other side when market get dump we can't buy back at lower price because our sell order not filling yet.
If not greedy the selling order filled we can buy back again after price getting down and earn double profit than canceling the previous order to place higher price, don't be greedy in trading and always set up your profit target to earn after placing sell order don't cancel any more.

[GeorgeJohn]

Greetings fellas..
Though never wanted to raise this concern but I have to free my doubts and possibly take screenshots of some comments over to here to give to a friend who is into trading newly.

Personal research or training will make a trader to be advanced in trading, sending him some comments from here it doesn't make sense from my point of views....Reason being that, not all comments here have fact or a true statement, some people analysis what they have not research on, and such kind of information without a proper research can mislead someone, especially upbringing person.

Recently, a friend of mine started trading and when he placed a sell order on the mirror watching himself (monitoring his trade) while the market keeps increasing, nearly to his orders and instead of him allowing the order to execute he kept shifting and raising his orders since the market has moved gradually from 85k approaching to 88k plus, he went and canceled the order and placed it a bit higher above the previous, and I cautioned him not the right way to trade because what I am purely sensing here Is greed.

Actually, you have told him not but the truth, except that he will not like to acknowledge a fact...Mostly traders and gamblers, what causes some of them to experience a huge loss, is greediness, if a trader keep greedy off his part, I believe that every trader will not complain losing in trading any more.

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.

He knew that price can change at any point in time, in trading anything can happen, that's why a traders always be smart or be calculative, a price can fluctuate at any time, neither increasing or decreasing, it's obvious that's has been the nature.

[pusaka]

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.

Yes, this is something that is actually flexible, it's just that whatever we do will definitely have risks in it. Now we can choose which risk we think is the lowest and of course we must be prepared for that risk.

Selling half or just taking back our capital at the beginning has the risk that we will not have a profit, but it will not make us feel a loss. So whether we're comfortable with the strategy or not, we're the only ones who know. But I just want to emphasize that the decision we make must be unanimous so that we don't regret it with deep regret.

[ancafe]

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.

This often happens because sometimes we don't close out a position when we've already made a profit because we think we can make a bigger profit, but ultimately, it doesn't work out. I used to experience this problem myself, so one time I was discussing it with a friend, and he suggested that it's better to stick to a strategy rather than constantly changing patterns when trading. Whether in futures or spot, we need to have a strategy regarding our target profit limits so we don't get too caught up in market conditions.

It's better to make a small profit than hope for a large one, but we should try to change our strategy when trading. That is why it is necessary to avoid greed in trading because most people who fail are not free from greed when trading and sometimes controlling emotions is very difficult because they think they can get much bigger profits.

[Asuspawer09]

I mean it is surely greed for sure, but if he knows what's his doing then let him do it I mean its his decision and at some point it might work, but atleast his going to learn from that mistake, going deeper is going to be a deeper and bigger hole so it is surely going to backfire, I wouldn't going to recommend trading and depending on your emotions but if he has experience he might knows what his doing and for sure he know that he might lose it or win since it is going to increase its risk if he keep on raising the order.

We need to realize that there are only a few that is making money in the market, and a lot of people are losing as well when the market drop or increase there are winners and losers, this is just normal in the market, I guess just dont mind his strategy and let him do it his way atleast he is doing it by himself and not relaying on someone else to invest for him, his getting experience and learning the reality, if he lose the money, then he will know how easy it is to lose money in the market, if he knows that already then he is aware of it's risk.