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Author Topic: Don't get greedy, Just take the already earned profit and leave.  (Read 3990 times)

Offline I-Bit

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #90 on: February 11, 2024, 11:51:27 PM »
Those who have trading knowledge and are professionals certainly already have a well-designed trading plan.
They know when they need to stop and take profits without a follow-up plan, but it's done repeatedly.
Indeed. Professional traders must have plans for their trading activities. They have the target for taking profits, they know how to choose the best strategy, and they know when the right time to buy coins. They also must have alternative ways when they are likely hard to get enough profits.

But if they keep losing more than expected, they keep delaying selling and in the end there will be a lot of losses,
here trading psychology will continue to play and this becomes a continuing loss.
Delaying for selling will purely depend on the coins. If it is for the top coins with strong fundamentals, it is no problem to keep delaying. But if it is shitcoins, then it is a very wrong way to delay selling the coins when the prices are good.


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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #90 on: February 11, 2024, 11:51:27 PM »

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Offline Thyplaymaker

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #91 on: February 12, 2024, 12:15:14 AM »
This something that I can't get tired of hearing because is just the fact those that always trade with greed most time endup losing big. I which I know of this sooner I would find area to manage my emotions because the greed of wanting more and not being satisfied as cause alot of losses. Always wanting bigger percentage profit and endup losing. Or having that urge to get what I have lost back instantly with trading the same coin all this are bad ones you see that those emotions are getting the best of you close market for a while take some break to get your self back in the right track and trade to earn and not cover losses

Offline elbans89

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #92 on: February 12, 2024, 06:48:17 AM »
Greed will destroy us and cause loss.  Emotion management is the main key when it comes to investing and trading.  More importantly in the world of trading, especially daily trading, it really requires experience to manage bad emotions such as greed.  Take profits, if you have met the target. Don't be greedy because the price will fall at any time.  Crypto is volatile, many people advices.
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Offline Nwada001

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #93 on: February 12, 2024, 11:40:44 AM »
It happened again the second time and again the third time, and I just kept blowing those accounts after making enough profit that I should have just taken a break every day and continued the next day.

This is one thing about trading: you need to set a limit on how much you trade in a day, and this limit should be based on how many trades you set and how much you are going to use for that trade. Even if the trade goes against you or in your favour, the moment you reach that limit, you should call it a day.
 
The moment your greed is accompanied by emotion, you are likely to lose it all in your trade. It will all start with chasing big profits, which will require you to take higher risks, and this high risk will lead to high losses.
 
The more you lose, the more you will leave to chase profit and conduct normal trades to the level where you start chasing losses. When you get to the stage of chasing losses without control, you are going to lose everything before you will be able to rest for that day.

Offline milewilda

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #94 on: February 12, 2024, 12:32:43 PM »
Greed will destroy us and cause loss.  Emotion management is the main key when it comes to investing and trading.  More importantly in the world of trading, especially daily trading, it really requires experience to manage bad emotions such as greed.  Take profits, if you have met the target. Don't be greedy because the price will fall at any time.  Crypto is volatile, many people advices.
Control emotion
Realistic mindset
Contement
Do knows on when to call it a day
Stick with your plans

Trading is never been easy and never been simple. You would really be needing to have the skills and having the patience in dealing up with this volatile space.
You would really be finding up a disaster if you are really that too greedy or really that longing for money on which we know that this isnt something that you could
really be able to constantly make profitable trades. Thing here is that you should really survive no matter what despite of those losses.
One thing that you should put up in mind is that you should be making up profitable trades even if you do suffer some losses. You do
need to make out those adjustments.
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Offline taufik123

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #95 on: February 12, 2024, 03:08:31 PM »
-snip-
Delaying for selling will purely depend on the coins. If it is for the top coins with strong fundamentals, it is no problem to keep delaying. But if it is shitcoins, then it is a very wrong way to delay selling the coins when the prices are good.
But in my opinion even if it is a top coin if it is time to Take Profit then it should be done.
But if you have a backup plan, taking half the profits and withholding the rest might be a good decision.
The delay in the sale will not see if it is the top coin or even shitcoin.

Offline de_prof

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #96 on: February 13, 2024, 05:05:58 AM »
-snip-
Delaying for selling will purely depend on the coins. If it is for the top coins with strong fundamentals, it is no problem to keep delaying. But if it is shitcoins, then it is a very wrong way to delay selling the coins when the prices are good.
But in my opinion even if it is a top coin if it is time to Take Profit then it should be done.
But if you have a backup plan, taking half the profits and withholding the rest might be a good decision.
The delay in the sale will not see if it is the top coin or even shitcoin.

Delay in the sale, always has high risk. But if they are profesy and have prediction accurately, They can do.
But I'm  not professional in trader, several time had lost when I delay to sell.
Maybe It's greedy, and greedy is bad emotion.
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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #96 on: February 13, 2024, 05:05:58 AM »


Offline Uruhara

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #97 on: February 13, 2024, 11:43:32 AM »
This something that I can't get tired of hearing because is just the fact those that always trade with greed most time endup losing big. I which I know of this sooner I would find area to manage my emotions because the greed of wanting more and not being satisfied as cause alot of losses. Always wanting bigger percentage profit and endup losing. Or having that urge to get what I have lost back instantly with trading the same coin all this are bad ones you see that those emotions are getting the best of you close market for a while take some break to get your self back in the right track and trade to earn and not cover losses
The best way to avoid losses in our condition which is starting to be dominated by greed in trading is to take a break and we can start other activities that can make us forget about the market for a moment. Because when we haven't forgotten about the market, even while taking a break, we often end up looking at the market. And yes, this also happened quite often to me when I first got involved in crypto trading. And sometimes I still feel like that now. So the discussion about emotional control in trading will always be widely discussed because everyone has experienced it.

Offline $crypto$

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #98 on: February 13, 2024, 02:07:36 PM »
Likewise, we must target how much profit we should get in each trade. Stop loss is something that must be applied when we start the entry, and I also always apply this. So that later we do not lose all the money in our wallet.
What if you use stop loss and your trade continue to hit the stop loss before the price go to the direction that you intended it to go? I have seen this countless numbers of times. This is what can make a trader to later think of going for cross margin and also have some collateral that can be used if the market is not favoring him and going to the point of liquidation.

When you are having experience in trading, your orientation will also change and that does not guarantee more profit or losses. What I just think more about reading is that you should not use more than the money that you can not afford to lose to trade. Trading is very risky than what most people are talking like they are truly making money from it but not so in real life.
Actually I have said this before, by installing a stop loss, it may make us unable to get a profit because the price may reverse when it touches the stop loss that we installed.

But of course before we put a stop loss we have analyzed how the price moves. In analyzing we must also see support and resistance which will then become our benchmark at what price we will place a stop loss or we will place a take profit.

Many things we will consider to make decisions later, and it is all tactical that happens when we analyze.

Online ajiz138

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #99 on: February 13, 2024, 04:43:54 PM »
Greed is the main enemy for a trader, greed can make someone who gets a profit turn into a loss. Never think we will get more than the target we have set at the beginning, because if we think like that then maybe greed has mastered us.

There are many cases of this greed which makes someone lose more than what they imagined. And actually this is not only in trading, but in everyday life we must also avoid greed.
investors are too optimistic and risky in investing in assets and this supports the upward trend of virtual coins.  Although others call it greed.  although the benefits from this are real. The main thing is never to neglect analysis methods, such as technical and fundamental analysis, as well as other indicators.
Optimism and greed are different things, but there are similarities and sometimes many people find it difficult to differentiate them.

The form of greed is never being satisfied with something, while optimism is more directed towards positive things. Even though they want to get a lot of benefits, usually optimistic people will not forget the risks involved, or in other words they will be more careful.

We have to distinguish between what is optimism and what is greed.

Offline taufik123

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #100 on: February 13, 2024, 11:26:23 PM »
Delay in the sale, always has high risk. But if they are profesy and have prediction accurately, They can do.
But I'm  not professional in trader, several time had lost when I delay to sell.
Maybe It's greedy, and greedy is bad emotion.
Greed is everyone's problem, and they have different levels of greed, but it will definitely happen to anyone.
Procrastination to sell for no definite reason, without calculated predictions, will only be a waste of time.

A professional trader also has their rules, take profits and execute a backup strategy by holding longer so that they have the opportunity to sell at the highest price.

Offline Gormicsta

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #101 on: February 15, 2024, 06:24:42 AM »
I agreed with you but we human we can't just let go except we see the end of the road, and start regretting that is when our ancestors will say it's okay my child,that is when we will stop.

Offline electronicash

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #102 on: February 15, 2024, 06:36:58 AM »
this bull run i think will just be like the 2017. thought its good ti just get your profit when you hit your target price. it  will be good for a trader to look aat the chart and see whether the overbought level hit the top in the 3 months chart.

its not somehow a greedy strategy but a very strategic to check the exit point. there will be a hiccup by the time we hit the previous ATH thats for sure. you can either sell and buy back or wait for the bounce.

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #103 on: February 15, 2024, 07:19:29 AM »

Greed is everyone's problem, and they have different levels of greed, but it will definitely happen to anyone.
Procrastination to sell for no definite reason, without calculated predictions, will only be a waste of time.


Delay selling if you know the highest point, no problem and That is very great.  in the world of MotoGP it is known as late braking..hhahaha. ;)
But if the prediction is wrong we will trap at high price.  This is just a big problem.  People will learn from these problems.
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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #104 on: February 15, 2024, 07:37:32 PM »
Delay in the sale, always has high risk. But if they are profesy and have prediction accurately, They can do.
But I'm  not professional in trader, several time had lost when I delay to sell.
Maybe It's greedy, and greedy is bad emotion.

Absolutely true delay in sale is highly risky but in case of altcoins as all the time there is no increase occurs in altcoins but if you are holding bitcoin then I think delay will help you to increase your profit.

Those people who have not sell their bitcoin when price increase suddenly to 47k$ so they are now in profit because of 52k$ achievement of bitcoin. You can hold top altcoins with delay to sale and waiting for more increase and also it is not consider as greediness because we know Ethereum, Solana and some other coins will definitely increase in price.

Sometimes people loss the opportunity to sell their coins at higher price and they never can realize that they will not see such pump again but this thing often happen in case of new coins. Old coin will give you more profit as longer you Hold it but one can also buy and sell their coin regularly according to their profit.
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