Don't get greedy, Just take the already earned profit and leave.

[xSkylarx]

One piece of advice that I got from the internet is that to have a target profit on that day, the target profit should be achievable and not that huge. Also, limit your trades like 1 or 2 trades per day, no matter how good the market is because this really starts the greed. Though it still requires proper discipline having to start with that advice and strategies can give you more control over yourself, preventing you from blowing out your account.

[Charles-Tim]

Apart from greed and whatever that is involved, I also think that there is a great difference between trading with demo account and real life trading. The emotions is different. While on the demo account, you are so sure that your money is not varnishing. Maybe you will be a little bit reckless, while you have to be careful trading with your real money. That's why it most times seems that there's a big difference between a demo account and a real account.

Using demo account is very different and that is just not trading but learning and playing. Demo is just to learn and also about how trading works and nothing more than that. You can also use it to test new strategies. In demo, there is no emotion at all.

One piece of advice that I got from the internet is that to have a target profit on that day, the target profit should be achievable and not that huge. Also, limit your trades like 1 or 2 trades per day, no matter how good the market is because this really starts the greed. Though it still requires proper discipline having to start with that advice and strategies can give you more control over yourself, preventing you from blowing out your account.

One of the reasons most traders are losing is just like the confidence they have when the are making profit. They may have in mind to just trade ones per day, but if they are making profit, they will think to double it. It might get to a time they will make more than 5 trades in a day and the loss may start. I know a trader that tells me how he will trade the first in a day and make profit but end in losses before the night after many trades. Greediness should be avoided in trading.

[Hamza2424]

It's not about being greedy, it's about being clear about the percentages. You say that $100 is a good profit, it depends on the percentage of profit in reference to the initial investment:

ROI = [(income – investment) / investment ] x 100

That is, it is a 10% profit. (in an investment of $1000)

So, if your profit margin is 15%, being greedy is not your plan (vice versa).

Totally agreed with you, I am well aware of the ROI as I have a good understanding of crypto market and I trade frequently. So I know when to become greedy and when to fear the market. I was trying to emphasize the importance of knowledge and analysis that a newbie and pro trader should always perform before making any trade.

Greed and fear, I read some topic related to this, and my opinion between them is, you have to be educated enough to determine between greed and fear. And you can do that by doing your homework. If I have already made my plan of taking 15% or 20% profit margin and if I am getting that then of course I will call it a successful trade, because I got what I predicted. But what I am trying to say is, one might have fixed his profit margin for 15% while another expert who knows this pair can give us more than that. Why? because he have more experience, or more knowledge.

[Bodhi2021]

It was all cause by greediness, so while we are trading we should also be careful and remember how to protect our capital, though everyone always fall a victim of such we might not know at that time unless we we have learn since it is said experience is the best answer , because we might see since the more we invest the more our earnings accumulate, also for every successful business man when you ask them how far they have come before getting such position they are now, you will agree with me that they have encountered so many difficulties and set back along there way but didn’t relent because they have a targeted goal they want to Achieve . Remember an (Adage) that say the more you invest on something the more the risk of loss come. So what am saying here always invest less so when it falls you won’t encounter a lot of lost, remember even the tortoise never relent and always have that zeal to get to is destination even with is slow move.

[KryptoBull]

One piece of advice that I got from the internet is that to have a target profit on that day, the target profit should be achievable and not that huge. Also, limit your trades like 1 or 2 trades per day, no matter how good the market is because this really starts the greed. Though it still requires proper discipline having to start with that advice and strategies can give you more control over yourself, preventing you from blowing out your account.

Besides limiting the number of trades per day to control greed and maintain sanity, I think TakeProfit is also important.
Any trades should have 3-5 clear TP so we can protect capital and a portion of profits, no matter how small. In particular, when enough capital has been recovered, profits can be easily managed and often create huge profits for traders.

[Litzki1990]

It is difficult to actually come back from such a situation. When a trader makes a profit by trading, he will want to increase the amount of his profit. After a successful trade he will be more inclined to take more trades to increase the amount of profit. If a trader earns fifty dollars in one day, he wants to earn more money the next day. It is natural to do this because one never comes to business with a short-term plan but has a long-term plan to do business. But if those traders can trade properly then it is okay for him to wait but if he earns some money depending on luck only then later luck may not help him which will result in loss of money. In addition to trading in new situations, one should try to learn more details about trading so that he can sustain his trading with sufficient knowledge.

[LUCKMCFLY]

It is difficult to accept things when you need to do what you can win or lose in trading, normally we always want more, but that must be managed very well , sometimes I tell Everyone I can that we have to see the trading as if it were a business , a business where you get daily profits and that's it, you don't have to look at it any other way, for example if in a Transaction in the day I earn 5 USD, that's super good for me, or if I earn more Well, welcome, I say this because a business is like that, in a business we can only become rich from one day to the next , normally in a traditional business the ROI is 3 or 4 years , this is how a profit is made or generated good business, and the same applies to trading.

If we apply or consider that business for trading , we will be doing things well , with patience and little by little, it is the easiest way to do it.

[UNIVERSE]

Greed will surely destroy us. even though for example not yet, at some point we will definitely get the results, we just have to wait for the time... and indeed when trading, one of the things that influences our decision to take profits is greed. Because it's not uncommon for us to lose the moment because we act greedy with the profits we should get.

[therozaq]

Greed will surely destroy us. even though for example not yet, at some point we will definitely get the results, we just have to wait for the time... and indeed when trading, one of the things that influences our decision to take profits is greed.

Yeah, don't be greedy, It's bad emotional.
I agree with OP, just take the already earned profit and leave.
We have feel this at anytime.
When we have gotten profit, but still hold.
and then the market dump.
It's because of greedy.
Why we don't sell ASAP when target reachable.
It's really funny, but I often do it... hahhaha

[R100K-Martin-Lunger]

I started rehearsing my trading skills and strategy again on my favorite derivatives trading exchange, which is Digifinex. Although I am not yet trading with real money, I am still on the demo account, which usually offers a demo balance of $1000. Honestly, since I started practicing again, I have blown the demo balance more than three times now. First, when I started, I increased the balance from $1000 to $1500+ just in a day. I should have just rested for that day after making such a profit, but I got greedy (that's what it is) and decided to keep trading if I could increase the balance up to $2k, but my last trade blew the account.

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.

You guys might be thinking that this is just a demo, so why worry? And my reply is that there is a need to worry because you can actually use the demo account to learn how to master and control your emotions and how to listen to your inner voice when it speaks to you to stop. You will also learn how not to get greedy, but you can achieve those characters if you actually handle your demo balance as if it's already your main balance (your real money).

Conclusion: I feel that greed is one problem in trading that can actually lead to unexpected losses. My advice is that, as a trader, always take that profit you have made. If, for example, you entered a position and it's really going in your direction, if you have seen a +$100-$500 profit, it's better to take it first.

Absolutely, your experience with demo trading is a crucial part of learning to manage greed in trading. Blowing a demo account multiple times is a valuable lesson in discipline and emotion control. It's essential to treat demo funds as real money to hone skills effectively. Your conclusion is spot on: in trading, securing profits and avoiding greed-driven decisions is key. Keep using these demo experiences to refine your strategy and emotional control. It's a process, but with persistence, you'll get there!

Do keep in mind that this is one of the best Time to Trade Crypto:https://r100k.com/blog/best-time-to-trade-crypto-2024.

[R100K-Martin-Lunger]

I feel that greed is one problem in trading that can actually lead to unexpected losses. My advice is that, as a trader, always take that profit you have made. If, for example, you entered a position and it's really going in your direction, if you have seen a +$100-$500 profit, it's better to take it first.

Of course, greed always becomes the obstacle to succeed in trading. If we always feel greedy, we probably will end up with sever losses and missed the chance to gain good profits. I have experienced it several time, I failed to get good profits because I became too greedy. Sure, if we are in the right way to take profits around $100-$500, it is better to decide taking profits. There is no guarantee that we can get higher profits.

Absolutely, striking a balance in trading is crucial, especially with the upcoming Bitcoin halving. This event is often seen as an opportune moment to trade, given its potential impact on the market. The halving can create unique market conditions that savvy traders can capitalize on. With this in mind, now might indeed be an excellent time to refine your trading approach. For more insights on why this period is particularly significant, and how to make the most of it, I recommend checking out this insightful blog post: Best Time to Trade Crypto in 2024(https://r100k.com/blog/best-time-to-trade-crypto-2024) . It offers valuable perspectives that could help you in aligning your trading strategies with these market changes.

[Coinmama7824]

Well... I agreed with you but I don't think with the greediness in us, if we can just leave without having second thought of what if it's still increasing. But for me even if I didn't get to gain my capital even if it's half of it, I leave because it's better to have half than to loose all my money.

[Sim_card]

Trading on Demo account is quite different from trading will real funds, because you are not losing anything. The way it is on demo will not be the way the market will be like when you go into the market. It is just like gambling, when you are playing on demo account, you can win easily but on real money, you cannot win the house hedge. Trading needs patience and contentment, so that you don't end up losing, the little profit that you already made. Greed is something that can lead to great loss, when trading due to the volatile nature of bitcoin, and this is why, you don't need to allow your emotion to control you but rather control your emotion.

[gunhell16]

If you demo trade, it's like you're just playing, and you won't feel the regret of what you're doing because, in the demo, you still have the will to buy or sell a large amount. That's why, in reality, when it comes to trading in crypto or bitcoin, there is a big difference.

Because of reality, of course, real money is already working, so instead of starting the demo account on the trading platform, it is better to start the lesson and learn to trade, especially learning about the tool indicators that we will use in trading and practicing how to do technical and fundamental analysis.

[Faisal2202]

Conclusion: I feel that greed is one problem in trading that can actually lead to unexpected losses. My advice is that, as a trader, always take that profit you have made. If, for example, you entered a position and it's really going in your direction, if you have seen a +$100-$500 profit, it's better to take it first.

You are right but to some extent only, because if we are always in a hurry to book the profit we might end up in a situation called as panic sell. I mean, if our first priority is to book profit no matter how much profit we are making then we will end up making less profit but yeah it is better then making a lose at first hand.

So I agree with you on this only, according to your example, the profit is good and we should really book it at first had, or at least book the profit equals to our investment so we will be risking the remaining profit only, as the investment is already being covered. But sometimes, taking the profit and leaving the market also comes under the category of Greed for example a small profit you made and quickly exit the market even the market had more potential.