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Author Topic: Don't get greedy, Just take the already earned profit and leave.  (Read 7466 times)

Offline vegasus

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #30 on: January 24, 2024, 11:04:36 PM »
Greed is indeed a factor that is quite disturbing and quite influential on a person's survival and in this case also in achieving success. When trading, someone usually has a certain target to take profit or to exit at a certain rate. and indeed there are several stages to take profit so that after all we can optimize this profit as best as possible. However, sometimes human greed appears when we see that the market trend is rising. so that we don't take profit and hope that the price will go up and up again.

However, as we know, when prices have risen to a certain point, there will usually be a market correction. And this is the danger when we miss the moment to take profit at a certain rate. and actually prices are going down. That's why we really need good management to take profit from the various risks that we will face. Indeed, personally, I would also prefer to be wiser and not greedy anymore because experience has taught me many times. Panic and also greed are problems that we really have to conquer and control.

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #30 on: January 24, 2024, 11:04:36 PM »

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #31 on: January 24, 2024, 11:49:31 PM »
Dr.Bitcoin_Strange that just the fact. Greed is one of the crazy emotions that initiate alot of losses in trading to always wanting to end your trading with an whole number. Think I made the mistake of learning with my real asset and o end up losing alot because of my poor controlling of my emotions. Now I think I should also base on demo for now so that I would be able to know how to manage those emotions in trading. Like a weeks back was actually trading make good profit. I should have just call it a day no!!! Because of greed I wanted to round it up with something nicer eheheh doesn't no that I would lose but the profit I made and also the finds I traded.
The fact is that is better to make $10 profit than to end up losing funds that would initiate the thought of wanting to get that funds you have lost back. And that may end up attracting more losses, learn from others mistakes and don't let experience to be the one to always teach you...

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Online LogitechMouse

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #32 on: January 25, 2024, 05:59:47 AM »
~
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.
It's very easy to say "Always take profit" if you aren't a trader, but TBH, it's hard if you're in that position where you are up 200% in your position, but you still want more because you're too greedy.

I've been in that situation already many times. One trade, you will gain so much profit, but you want more so you will make another trade again and this time, you lose. Taking profits is very easy to do, but because there are many greedy traders, their supposed profits will turn out to be huge losses. Taking profit will never be hurtful. Just think that profit = profit, and that would be better than waiting for more, hoping to get more profits only to end up losing.

Greediness is always a problem for some traders so I guess learning how to be emotionless when trading would be helpful. Stick to your strategy. If your plan is to sell when you're up 10% then at all cases, do it, and don't wait for any longer. After all, profit is profit. :)

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #33 on: January 25, 2024, 04:22:16 PM »
~
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.
It's very easy to say "Always take profit" if you aren't a trader, but TBH, it's hard if you're in that position where you are up 200% in your position, but you still want more because you're too greedy.

I've been in that situation already many times. One trade, you will gain so much profit, but you want more so you will make another trade again and this time, you lose. Taking profits is very easy to do, but because there are many greedy traders, their supposed profits will turn out to be huge losses. Taking profit will never be hurtful. Just think that profit = profit, and that would be better than waiting for more, hoping to get more profits only to end up losing.

Greediness is always a problem for some traders so I guess learning how to be emotionless when trading would be helpful. Stick to your strategy. If your plan is to sell when you're up 10% then at all cases, do it, and don't wait for any longer. After all, profit is profit. :)
It's difficult to control greed, but for me, it can all be resolved easily when you don't need too much money, and then you can withdraw a portion of the profit you made on the exchange. After that, wait for the right moment to buy another coin at cheap prices. At least as long as you don't have to pay obligations or cover other people's finances, your life will still be peaceful because you think about yourself, and of course, the money you will collect will be faster. However, the amount of profit you get depends on you because you are the one who does it. and all of us in this forum may just provide a little insight and a little advice to make you more confident with your choice.

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #34 on: January 25, 2024, 10:54:44 PM »

Greediness is always a problem for some traders so I guess learning how to be emotionless when trading would be helpful. Stick to your strategy. If your plan is to sell when you're up 10% then at all cases, do it, and don't wait for any longer. After all, profit is profit. :)

Yes, I actually love what you said here @LogitechMouse, it will be better for a trader to be decisive about the percentage level which they want to stop the trade and take profit, because if they don't decide it and agree, they may have some mixed feelings whether to call off the trade or hold on a bit when the market begins to go in their direction.

Greed could be a problem to a trader bit it is not impossible to control, as long as the trader is willing to develop their self strategy and stand by it, they can control their emotions.

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #35 on: January 25, 2024, 11:24:18 PM »
It's difficult to control greed, but for me, it can all be resolved easily when you don't need too much money, and then you can withdraw a portion of the profit you made on the exchange.
You can deal with your greed if you have knowledge and set a realistic target. I think no one in the world who doesn't want to get much money. Every one who trades crypto coins must have the intention to get profits as much as possible. However, if you have good knowledge, you must understand how far you need to trade the coins. You also must understand the proper way to trade. So, you don't have a problem to deal with the greed.

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #36 on: January 26, 2024, 04:16:35 AM »
OP, It is your bonus trading on demo account so there is no loss to your main balance but if it was your main balance you would have faced a huge loss. The main point of all words is that you should never go into trading with excessive greed in the field of trading. The bonus actually given in the demo account is mainly given to enhance the trading experience. But instead of increasing this trading experience, many people trade with such greed that in spite of their profits, they later get over greedy and end up trading with capital losses along with their past profits. In this case, excessive greed and emotion should never be indulged in trading because these two things make trading vulnerable to losses.
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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #36 on: January 26, 2024, 04:16:35 AM »


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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #37 on: January 28, 2024, 02:44:04 PM »
It's difficult to control greed, but for me, it can all be resolved easily when you don't need too much money, and then you can withdraw a portion of the profit you made on the exchange.
You can deal with your greed if you have knowledge and set a realistic target. I think no one in the world who doesn't want to get much money. Every one who trades crypto coins must have the intention to get profits as much as possible. However, if you have good knowledge, you must understand how far you need to trade the coins. You also must understand the proper way to trade. So, you don't have a problem to deal with the greed.

You're right we can control greed if we have knowledge, experience and good emotions management in our mind.
all people want to be rich.
But we should realistic target.
If we have achieved our sales target, do it. 
Don't be greedy because greed will destroy us.
Maybe it will need long time to gain experience to manage emotions, especially greed.
time will tell..

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #38 on: January 28, 2024, 04:03:23 PM »


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.
Everyone that trade knows it's better to take the little profits first but still people still let greed play on and at the end, what they encounter is just loses and nothing to show for on their trading session. Greed that affect human is not only tired to trading as we experience this in almost every thing that we do, from gambling to even our daily life it's just like a virus that's really hard to get rid off.

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #39 on: January 28, 2024, 04:17:22 PM »


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.
Everyone that trade knows it's better to take the little profits first but still people still let greed play on and at the end, what they encounter is just loses and nothing to show for on their trading session. Greed that affect human is not only tired to trading as we experience this in almost every thing that we do, from gambling to even our daily life it's just like a virus that's really hard to get rid off.
Some people are just greedy when it comes to money or other important things like sharing things with others.
Moreover, like we all know that it is better to take the ones that you have seen first before hoping to take the ones that you have not seen or even sure of.
Traders are putting them self into big risk when they trade, and as a trader you must have the mind to endure loses just in case you lose and not gain back.
Some traders have goals and they just can't let their goals stand aplace just because of small money that they see, but taking the little ones like twice or 3× will be more than what they have set to get.

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #40 on: January 28, 2024, 06:31:25 PM »
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.
It is one reason why many don't take profits because even if the profits are available, they won't take it because they think that it will be more by just waiting for some moments. And as they wait, instead of the good ending of that wait, the bad ending comes and that's making them lose more money. It is important for traders and even with the investors to take profit when you are on that point of your trades and investments. Don't feel regret of taking them because the main reason you trade is to make money, if you forget that or tries to become greedy, remember that reason.

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #41 on: January 28, 2024, 11:45:48 PM »
It is one reason why many don't take profits because even if the profits are available, they won't take it because they think that it will be more by just waiting for some moments. And as they wait, instead of the good ending of that wait, the bad ending comes and that's making them lose more money. It is important for traders and even with the investors to take profit when you are on that point of your trades and investments. Don't feel regret of taking them because the main reason you trade is to make money, if you forget that or tries to become greedy, remember that reason.
Sometimes it is very difficult to make a decision on what to do when the price collapses; they think the price will be temporary and will rise again, but sometimes the price also falls freely downwards, making traders lose money. For me, when I make a profit of more than 30%, I will sell some and leave some to make a profit when the price rises again.

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #42 on: January 30, 2024, 10:35:20 AM »
Well, all gamblers know that greed is not good; the only problem is that they don't pay much attention to it because being greedy is important to them. Some say that they are not like that, but they reflect on the act when they gamble.

But what others do that makes them lose $1,000, I can't do that in gambling because it's too much for me. But in fairness to you, you realized in the end that it's hard to be greedy, and that's why I admire you and you admit that to yourself. I hope all gamblers admit it and help themselves when greed enters our gambling character.
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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #43 on: January 30, 2024, 11:31:00 AM »
Right now have meme coins hype, I don't know why many trader or investor huge expectation with shit or meme coin after earning much profitable keep hold it without have decision take profit. Yesterday have new meme coin receiving from airdrop who active trade in Jupiter or solana network, coins price have been up drastically more than 100% but still have holder with huge expectation will raise to higher price again and today that coins drop drastically.
Take profit as soon possible when having moment and don't be greedy when trading in cryptocurrency, many people loss their great chance after long term holding and difficult for recovering to higher price in near future time.

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Re: Don't get greedy, Just take the already earned profit and leave.
« Reply #44 on: January 30, 2024, 02:59:12 PM »
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).
Demo trades are designed to train you on how to handle your finances and real trades and anything that happens in demo can as well happen in real trades. We should adopt all necessary skills that are meant for real trades in demo trades so we get used to them when we begin to trade with real money. Controlling one’s emotions is the most important skill to master and if we can master it and know when to stop and also when to enter a new trade and keep greed out of our trades in a demo trade then there is every possibility of success in real trades.

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.
Greed is a serious issue that every trader needs to address first before they start trading if not they are at the risk of losing their money. Greed will make one to lose already earned profits because we are still eager to make more profit rather than taking profits. I will still say this again, if you can control your emotions and leave greed out of your trade then your success is only a matter of time.
« Last Edit: January 30, 2024, 03:04:39 PM by Nheer »

 

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