Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Dr.Bitcoin_Strange on January 18, 2024, 10:50:20 PM
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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.
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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.
Perhaps all traders are and will continue to have/test/retest unpleasant emotions and experiences like this. Traders all know that before learning how to make a lot of money, we must learn how to protect capital and protect profits. Although greed makes us expect the best and continue to hold positions, we need to control risk well to protect our hard-earned profits. Stop-loss and Take-Profit will help traders protect capital and profits effectively. Discipline will help us avoid many regrets.
Anyway, that's still just theory, depending on traders' expectations, the actions will be different. For example, when trader bought BTC from $20K and expected BTC to reach $150K by 2025, the decrease in BTC price from $49K to $42K is still not worth worrying about even though it blew away 17% of the profit 😅
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I would say it depends on the amount we are talking about to be fair. If you are trading with 1000, and make it 1500, then maybe you could stop but I could understand not stopping neither, 500 dollars is not an amount that would mean anything to anyone, sure its good to have, I would be insanely happy if I had that much now, but that doesn't mean that you are going to end up with that much profit in the end, its not that clear. So when you get to do that, I would guess that it could maybe make sense for you to have some sort of different income possibilities. On the other hand, if you turn 1 million into 1.5 million, you should obviously stop lol.
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As for my way of trading, it is very peculiar, it is simple, when I do it I establish what is my stop and what is my take profit, but since some exchanges do not have both things established at the same time, well, what I do It is to put a stop loss with a maximum of 8% loss, never 10%, and a take profit of 3xstop loss, in case the exchange is accepted I do both things like this, and I don't have any type of emotion, I just return at night and I check, if it touched my stop loss then I assume my loss and that's it, there is no problem, but if I win, well, because I have seen the trading in the correct way, the exchange that is ideal for me is BITFINEX, and I like it because the operations are entered with a stop loss and a take profit at the same time, this is something I like a lot, because that's the only way I can be calm, on the exchanges where you can't do that, basad that Bitifinex is very expensive to do anything, because I only keep an eye on the price and I move the stop loss, but it is something that is stressful because I have to be glued to the PC all the time.
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...//:::
+1
In simple words (fish), stops are not set only for profits, in fact it is the same for losses, and it is something that must be taken advantage of according to the exchange, doing it manually is "sick".
In the case of OP, I think that "playmoney" is the result of how you would do it with real money, that's what it is for, and in fact it never stops being used, there are strategies that are tested out there before, even having experience, they use play money is not just something for beginners.
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As for my way of trading, it is very peculiar, it is simple, when I do it I establish what is my stop and what is my take profit, but since some exchanges do not have both things established at the same time, well, what I do It is to put a stop loss with a maximum of 8% loss, never 10%, and a take profit of 3xstop loss, in case the exchange is accepted I do both things like this, and I don't have any type of emotion, I just return at night and I check, if it touched my stop loss then I assume my loss and that's it, there is no problem, but if I win, well, because I have seen the trading in the correct way, the exchange that is ideal for me is BITFINEX, and I like it because the operations are entered with a stop loss and a take profit at the same time, this is something I like a lot, because that's the only way I can be calm, on the exchanges where you can't do that, basad that Bitifinex is very expensive to do anything, because I only keep an eye on the price and I move the stop loss, but it is something that is stressful because I have to be glued to the PC all the time.
Yes, I equally agree on setting the stop loss and take profit because it will help the trader exit the market without mixed emotions. If perhaps the trader was to cancel the trade manually by themselves, they might have mixed emotions, considering if they should stop the trade or wait a little longer, and at that moment they could actually take a decision that could result in a bigger loss or profit. The results might not be certain at that moment.
Digifinex, which I am using, has features that satisfy my needs; as a matter of fact, they also have stop-loss and take-profit. I think I will have to initiate the use, like your suggestion.
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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.
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This may be considered ordinary advice and we are used to hearing this advice. This advice is really important for those of us who trade so that we don't get greedy when trading cryptocurrency. Because after all, if we are greedy, this will make us more likely to not make a profit or actually make a loss. and this may lead to certain regrets.
That's why it's true that we have to have an understanding so that we can set our trading target at a certain number and then decide to exit after getting a profit at that target. Don't let us be tempted by changes in the market so we quickly change our position without thinking about what the future holds. Actually, this is to reduce our risk of loss.
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~ 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.
You're right
If we already get $ 100-500, I think we should decide take profit.
Don't be greedy.
Trading is how about to manage our emotion.
I agree with you no guarantee that we will get higher profits.
And we know market is always movement, go up and down every time.
Keep focus.
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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.
I agree with your point and faced this issue in my trading experience too. I also become greedy while making trades, I guess you must have taken break from trading for the same reason of not having control on your emotions I also have the same emotions and I can't control on them sometimes. I mostly made loses due to following signals of big influencers, and the big mistake I mostly did is become greedy or underestimating the signals those influencers have already have.
For example, if they said to book profits then we should book profit and should not wait further in order to make more profit, and I made such mistakes few times and faced a lot of loss. I learn this lesson now but still sometimes I make the same mistakes.
I suggest to those who are new, to book profit whenever they have the opportunity, but sometimes booking profit quickly in the fear of losing all also a become a big mistake, so we have to keep balance in them using knowledge.
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You are right, we should not become greedy over more or little money both. Because in your scenario you became greedy while you made $500 profit with $1000 only which in the first place is insane, and the human nature is already very greedy, because if you become greedy with the thought to make $500 more to make it $2000 then even after achieving this target. Your nature, our nature, will make us to trade more with the target of $500 more and this never stops until we make regretful choices.
Besides this, we also be called as greedy if we book profit which was not that much, like we make $100 profit which for me is a good profit, but considering the state of the market, if it can make me $1000 profit while I am booking it at $100 then it also called as greed. Because I greed for $100 while I should have known that I can make $1000 profit, if I would have done the analysis right way.
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...//,,,, like we make $100 profit which for me is a good profit, but considering the state of the market, if it can make me $1000 profit while I am booking it at $100 then it also called as greed. Because I greed for $100 while I should have known that I can make $1000 profit, if I would have done the analysis right way.
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).
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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.
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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.
We have to consider how many trades did you take to profit 300%, this is the way to determine if you just made it with luck or skill. If you only trade with just 3 to 5 trades and made 300% you're probably relying on luck but if you have taken 10 or more trades to get 300% this means that your trading plan is working.
The way you trade on a demo account vs a live account is different because there is no emotion involved in demo account that's why you can execute well in the market unlike with live account which really affects your execution.
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Have been human nature with greedy exactly their trading position earn much profitable, but I have bad experienced with greedy make me loss all much profitable with altcoin holding. Must take the already profitable earn or if believing with coin get potential raise more higher price take profit around 50% of assets and left amount hold it.
Actually I won't make the same mistake any more after many coins losses much profitable with greedy and not take profit as soon possible when getting chance.
Get limitation amount for taking profit in trading or investing, if some one get greedy will blame for taking profit until their disappointed one day later after price returning down.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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
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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.
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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.
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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.
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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.
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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.
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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.
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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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.
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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.
What do you mean exactly by blowing accounts? does digifinex block accounts when you trade too much using demo accounts? or by blowing you mean you lost your money. ?
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.
I totally agree with you on this. we don't just master to control our emotions by using demo accounts. but we also learn about trading too. charts, price analysis and everything
PS: i didnt' use Digifinex but I did youse PrimexBT which also give demo funds for trading. you should tray that too man..
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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.
They are aware that greed will destroy them, but they cannot control themselves so when they are aware of greed but cannot control it, greed will still control them. Only when everything has happened do they realize that they have been controlled by greed.
I wouldn't say I have complete self-control, but I always remember that every time I do something I can't fall into the same hole or regret the same thing.
That's an effective way for me, when I can't be like other people, then I have to find another way but the goal is the same.
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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.
I'm not sure if a real trader that knows what he or she is doing will lose money because of a greed. I mean if after learning about the technical, the fundamental and the management risk and greed befall on you during trading, then you didn't learn anything in my opinion. Only a person that buy and hold a coin will be affected by this because they are the ones that are mostly not determinant of where to sell only for them to lose everything.
A trader makes a calculative move before they open a trade and when they do, they also have a price where the want to take profits, even if they don't take all of it, they do take some part of it and move their stop-loss above where it was set up from beginning, that's what a real trader does. Stop-loss is very vital, it save you from such kind of losses especially in a volatile market.
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~ 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.
You're right
If we already get $ 100-500, I think we should decide take profit.
Don't be greedy.
Trading is how about to manage our emotion.
I agree with you no guarantee that we will get higher profits.
And we know market is always movement, go up and down every time.
Keep focus.
I like what you said. Always look at what the trading is and always think about the profit. For example, if I am placing a trade, I should decide in advance which time should I will exit. I will finish on the spot that would be my strategy should always be that where I will buy this trade and where I will sell and how much profit I will get after selling and how useful it will be for me in future.
If I think for example that I will stay with this trade when it gives me profit of 100 dollars which will enough until today or tomorrow, for two days, then I will end my trade, in this condition of trade I will safe from greed which is very bad thing for trading.
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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.
Yea, greed can actually cause a trader their already earned profit. It is seriously affects traders a lot. If I have not had the experience, I will not know how it feels. Imagine that you bought a coin @ $1 and you were praying that the coin should just get to $5 but hopefully the coin got to $6 and instead of you to sell, you decided to hold and hope again it could reach $10. Lol, while waiting for $10, you just see the coin drops to $4 and before you could say, "jack", it has drop again to $2. That's when you will not begine to blame your self why you never sold when the price for to $6.
What do you mean exactly by blowing accounts? does digifinex block accounts when you trade too much using demo accounts? or by blowing you mean you lost your money. ?
I totally agree with you on this. we don't just master to control our emotions by using demo accounts. but we also learn about trading too. charts, price analysis and everything
PS: i didnt' use Digifinex but I did youse PrimexBT which also give demo funds for trading. you should tray that too man..
Yes you are right, what I mean by blowing my account is that, I totally lost all the start up capital.
The exchange I am using gives me more "easy to use features, " and am comfortable. I started using binance exchange when I got into crypto but when I started trading on features, i did not really understand it well on binance. I have also tried futur trading on another exchange but my asset got liquidated in way I could not explain. Even when I contacted the support of that exchange, they did not provide a good explanation. So, I am very conversant woth the exchange am using for futures trading.
I'm not sure if a real trader that knows what he or she is doing will lose money because of a greed.
Who is a real trader? Or are there fake traders? Well, if you actually mean to say that professional traders or experience traders doesn't have greed while trading, what you must know is that, those people you are referring as professional traders, were once newbies to trading and you can not really tell about the series of loses they went through before they finally learned and build some strategy that made them win the market. Not body was born perfect in trading.
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I like what you said. Always look at what the trading is and always think about the profit. For example, if I am placing a trade, I should decide in advance which time should I will exit. I will finish on the spot that would be my strategy should always be that where I will buy this trade and where I will sell and how much profit I will get after selling and how useful it will be for me in future.
If I think for example that I will stay with this trade when it gives me profit of 100 dollars which will enough until today or tomorrow, for two days, then I will end my trade, in this condition of trade I will safe from greed which is very bad thing for trading.
I agree with you. It is important to have a clear strategy before you start trading. Your strategy should include your goals, the risks you are willing to take, and your entry and exit points.
In this case, you set a goal to earn $100 in profit every day. This is a realistic goal and can be done when you already have a lot of capital because profits depend on the amount of money used for trading. You should also pay attention to the time limits for your trades, because this will help you avoid being greedy and making bad decisions.
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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.
The existence of investors entering memecoin only triggers new traders who don't fully understand cryptocurrency to enter and trap them at high prices because I'm sure investors have bought memecoin when the price was still cheap, and currently many of them are trying to invite traders to enter memecoin by creating hype, and when it is felt that it is enough to make a profit, the investor will sell and leave to withdraw the profit that has been obtained from memecoin.
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Greediness is what makes some people to loose beyond they would have afford not to, immediately they realized the other times they have missed out little amount as income only because they were not being patient enough to hold longer than to sell, this will then triggers them of thinking about that same experience of being the same as with others while trading, but by then, they would have make losses than what they thought could have earned them more profit all because they were being greedy.
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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.
They are aware that greed will destroy them, but they cannot control themselves so when they are aware of greed but cannot control it, greed will still control them. Only when everything has happened do they realize that they have been controlled by greed.
I wouldn't say I have complete self-control, but I always remember that every time I do something I can't fall into the same hole or regret the same thing.
That's an effective way for me, when I can't be like other people, then I have to find another way but the goal is the same.
- That's where the difference in controlling greed comes into play. We know that if it is not controlled, many people will be negatively affected, first of all, ourselves, our family, and other acquaintances who are close to us.
That's why there are other gamblers who gamble responsibly, but there is no greed applied to what they do because it doesn't affect any life they have; instead, they still fulfill their responsibility correctly for their family and others.
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Greediness is what makes some people to loose beyond they would have afford not to, immediately they realized the other times they have missed out little amount as income only because they were not being patient enough to hold longer than to sell, this will then triggers them of thinking about that same experience of being the same as with others while trading, but by then, they would have make losses than what they thought could have earned them more profit all because they were being greedy.
Greediness is real normally but it could be mistaken for emotions sometimes, Loss could be a significant view to profit sometime but it depends on the timing. If someone is govern by emotions he might opt out of an unripe trade with loss even if he had made profit from that trade before running into loss, that particular trade could later come back with a huge pump surpassing the previous profit , its just the timing .
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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.
Crypto is full of noobs, and the story keeps repeating itself.
They are greedy when the price goes up and assume it will continue to rise
When the price goes down, they panic and sell at a loss. Classic
The crypto world has made many people have a better life, but not a few are broke
And those who are greedy are always easy targets for scammers :(
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Greediness is real normally but it could be mistaken for emotions sometimes, Loss could be a significant view to profit sometime but it depends on the timing. If someone is govern by emotions he might opt out of an unripe trade with loss even if he had made profit from that trade before running into loss, that particular trade could later come back with a huge pump surpassing the previous profit , its just the timing .
It seems that it has become basic human nature and sometimes when they have made a lot of profit, they forget that they have to withdraw the profit immediately because cryptocurrency price movements are not easy to predict, so when the price is expensive and they have made a profit, they should sell it immediately before regretting not selling it. high prices like when Bitcoin prices were between 2018 - 2019.
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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.
They are aware that greed will destroy them, but they cannot control themselves so when they are aware of greed but cannot control it, greed will still control them. Only when everything has happened do they realize that they have been controlled by greed.
I wouldn't say I have complete self-control, but I always remember that every time I do something I can't fall into the same hole or regret the same thing.
That's an effective way for me, when I can't be like other people, then I have to find another way but the goal is the same.
- That is a big pain problem for other traders when they do trading here in the crypto space. What should not be done is even more tempting to do, perhaps because this is what they want to be greedy for.
That's why it's hard to trade when you know that you have greed in your personality, and it's even harder to be an opponent of ourselves. So the ending is always that, in the end, there is no profit going home because of behavior like this.
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greedy without good experience will make us lose. Because greedy is make the people want to gain big profit but lack knowledge of accurate prediction. If we want hold for several time and hope it will more increase, but actually go down, You will lose.
If we predict accurately, price goes up. We will gain profit. But it's rarely happens.
I think greedy is bad emotions.
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greedy without good experience will make us lose. Because greedy is make the people want to gain big profit but lack knowledge of accurate prediction. If we want hold for several time and hope it will more increase, but actually go down, You will lose.
If we predict accurately, price goes up. We will gain profit. But it's rarely happens.
I think greedy is bad emotions.
I agree with what you say; therefore, it is better when trading to always take sufficient profits first. After that, you can allow 40% of the capital you use to remain in the coin so that when the price rises, it will still provide You make a profit without being afraid of something bad happening, but it seems that currently many coins' prices are rising due to the influence of the halving that will occur in the next few days.
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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).
The thing with Demo account is that, no matter how much you try to treat it as your main asset, you can't. It simply does not hold the emotions that you will have with actual assets. That's the reason it is important to use actual money to learn trading. The small amount that you can afford to lose. That should be enough to push your emotions to stay in check. You won't be having the thoughts of making $1000 to $1500 in a day with actual money. Slow, small but in the end, the profits are the only thing that matters.
Don't get me wrong because profit and loss are part of the trading process but our goal is making profits without making a huge loss. So keeping that as a priority, we should take it slow until we master it. For that reason using the main account is the best way to do so.
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It seems that it has become basic human nature and sometimes when they have made a lot of profit, they forget that they have to withdraw the profit immediately because cryptocurrency price movements are not easy to predict, so when the price is expensive and they have made a profit, they should sell it immediately before regretting not selling it. high prices like when Bitcoin prices were between 2018 - 2019.
It can still be uncertain as it still might hit a new target in 2021 a new ath was reached but before the ATH there were many points which acted as resistance to the market , it's hard to predict though but it takes a seconds to make a wrong decision and that's y Bitcoin is still a long term investment opportunity till today you can actually predicts is price movement but you can target a point of withdrawal
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The thing with Demo account is that, no matter how much you try to treat it as your main asset, you can't. It simply does not hold the emotions that you will have with actual assets. That's the reason it is important to use actual money to learn trading. The small amount that you can afford to lose. That should be enough to push your emotions to stay in check. You won't be having the thoughts of making $1000 to $1500 in a day with actual money. Slow, small but in the end, the profits are the only thing that matters.
Agreed. I never want to start with a demo account.
If we want to make money trading, we should start with real money.
Real emotions when experiencing losses or profits are crucial for a trader to know his ability to control emotions amidst market movements that tend to fluctuate.
Because emotional factors have an impact on a trader's success.
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The thing with Demo account is that, no matter how much you try to treat it as your main asset, you can't. It simply does not hold the emotions that you will have with actual assets. That's the reason it is important to use actual money to learn trading. The small amount that you can afford to lose. That should be enough to push your emotions to stay in check. You won't be having the thoughts of making $1000 to $1500 in a day with actual money. Slow, small but in the end, the profits are the only thing that matters.
Agreed. I never want to start with a demo account.
If we want to make money trading, we should start with real money.
Real emotions when experiencing losses or profits are crucial for a trader to know his ability to control emotions amidst market movements that tend to fluctuate.
Because emotional factors have an impact on a trader's success.
Actually, with a demo account, you can try many things from trying strategies that you can use when trading and of course this demo account provides many advantages, one of which is that trading can be better and correct and not make wrong decisions, emotions do exist but you have to Be able to control your emotions and don't be easily influenced by the situation at the exchange.
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The thing with Demo account is that, no matter how much you try to treat it as your main asset, you can't. It simply does not hold the emotions that you will have with actual assets. That's the reason it is important to use actual money to learn trading. The small amount that you can afford to lose. That should be enough to push your emotions to stay in check. You won't be having the thoughts of making $1000 to $1500 in a day with actual money. Slow, small but in the end, the profits are the only thing that matters.
Agreed. I never want to start with a demo account.
If we want to make money trading, we should start with real money.
Real emotions when experiencing losses or profits are crucial for a trader to know his ability to control emotions amidst market movements that tend to fluctuate.
Because emotional factors have an impact on a trader's success.
Even I don't use a demo account in trading, so it's good if we do a trading activity that we have an idea of here; we can't just be willing to take a risk here.
We must know here so that we know what a trader will do on every exchange platform that we enter to make a profit. And it's also not right to consider trading as gambling to get lucky, whereas trading is not like that. When you really have deep knowledge of trading, you will get a profit for sure.
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The most important thing is how traders can make maximum use of TP in their trading. When traders have analyzed and have determined the point where they can take profit, then traders no longer need to wait, just take the profit. Because it is much better than waiting until the profit decreases and traders lose profits just because they think that they can wait a little longer to take profit, but the market can change in a matter of seconds so that will make traders lose the moment to take maximum profit .
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The most important thing is how traders can make maximum use of TP in their trading. When traders have analyzed and have determined the point where they can take profit, then traders no longer need to wait, just take the profit. Because it is much better than waiting until the profit decreases and traders lose profits just because they think that they can wait a little longer to take profit, but the market can change in a matter of seconds so that will make traders lose the moment to take maximum profit .
Yeah as trader we should have target, set our sell target . when reachable sell your coins. Don't be greedy. It's bad emotional and will make us lost alot . Many traders had lost because this problem. We should have good experience to manage emotions.
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~CUT~
Actually, with a demo account, you can try many things from trying strategies that you can use when trading and of course this demo account provides many advantages, one of which is that trading can be better and correct and not make wrong decisions, emotions do exist but you have to Be able to control your emotions and don't be easily influenced by the situation at the exchange.
I was just about to say this. A demo account has its own perks but when it comes to learning, a demo account should not be your first choice. But if you are doing well after learning how to trade, you can use a demo account to your advantage. Just as you have mentioned, trying out a new strategy. If you are unsure about a strategy whether will work or not, you can choose to try it out in a demo account to find out all the errors. Then by solving those mistakes, you can create a good strategy.
This is very important because it is risk-free and also the ecosystem is evolving every day. For that reason, sticking to a single strategy will not take you far. Creating a new strategy or mixing up the existing strategy to make a new one will help you to keep up with the evolving market.
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Yeah as trader we should have target, set our sell target . when reachable sell your coins. Don't be greedy. It's bad emotional and will make us lost alot . Many traders had lost because this problem. We should have good experience to manage emotions.
Greed sometimes destroys everything, sometimes when you wait even longer to go up, but when there is bad news, the price collapses instantly and leaves you stuck at a high price. But it doesn't feel like this will happen when you hold assets in the form of Bitcoin; Bitcoin price movements will always go up, which does not become a problem when you hold Bitcoin longer to gain more profits.
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Believe or not, greedy loss your opportunity, many trader had large expectation with their cryptocurrency assets potential raise more higher price and earn much profitable. Forget take profit when has moment and seems not enough with how much increasing of the cryptocurrency assets holding, need to make limitation profitable target when price raise above 10% or more is enough to sell it and buy back later.
I believe some coins still with hype moment when success raise to higher price not has second chance make new highest price, take profit, leave and looking for the other coins to trade.
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Believe or not, greedy loss your opportunity, many trader had large expectation with their cryptocurrency assets potential raise more higher price and earn much profitable. Forget take profit when has moment and seems not enough with how much increasing of the cryptocurrency assets holding, need to make limitation profitable target when price raise above 10% or more is enough to sell it and buy back later.
I believe some coins still with hype moment when success raise to higher price not has second chance make new highest price, take profit, leave and looking for the other coins to trade.
Yeah I have lost several time because greedy. I agree with you, we should set the sell target if already earned profit, take it and leave it. We can start again later. Many traders have lost because this emotion. Trader needs good emotional control, and time will teach us. Experience is so expensive, sometimes we lost to know our mistakes
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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).
The thing with Demo account is that, no matter how much you try to treat it as your main asset, you can't. It simply does not hold the emotions that you will have with actual assets. That's the reason it is important to use actual money to learn trading. The small amount that you can afford to lose. That should be enough to push your emotions to stay in check. You won't be having the thoughts of making $1000 to $1500 in a day with actual money. Slow, small but in the end, the profits are the only thing that matters.
Don't get me wrong because profit and loss are part of the trading process but our goal is making profits without making a huge loss. So keeping that as a priority, we should take it slow until we master it. For that reason using the main account is the best way to do so.
One of the main issues that you would really be able to experience when you do make demo is that there's no way that you could really be able to assume that those amounts or capital is real.
Your mind cant just do such thing and even if you do pretend then there's no way that you could really be able to make it the same. Your mind would be telling you that it is really just that a fake amount or money that could be used.Therefore, you would really be having that kind of confidence and wont really be that doing well with your trades since you do know that you cant lose something and this is why you wont really be doing your very best when it comes to the trades that you are doing just because you do know that there's no risks involved.
As for taking profits then it should really be just that standard or in default but since human beings are greedy then these mistakes were common.
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One of the main issues that you would really be able to experience when you do make demo is that there's no way that you could really be able to assume that those amounts or capital is real.
Your mind cant just do such thing and even if you do pretend then there's no way that you could really be able to make it the same. Your mind would be telling you that it is really just that a fake amount or money that could be used.Therefore, you would really be having that kind of confidence and wont really be that doing well with your trades since you do know that you cant lose something and this is why you wont really be doing your very best when it comes to the trades that you are doing just because you do know that there's no risks involved.
As for taking profits then it should really be just that standard or in default but since human beings are greedy then these mistakes were common.
Exactly, but it is not necessary that Demo accounts are for no use. There are many different useful usage for demo accounts. For example, you can try your new strategies on a demo account. It could be something you came up with on your own or some new strategy that you have come across and you want to know how affective it is.
Except for this, I don't see much useful use of a Demo account. As I mentioned, there are other useful ways you can use it but this is the most effective one. But learning to trade using a demo account is never a good choice.
If you want to learn it, use real money to feel the real emotions and act on them accordingly. When it has no risks involved, it will not being out the true feelings at all.
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Actually, with a demo account, you can try many things from trying strategies that you can use when trading and of course this demo account provides many advantages, one of which is that trading can be better and correct and not make wrong decisions, emotions do exist but you have to Be able to control your emotions and don't be easily influenced by the situation at the exchange.
Yes, what is actually practice on the Demo amount, is exactly what the trader will practice in the real trade. While still on demo, if a trader can not learn to control their emotions, how to set stop loss and take profit and how to make a wise financial management decision while alocating money for their entry position, they will always face those issues in real trade too. If you perform well in demo, you have a high chance to perform well in real trade too because you are just dealing with same market volatility and asset liquidation.
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I have learned in trading that one must establish his stop loss and his take profit, which means that this is something controlled, in the case that we want to risk a little more, then we are going to set a good stop loss by moving it 'some the market moves, and that could translate into cutting the losses, if we see that the stop loss has already been touched, but prolonging the profits, or rpoffit so that we can generate more money, and that is the most common way that I could find to This is true in the excahnges that do not allow the two links to be placed at the same time, that is why I say it.
Well, when we set goals, and we achieve them, well, we have done well, it is something that we should be proud of, but the fact of wanting more and getting a large amount to commit more and leverage ourselves strongly is something that I will never recommend, However, I call that greed and it is something that would not make anyone in the world.
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- It's really hard when greediness takes control of ourselves; it's hard to avoid it immediately when it enters our minds. So we must have discipline and control over ourselves. So that we can limit our gambling when it comes to the amount of money we will use in the casino.
Also, as gamblers, we should have a goal target of how much money we should win, and once that is enough, as long as it is not too big, we should stop immediately and come back again another day.
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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.
- Once greed enters our minds, we are sure that self-control and self-discipline will not be able to do that in the actual trade in any exchange, whether we use CEX or DEX. Greed controls an individual here in crypto trading.
But if we don't let it enter our thoughts, he is just outside or around us. And when we do this, we will dominate the correct control of ourselves and the discipline that we should apply in conducting trading activity here in the crypto space.
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When I first learned to trade, I never used a demo account (or maybe I forgot). But I think it's a good idea to use a demo account to learn trading. Because we can first get used to market volatility. And while slowly building a mentality in making decisions in trading. because in genuine trading mentality is needed in making decisions at the beginning and at the end. For example, when I was still starting out in trading, I was sometimes too afraid to place my entry position on an altcoin that was currently in hype. Or sometimes I have placed a position and the trade is already running and at that time I already have multiple profits, so that's when my mentality is tested again. I still remember that at that time an event for an altcoin project would actually take place in the next two days. But prices have increased a lot. And at that time I was in a position to have multiple profits. And that's when my mentality was tested whether I would follow my plan which was to leave on the same day the event started or if I had to leave right then and there when I had already made multiple profits. At that time I finally decided to take profit and close the market. Because mentally I couldn't stand to continue waiting for the next two days. And after one day passed it turned out that the price was very high and I was tempted to enter again using only the profits from yesterday's trade. And yes, at that time I was in a greedy position and actually I had managed to get a profit back of around 20% but I was greedy and didn't want to take advantage. And at that time I closed the market without making Stoploss+. And at night I opened the market and it turned out that my trading position had become minus 20 or 30%. Since then I began to understand that greed will only lead to loss. Meanwhile, controlling emotions can give us maximum benefits. But from that experience I learned a lot and rarely make mistakes again. But sometimes I still have losses and that is normal. Because sometimes greed can come when we forget the experiences we have had before.
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But if we don't let it enter our thoughts, he is just outside or around us. And when we do this, we will dominate the correct control of ourselves and the discipline that we should apply in conducting trading activity here in the crypto space.
Some people will just have to learn in the hard way before they will realize that trading is not for them. Do you know that it is possible that you are not greedy but when loss will come it will not be easy at all. Assuming you have $500 for trading and you are making $5 daily. It could come to 5th day or a day that losses will come. The whole $50 gained may all be lost. This will start from your trade not able to make up to $5 before the losses started. Trading is complicated than what OP said. Sometimes it is just better to hold than to trade.
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But if we don't let it enter our thoughts, he is just outside or around us. And when we do this, we will dominate the correct control of ourselves and the discipline that we should apply in conducting trading activity here in the crypto space.
Some people will just have to learn in the hard way before they will realize that trading is not for them. Do you know that it is possible that you are not greedy but when loss will come it will not be easy at all. Assuming you have $500 for trading and you are making $5 daily. It could come to 5th day or a day that losses will come. The whole $50 gained may all be lost. This will start from your trade not able to make up to $5 before the losses started. Trading is complicated than what OP said. Sometimes it is just better to hold than to trade.
That is why we must be able to apply risk management in every trade we make, lest we lose a large amount of money beyond our limits.
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.
Indeed, it can also make us lose, because the price may reverse after the stop loss we put is touched. But this is for the sake of minimizing losses.
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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.
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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.
People try to make trading look very easy, which it is not. Those that say that they are making profit from trading are only few, while majority of traders run at loss. Those influencers and people giving trading signal might have not made a good profit from trading. It is when you enter the market, that you will know that the theory of trading is not the same with the market, because the market is always unpredictable, and a little mistake can ruin everything, and you will run at great loss.
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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.
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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.
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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.
There are really moments on which greed is something that you could really be able to take advantage with on which not all would really be that totally be talking about its negative effect but well when it comes into overall kind of approach on things then this kind of behavior would really be most likely put you up into big trouble and this is why it isnt really shocking that
you would really be needing up to adjust that kind of behavior and not really that make yourself too much getting involved and secure profits as much as you could.
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~Snip~
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.
Here though you have suffered by demo trading but I think you have gained proper understanding of trading by demo trading. You've learned that being overly greedy on a trading platform means putting yourself at risk. So every trader should not be too greedy in trading platform, those who are too greedy in trading platform are the ones who have suffered the most in life. Therefore, the trading platform must first learn to control the greed. Those who can control the greed of the trading platform can gain success from the trading platform.
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I would say it depends on the amount we are talking about to be fair. If you are trading with 1000, and make it 1500, then maybe you could stop but I could understand not stopping neither, 500 dollars is not an amount that would mean anything to anyone, sure its good to have, I would be insanely happy if I had that much now, but that doesn't mean that you are going to end up with that much profit in the end, its not that clear. So when you get to do that, I would guess that it could maybe make sense for you to have some sort of different income possibilities. On the other hand, if you turn 1 million into 1.5 million, you should obviously stop lol.
- Apart from what you said, there should also be a percentage of how much profit he wants to get, or a trader should have the right amount of profit target so that once he achieves this, he can pull out his profit in these situations.
It's hard to not have such a plan because this is where greediness comes in. After all, we don't know how much profit we want. Although what you say is also correct, mate, honestly speaking,
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It's hard to not have such a plan because this is where greediness comes in. After all, we don't know how much profit we want. Although what you say is also correct, mate, honestly speaking,
You should know about how much profit you want because you are the one making and the one who has the strategy.
From the beginning of the investment, you have calculated how much profit will be obtained when touching the target price to be achieved.
Greed enters because you see profits beyond what we planned, here you will think to continue without taking these profits and hoping for greater profits.
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It's hard to not have such a plan because this is where greediness comes in. After all, we don't know how much profit we want. Although what you say is also correct, mate, honestly speaking,
You should know about how much profit you want because you are the one making and the one who has the strategy.
From the beginning of the investment, you have calculated how much profit will be obtained when touching the target price to be achieved.
Greed enters because you see profits beyond what we planned, here you will think to continue without taking these profits and hoping for greater profits.
Greedy people honestly want to get 100% profit or more than that compared to those who have knowledge in trading for them 10% to 25% of profit is enough that is only what I usually see in the community they have their own trading rules set.
I think it's ok to be greedy but you just make sure that you set some rules you need to learn to set rules like 2% to 6% trading rules you shouldn't lose more than the rules you set and anytime you can manually sell once you already gain a target or more than target profit. However, if it fails you shouldn't lose more than 2% to 6%.
So that even if you are greedy and fail to make a good profit you still prevent yourself from losing too much but you lose the opportunity to make a profit.
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Greedy people honestly want to get 100% profit or more than that compared to those who have knowledge in trading for them 10% to 25% of profit is enough that is only what I usually see in the community they have their own trading rules set.
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.
I think it's ok to be greedy but you just make sure that you set some rules you need to learn to set rules like 2% to 6% trading rules you shouldn't lose more than the rules you set and anytime you can manually sell once you already gain a target or more than target profit. However, if it fails you shouldn't lose more than 2% to 6%.
So that even if you are greedy and fail to make a good profit you still prevent yourself from losing too much but you lose the opportunity to make a profit.
Being greedy for those who already understand how trading works will certainly provide advantages.
They will reach a price with profits exceeding 100%, it can even be 200% or more, but as the rules you said,
they cannot lose 2% to 6% of profits, or in other words can set Stop Loss and Take Profit features on trades.
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.
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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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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
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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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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.
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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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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.
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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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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.
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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.
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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.
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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.
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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.
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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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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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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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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.
Having a target profit in trading is important, but a trader cannot have such a plan. In addition to this, it is also important that we do not lose control of our emotions because when this happens, it is for sure that instead of gaining profit, we will lose because of this matter.
because it helps a lot when we have proper control of our emotions we can't be without emotions when we do actual trades on a crypto exchange in this field.
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There is something that we should take advantage of, because our wealth can be affected when we don't do it and that is precisely the greed, when we are Greedy we can't do much, look for every profit or something we have because if we don't know how to take advantage of it because we want more and more, and sometimes this can't affect the things we do, it's not just about winning and withdrawing money than Winning and keep investing everything in trading or in the casino, because that's something we're not confident with things, and that's what we have to do change it , we Cannot be inventing doing things like this, because we simply stop Making money.
And when we stop earning money, it is because we are doing very bad things, we must do so that our money flows and we can do everything better, find the best way of doing things so that the money tries to multiply.
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Having a target profit in trading is important, but a trader cannot have such a plan. In addition to this, it is also important that we do not lose control of our emotions because when this happens, it is for sure that instead of gaining profit, we will lose because of this matter.
because it helps a lot when we have proper control of our emotions we can't be without emotions when we do actual trades on a crypto exchange in this field.
Emotional management is important for investors, both trading and holding. What often requires skills in managing emotions is trading, because it is done every day. Because we can lose big if we use emotions when trading.
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Many of us will not want to go by this in taking the profit and leave after a successful trading experience, instead, we will want to do more and continue so that we can have more money to earn at the process, but things doesn't really work like that in reality, we have to deal with the greed in us in other not to accumulate on losses or eventually being to loose the earnings we have made already on the previous successful trades.
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Emotional management is important for investors, both trading and holding. What often requires skills in managing emotions is trading, because it is done every day. Because we can lose big if we use emotions when trading.
Yes management of emotions is very important to be successful in trading and investment and those who decide according to their greed and other emotions instead of using their learned lesson then they will see huge loss in future.
Investment needs patience but I think in trading there is no opportunity to think with patience and everyone has to work according to market situations and have to decide as soon as possible whereas in investment if you see price goes down then the best option is to hold it more to avoid losses.
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Many of us will not want to go by this in taking the profit and leave after a successful trading experience, instead, we will want to do more and continue so that we can have more money to earn at the process, but things doesn't really work like that in reality, we have to deal with the greed in us in other not to accumulate on losses or eventually being to loose the earnings we have made already on the previous successful trades.
Even though in Cryptocurrency everything is possible and profits can be obtained quickly, I don't think anyone will want to quit cryptocurrency when they see the success that is finally achieved with several experiences that require a lot of capital. The experience that has been gained has good potential to become a Professional traders will make you richer.
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At this point, being greedy is what keeps the market going right now. People are not only stopped selling, but they are actually buying even more as well. I feel like that has to be something quite important, its really the best way to go. I realize that it takes some time, but we should probably consider the situation to be quite well off, and that should be the best way to keep it going. If we all just took profit and left, who would carry the price. I think the best way to move forward would be just not realizing what we do and that has to be just keep on buying more and more for bigger profit and be greedy.
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At this point, being greedy is what keeps the market going right now. People are not only stopped selling, but they are actually buying even more as well. I feel like that has to be something quite important, its really the best way to go. I realize that it takes some time, but we should probably consider the situation to be quite well off, and that should be the best way to keep it going. If we all just took profit and left, who would carry the price. I think the best way to move forward would be just not realizing what we do and that has to be just keep on buying more and more for bigger profit and be greedy.
I think I agree with your opinion, greed is what keeps the crypto market running. The desire to buy and the desire to make a profit by selling. but we must not overdo it and must be based on accurate analysis.
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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.
Remember this golden rules, greed is not good when trading. It's very tempting to HODL your crypto investment when price is soaring, when hoping to make more profit. Always remember steady win and slow volatility.
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There are known lines and sayings that could be read up online about investing.
"You wont be rich if you wont TP"
"You wont be rich if you cant hold"
These sayings are totally contradictory to each other and this is why it would really be that so hard on what you should gonna follow.
This is why it would really be just that depending on how well you would really be able to make up decisions which it would really be basing
up on the things that you do need to know.
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Remember this golden rules, greed is not good when trading. It's very tempting to HODL your crypto investment when price is soaring, when hoping to make more profit. Always remember steady win and slow volatility.
Greed will always bother people who think more rationally. because it's a bad emotion. advises us to always set a sell target when holding HOLD, because when the target is reached and we feel satisfied with the profits we have achieved, let it go. We can retry corrections when they are corrected.
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Remember this golden rules, greed is not good when trading. It's very tempting to HODL your crypto investment when price is soaring, when hoping to make more profit. Always remember steady win and slow volatility.
Greed will always bother people who think more rationally. because it's a bad emotion. advises us to always set a sell target when holding HOLD, because when the target is reached and we feel satisfied with the profits we have achieved, let it go. We can retry corrections when they are corrected.
As humans, we will definitely have the trait of greed, because it is a trait that is ingrained in us. We must try to get rid of this trait by controlling ourselves as best as possible.
One way that we can control ourselves is by continuing to increase our knowledge and learn from experience. At first I also tended to follow greed, but I was slowly able to control it as my knowledge and experience increased. I'm sure it works fine.
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As humans, we will definitely have the trait of greed, because it is a trait that is ingrained in us. We must try to get rid of this trait by controlling ourselves as best as possible.
One way that we can control ourselves is by continuing to increase our knowledge and learn from experience. At first I also tended to follow greed, but I was slowly able to control it as my knowledge and experience increased. I'm sure it works fine.
You are right that with experience we can control bad emotions such as greed. Greed will make us irrational in analyzing the market so that we can experience losses. suggests we should learn from the mistakes of being greedy in the past
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This is very common with trading that the moment the traders are seeing profits coming in, they always never want to go out of the market because it sweets when one is making profits and to withdraw from such is not what most wanted, but we also often forget that the more we stay the more the risk for things to change around and we begin to loose till we realized we have gone too far on losses, its advised that once we make little profits, we should leave and plan for the other time, but greed and love for money will not allow us.
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Emotional management is important for investors, both trading and holding. What often requires skills in managing emotions is trading, Because we can lose big if we use emotions when trading.
Emotional management or trading psychology will be the determining factor whether there will be profits made or not.
A professional won't even always have such emotional stability that they can't maximize their profits.
For beginners, they tend to panic too much when prices continue to fall, let alone knowing about FUD that starts to appear,
then many will make stupid sales so that they make unwanted losses.
Trading requires technical analysis, fundamentals and emotional control or psychology, it is absolutely necessary.
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Having a target profit in trading is important, but a trader cannot have such a plan. In addition to this, it is also important that we do not lose control of our emotions because when this happens, it is for sure that instead of gaining profit, we will lose because of this matter.
because it helps a lot when we have proper control of our emotions we can't be without emotions when we do actual trades on a crypto exchange in this field.
It is a must to have a target for taking profits. It is impossible for someone to invest without a target. However, the target for taking profits won't guarantee anything. It the holder has no strong mentality, he/she can sell the coin before it reaches the target. That's why it is important to have good mentality as a holder or an investor as well.
Controlling emotion will be easy if we have knowledge and experience. We must ensure that we invest in crypto after we have sufficient knowledge and know the experience of successful people. This surely helps a lot for our investment.
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As humans, we will definitely have the trait of greed, because it is a trait that is ingrained in us. We must try to get rid of this trait by controlling ourselves as best as possible.
One way that we can control ourselves is by continuing to increase our knowledge and learn from experience. At first I also tended to follow greed, but I was slowly able to control it as my knowledge and experience increased. I'm sure it works fine.
You are right that with experience we can control bad emotions such as greed. Greed will make us irrational in analyzing the market so that we can experience losses. suggests we should learn from the mistakes of being greedy in the past
Yes, if greed controls us, then all we will think about is profit and profit, so we no longer care about how much risk we will take in the future.
You are right it makes us unable to think rationally because we are no longer in proper control. Therefore, we have to be good at balancing everything by controlling ourselves so that we continue to think as we should, that way we can keep the risk as small as possible.
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What if I am not greedy, but have set a plan when I would sell? For example I have bought Bitcoin when the price was $10k. $70k is a solid price to sell. I would have even sold it at $50k. x5 is more than enough. But what if I dont need $, want to keep Bitcoin or my plan (even if it is ridiculous) is to sell it $1kk ? Should I change my plan and sell then? Of course no. In my situation, I would sell it whenever I feel I want to sell.
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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.
- Yes, you are correct; one should not be greedy as a trader. We must be wise traders, and it is good for you if you are already training yourself to conduct trading in this field of the crypto space. Even we know that it is not easy to study and learn about crypto trading.
So it's really good that we know something about trading because it will help us a lot so that we can get a profit in the end while we study and practice on the actual platform of the exchange that we do trading on.
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- Yes, you are correct; one should not be greedy as a trader. We must be wise traders, and it is good for you if you are already training yourself to conduct trading in this field of the crypto space. Even we know that it is not easy to study and learn about crypto trading.
So it's really good that we know something about trading because it will help us a lot so that we can get a profit in the end while we study and practice on the actual platform of the exchange that we do trading on.
Trading is a process that needs to be learned properly, and while learning, the trader must develop some self-strategy that can help them win in the market. Any trader that fails to establish a proper trading strategy will experience more losses than profits. One thing about trading is that some people can easily get emotional if they don't plan themselves very well and become very disciplined. From my experience, it is very important to set a price target at which you can just cut the trade and take your already-earned profit. Anyone who fails to set a price to take profit might just get confused when the price becomes volatile in their predicted direction.
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- Yes, you are correct; one should not be greedy as a trader. We must be wise traders, and it is good for you if you are already training yourself to conduct trading in this field of the crypto space. Even we know that it is not easy to study and learn about crypto trading.
So it's really good that we know something about trading because it will help us a lot so that we can get a profit in the end while we study and practice on the actual platform of the exchange that we do trading on.
Trading is a process that needs to be learned properly, and while learning, the trader must develop some self-strategy that can help them win in the market. Any trader that fails to establish a proper trading strategy will experience more losses than profits. One thing about trading is that some people can easily get emotional if they don't plan themselves very well and become very disciplined. From my experience, it is very important to set a price target at which you can just cut the trade and take your already-earned profit. Anyone who fails to set a price to take profit might just get confused when the price becomes volatile in their predicted direction.
You would really be able to make those kind of realizations along the way on which on the time that you would really be able to realize that it is really that something that you must do for you to be able to sustain yourself into this market. Trading skills is never been that an easy thing to be acquired on which it would really be involving tons of efforts and tons of money for you to spend up first before you could really be able to have a good grasps into it on which it would really be just that normal that you would really be having that kind of approach.
Taking profits? Its always been the standard but it cant be really avoided to hold up someones position if they do know that the thing they've been holding does have a potential.
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What if I am not greedy, but have set a plan when I would sell? For example I have bought Bitcoin when the price was $10k. $70k is a solid price to sell. I would have even sold it at $50k. x5 is more than enough. But what if I dont need $, want to keep Bitcoin or my plan (even if it is ridiculous) is to sell it $1kk ? Should I change my plan and sell then? Of course no. In my situation, I would sell it whenever I feel I want to sell.
Sure. The target to take profits will totally depend on the individual. $70k is very good price to sell the Bitcoin if you bough under $20k in 2022. You already get very satisfying profits at $70k. But because it is very possible to reach $100k, it is okay if you want to continue holding the Bitcoin. You can change the plan if it is necessary, but it depends on the situation. But if it is not urgent, you can continue keep holding until $100k.
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The trader habit when price pumping is not taking profit but show of their profitable or PNL earned, I don't know what happen with them and keep hold after increasing up with their coins holding and earn much profitable.
I think most of trader lack enough with how much profitable earn and want to get more although their profit increasing more than 10% or 30% of their capital.
I learned how much loss with greedy and won't to make the same mistake better earn few percent profitable with consistency than have to be long term holding but not much profitable earn.
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The trader habit when price pumping is not taking profit but show of their profitable or PNL earned, I don't know what happen with them and keep hold after increasing up with their coins holding and earn much profitable.
I think most of trader lack enough with how much profitable earn and want to get more although their profit increasing more than 10% or 30% of their capital.
I learned how much loss with greedy and won't to make the same mistake better earn few percent profitable with consistency than have to be long term holding but not much profitable earn.
Sometimes, these holders are influenced by various predictions about the possibility of very high prices. And I became one of them. In 2021, there were many predictions regarding Bitcoin's ATH price that it would reach $100k at that time. But that really cannot be justified. Because in fact we were made very confused by the very rapid drastic decline at that time. So what happens is that we are very late in taking profits, and even more regretful because we can't take profits in the end.
And finally, you have to go through a long period of holding. Therefore, this is a great lesson for us. Money management is very important. Risk management is also very important. and having self-confidence and also a reasonable target in investing is very necessary. So that we can be on track in choosing what the target is and how to take profit system. So that whatever the ATH and its decline, we are all ready for it.
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And finally, you have to go through a long period of holding. Therefore, this is a great lesson for us. Money management is very important. Risk management is also very important. and having self-confidence and also a reasonable target in investing is very necessary. So that we can be on track in choosing what the target is and how to take profit system. So that whatever the ATH and its decline, we are all ready for it.
The entry price target will be quite necessary so as not to wait too long to make a profit.
The ATH price target of $100k-$200k may still be a reasonable target right now, but if it exceeds that target or even millions of dollars, it is beyond expectations and too much.
People who target at unreasonable prices just want to hold on for life without profit being taken.
It is a greedy trait that will weigh on the investment and result in nothing but just waiting and continuing to wait.
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And finally, you have to go through a long period of holding. Therefore, this is a great lesson for us. Money management is very important. Risk management is also very important. and having self-confidence and also a reasonable target in investing is very necessary. So that we can be on track in choosing what the target is and how to take profit system. So that whatever the ATH and its decline, we are all ready for it.
The entry price target will be quite necessary so as not to wait too long to make a profit.
The ATH price target of $100k-$200k may still be a reasonable target right now, but if it exceeds that target or even millions of dollars, it is beyond expectations and too much.
People who target at unreasonable prices just want to hold on for life without profit being taken.
It is a greedy trait that will weigh on the investment and result in nothing but just waiting and continuing to wait.
This is a classic problem that investors always face, greed will make us lose the opportunity to make a profit. Don't expect more than the target that has been achieved previously, if you feel you have achieved it, just go
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This is a classic problem that investors always face, greed will make us lose the opportunity to make a profit. Don't expect more than the target that has been achieved previously, if you feel you have achieved it, just go
If it has been achieved then take profit, do not procrastinate for any reason.
That's better than continuing to hold but it will only go down eventually.
This will cause panic and of course the strategy will not work well.
Not being disciplined in the strategy made will lead to new problems and change all the planing made.
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This is a classic problem that investors always face, greed will make us lose the opportunity to make a profit. Don't expect more than the target that has been achieved previously, if you feel you have achieved it, just go
I've targeted where I'll take some or all of the profits.
If it is indeed achieved faster, then what is done is to follow the strategy that has been made.
With the benefits obtained, we can double the investment owned.
Buy when the price of Crypto has already dropped or experienced some fairly deep corrections.
Do not be influenced by FOMO that results in buying at too high a price.
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This is a classic problem that investors always face, greed will make us lose the opportunity to make a profit. Don't expect more than the target that has been achieved previously, if you feel you have achieved it, just go
I've targeted where I'll take some or all of the profits.
If it is indeed achieved faster, then what is done is to follow the strategy that has been made.
With the benefits obtained, we can double the investment owned.
Buy when the price of Crypto has already dropped or experienced some fairly deep corrections.
Do not be influenced by FOMO that results in buying at too high a price.
Buying during FOMO is a big risk we take, we should avoid it. We really have to be able to see the market realistically and with a clear mind. I agree with you, buy when the crypto price really goes down and experiences a fairly deep correction, then we hold to wait for the price to rise so we can get a very big profit. if I prefer to be detained for the long term.
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What if I am not greedy, but have set a plan when I would sell? For example I have bought Bitcoin when the price was $10k. $70k is a solid price to sell. I would have even sold it at $50k. x5 is more than enough. But what if I dont need $, want to keep Bitcoin or my plan (even if it is ridiculous) is to sell it $1kk ? Should I change my plan and sell then? Of course no. In my situation, I would sell it whenever I feel I want to sell.
The essence of investing is to make a profit, to achieve that goal we need a well-designed strategy.
And before we buy any coin, The taking profit strategy should be fully outlined.
So we will never go into a trade or investment blind.
Because no one can accurately time tops or bottoms.
But Your Money, Your Rules...
And if you don't implement that strategy consistently, that's your choice.
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What if I am not greedy, but have set a plan when I would sell? For example I have bought Bitcoin when the price was $10k. $70k is a solid price to sell. I would have even sold it at $50k. x5 is more than enough. But what if I dont need $, want to keep Bitcoin or my plan (even if it is ridiculous) is to sell it $1kk ? Should I change my plan and sell then? Of course no. In my situation, I would sell it whenever I feel I want to sell.
The essence of investing is to make a profit, to achieve that goal we need a well-designed strategy.
And before we buy any coin, The taking profit strategy should be fully outlined.
So we will never go into a trade or investment blind.
Because no one can accurately time tops or bottoms.
But Your Money, Your Rules...
And if you don't implement that strategy consistently, that's your choice.
That is very true, in fact there are many people who are dedicated to looking for altcouis that are of low value and calculate that they can earn when they make a big bang, and they are ones that are found in respectable exchanges such as Binance, Kucoin, and they can invest a lot money there, of course they can always earn and when bitcoin rises a lot and this drives other coins, because trust in crypto increases, therefore it is the decision of each person to know what they are going to put money into for their investment, I would to say clearly that whoever puts money in Bitcoin will have a great profit in the long term, but my advice is, bitcoin can go down in price, stay the same or even go up, but when will it go up to the next ATH? It is speculated that for this year and 2025, that is why it is recommended to buy as much bitcoin as possible.
Of course now we are already surpassing the last ATH, this is a new price, I think it is $72k, but it is presumed that it could just be an impulse for what can grow.
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This is a classic problem that investors always face, greed will make us lose the opportunity to make a profit. Don't expect more than the target that has been achieved previously, if you feel you have achieved it, just go
Some people have fixed their target but when they see other people that they are still holding then they forget about their target and follow the other fellows but it become risky for him because this is a behaviour of greed which eventually ends with loss.
It is better to not leave your earned money just because of greed because we don't know that what will be the worth in future. May be we see huge dump due to which we will regret to not take our profit on time therefore always focus on your target instead of believing others or if you are not satisfy with your earning then it is necessary to target large value from the start.
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Some people have fixed their target but when they see other people that they are still holding then they forget about their target and follow the other fellows but it become risky for him because this is a behaviour of greed which eventually ends with loss.
It is better to not leave your earned money just because of greed because we don't know that what will be the worth in future. May be we see huge dump due to which we will regret to not take our profit on time therefore always focus on your target instead of believing others or if you are not satisfy with your earning then it is necessary to target large value from the start.
Yes right and that has become basic human nature which seems difficult to leave behind, the economic conditions of each human being will always be different so when what you have done has made a profit then it's best to be able to withdraw the profit, because if you see other people who haven't sold yet then there is a possibility that they don't need money so they keep holding assets in the form of Cryptocurrency for the long term.
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Some people have fixed their target but when they see other people that they are still holding then they forget about their target and follow the other fellows but it become risky for him because this is a behaviour of greed which eventually ends with loss.
I personally won't see how other people invest or trade, I will focus on my target. If we often see how other people invest/trade, we may follow them sometimes. It is not good if we don't have own target and only follow other people. We don't know whether the people can success or not. It is better to focus on our target and take profits if it reaches the target.
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Buying during FOMO is a big risk we take, we should avoid it. We really have to be able to see the market realistically and with a clear mind. I agree with you, buy when the crypto price really goes down and experiences a fairly deep correction, then we hold to wait for the price to rise so we can get a very big profit. if I prefer to be detained for the long term.
Sometimes when the price has really gone down, and it's time to buy, they doubt whether it's a good price to start coming in or if there will still be another drop.
Actually this can be seen from technical analysis so that it can be determined whether it has touched the bottom support or not.
Doing analysis is very important before deciding to enter or exit, and money management will help how much funds are used to buy so that there is a reserve fund when prices continue to fall.
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Buying during FOMO is a big risk we take, we should avoid it. We really have to be able to see the market realistically and with a clear mind. I agree with you, buy when the crypto price really goes down and experiences a fairly deep correction, then we hold to wait for the price to rise so we can get a very big profit. if I prefer to be detained for the long term.
Sometimes when the price has really gone down, and it's time to buy, they doubt whether it's a good price to start coming in or if there will still be another drop.
Actually this can be seen from technical analysis so that it can be determined whether it has touched the bottom support or not.
Doing analysis is very important before deciding to enter or exit, and money management will help how much funds are used to buy so that there is a reserve fund when prices continue to fall.
Well, this is the problem, when they expect a decline to buy, they don't buy and want an even deeper decline. Even though we don't fully know at what price it will be the lowest price, and at times like this we have to make decisions.
Therefore, the DCA method is one of the best ways to slowly make purchases. We can buy again when the market goes down again and so on. The reason is, as I said, that we will not really know the deepest point of prices.
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Some people have fixed their target but when they see other people that they are still holding then they forget about their target and follow the other fellows but it become risky for him because this is a behaviour of greed which eventually ends with loss.
It is better to not leave your earned money just because of greed because we don't know that what will be the worth in future. May be we see huge dump due to which we will regret to not take our profit on time therefore always focus on your target instead of believing others or if you are not satisfy with your earning then it is necessary to target large value from the start.
Yes right and that has become basic human nature which seems difficult to leave behind, the economic conditions of each human being will always be different so when what you have done has made a profit then it's best to be able to withdraw the profit, because if you see other people who haven't sold yet then there is a possibility that they don't need money so they keep holding assets in the form of Cryptocurrency for the long term.
If someone not a big investor then I must say learn to enjoy your profits. When a trader can make profit then he can get better idea about trading. There are some traders who get excessive greedy from their trading. If the value of an asset increases several times, the value of that asset will definitely decrease. But there are some ignorant traders who emotionally want to hold their assets until they reach a certain level. But after a few days it was seen that the trader has faced huge losses. The value of their accumulated assets has further declined. When a trader does not take the profit despite making a profit, he is on the one hand losing financially and on the other hand he is lagging behind in acquiring knowledge related to trading.
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Well, this is the problem, when they expect a decline to buy, they don't buy and want an even deeper decline. Even though we don't fully know at what price it will be the lowest price, and at times like this we have to make decisions.
Therefore, the DCA method is one of the best ways to slowly make purchases. We can buy again when the market goes down again and so on. The reason is, as I said, that we will not really know the deepest point of prices.
That's right, the method you suggest can at least provide information on what price is the right position to enter and buy cryptocurrency even though there is no guarantee that the movement is very accurate.
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Yes in cryptocurrency market who will be greedy he will loss from here. Cryptocurrency market is always unpredictable here loss and profit both are exist. So when anyone will be profited then they Should not get greedy just take profit and leave.
I think it is best policy in cryptocurrency market. When will profit then leav.
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Well, this is the problem, when they expect a decline to buy, they don't buy and want an even deeper decline. Even though we don't fully know at what price it will be the lowest price, and at times like this we have to make decisions.
Therefore, the DCA method is one of the best ways to slowly make purchases. We can buy again when the market goes down again and so on. The reason is, as I said, that we will not really know the deepest point of prices.
That's right, the method you suggest can at least provide information on what price is the right position to enter and buy cryptocurrency even though there is no guarantee that the movement is very accurate.
Yes, because in my opinion no one can predict accurately and even in several people's analysis the results will be different, so it proves that it is impossible for us to analyze the market with certainty, especially if it determines the price point.
So the strategy I said before really helps us in making several entries, even though we can't enter at the lowest price, but at least we get the best price we can buy at that time.
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Yes in cryptocurrency market who will be greedy he will loss from here. Cryptocurrency market is always unpredictable here loss and profit both are exist. So when anyone will be profited then they Should not get greedy just take profit and leave.
I think it is best policy in cryptocurrency market. When will profit then leav.
Sometimes when he has made a lot of profit from cryptocurrency, he just takes a screenshot and shows off on social media that he has so that he forgets to sell or releases it at a high price and after that the price collapses, making it too late to sell at a high price and the only regret he has is get it.
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Sometimes when he has made a lot of profit from cryptocurrency, he just takes a screenshot and shows off on social media that he has so that he forgets to sell or releases it at a high price and after that the price collapses, making it too late to sell at a high price and the only regret he has is get it.
It is stupid to show up the profits on the social media. What for?
It only makes the bad people to think of stealing your money. When we upload it on the social media, there are too many people around the world to see it. I think it is a careless attitude, we mustn't do it.
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Sometimes when he has made a lot of profit from cryptocurrency, he just takes a screenshot and shows off on social media that he has so that he forgets to sell or releases it at a high price and after that the price collapses, making it too late to sell at a high price and the only regret he has is get it.
It is stupid to show up the profits on the social media. What for?
It only makes the bad people to think of stealing your money. When we upload it on the social media, there are too many people around the world to see it. I think it is a careless attitude, we mustn't do it.
Actually, I often see people who do things like that. When you join a cryptocurrency group that has hundreds of thousands of members, you will definitely see people like that. Indeed, people like that are not good to imitate and often cannot take advantage of the situation well. Trading with any results and remaining silent is a very wise person.
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Sometimes when he has made a lot of profit from cryptocurrency, he just takes a screenshot and shows off on social media that he has so that he forgets to sell or releases it at a high price and after that the price collapses, making it too late to sell at a high price and the only regret he has is get it.
It is stupid to show up the profits on the social media. What for?
It only makes the bad people to think of stealing your money. When we upload it on the social media, there are too many people around the world to see it. I think it is a careless attitude, we mustn't do it.
There is no need to show off our profits on social media, just experience the same way, maybe we can achieve bigger profits than luring thieves to commit crimes against us. The best people are those who are silent and can keep the secrets of their lives.
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There is no need to show off our profits on social media, just experience the same way, maybe we can achieve bigger profits than luring thieves to commit crimes against us. The best people are those who are silent and can keep the secrets of their lives.
Yes, we should enjoy it ourselves without showing it off on social media, because if we show it off on social media, what benefits will we get? I don't think there is any benefit we can gain by doing that.
Exactly as you said, maybe I will invite irresponsible people who will harm us. Yes, we can be their target to take something that we have and that could end up endangering ourselves. So it's better to keep quiet and enjoy it yourself.
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There is no need to show off our profits on social media, just experience the same way, maybe we can achieve bigger profits than luring thieves to commit crimes against us. The best people are those who are silent and can keep the secrets of their lives.
Yes, we should enjoy it ourselves without showing it off on social media, because if we show it off on social media, what benefits will we get? I don't think there is any benefit we can gain by doing that.
Exactly as you said, maybe I will invite irresponsible people who will harm us. Yes, we can be their target to take something that we have and that could end up endangering ourselves. So it's better to keep quiet and enjoy it yourself.
I agree with you because not showing off our benefits to other people can make them jealous and can also invite crime. Because we know that in the crypto world there are many hackers. I stayed quiet and focused on investing rather than just showing off. There is no benefit in being a show-off. Readers who see the profits will be interested in becoming new investors and trying to invest, some of them will blame us if they lose. This is also the bad side of showing off.
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I agree with you because not showing off our benefits to other people can make them jealous and can also invite crime. Because we know that in the crypto world there are many hackers. I stayed quiet and focused on investing rather than just showing off. There is no benefit in being a show-off. Readers who see the profits will be interested in becoming new investors and trying to invest, some of them will blame us if they lose. This is also the bad side of showing off.
But it will be different when you become an influencer, showing off that million-dollar portfolio will be very profitable and grow followers.
But security is very vulnerable because it will be a target for criminal acts because of these many assets.
But if you only focus on investing and not being an influencer, your privacy is number one without having to show off anything.
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I agree with you because not showing off our benefits to other people can make them jealous and can also invite crime. Because we know that in the crypto world there are many hackers. I stayed quiet and focused on investing rather than just showing off. There is no benefit in being a show-off. Readers who see the profits will be interested in becoming new investors and trying to invest, some of them will blame us if they lose. This is also the bad side of showing off.
I agree it is important to be careful about how we talk about our successes especially in cryptocurrency world where there lot of risks. If we showoff our gains it can make others feel jealous and also attract bad people like hackers and criminals. It is better to stay humble and concentrate on our investments instead of bragging about how much money we have made. If we do not showoff we can avoid problems like others blaming us if they lose money. At end it is best to keep our successes private and focus on making good choices with our investments.
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I agree with you because not showing off our benefits to other people can make them jealous and can also invite crime. Because we know that in the crypto world there are many hackers. I stayed quiet and focused on investing rather than just showing off. There is no benefit in being a show-off. Readers who see the profits will be interested in becoming new investors and trying to invest, some of them will blame us if they lose. This is also the bad side of showing off.
I agree it is important to be careful about how we talk about our successes especially in cryptocurrency world where there lot of risks. If we showoff our gains it can make others feel jealous and also attract bad people like hackers and criminals. It is better to stay humble and concentrate on our investments instead of bragging about how much money we have made. If we do not showoff we can avoid problems like others blaming us if they lose money. At end it is best to keep our successes private and focus on making good choices with our investments.
Always focus on our investments and don't need to show off, it's better to be a humble person and not provoke criminals to chase our assets. The world of investment has lots of hackers and scammers, so there is no need to reveal the amount of our assets on social media or show the profits we have achieved.
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I agree with you because not showing off our benefits to other people can make them jealous and can also invite crime. Because we know that in the crypto world there are many hackers. I stayed quiet and focused on investing rather than just showing off. There is no benefit in being a show-off. Readers who see the profits will be interested in becoming new investors and trying to invest, some of them will blame us if they lose. This is also the bad side of showing off.
But it will be different when you become an influencer, showing off that million-dollar portfolio will be very profitable and grow followers.
But security is very vulnerable because it will be a target for criminal acts because of these many assets.
But if you only focus on investing and not being an influencer, your privacy is number one without having to show off anything.
Well I agree with you guys. At least if we are just ordinary investors and not influencers, influencers always create sensations to attract more followers for the sake of profit. But for those of us who are just ordinary traders or investors, maintaining privacy must be the thing we prioritize most. So if we have big profits and have big assets then it would be better if we don't tell anyone except people we really trust.
Being a crypto influencer is also quite dangerous actually. The problem is that there are many quite terrible cases that have happened to crypto influencers.
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I would like to discuss what of offered in the topic name. I am not greedy, but why should I be happy with little profit if it is “already earned”? Any kind of profit technically is “already earned”. How doe it sound to me - I have invested $10k for example, earned $200-300 and should leave? That is not the amount to earn I aim to get from crypto and investing. With $10k I can earn $200-300 in various and less risky deals. For me crypto investing is something that gives larger profit that others earning methods.
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Yes, we should enjoy it ourselves without showing it off on social media, because if we show it off on social media, what benefits will we get? I don't think there is any benefit we can gain by doing that.
Exactly as you said, maybe I will invite irresponsible people who will harm us. Yes, we can be their target to take something that we have and that could end up endangering ourselves. So it's better to keep quiet and enjoy it yourself.
I agree with you because not showing off our benefits to other people can make them jealous and can also invite crime. Because we know that in the crypto world there are many hackers. I stayed quiet and focused on investing rather than just showing off. There is no benefit in being a show-off. Readers who see the profits will be interested in becoming new investors and trying to invest, some of them will blame us if they lose. This is also the bad side of showing off.
Yes, I don't see any motivation for showing it off other than maybe it tends to be more arrogant. Unless there are people who ask us to show what we have for their motivation, I usually use my second wallet.
We don't know what other people think when they see the amount of money, whether big or small. So to minimize things we don't want, it's better to keep it to ourselves without showing it to other people, especially on social media.
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I would like to discuss what of offered in the topic name. I am not greedy, but why should I be happy with little profit if it is “already earned”? Any kind of profit technically is “already earned”. How doe it sound to me - I have invested $10k for example, earned $200-300 and should leave? That is not the amount to earn I aim to get from crypto and investing. With $10k I can earn $200-300 in various and less risky deals. For me crypto investing is something that gives larger profit that others earning methods.
If you invest $10K that is a large amount, and you can make profits easily. Moreover, in the current bull run condition and this is the time of correction, we can buy coins to hold, because it is possible that when the bitcoin halving occurs, the price of bitcoin and altcoins will rise again.
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From what I have experienced, almost all traders tend to do this mistake in trading, which have adequate many of them loose alot of money.
Not all lost in trading is as a result of greed, but most cases I have come across are because of greed, and wanting to gain more.
Doe the primary aim of trading is to make earns, and gains but just as you said, as a good trader one should have the ability to listen to your inner voice.
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Most people always get contradictions between fear and greed in trading, most of the time we fail to listen to our inner voice to place some trade because of fear of loosing, while at times people loose their money in trading because of greed, always not satisfied of their profits...
And as a good trader, you should be able to control greed in trading to avoid plenty of loss.
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I agree with you because not showing off our benefits to other people can make them jealous and can also invite crime. Because we know that in the crypto world there are many hackers. I stayed quiet and focused on investing rather than just showing off. There is no benefit in being a show-off. Readers who see the profits will be interested in becoming new investors and trying to invest, some of them will blame us if they lose. This is also the bad side of showing off.
I agree it is important to be careful about how we talk about our successes especially in cryptocurrency world where there lot of risks. If we showoff our gains it can make others feel jealous and also attract bad people like hackers and criminals. It is better to stay humble and concentrate on our investments instead of bragging about how much money we have made. If we do not showoff we can avoid problems like others blaming us if they lose money. At end it is best to keep our successes private and focus on making good choices with our investments.
In today`s reality where hackers are increasing in their numbers, it is so pivotal to exercise caution and discretion when discussing one’s successes generally and in trading specifically. Showing off gains can evoke jealousy, hatred and even unwanted attention from hackers and criminals. It is advisable to maintain a humble approach and focus on managing investments prudently rather than boasting about financial achievements.
By refraining from flaunting wealth, crypto traders can mitigate the risk of being targeted or blamed by others in case of financial losses as you mentioned. Ultimately, keeping successes private and prioritizing sound investment decisions is the most prudent course of action in the volatile realm of cryptocurrency.
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Most people always get contradictions between fear and greed in trading, most of the time we fail to listen to our inner voice to place some trade because of fear of loosing, while at times people loose their money in trading because of greed, always not satisfied of their profits...
And as a good trader, you should be able to control greed in trading to avoid plenty of loss.
If a trader lacks discipline, he or she will most likely fall to greed in trading. Being greedy in trading involves several elements, one of which is having a plan without backtesting it. If you did not back test the strategy, you cannot be confident that it will work. That is why you should avoid trading if you do not believe in your strategy, since you will end up losing money. If you do, your emotions will dictate over you.
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Being a crypto influencer is also quite dangerous actually. The problem is that there are many quite terrible cases that have happened to crypto influencers.
I have also heard many cases of influencers being targeted by crime, and it is indeed real.
As an influencer with a multimillion-dollar portfolio, of course, he must maintain his own security.
But many influencers don't reveal their real identities, they just wear masks and hide under pseudonyms on their social media accounts, it could be safer.
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Being a crypto influencer is also quite dangerous actually. The problem is that there are many quite terrible cases that have happened to crypto influencers.
I have also heard many cases of influencers being targeted by crime, and it is indeed real.
As an influencer with a multimillion-dollar portfolio, of course, he must maintain his own security.
But many influencers don't reveal their real identities, they just wear masks and hide under pseudonyms on their social media accounts, it could be safer.
Yes, I also listened, an influencer should not share a wallet containing large amounts of assets. only wallets with small amounts. Currently there is a lot of crime in the crypto world, both hackers and scammers. So we have to be careful. Because this can also happen to us if we are not careful
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Being a crypto influencer is also quite dangerous actually. The problem is that there are many quite terrible cases that have happened to crypto influencers.
I have also heard many cases of influencers being targeted by crime, and it is indeed real.
As an influencer with a multimillion-dollar portfolio, of course, he must maintain his own security.
But many influencers don't reveal their real identities, they just wear masks and hide under pseudonyms on their social media accounts, it could be safer.
Yes, I also listened, an influencer should not share a wallet containing large amounts of assets. only wallets with small amounts. Currently there is a lot of crime in the crypto world, both hackers and scammers. So we have to be careful. Because this can also happen to us if we are not careful
- Well, actually, I'm not too impressed with influencers who show their great balance in what they share; obviously, they are only after really gaining a lot of views. He hypes his viewers by showing a lot of money in his account, because this is also where he gets people to register or sign up to share anything.
So, I don't just believe unless I can see and feel that he is sincere in what he says in his vlogging. So don't believe it immediately if you don't want to regret it later.
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So, I don't just believe unless I can see and feel that he is sincere in what he says in his vlogging. So don't believe it immediately if you don't want to regret it later.
Yes, you have to protect yourself from influencers who will influence you with news that is not necessarily true.
I also don't recommend following what influencers suggest.
They are looking for many followers and the more followers the more they will benefit.
Do not immediately believe and do your own research, how also you need to do research from various points of view.
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So, I don't just believe unless I can see and feel that he is sincere in what he says in his vlogging. So don't believe it immediately if you don't want to regret it later.
Yes, you have to protect yourself from influencers who will influence you with news that is not necessarily true.
I also don't recommend following what influencers suggest.
They are looking for many followers and the more followers the more they will benefit.
Do not immediately believe and do your own research, how also you need to do research from various points of view.
We have to do our own research before investing because it is mandatory and don't trust influencers, they will definitely benefit from their followers. Because there is no free lunch. Most of them offer new projects, we should invest in old coins that are safer. The new policy is more profitable, but more profitable
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Most of them offer new projects, we should invest in old coins that are safer. The new policy is more profitable, but more profitable
Seeing how they offer a new project if it's a pretty good project, and you've done the analysis,
it never hurts to look further at how well the project is doing.
You don't have to invest in old coins that may be safer,
but old projects also have consequences if they continue to be developed.
As in the case of LUNA in the past, even though it was a fairly successful coin and entered the top 10 CMC, but in fact it became a scam project.
Be careful and alert to everything that will happen suddenly in crypto.
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Yes, you have to protect yourself from influencers who will influence you with news that is not necessarily true.
I also don't recommend following what influencers suggest.
They are looking for many followers and the more followers the more they will benefit.
Do not immediately believe and do your own research, how also you need to do research from various points of view.
After some time in the industry, a person understands the reality of people who try to sell certain tokens and promote specific cryptocurrencies and realizes that they aren't doing all this for the benefit of their followers or subscribers, but they are doing it because they are getting incentivized for that and they don't care whether you lose your money or not.
It takes some time for a newbie to learn all that though, even after reading posts such as we are discussing at right now, some newbies would still fall for such things when they hear about the potential returns those influencers say they can get.
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We have to do our own research before investing because it is mandatory and don't trust influencers, they will definitely benefit from their followers. Because there is no free lunch. Most of them offer new projects, we should invest in old coins that are safer. The new policy is more profitable, but more profitable
That's true, but as you know, not all influencers get profits easily, because I'm sure influencers who have more than 1 million followers will think again about providing information that is not true because it will only make their followers dislike them and there is a possibility that they will stop following them.
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After some time in the industry, a person understands the reality of people who try to sell certain tokens and promote specific cryptocurrencies and realizes that they aren't doing all this for the benefit of their followers or subscribers, but they are doing it because they are getting incentivized for that and they don't care whether you lose your money or not.
Influencer just makes benefits if they mention anything Elon musk just posted a meme with doge then the price of dogecoin suddenly skyrocketed.
I'm sure these influencers before they post anything related to a crypto project or coins are first going to buy a large amount of it and then they are going to promote.
It is acceptable as long as you complete DYOR before investing in the project or coins they are promoting and as long as you know how to exit.
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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.
As far as I know, trading is emotionally draining and it is very difficult for us to "take profit".
As much as possible, if we trade, it will definitely be very difficult to control our emotions because prices tend to rise and fall very quickly.
Your advice can be accepted and when we make a profit in trading 100 dollars in a day then "Take Profit" and the rest wait for the coins we will buy when they fall again in all markets.
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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.
As far as I know, trading is emotionally draining and it is very difficult for us to "take profit".
As much as possible, if we trade, it will definitely be very difficult to control our emotions because prices tend to rise and fall very quickly.
Your advice can be accepted and when we make a profit in trading 100 dollars in a day then "Take Profit" and the rest wait for the coins we will buy when they fall again in all markets.
You seem like a professional trader, because you know about emotional management. the most difficult thing when trading. We are faced with this when we take profit, we still have to wait for bigger profits, people say this is greedy. Or sell when you get the profit you want.
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You seem like a professional trader, because you know about emotional management. the most difficult thing when trading. We are faced with this when we take profit, we still have to wait for bigger profits, people say this is greedy. Or sell when you get the profit you want.
I'm also confused about what is said to be greedy in crypto, because basically we have a target to make a profit, at least we target a profit of at least 10% of the purchase price even if the capital is large, if the capital is small 50% of the profit only then can you feel the profit.
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You seem like a professional trader, because you know about emotional management. the most difficult thing when trading. We are faced with this when we take profit, we still have to wait for bigger profits, people say this is greedy. Or sell when you get the profit you want.
I'm also confused about what is said to be greedy in crypto, because basically we have a target to make a profit, at least we target a profit of at least 10% of the purchase price even if the capital is large, if the capital is small 50% of the profit only then can you feel the profit.
Capital is something that would really be that significant for you to feel out those profits on which of course it would really be that depending on how much you had placed on but dont make yourself that been thinking up on that way because it would really be making you to rush up on making such decisions specially if you would really be tending to add up your capital.
The best approach that you could have is on how you would really be that making yourself that having a progressive increase of your capital as you do move forward.
Having those gains would signifies that you are really that having that kind of positive or gains that you have.
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So, I don't just believe unless I can see and feel that he is sincere in what he says in his vlogging. So don't believe it immediately if you don't want to regret it later.
Yes, you have to protect yourself from influencers who will influence you with news that is not necessarily true.
I also don't recommend following what influencers suggest.
They are looking for many followers and the more followers the more they will benefit.
Do not immediately believe and do your own research, how also you need to do research from various points of view.
Yes, you are right because there are many influencers who take advantage of their followers for their own interests. That is what I often see with exploitative people in this cryptocurrency business field.
That's why there is nothing better than doing your own research, because it depends on whether the capital we will use will be wasted or if it will have a big profit in the future. Right?
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We have to do our own research before investing because it is mandatory and don't trust influencers, they will definitely benefit from their followers. Because there is no free lunch. Most of them offer new projects, we should invest in old coins that are safer. The new policy is more profitable, but more profitable
Research is most important thing which can enhance our choices towards better assets. Influencers are not always true and some of them are getting payments by spreading wrong information therefore who are newbies will easily trap in their planning.
Old is always beneficial so instead of following the Influencers we should choose old coins where there is less risk and high profit as well as we are not surprised about dip in old coins like bitcoin and ethereum as we know that they will go high rise again and our money will be saved.
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That's true because greedy persons tend to exert more profit than persons tend to hold while they know they are profitable than to lose nothing
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they don't care whether you lose your money or not.
It takes some time for a newbie to learn all that though, even after reading posts such as we are discussing at right now, some newbies would still fall for such things when they hear about the potential returns those influencers say they can get.
They will never care, because it is quite clear that they wrote and warned that what influencer was talking about was not investment advice or whatever his words were to say, that they did not want to be responsible for any loss that could occur.
It's just that many beginners don't read the warning and blindly follow the advice.
They are only interested in suggestions that look like they will give you a profit, but in fact it does not guarantee any profit.
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I'm also confused about what is said to be greedy in crypto, because basically we have a target to make a profit, at least we target a profit of at least 10% of the purchase price even if the capital is large, if the capital is small 50% of the profit only then can you feel the profit.
Likely limitation target profit raise above 10% is not greedy in trading and realistic with the percentage profit want to earn, difference position when earning profit more than 50% but keep hold could be greedy and want to earn much profitable raise up to 300% or 500%. Many trader loss much money in trading because can't control with their greedy emotion, after getting profit around 5% to 10% but not have ideas for taking profit and keep holding with their expecting will up to 100% but have to get fact with coins dropping and loss opportunity to earn 10% profitable.
I take profit with some coins when trading around 10% and seems enough for securing my capital not becoming long term holding.
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I'm also confused about what is said to be greedy in crypto, because basically we have a target to make a profit, at least we target a profit of at least 10% of the purchase price even if the capital is large, if the capital is small 50% of the profit only then can you feel the profit.
Likely limitation target profit raise above 10% is not greedy in trading and realistic with the percentage profit want to earn, difference position when earning profit more than 50% but keep hold could be greedy and want to earn much profitable raise up to 300% or 500%. Many trader loss much money in trading because can't control with their greedy emotion, after getting profit around 5% to 10% but not have ideas for taking profit and keep holding with their expecting will up to 100% but have to get fact with coins dropping and loss opportunity to earn 10% profitable.
I take profit with some coins when trading around 10% and seems enough for securing my capital not becoming long term holding.
Greed will make people lose, if you already have a target of 10%, you should immediately sell and take the profits. but if you target 50-100% it depends on the coins you have, if it's a new coin or a meme coin, if you buy at the beginning it's possible you can achieve your target. but do your analysis well.
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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.
TBH buddy, only 2-5% of traders can control their greed when it comes to trading and that's the reason many people encounter loss while less people make the gains. When you enter position and the trade is swinging your way, it's difficult to exit because you will be thinking your fund can easily double or triple your gains so why exit. Often times, the thing is kind of funny...here is my experience, the first time I used my money for futures trading on Bitget, I used $30 with a 20× leverage, the trade was smooth and I was seeing a profit of $22 within 10 minutes so I took profit with the fear that things might turn soar later but that particular trade would have given me over $100 had it been I stayed put so that scenario gave me a wrong impression then so my next trade after doing some research, I decided wait a little longer and I lost all my $30 because I didn't set stop loss. To cut the story short, controlling emotions in trading is most important than the TA but unfortunately, only a few individuals have been able to master that hence the reason i have opted for BOT trading which doesnt operate out of emotion and its been quite good.
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Greed will make people lose, if you already have a target of 10%, you should immediately sell and take the profits. but if you target 50-100% it depends on the coins you have, if it's a new coin or a meme coin, if you buy at the beginning it's possible you can achieve your target. but do your analysis well.
Greed will not allow us to take profits rationally, we will be faced with the dilemma of selling when prices are high, but emotions want more profit without clear analysis. the end result is that when the price drops, we will lose
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Greed will make people lose, if you already have a target of 10%, you should immediately sell and take the profits. but if you target 50-100% it depends on the coins you have, if it's a new coin or a meme coin, if you buy at the beginning it's possible you can achieve your target. but do your analysis well.
Greed will not allow us to take profits rationally, we will be faced with the dilemma of selling when prices are high, but emotions want more profit without clear analysis. the end result is that when the price drops, we will lose
What you say is absolutely true. Those who want to sell at higher prices do not get it and those who want to buy at lower prices they do not do that. But in this case I think only those who can keep their greed in control can survive in that position. Sell when the price rise and buy when the price go down. When a trader is affected by greed, they will begin to diverge.
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Greed will make people lose, if you already have a target of 10%, you should immediately sell and take the profits. but if you target 50-100% it depends on the coins you have, if it's a new coin or a meme coin, if you buy at the beginning it's possible you can achieve your target. but do your analysis well.
Greed will not allow us to take profits rationally, we will be faced with the dilemma of selling when prices are high, but emotions want more profit without clear analysis. the end result is that when the price drops, we will lose
What you say is absolutely true. Those who want to sell at higher prices do not get it and those who want to buy at lower prices they do not do that. But in this case I think only those who can keep their greed in control can survive in that position. Sell when the price rise and buy when the price go down. When a trader is affected by greed, they will begin to diverge.
This is because cryptocurrency price movements on exchanges cannot be predicted easily, all price movements can occur spontaneously. Except when there is good or bad news, it usually has an immediate impact on cryptocurrency prices. That is why when trading we must be able to control our emotions so that we are not easily influenced by any conditions that can harm us.
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- Even though greed is part of the problem, it is always present in our concerns. So the only thing we can really do is not allow it to enter our lives or anything we do. Like trading here in crypto, if you have income, don't expect more.
It's hard for us to regret it in the end, because once we make another profit from trading, even though we know we've made a profit but we haven't exited yet, that means greed has entered for sure; that's guaranteed. I hope we can overcome such scenarios in our lives.
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If it is not about greed, but why should I be happy to take little and now, when I can wait (hold) and get more? That is somehow a wrong vision of a situation. When we are at school, we dont do test do get C and that is enough, we do maximum of tasks and hope to get A+. Not everyone who hold or trade, do it for sake of greed, because it is never enough. What if there is goal, a final aim, and we just wait for that milestone to be achieved?
For example I have some of my BTC that I have purchased when their price was around 20k. I hold them not because I am greedy and 69k today is not enough for me. I just hold it because 1) I dont need that money right now 2) I set a plan to sell few at 100k.
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This is because cryptocurrency price movements on exchanges cannot be predicted easily, all price movements can occur spontaneously. Except when there is good or bad news, it usually has an immediate impact on cryptocurrency prices. That is why when trading we must be able to control our emotions so that we are not easily influenced by any conditions that can harm us.
That is the most important thing as a trader, you must be able to control your emotions. because many traders experience big losses due to bad emotions such as greedy and fear. And it will always be there when we invest. We must be able to manage our emotions