Altcoins Talks - Cryptocurrency Forum
Archive => Sorting Box => Topic started by: TROXIE on February 19, 2021, 07:59:56 AM
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I take time to study cryptocurrency trading and I discovered one of the major problems that leads to the downfall of many here is GREED. It's is always sweet to see your little token pumping and pumping especially during bull run, sometimes it meets your targeted amount and yet you refuse to sell or take the profit still wanting more,until the dump catches up with it and while you look, it goes down to loss. My Advice: Beware of GREED!
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From the little experience am having I agree with what you just said one of the things that kill people is greedy always know when to exit the market, always know when to sell your coin and take your profit. Lots of people are always after 5x-10x when they buy a coin and is not that easily you don't have to be greedy when trading.
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I am a trader, I always place orders to take profits, and sometimes raise my selling prices when I feel the wave is too big. The market is growing so fast that it frightens me rather than greed.
Anyway, the total profit in the trading market is less than 0, because part of the cost will flow into the accounts of the exchanges, I will always cherish my profits, not let them evaporate because of greed.
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Covetousness, greediness, selfishness all together is what many pack as baggages. The ability to control oneself is very important. If you are a trader or investor especially in this bullish season, self control is well needed.
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In fact cryptocurrency is a thing where greed will consume you. I have seen for myself that when the price of Bitcoin Etherium and Binance Coin goes up, we will not sell them, so it will go up further. Even a few days ago, the price of Bitcoin went around $60,000. Even then we held the bitcoin without selling it. Then the greed arose in my mind that the price will go up further. But today I saw that the price of Bitcoin, the price of Etherium and the price of Binance Coin have come down a lot. It is not clear whether there will be a recovery again. So I would say that it is not right to be too greedy for cryptocurrency. It is better to sell you anything.
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Greed is five letters but 100% dreadful once applied mistakenly either on Cryptos nor on Actual life. It will destroy the innocence and send the person into regretful moment. The good thing is, there is another chance to correct and change from greed to contentment imo.
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Greed is start from loss and become worst when we use money loan that's why stop loss must use with realistic target. Not easy way to avoid greedy but trust me discipline and patient will reduce the risk. Don't use bot because market always change and start open position when have analysis this is crypto market not for game. Most people get stress after loss but always reject their greedy, find the solution and take control fast before market take our money and never return it.
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Perhaps greed is the reason why new investors put money into tokens that are rising in price and not selling in time to take profits. They usually wait for the price to go higher for higher profits, but then the price usually falls and they receive less profit or even lose money. It's quite a pity for them in those situations.
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greed is our biggest enemy. sometimes greed obscures our eyes so much that we do not see the obvious things and there is a risk of losing everything. but do not despair, you need to learn to control it, greed is such a quality that drives us to earn more. you just need to learn how to control it
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I would say both greed and fear are a big enemy of every trader. And at the same time, they are also the trader's main motivations.
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Indeed.... Greed and FOMO will get you!
I've been guilty of both :)
With experience, comes wisdom
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It’s so exciting to watch it go up :o but being greedy really does account for a ton of losses in Forex trading…at first, I struggled with anxiety but once I started gaining I got greedy. It’s so important to find the right balance.
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It’s so exciting to watch it go up :o but being greedy really does account for a ton of losses in Forex trading…at first, I struggled with anxiety but once I started gaining I got greedy. It’s so important to find the right balance.
Practice makes perfect. Emotional trading system won't help rather would kill us to zero. Knowledge and practice takes time and minimal sacrifices. After all, to balance is necessary. More gain less lose.
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greed is what make us down if taken seriously, if we can't control greed we will be at a great loss. greed is the root of all evil.
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My profit so much minimized because of my greed. I always change TL when see the market is moving upper.
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greed is what make us down if taken seriously, if we can't control greed we will be at a great loss. greed is the root of all evil.
Actually, somehow greediness in crypto is not a problem specially if the uptrend is coming or on going. It is not wrong to aim more while the market is blooming. The problem is not on time to sell at the peak. After peak, correction may be the next to occur.
Greediness is not always wrong depends on our intentions.
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Yes you are right greed is the main problem in every thing and in this field due to your greed you lose your money like many people are kissing their money in trading and investment in greed of making a big amount but we have to show some patience to get something.