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

[Mr. Magkaisa]

         -   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.

[Mr. Magkaisa]

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.

[Uruhara]

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.

[Charles-Tim]

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.

[$crypto$]

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.

[Charles-Tim]

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.

[Sim_card]

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.

[ajiz138]

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.

[Carbitcoin]

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.

[milewilda]

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.

[Primo1760]

~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.

[Mr. Magkaisa]

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,

[taufik123]

-snip-
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.

[BitMaxz]

-snip-
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.

[taufik123]

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.