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

[Dr.Bitcoin_Strange]

In this regard I want to say that few months ago I saw a interview of a professional and successful trader where he said like this in the first time if you have only five percent of profit of your whole fund in a month it's means a lot, he also said that their mentor said that 5% profit in the first time in a month when you have doing trading that's means you are professional trader.

So our thinking about the trading we will make 100%,200% profit on trading should be change first then we should get jump for trading.

Yeah the main thing that’s making most traders to make majority of the mistakes they’re making in trading is their misconceptions and misleading assumptions about trading. Their view of a professional trader is someone that make millions in a single trade. And so whenever they hear a trader on social media or anywhere say that he makes thousands or millions every week in trading, they’ll fail to understand that these amounts were gathered from several trades, bit by bit until they were able to come up with that much, and this is a misconception that every novice trader or enthusiast should eradicate because that’s nothing but a fallacy and it could potentially lead them to severe losses.

[jeraldskie11]

I don't think greed is the one to be avoided in order to prevent liquidations of your port. Greed is cause by emotions and sometimes we just didn't notice that our trades are influenced by greed. So if we have that, we expect that our trades is not so effective and there's high chance we will lose that trade. I believe that the key to avoid liquidations of your port is the risk management. Always apply risk management to survive in the long run prevent those situation.

My response to that is No No No, greedy is a very big problem in trading, gambling or anything that involves wagering money, and it should be quickly addressed. It’s true that greed is an natural emotion that everybody feels but these natural emotions could spiral into something that turn out to be a problem for us if not tackled early and quickly.

I didn't say that greed is not a problem in trading. What I am trying to say is that even if you remove greed in your trades it's not a guarantee that you will become successful in trading because there is no strategy that works 90%. That's why it is very important to have the risk management in our trades because it is the key to success. It's a highly recommended to add it in our plan.

[Dr.Bitcoin_Strange]

I didn't say that greed is not a problem in trading. What I am trying to say is that even if you remove greed in your trades it's not a guarantee that you will become successful in trading because there is no strategy that works 90%. That's why it is very important to have the risk management in our trades because it is the key to success. It's a highly recommended to add it in our plan.

That’s true, there’s indeed no strategy that guarantees success or works perfectly, but then again, how can one have or develop a good risk management system if they do not get rid of greed? This is to show how important it is to make away with greed. I’ve come to understand that if a trader is able to get ride of greed then he’ll be able to handle every other situations efficiently and effectively, that includes developing a good risk management system and also setting realistic expectations and goals for themselves during their trading sessions.

[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.

       -      Digifinex? This exchange has been around for a long time, right? I think I've only used it once before. But anyway, as far as I know, there is still a big difference between demo and actual trade. Because I tried it before using the demo.

What I thought I understood well from the demo turned out to be the opposite when I made an actual trade on an exchange, of course from the beginning I always lost and the analysis I made before was always contrary. I just shared it, so it's still right that we should not be greedy in carrying out trading activities.

[Dr.Bitcoin_Strange]

       -      Digifinex? This exchange has been around for a long time, right? I think I've only used it once before. But anyway, as far as I know, there is still a big difference between demo and actual trade. Because I tried it before using the demo.

What I thought I understood well from the demo turned out to be the opposite when I made an actual trade on an exchange, of course from the beginning I always lost and the analysis I made before was always contrary. I just shared it, so it's still right that we should not be greedy in carrying out trading activities.

Whether real or demo, the most important thing when trading is not allowing your emotions like greed and fear to get into your head, because if you’re able to completely eradicate greed, then you’ll be able to make more informed decisions and choices as well as to employ a more effective risk management approach/system and also to critically evaluate and reassess every decision before implementing them on your trade, this way, you’ll be able to mitigate the risks of losses as much as you can also maximize profits in your trades.

[jeraldskie11]

I didn't say that greed is not a problem in trading. What I am trying to say is that even if you remove greed in your trades it's not a guarantee that you will become successful in trading because there is no strategy that works 90%. That's why it is very important to have the risk management in our trades because it is the key to success. It's a highly recommended to add it in our plan.

That’s true, there’s indeed no strategy that guarantees success or works perfectly, but then again, how can one have or develop a good risk management system if they do not get rid of greed? This is to show how important it is to make away with greed. I’ve come to understand that if a trader is able to get ride of greed then he’ll be able to handle every other situations efficiently and effectively, that includes developing a good risk management system and also setting realistic expectations and goals for themselves during their trading sessions.

Discipline is the key. We can't avoid greed comes in to our lives especially if we encounter loses, sometimes it comes up. So if you have discipline you can stick to your plan and won't do any action outside the plan. Also with risk management, you can't apply risk management if you don't have discipline especially when greed is with you. Discipline is very important aspect to have in trading, it's also a key to success.

[Dr.Bitcoin_Strange]

Discipline is the key. We can't avoid greed comes in to our lives especially if we encounter loses, sometimes it comes up. So if you have discipline you can stick to your plan and won't do any action outside the plan. Also with risk management, you can't apply risk management if you don't have discipline especially when greed is with you. Discipline is very important aspect to have in trading, it's also a key to success.

I don’t disagree with you that discipline is an important aspect of trading, not just trading but every other areas of life, because without discipline, one is bound to make several wrong choices that’ll definitely affect them tomorrow. But I don’t agree that greed cannot be avoided, yes it’s difficult to avoid being greedy, especially in the midst of losses, but that doesn’t mean that it’s impossible to avoid greed. Yes we can’t control when greed will set in because it’s an inevitable emotion that everyone feels but what we can control is allowing greed get into us and influence our decisions or making us deviate from our initial plans.

[UNIVERSE]

I didn't say that greed is not a problem in trading. What I am trying to say is that even if you remove greed in your trades it's not a guarantee that you will become successful in trading because there is no strategy that works 90%. That's why it is very important to have the risk management in our trades because it is the key to success. It's a highly recommended to add it in our plan.

Nothing can guarantee for the profits. Sure, there is no single strategy that will be effective for all market condition. That's why we need varied strategies to deal with the change of crypto market. Besides strategy, there are many other things that we must consider in crypto, including the risk management. Yes, we must have some plans, it will help us when we experience unexpected situation.

[Dr.Bitcoin_Strange]

Nothing can guarantee for the profits. Sure, there is no single strategy that will be effective for all market condition. That's why we need varied strategies to deal with the change of crypto market. Besides strategy, there are many other things that we must consider in crypto, including the risk management. Yes, we must have some plans, it will help us when we experience unexpected situation.

Having a good plan is one thing, and sticking to those plans at all time is another. Some traders tend to only see the effectiveness of their plans when they’re just in profit, and when they start experiencing some losses, they start having some sort of a change of attitude about the effectiveness of their plan. They forget that no plan or strategy can actually guarantee constant success and that losses are inevitably part of the market.

[milewilda]

Nothing can guarantee for the profits. Sure, there is no single strategy that will be effective for all market condition. That's why we need varied strategies to deal with the change of crypto market. Besides strategy, there are many other things that we must consider in crypto, including the risk management. Yes, we must have some plans, it will help us when we experience unexpected situation.

Having a good plan is one thing, and sticking to those plans at all time is another. Some traders tend to only see the effectiveness of their plans when they’re just in profit, and when they start experiencing some losses, they start having some sort of a change of attitude about the effectiveness of their plan. They forget that no plan or strategy can actually guarantee constant success and that losses are inevitably part of the market.

Aside on having a plan, you should also that set out some back up plans because not all the time our plans will really be that working and there would be tons of chances that it would really be that failing. Then you would really be having that huge problem at the time that you do have those analysis been not working and you will be having that kind of panic. Speaking about greed then this is something which is really that very normal for most traders on which there's no such thing about contentment when it comes money and this is something that you should really be that wary about such actions on what you are really that making.

[Vx1]

Nothing can guarantee for the profits. Sure, there is no single strategy that will be effective for all market condition. That's why we need varied strategies to deal with the change of crypto market. Besides strategy, there are many other things that we must consider in crypto, including the risk management. Yes, we must have some plans, it will help us when we experience unexpected situation.

Managing risk in trading is very important, as you said it will be very useful if we experience unexpected problems. However, this is usually only done by professional traders, not for traders who are still beginners. But actually this can be learned, and later applied if we want to be serious about trading.

[jeraldskie11]

I didn't say that greed is not a problem in trading. What I am trying to say is that even if you remove greed in your trades it's not a guarantee that you will become successful in trading because there is no strategy that works 90%. That's why it is very important to have the risk management in our trades because it is the key to success. It's a highly recommended to add it in our plan.

Nothing can guarantee for the profits. Sure, there is no single strategy that will be effective for all market condition. That's why we need varied strategies to deal with the change of crypto market. Besides strategy, there are many other things that we must consider in crypto, including the risk management. Yes, we must have some plans, it will help us when we experience unexpected situation.

There is no perfect strategy, but there is a strategy that really works for you. Just because a strategy works for others doesn't mean it will work for you. So it is very important to back test it so that you know if you will really make money with this strategy or not. Let's also try to back test other strategies so that we know what is best to you. This way we won't waste money because back test it first.

[Dr.Bitcoin_Strange]

Aside on having a plan, you should also that set out some back up plans because not all the time our plans will really be that working and there would be tons of chances that it would really be that failing. Then you would really be having that huge problem at the time that you do have those analysis been not working and you will be having that kind of panic. Speaking about greed then this is something which is really that very normal for most traders on which there's no such thing about contentment when it comes money and this is something that you should really be that wary about such actions on what you are really that making.

Definitely, having a back up plan is vey necessary, in fact it is one of the most important aspect of one’s plan. Just like you rightly said, it’s not like we are praying for emergencies or unforeseen circumstances to occur but these things are inevitable, and all we can do is prepare for them, even if we can’t completely make reservations to completely tackle them when they arise or when things take a negative turn, but at least we need to have a plan in place to salvage such situations when they arise.

[Crypto Library]

Yeah the main thing that’s making most traders to make majority of the mistakes they’re making in trading is their misconceptions and misleading assumptions about trading. Their view of a professional trader is someone that make millions in a single trade. And so whenever they hear a trader on social media or anywhere say that he makes thousands or millions every week in trading, they’ll fail to understand that these amounts were gathered from several trades, bit by bit until they were able to come up with that much, and this is a misconception that every novice trader or enthusiast should eradicate because that’s nothing but a fallacy and it could potentially lead them to severe losses.

Actually, it's our human nature that we all always love to hear the positive news and also we love to spread the positive sides of ours and that is why we most of the time saw peoples they we interested to investment just seeing that there many trader having thousands of profit they make their investment but they never know how many nights the trader spends for that and as well how their loss porfolio.

[Gurujebs]

I didn't say that greed is not a problem in trading. What I am trying to say is that even if you remove greed in your trades it's not a guarantee that you will become successful in trading because there is no strategy that works 90%. That's why it is very important to have the risk management in our trades because it is the key to success. It's a highly recommended to add it in our plan.

There is difference between risk taking and been greedy trader. If you are greedy in crypto trading, you will lose much more than you are going to make here, I have seen someone short sol and was profited, like heavily and instead of closing that position, he held the short until Solana rise back and hit all time high, he was liquidited and lose everything again.

Assuming he was able to control his greed and didn't let greed consume him, he would have take the profit and change the sentiment of the market from short to long, always remember that in trading, the trend is what gives you money and not what yiu think about the market.