Never Be Greedy!

[Mr. Magkaisa]

That's how it is when we trade crypto, the rapid price increase sometimes does not make us satisfied and then sells the coins.
But still hoping the price will continue to rise, but what happens? Our chance to make a profit is lost because the price is corrected.
This experience should be able to make us more mature, and eliminate greed in this crypto trading.

I use to tell people that profits is profit no matter the size of it. As long as you didn't make any loss in your trade, appreciate it and take the profit, don't feel ungrateful when you see the price going higher and higher, you would have been sad if the coin price go down and you couldn't get to take your profit, there is nothing bad in taking profit.

There is no way a trader will get the perfect time to take profit at all time high, only a person that is greedy will ever think of that and in that process, you might lose after everyone has taken their profits.

Yes, I think from your points, this trading idea to always take profits whenever there is price increase is called scalping, a method where a trader take advantage of a slight market price increase to sell or closed his/her positions. Scalping is a good idea especially when trading future options. It is a great trading options that helps to consistently take profit with very little price margin over times.
In addition, taking profit is necessary especially if a trader has little experience, or emotional when he sees a volatile market.

       -      That's why it's so important in trading to know how to control ourselves so that we can prevent greed from entering our minds in reality. Without discipline and self-control, it's very easy for greed to enter our minds for sure in the end.

This greed is actually the main tool that is our enemy because it is often the weakness of our traders if you are here in the crypto trading industry that we belong to.

[ajiz138]

Even when someone is greedy it will destroy themselves, I see a lot in life, although it has nothing to do with trading, but it can be a picture of how greed can destroy our lives.

Especially in trading which is very much related to a very volatile market. So it is better to have a profit plan from the start and even minimizing losses by setting a stop loss target is also recommended.

I have seen some trades where there was a provability of making high profit but later it turned out to be rather downward. Those who do not set stop loss in trading will rather lose. Sometimes, despite making a profit due to greed, there is a loss. Setting a stop loss is definitely important. It helps to keep a trader safe. Especially if someone is participate in future trade, it is pretty much mandatory to do that.

Maybe they regret when they apply stop loss then the price reverses when it touches it, then when they do not apply stop loss the loss will be even greater.

This requires in-depth analysis, where we apply the stop loss number and so on. And once again this is not something easy because it requires good observation and experience. However, if it is accompanied by greed, it will be even more dangerous.

[jeraldskie11]

Even when someone is greedy it will destroy themselves, I see a lot in life, although it has nothing to do with trading, but it can be a picture of how greed can destroy our lives.

Especially in trading which is very much related to a very volatile market. So it is better to have a profit plan from the start and even minimizing losses by setting a stop loss target is also recommended.

I have seen some trades where there was a provability of making high profit but later it turned out to be rather downward. Those who do not set stop loss in trading will rather lose. Sometimes, despite making a profit due to greed, there is a loss. Setting a stop loss is definitely important. It helps to keep a trader safe. Especially if someone is participate in future trade, it is pretty much mandatory to do that.

Maybe they regret when they apply stop loss then the price reverses when it touches it, then when they do not apply stop loss the loss will be even greater.

This requires in-depth analysis, where we apply the stop loss number and so on. And once again this is not something easy because it requires good observation and experience. However, if it is accompanied by greed, it will be even more dangerous.

There's nothing wrong in putting a stop-loss in every single trade. For me, it's a must and we can't compare it to a trader who didn't put a stop-loss because they are not profitable. Why could I say that? It's because putting a stop-loss also needs analysis, just like putting a take profit target, we also have to put an ideal stop-loss. Now, where to get the ideal stop-loss? You must determine the invalidation of your entry, that if ever the price go to that area you consider it failed trade or a sign that the market will go to the opposite direction. So if you find out the invalidity area, below that is your stop-loss if you're longing; and above that if you're shorting.

[JISAN]

Even when someone is greedy it will destroy themselves, I see a lot in life, although it has nothing to do with trading, but it can be a picture of how greed can destroy our lives.

Especially in trading which is very much related to a very volatile market. So it is better to have a profit plan from the start and even minimizing losses by setting a stop loss target is also recommended.

I have seen some trades where there was a provability of making high profit but later it turned out to be rather downward. Those who do not set stop loss in trading will rather lose. Sometimes, despite making a profit due to greed, there is a loss. Setting a stop loss is definitely important. It helps to keep a trader safe. Especially if someone is participate in future trade, it is pretty much mandatory to do that.

Maybe they regret when they apply stop loss then the price reverses when it touches it, then when they do not apply stop loss the loss will be even greater.

This requires in-depth analysis, where we apply the stop loss number and so on. And once again this is not something easy because it requires good observation and experience. However, if it is accompanied by greed, it will be even more dangerous.

There's nothing wrong in putting a stop-loss in every single trade. For me, it's a must and we can't compare it to a trader who didn't put a stop-loss because they are not profitable. Why could I say that? It's because putting a stop-loss also needs analysis, just like putting a take profit target, we also have to put an ideal stop-loss. Now, where to get the ideal stop-loss? You must determine the invalidation of your entry, that if ever the price go to that area you consider it failed trade or a sign that the market will go to the opposite direction. So if you find out the invalidity area, below that is your stop-loss if you're longing; and above that if you're shorting.

In case of spot trade or holding I don't think there is any need to set stop loss if that coin has potential for future and if you think that coin can do well in future then you need to hold that coin for long time so in this case it is logical to think about stop loss.  no  But stop loss option is very important if someone is doing future trading because if stop loss option is not used then there is a big fear of losing the entire fund.  Which can happen anytime because crypto is highly volatile so it is normal to see 20-50% pump/down of a coin at any time which can even zero 3-5x leveraged balance.

[Bobcrypto]

Greed impact trading negatively. Traders who are greedy often sell their goods or services above market price. Greedy traders often loose their customers, because customers once in a while compare the price of the goods and services they consume. In some cases a conversation between family and friends can reveal that they pay more for a certain good or service, this can get customers upset.

Greed in crypto trading as far as this discussions is concerned is different from the traditional trading with Fiats trading on commodities, glossaries, domestic goods etc. Based on the title, greedy traders on the crypto economy can earn profit or suffer losses.
 for example, if a greedy traders buys Bitcoin at certain price, he may choose to hold even when price increases, a greedy trader may keep holding with the thought that price will continue to rise, unfortunately, the price dump and he end up losing all his profits.
Greed has caused many traders to suffer losses especially the future and margin traders. Many of this traders over leverages their positions to an extent that when the market goes very volatile, many will be liquiditated on either long or short positions.

[milewilda]

Even when someone is greedy it will destroy themselves, I see a lot in life, although it has nothing to do with trading, but it can be a picture of how greed can destroy our lives.

Especially in trading which is very much related to a very volatile market. So it is better to have a profit plan from the start and even minimizing losses by setting a stop loss target is also recommended.

I have seen some trades where there was a provability of making high profit but later it turned out to be rather downward. Those who do not set stop loss in trading will rather lose. Sometimes, despite making a profit due to greed, there is a loss. Setting a stop loss is definitely important. It helps to keep a trader safe. Especially if someone is participate in future trade, it is pretty much mandatory to do that.

Maybe they regret when they apply stop loss then the price reverses when it touches it, then when they do not apply stop loss the loss will be even greater.

This requires in-depth analysis, where we apply the stop loss number and so on. And once again this is not something easy because it requires good observation and experience. However, if it is accompanied by greed, it will be even more dangerous.

And this what makes this market that truly unpredictable on which at the time or moment that you've seen yourself having those kind of hesitation into the positions that you had made just because of some previous experiences, then you wouldnt really be having doubts on every actions that you are taking. We do know that trying out to make profits with volatility isnt something easy and if you are really that risks taker then it will be that up to you on how you would be making out such actions because if you would be that hesitating then you would really be having that big problem or this will incur some loses. So you should be that sensible when it comes into the actions that you are making when dealing up with this volatile space.

[Hisbullah]

In case of spot trade or holding I don't think there is any need to set stop loss if that coin has potential for future and if you think that coin can do well in future then you need to hold that coin for long time so in this case it is logical to think about stop loss.  no  But stop loss option is very important if someone is doing future trading because if stop loss option is not used then there is a big fear of losing the entire fund.  Which can happen anytime because crypto is highly volatile so it is normal to see 20-50% pump/down of a coin at any time which can even zero 3-5x leveraged balance.

In futures trading, we should use stop loss so that we do not experience greater losses if we predict the price wrongly or make the wrong strategy. But in spot trading if we choose the top coins, we do not need a stop loss because when there is a decline we can hold it, and the possibility of the coin will rise again.

[omori]

In case of spot trade or holding I don't think there is any need to set stop loss if that coin has potential for future and if you think that coin can do well in future then you need to hold that coin for long time so in this case it is logical to think about stop loss.  no  But stop loss option is very important if someone is doing future trading because if stop loss option is not used then there is a big fear of losing the entire fund.  Which can happen anytime because crypto is highly volatile so it is normal to see 20-50% pump/down of a coin at any time which can even zero 3-5x leveraged balance.

In futures trading, we should use stop loss so that we do not experience greater losses if we predict the price wrongly or make the wrong strategy. But in spot trading if we choose the top coins, we do not need a stop loss because when there is a decline we can hold it, and the possibility of the coin will rise again.

Spot is the way if you don't want to sit on the market on monitor the situation all the time.
Just buy, hodl, and forget about the rest. Enjoy the fireworks when the bull starts knocking.

[MUGNIA]

for example, if a greedy traders buys Bitcoin at certain price, he may choose to hold even when price increases, a greedy trader may keep holding with the thought that price will continue to rise, unfortunately, the price dump and he end up losing all his profits.
Greed has caused many traders to suffer losses especially the future and margin traders. Many of this traders over leverages their positions to an extent that when the market goes very volatile, many will be liquiditated on either long or short positions.

This case happens a lot and in the end they blame Bitcoin as a scam even though they are the ones with the wrong strategy and lack of education about the Bitcoin cycle, and they do not understand that there will be a correction so that when BTC experiences a decline they immediately sell, they are more afraid of losing than waiting for BTC to go up again

[ajiz138]

Maybe they regret when they apply stop loss then the price reverses when it touches it, then when they do not apply stop loss the loss will be even greater.

This requires in-depth analysis, where we apply the stop loss number and so on. And once again this is not something easy because it requires good observation and experience. However, if it is accompanied by greed, it will be even more dangerous.

There's nothing wrong in putting a stop-loss in every single trade. For me, it's a must and we can't compare it to a trader who didn't put a stop-loss because they are not profitable. Why could I say that? It's because putting a stop-loss also needs analysis, just like putting a take profit target, we also have to put an ideal stop-loss. Now, where to get the ideal stop-loss? You must determine the invalidation of your entry, that if ever the price go to that area you consider it failed trade or a sign that the market will go to the opposite direction. So if you find out the invalidity area, below that is your stop-loss if you're longing; and above that if you're shorting.

Yes, it's not wrong and I'm not saying it's wrong, but I mean some people when they get a stop loss and then the price reverses and then they regret applying the stop loss.

Then in the next trade they hope the same thing happens so they don't put a stop loss or they are afraid that when they hit the stop loss the price reverses like before. You could say they hope for luck, that's what I mean.

[rizqillah]

Yes, it's not wrong and I'm not saying it's wrong, but I mean some people when they get a stop loss and then the price reverses and then they regret applying the stop loss.

Then in the next trade they hope the same thing happens so they don't put a stop loss or they are afraid that when they hit the stop loss the price reverses like before. You could say they hope for luck, that's what I mean.

In using the Stop Loss feature we must also do analsia and read trends, if the possibility of the market will rise we don't need to use stop loss features. This is needed an analysis and good experience to be able to predict the direction of the market correctly, because the Crypto market is very volatile.

[milewilda]

Yes, it's not wrong and I'm not saying it's wrong, but I mean some people when they get a stop loss and then the price reverses and then they regret applying the stop loss.

Then in the next trade they hope the same thing happens so they don't put a stop loss or they are afraid that when they hit the stop loss the price reverses like before. You could say they hope for luck, that's what I mean.

In using the Stop Loss feature we must also do analsia and read trends, if the possibility of the market will rise we don't need to use stop loss features. This is needed an analysis and good experience to be able to predict the direction of the market correctly, because the Crypto market is very volatile.

Stoploss would really be that only relevant when you do make out some short trades or simply relevant when you do make some futures trading because at the time that you do deal up with short trades then you will be that needing up to be wary about on your stop loses to avoid furthe or more deep on which we know that into this aspect which it will really be not hard to mind off that much because if you are really that making yourself that being too greedy and dont set out those limits or threshold then you will be having that huge issue.

[dave_strider]

Yes, it's not wrong and I'm not saying it's wrong, but I mean some people when they get a stop loss and then the price reverses and then they regret applying the stop loss.

Then in the next trade they hope the same thing happens so they don't put a stop loss or they are afraid that when they hit the stop loss the price reverses like before. You could say they hope for luck, that's what I mean.

In using the Stop Loss feature we must also do analsia and read trends, if the possibility of the market will rise we don't need to use stop loss features. This is needed an analysis and good experience to be able to predict the direction of the market correctly, because the Crypto market is very volatile.

Stop loss is a must if you have even a fraction of the doubt in the position.
We can't ignore it or hope for the best - only cold facts should lead us in our decisions.

[JISAN]

Yes, it's not wrong and I'm not saying it's wrong, but I mean some people when they get a stop loss and then the price reverses and then they regret applying the stop loss.

Then in the next trade they hope the same thing happens so they don't put a stop loss or they are afraid that when they hit the stop loss the price reverses like before. You could say they hope for luck, that's what I mean.

In using the Stop Loss feature we must also do analsia and read trends, if the possibility of the market will rise we don't need to use stop loss features. This is needed an analysis and good experience to be able to predict the direction of the market correctly, because the Crypto market is very volatile.

Stop loss is a must if you have even a fraction of the doubt in the position.
We can't ignore it or hope for the best - only cold facts should lead us in our decisions.

Greed always puts a trader at risk because the market is volatile and never behaves monotonically. Greedy people always expect great things which are never possible in reality. Again there are some potential coins that need to be invested and held for a long time otherwise there is no good return and they are less volatile like Bitcoin, BNB, ETH but not everyone has the patience to invest in them for a long time.

[ajiz138]

Yes, it's not wrong and I'm not saying it's wrong, but I mean some people when they get a stop loss and then the price reverses and then they regret applying the stop loss.

Then in the next trade they hope the same thing happens so they don't put a stop loss or they are afraid that when they hit the stop loss the price reverses like before. You could say they hope for luck, that's what I mean.

In using the Stop Loss feature we must also do analsia and read trends, if the possibility of the market will rise we don't need to use stop loss features. This is needed an analysis and good experience to be able to predict the direction of the market correctly, because the Crypto market is very volatile.

Of course we also can't be careless in setting stop loss, we have to analyze very well, where the resistance point is and where the support is so that we can determine where we can set stop loss or take profit.

All of that will also have its calculations, so we don't just set something without doing an analysis first. That's the same as being careless, because in any case we have to see based on knowledge.