and I never said they are arrogant. being greedy and arrogant are not the same. it doesn't matter if they have high self-confidence or bet with strategy as long as they are greedy and doesn't have discipline they are bound to lose no matter what their strategy is
If you have a strategy and follow it through, you already have discipline
With that in mind, we can assume that a) you (by you I mean the person OP talks about and their likes) don't have a strategy, b) your strategy is not working and the gains are simply the effect of luck, and c) you become so greedy that you lose all caution and fail to follow the plan. Other than that, I agree that arrogance and greed are different things even if the outcome is still the same, i.e. loss