Quote from: Leebabe on May 06, 2022, 07:59:56 AM

Greed is of major concern in trading and other businesses as a whole. When it comes to trading I think having a stop-loss is going to be helpful in this regard. We need to have a target that when it gets to our target easily pull out but then even after getting to our target greed comes into play especially when we see that the coin we invested in is still flying high. Some would then decide to continue instead of taking profit and they end up going below their capital. This calls for discipline. Set limits, set rules for the risk you take and try to stick to them.Greed most times doesn't pay even though sometimes we might just be fortunate.

Actually not mainly in trading or other forms of businesses but greed is mostly known in gambling. This is where it originated but later on adopted on other fields. We have several threads here about stop loss and each of users have their own different opinion in regards to it but I think, one thing is for sure and that is to identify your goals first. When you are done with that, that's the time you can tell if stop loss is really helpful for you or not.

If you have set your own goal, you must follow that no matter what, happens. So what if you see the price still flying? Just ignore it because it wasn't in your plan and you never know that it was only a trap. I am sure you don't want to lose more, than what you already earned.