I agree with this especially about greediness. When it comes to trading, greed might result in rash choices, excessive trading, or taking on excessive risk. Greed can impair judgment, lead traders to risk too much money on a single trade, or cause them to hang onto lost positions for too long. Having a sound trading plan and following it is more crucial than pursuing excessive profits out of greed. To stay out of the greed trap, it's critical to control risk and establish reasonable profit goals.
In any case, greed will lead to negative things, especially in trading. To prevent this from happening to us, we should set a target before we trade, be it a profit target or a loss target. That way, we can further minimize the greed that comes to us.
It's not easy to implement this, but we can work hard to do it. I'm sure we will get used to it and be able to suppress the greed within us.
When we can control ourselves, we will be able to avoid things that will have a bad impact on us. And I think only we can control ourselves, so we have to be in complete control so that emotions or greed don't control us.
Well said. Every Trader without a plan surely will Trade badly, i agree with your opinion that we should always have profit target and also loss (PnL), this helps a lot, me myself I always ensure to set mine this limits the greed and also prepare you for any outcome. If Trader use this method, I do not believe they will be expose to much risk.
This must align with any Traders plan.