Quote from: Oshosondy on March 06, 2025, 06:10:06 PM

Quote from: Davidvictorson on March 06, 2025, 06:02:34 PM

My question to you is that, as a trader, what ways from your experience have you learnt to conquer or manage GREED?

Accept loss and do not trade to try to recover losses.
Do not have the mentality of depending on trading for income.
Have a means to make income from reliable sources like from your job.

There is this man am very close to, more like a mentor to me when am talking about trading. He started with me on Forex trading (though we didn't spend much time) before I later diverted to cryptocurrency trading on my own. There was a time he revealed to me about a certain period he was making massive losses from trading as though he was a newbie and that the reason for that was that he was trading constantly everyday because it was his only means of making income at that time and he needed money to settle family demands as a family, so he has to regularly push it even where he is not seeing opportunities.

When I read what you said on having a reliable source of income and not be depending on trading profits, immediately I just remembered that revelation. It's very correct, having another means of reliable income source would save a trader from getting too greedy and also from making unnecessary trades that could compound his losses.