Quote from: Nalain420 on March 17, 2025, 07:23:28 PM

Quote from: Renampun on March 14, 2025, 07:10:37 PM

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

One of my friends who is into crypto trading made a remark. He said, "I am gradually learning how to conquer/manage GREED. Once I make small profit while trading, I will immediately close the trade. I am not interested in making $200 with $10."
It is funny but he learned this the hard way. As a trader and even generally in life, the lesson that you refuse to learn from the mistakes of others, you'll finally learn it from your own experience.
My question to you is that, as a trader, what ways from your experience have you learnt to conquer or manage GREED?

My way of conquering greed is by controlling emotions and anti-fantasy, usually people who always lose when trading are those who are influenced by their fantasies, they hope to win all the time when in reality it is the opposite, they actually lose because they place bets instead of trading.

Besides, if you think you will immediately exit when you make a big profit, you have made a big mistake. Successful traders are traders who make a profit from a percentage of the trading results they get, not the explosion of profits they get in a single trade.

What you are saying is right but I wanna add somethings to it, Emotional control is the biggest part of it, How can we control them? We can't control them only thing can we do is manage, we can manage them by put in place some strategies like after a loss go for walk for 5 min, like Managing ourselves is the best strategy, Changing lifestyle to healthy lifestyle, Eating foods that are nature created not human Manipulated, all that reflects in our trading account.

Sometimes Greed is less heavy then void to do something, to fill that void. We think we have to do something, by thinking that way we place positions that we should not have placed, that's the worst time to take any position, This is the start of big blow up if we continue placing trades without thinking Straight we will blow our account pretty soon.

We should always keep these things in mind that controlling emotions is an important thing in trading. The strategies that you mentioned to adopt, I think these will be very beneficial for a person who has suffered a trading loss. If he faces a loss, then of course that person should stop trading for a while, and it is important to control his emotions. And we know that when he makes a profit by trading, greed takes hold of him a lot, greed always reflects badly on a person, which leads him to a place of loss. In that case, when presenting trading, one should never be greedy, but one should present thoughts in such a way that one can stay away from greed. And if we go into trading without controlling greed, then of course we will face huge losses here and all the funds in our account will be lost, in that case one should control emotions and stay away from greed.