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?
Conquering greed is not as easy as it may sound. I have not really taken trading completely serious, rather, I buy and hold, waiting for that particular coin to grow in price. Yet, selling them off to take out profit is not that easy, as it is prone to increase even more in time to come.
Most times when I trade, I get clustered with FUD, FOMO, but for greed, the moment I get profit in a trade I placed, not having intention of holding it for a long term, I quickly close the trade to secure my profit. That profit to me is very important to me, if I want to stay a bit longer I use the stop lose, while adjusting the take profit little by little.