Re: Trading and Greed

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

It depends on what greed means to someone. However, if someone wants to profit 2000% with one trade, obviously will either have to have a lot of patience or not care for his capital. For me, as long as I have some fair/ logical profit, I'm good. Sometimes, I continue trading the specific pair; some others I don't. The factor is that I never seek crazy returns, even if (in some cases) I "expect" them to happen. IMO, it's better to have more successful trades with low profit than 1 with a crazy one.

It depends on how we are, but having a lot of trades means we have to have a lot of capital too, so it's a bit difficult for people with small capital.

I think the most important thing is to be consistent in getting profit, even though the profit is small, but if we get it consistently then sooner or later, we will get big profit.

Usually people are not satisfied with what they get, that's what ultimately makes them greedy in trading. and greed in trading, we know it's not wise.

Those people who can’t find satisfaction are clearly those who enter trading having those mindset that it can make them get rich quick. Not realizing that greed will never make them gain huge profits but might even make them poorest in an instant. I’ve learned this before, that’s why I don’t settle for big trades now and use large capital, but small but consistent profits is already good enough.

On the moment or time that you wont be finding out such contentment or satisfaction at the moment that you do make up some money or profits then this will be that pushing you up to do something even more on which it is outside of your limitation. Come to think that overtrading is a very common situation for most traders and could definitely be resulting into loses once you cant be able to handle it out well. When you do make trades then its always recommended that you should be having always a trading plan on which on the moment that you do reach up such threshold then this is where you would be stopping out completely and calling it a day on which it doesnt matter whether the trade you have done is a win or lose. Greed is always present specially on the time or moment that we do become profitable on which we will be thinking that we can get even more.

One of the main problems too of a certain trader is that when trying out to secure profits on that particular trade. We are all guilty with this on which at the moment or time that you do make out some trades and made out money, then we do ask for more and we do want for more to make up that kind of generation of profits on which we know that it couldnt happen all the time. Market is always been that volatile and there's no way that you can be able to end up on having that profitable position all the time. This is why when you do trades and once you do make profits then always secure it out no matter what.