Quote from: In the silence on Today at 03:22:10 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?

One of the obvious reasons for traders fail is they struggle to let go, I myself included. To conquer greed, you need to be contented with enough. That being said, you need to know your risk appetite and gain satisfaction. You can use others method for your reference to learn and to make your own trading plan.

Greed causes a lot of harm to everyone, greed is never a good thing, a trader becomes uncontrollable due to greed, trading is a field where losses are bound to happen, and you should never let yourself get bored because of these losses.
Find out the reason why you lost, and then, be more careful and research the market and trade properly. Always have a well-organized trading plan, financial limits and use the right methods at the right time. There are many things to understand in trading, so a newbie should learn them well with the right mindset over time.