Avoiding greed when the price is continuing to rise

[BrolySSJ]

Before investing in crypto we must know that cryptocurrency is a type of high-risk investment, so we must have good knowledge of investment analysis and strategies or you can use a mentor or discuss with friends. Don't forget to read the latest crypto news. Don't be afraid to make a decision when the crypto price is about to peak to sell or swap some of the crypto investment (about 30%) with a stablecoin.

Staying up to date when it comes to cryptocurrency news is paramount in ensuring that you make the right investment decisions, because a decentralized network such as this will be heavily dependent on the news and how people respond to this news as well. One such instance of this from what I have seen is the lawsuit that was associated with the ripple coin. When the lawsuit made news headlines the price decreased drastically. However, when the news articles decreased, the price started to rally up, showing the power of news articles in such decisions.

 

[Good-Person]

Staying up to date when it comes to cryptocurrency news is paramount in ensuring that you make the right investment decisions, because a decentralized network such as this will be heavily dependent on the news and how people respond to this news as well. One such instance of this from what I have seen is the lawsuit that was associated with the ripple coin. When the lawsuit made news headlines the price decreased drastically. However, when the news articles decreased, the price started to rally up, showing the power of news articles in such decisions.

I believe that people should not be greedy and act smartly when it comes to crypto trading. It is always a good idea to trade crypto on hourly basis and this is the only strategy I will be following in the future because it is profitable. I do not believe in holding coins for a very long time.

 

[Alexandoy]

I believe that people should not be greedy and act smartly when it comes to crypto trading. It is always a good idea to trade crypto on hourly basis and this is the only strategy I will be following in the future because it is profitable. I do not believe in holding coins for a very long time.

Oh gee, do you mean you are trading crypto coin every hour? I wonder how much you are earning. It is like buying crypto at 3 pm and at 4 pm you are going to sell. Within that 1 hour period it should have a substantial price fluctuation in order to gain a substantial profit. Again, how much do you earn?

 

[Bousine123]

Greed is one of the major factor that will make an investor in cryptocurency to keep holding unto his asset when the price keep going high.When you don't have a forcast of what you want,and insatiable wants sets in,thats becomes a problems to investors.

Yeah but in most cases, it's better you sell it of. Some people actually do short term trading because they make a living of it.

 

[jeff87]

One of the major concerns that people have in the cryptocurrency world is giving in to greed and naturally so. WE all want to try and make the most that we can from our investment, and we want to try and get the largest profits as well. When we see a coin that is on the rising and the price and value continues to go up, we always want to hold that coin until it gets higher, and higher, until we sell our coins for maximum benefit.

However, this greed is very risky. Think about this scenario... If there was a whale at this point, they could sell off a lot of their coins and cause the price to crash, in which case the profit that you were expected to make can evaporate in a matter of minutes. This will result in you making a loss from what could have previously been a good profit.

It is important not to be greedy. When you reach your profit threshold that you want to achieve, you should make the sale rather than waiting for higher prices. The way that I do this is that I set the sell order when I buy a coin of what I want to sell it at. This way if that price occurs the sell order will execute, and I will be profiting from the coin, and preventing myself from getting greedy.

What ways do you use to stop yourself from being greedy when the cryptocurrency trend in value of a coin is rising?

You are very correct in your tips here. I have regretted many trades I have. I already could have gained a lot of money if I exited before the price goes down. It is because I was so greedy that I want more profit. I keep on waiting for the price to go on higher and higher. But instead it went down so fast that when I start to sell the price already has gone down tremendously.

 

[Setho]

In learning about cryptocurrencies it is important that you learn about stress management and risk management . This will help you to manage your funds in situations like this.

 

[tyrim88]

Staying up to date when it comes to cryptocurrency news is paramount in ensuring that you make the right investment decisions, because a decentralized network such as this will be heavily dependent on the news and how people respond to this news as well. One such instance of this from what I have seen is the lawsuit that was associated with the ripple coin. When the lawsuit made news headlines the price decreased drastically. However, when the news articles decreased, the price started to rally up, showing the power of news articles in such decisions.

This is very true,especially in this business trading of cryptocurency and its nature,where there are no basis to evaluate the actual value of the coin,which is mainly driven by market force,an authority that is well respected might just make a speculation,and it would trigger a price shake up.

 

[BrolySSJ]

This is very true,especially in this business trading of cryptocurency and its nature,where there are no basis to evaluate the actual value of the coin,which is mainly driven by market force,an authority that is well respected might just make a speculation,and it would trigger a price shake up.

Of course in such cases that the market is affected to such a large extent it will be largely dependent on the actual company that is involved in these statements as well. For example if we have to consider a small international company making a statement about cryptocurrency then we may see a price rise that is small, but larger company has more influence and as a result can cause a greater price shift as well.

 

[Kingstone]

Well, greed is human nature. Investing in coins is a risk itself and waiting for the coins to rise is another bigger risk. Trading itself is a risk. Seeing you have more profits from a trade, greed will make you not exit the trade.

 

[Setfragil]

I have lost a lot of money due to my greed in cryptocurrency. At the beginning of this current bearish run that saw bitcoins dropped from $64,000 to it current market price, I lost some money simply because I was waiting for the price to increase more.

 

[Lens]

This is what I always preach when it comes to cryptocurrency investment. You need not be greedy when trading. When you are fund of expecting a huge profit, you are likely to fall victim of losses. Be satisfied with little profit , this will help your trade.

 

[Good-Person]

Oh gee, do you mean you are trading crypto coin every hour? I wonder how much you are earning. It is like buying crypto at 3 pm and at 4 pm you are going to sell. Within that 1 hour period it should have a substantial price fluctuation in order to gain a substantial profit. Again, how much do you earn?

Yes, it is possible to trade crypto on hourly basis. Crypto price rise and fall every hour. For example, Bitcoin might have a value of $37,000 at 3:00 PM after one hour, the price may rise and gain $200. So if you bought Bitcoin for $37,000, you may gain additional $200 on your trade. This means you earned $200 in just one hour. Please not that you may also lose money and you may not always earn $200 because bitcoin price rise and fluctuate but not that high or low all the times on hourly basis.

 

[Dowenship]

One of the major concerns that people have in the cryptocurrency world is giving in to greed and naturally so. WE all want to try and make the most that we can from our investment, and we want to try and get the largest profits as well. When we see a coin that is on the rising and the price and value continues to go up, we always want to hold that coin until it gets higher, and higher, until we sell our coins for maximum benefit.

However, this greed is very risky. Think about this scenario... If there was a whale at this point, they could sell off a lot of their coins and cause the price to crash, in which case the profit that you were expected to make can evaporate in a matter of minutes. This will result in you making a loss from what could have previously been a good profit.

It is important not to be greedy. When you reach your profit threshold that you want to achieve, you should make the sale rather than waiting for higher prices. The way that I do this is that I set the sell order when I buy a coin of what I want to sell it at. This way if that price occurs the sell order will execute, and I will be profiting from the coin, and preventing myself from getting greedy.

What ways do you use to stop yourself from being greedy when the cryptocurrency trend in value of a coin is rising?

I don't enter a trade at the greed level i ensure i use market limit.i enter the trade after i realised the resistance and support of the market...

 

[Niftyyem]

I have lost a lot of money due to my greed in cryptocurrency. At the beginning of this current bearish run that saw bitcoins dropped from $64,000 to it current market price, I lost some money simply because I was waiting for the price to increase more.

Unless you were holding some shit coins, you only lose when you sell. Holding core coins like btc, ETH, ada and the likes just require patience because they will end up rising again.

 

[Alexandoy]

I have lost a lot of money due to my greed in cryptocurrency. At the beginning of this current bearish run that saw bitcoins dropped from $64,000 to it current market price, I lost some money simply because I was waiting for the price to increase more.

Do you mean to say that it was already time to sell when the price hit $64K level and yet you still waited? Oh, that was a big mistake. Yeah, maybe you can attribute that to greed. That is one difficult moment if you have holdings because you purchased it at a low price and when there is the bull run when to sell is a big question.

 

[Setfragil]

Do you mean to say that it was already time to sell when the price hit $64K level and yet you still waited? Oh, that was a big mistake. Yeah, maybe you can attribute that to greed. That is one difficult moment if you have holdings because you purchased it at a low price and when there is the bull run when to sell is a big question.

It was greed that cost me to lose a lot of money. When bitcoins hit $64,000, I was still holding it with the hope that it will rise above $64k at the time only for it to dropped massively to $30k plus within a week.

 

[BrolySSJ]

I don't enter a trade at the greed level i ensure i use market limit.i enter the trade after i realised the resistance and support of the market...

This is a good point to enter the market however I think that the best point to enter the market is when the greed and fear index is actually showing a severe panic or fear. This is generally the point where people start to sell their coin and as ourselves the price drops quite considerably.

 

[Dowenship]

This is a good point to enter the market however I think that the best point to enter the market is when the greed and fear index is actually showing a severe panic or fear. This is generally the point where people start to sell their coin and as ourselves the price drops quite considerably.

OK... But at this point of entry doesn't this look like its going to drop more due to the fear of investors and traders, if as a trader, i entered into the market at a very panic or fear state wont the market dump more....

 

[Elfinito]

Patience is the main key to being a successful trader.
If I have some coins in the long term investment, I learn to avoid checking on my wallet consistently because you would certainly be tempted to make a sell if the price is moving

 

[Good-Person]

Well you’re very right but you know sometimes greed can be favorable and you end up making huge profits. It’s not referred to as greed when you make high profit, it’s referred to as risk taking and when you lose, it’s called greed.

Yes, you are right. Sometimes crypto coins can rise so much that greed can be good for the investor. I think there is no problem investing in a coin if the coin is going up. However, if the coin starts decreasing even slightly, then it would be wise to pull off investment at that point.