Avoiding greed when the price is continuing to rise

[Kubiat-Abasi]

Greed has caused so many traders and investors to run at a loss while investing. There should always be a benchmark as to how and when to halt and observe!

 

[greenie]

I would definitely say that this is the first time someone agrees with my point on greed in business. It’s a normal spirit that drives everyone to do more in order to make more money. Everyone wants to make more money but not everyone wants to risk what they have for what they want. I am talking about calculated risks here and not risks that would make you lose all your money

 

[HayKay]

Well one cannot rule out the fact that there's the room for greed anyways when it comes to things like this - the only way to not get affected is to set take profits points or take profits at various points and when it eventually dips, you wouldn't be affected much.

 

[Grandeur]

True talk. One of the reasons why some people make loss on crypto is because they think price would continue to rise even after an all time high then the coin goes dip, they panic then sell at loss.

 

[Bousine123]

It is good not to be greedy, but it takes only the grace of God not to be greedy in crypto currency's business, once a coin increase in value and you invested on it at a cheaper rate, you can withdraw it after sometime to receive your gain but some people will not until the coin lose it value again.

 

[Kaffyfolla]

You see, an investors want to make profits quickly and bull markets provide a great opportunity to make profits in a short period of time. When price keeps rising, more and more people invest more and more money in stocks. Stock prices follow the law of demand and supply. With higher demand (more money), prices keep rising further and profits grow. Growing profits fuel more greed and more money get invested raising prices to excessive levels. At very high prices, asset bubbles are created i.e. prices are much more than intrinsic or fundamental value of assets. Like all bubbles, asset bubbles eventually burst and prices crash. Investors who had bought stocks at very high prices face big losses when market corrects. Some investor may down forever through this

 

[Syldan]

You are right about the greedyness of some individuals. Some of the business people possesses such greedy characteristics which may at last affect their trading because as the price go higher it may fall in the value and you automatically lose.

 

[Skysaint]

I am actually a cryptocurrency trader although I haven't been on the field for long but I can say that I have studied some coins and noticed how they rise and fall and to what extent they can rise or fall and this helps me to withdraw when it is needed.

 

[kayode10]

Greed can turn a profitable trade into loss if care is not taken. Greed bring about the urge to make more profit from the already profitable trade. The best way to curb greed in Trading is to have existing strategy and you must be discipline in North to take action and exit the trade.

 

[Syldan]

In business, every entrepreneur is not supposed to be greedy when the price of his product are increasing most especially cryptocurrency trading and investment. Sell when the price is high not to be greedy because you may end up losing completely.

 

[Setho]

Greed is one of the most popular reasons why people usually blow up their trading account. It is going to be very difficult for you to make millions in one trade and it is even better that you should stop trying and instead pick up small profits along the way.

 

[Lens]

I know very well that the investors with a good knowledge around the technical analysis will be able to know when to take profit. You will probably look at the next resistance level.

 

[Syldan]

Actually you are righ about that. there alot of people who are greedy to some extent that is even applied to their business. Alot of people lost their fund into cryptocurrency because of their greedyness when the value of coin goes up and they fail to sell out.

 

[Sincerem]

Well, it is actually a bad thing for an individual to be opportunistic and is aspiring to make a good profit from their investment or trade, but it becomes detrimental when the individual doesn't know when it is the right time to withdraw from s trade or cancel a trade.

 

[tyrim88]

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.

One of the things that an investor or trader should always have in mind,is to have a stop trade mentality before trading,so that whenever he has reached that benchmark,he should just stop trading.

 

[Lucy ID]

Many people fail or end up losing a lot of money in cypto as a result of their greed for more no consistency of their plans and strategies, to Avoid greed still to your original plans and strategies irrespective of what you see or happens

 

[RG5]

Personally, I have set goals for what I want to do with my profits and it has helped me tremendously. I would also suggest setting goals for you, whether it's buying a car or paying off a student loan, or buying a new game or a new console. Whenever you reach that goal you can decide whether you want to take out your crypto or keep something and pay for those things when you take out something or with full crypto. It's all up to you and your goal for you.

 

[LadAckerman]

Believe or not, greed is sometimes essential in business. This also correlates with inflation. This is because inflation erodes the average person's purchasing power. Everyone's true inflation rate is different, because we all buy different products and services. You can expect to pay more for used cars and car rentals, furniture, airline fares, hotels and everyday essentials like groceries and gas.

 

[James]

Yes you have valid point for surely but people or traders are here to make some decent money and once they got better profit, they start selling them to earn good ROI and I can't see anything wrong it it.

 

[Lens]

One of the things that an investor or trader should always have in mind,is to have a stop trade mentality before trading,so that whenever he has reached that benchmark,he should just stop trading.

It is very good that one should avoid greed when the price is increasing tremendously. With proper technical analysis, you should know when to stop trading.