Avoiding greed when the price is continuing to rise

[BrolySSJ]

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?

 

[Kayzzy3]

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.

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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.

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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?

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You are right, greed has been the undoing of many cryptocurrencies traders, they don't know how to draw a line between greed and hope.

At the point they believe it will rise further, the price crashes and they loose money in the process, that why it important to know the limit you can go, make the much you can and leave the rest.

 

[Kamon c4]

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.

 

[GIFTMICHAEL]

Greed is one dangerous disease that can destroy a business. People want to accumulate a lot of profit in cryptocurrency investment and they end up losing the one they already had. You discover that the value of your coin is rising some took risk enough to leave it until they lose out.

 

[Ehizzy1]

Well i think you are right tho only that most times people dont normally consider greed and others , they are just willing to take and make more profit for themselves without considering the disadvantages involved in doing so i think which is really bad i guess , so its best to measure the risk and others when trading

 

[Mahnoor]

measures investor emotions of fear and greed on a daily, weekly, monthly, and yearly basis. Too much fear can drive stock prices too low, while greed can raise prices too high. This index can serve as a tool for making sound investments.

 

[Fatima]

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.

I believe you, some times what you see as greed is just a risk on investment, just to get more returns to me I won't call that a risk, it's business spirit, to invest more , even if it warrant me to empty

 

[Kamon c4]

I believe you, some times what you see as greed is just a risk on investment, just to get more returns to me I won't call that a risk, it's business spirit, to invest more , even if it warrant me to empty

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.

 

[Sheyemanu]

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

 

[Jlife]

Lolz,this has actually been affecting me so much that sometimes instead of me to take the little profit I will allowed it to accommodate thinking that they will go out and I will get much but at the end of the day I will end up losing so much that I cannot even recover my initial capital anymore.

 

[Bholozy]

Greed has been the downfall of most traders today, they tend to believe the increase will continue without any analytical support or evidence. The first rule in crypto or forex trading is to avoid being greedy, greed in trading is more like a gamble

 

[Chumzy]

When price is continuing to rise it would clearly be an unwise time to enter the market. Yes you might get lucky and then it continues to rise for a good oenghr of time. But then most times it surely hits a resistance and bounces back to haunt you.

 

[KENDRA2020]

It is the sole aim of everyone involved in crypto to make mad profit. Avoiding been greedy is just like you are avoiding making more and plemt more money. We are bound to make loss and profit.

 

[Onachukwu]

In the realm of investing, one often hears about, for instance, the contrast of value investing and growth investing. These are important concepts, but human psychology is equally important. There is a vast academic literature, known as "behavioral finance," devoted to the topic. Our goal below is to describe what happens when emotions drive investment decisions.

 

[Ralphjoe]

I don't get greedy with my cryptocurrencies because before I invest in cryptocurrencies, I always have a target price that I would want to sell my cryptocurrencies for and once the price of that coin get to my target price, I will sell it.

 

[Kelly5]

How wet is our appetite for profits? That is the question hanging in every one's head when the price of our prediction is in our favor. We tend to forego the rational thought of taking our intended profits at our appetite level and then realized we're running into a loss but already too late sometime.

 

[Sake]

You're right, it's not good to be greedy when it comes to investments. If whales dumps before you .you will suffer a loss that's why we should set a price that will already give us a good profit and sell off. However sometimes you sell off because you didn't think it would continue the. It did... You will feel regretful

 

[Joseph555]

This will be very important because I know what it means to be greedy who is the coin is on the high you make your own money and get out of the market what if you are allowed real Creed to take the better of you he will keep on pushing can you sing so it is advisable and for the meantime you should avoid greed and trade what you can loss don't trade all your life savings because anything can happen

 

[Taimoor Jutt]

Yes you are right and of course it happens. But the real thing is that when price going up and we sell our currency, but prices still going up so people think theu did wrong. Next time they waiting for highest price but price keeps going down this is the happening.

 

[Yousaf3814]

At the time, it seemed all an adviser had to do was pitch any investment with "dotcom" at the end of it, and investors leaped at the opportunity. Buying of Internet-related stocks, many just startups, reached a fever pitch. Investors got greedy, fueling more buying and raising prices to excessive levels. Like many other asset bubbles in history, it eventually burst,