Avoiding greed when the price is continuing to rise

[Emma Aneni]

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.

 

[Shahzaib37]

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?

It think you need to take time and check market and value of product as bitcoin value increase if you buy it fast then it makes non profitable when its price down high and it is very bad to you money and it is very harmful for business.

 

[Pauljonnes1000]

This is not a new thing in businesses. But the sad story is that it could entirely distroy an empire of business been built for years. Greed is not good at all, because acruing goods could be dangerous. Because the price can suddenly go down. And you loose huge some of money.

 

[Adetayo100]

Avoiding greed when the price continues to rise in bitcoin or other crypto currency is very hard but you should avoid, always sell when you are in profits unless you are holding for the future. If not the crypto can crash and you will be in loss.

 

[Blessedsam60]

Well said sir! One has to really master the act of trading and how to avoid greediness when trading crytocurrency. Just like forex trading too, you take profit or stop your loss at some specified targeted time.

 

[BrolySSJ]

Avoiding greed when the price continues to rise in bitcoin or other crypto currency is very hard but you should avoid, always sell when you are in profits unless you are holding for the future. If not the crypto can crash and you will be in loss.

Even when holding for the future you have to know when to cash out as well. Whilst it is good to hold coins for the future as we have seen with dogecoin, Ltc and bitcoin, it can be dangerous as well as the crypto world is decentralized and the price can crash at any time. Therefore if you are in a profit then you should sell at least a portion of your investment and leave the rest for holding. What I tend to do is that I sell so that I make back the same amount that I invested and then the rest I leave for holding. And I continue to do that until I build up a lot of holding coins.

 

[Prettybabe]

Poster, you're very right with it o. Most times greed drives people so we'll that in a bid to have maximum profit on a single cryptocurrency, they end up loosing more than they have gained.

I'm trying to not let greed take over me... As I just started my trading journey

 

[Ridorz]

As we know that cryptocorrency is unpredictable thing that nobody will know what will happen to it in the next ten minutes, and investing on crypto is a act of taking risk. Some time when you see the coin that it's raising up and you quick sell with aims that it may fall back but later you see it that it's still raising up, you will be regret it.

 

[idhans]

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?

Why a lot of people lose money in cryptocurrency is because of greed and there is no doubt about that. Always set a target for yourself and once you reach that target withdraw from the market till the following day, and stop going overboard to make more profit because this is why you may lose out.

 

[Briangsam]

Right. Greed is very real when the price is high. It happens to be a natural human emotion that affects individuals to varying degrees. When viewed in the context of trading, unfortunately greed has proven to be a hindrance more often than it has assisted traders. It can very easily turn good trades into bad ones and bad trades into worse trades. Discipline. Being disciplined is the only way out.

 

[Lyrrex]

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

 

[Dowenship]

These Greediness is applicable to everybody we believe that as long as the market is in our favor it will keep being in our favor without knowing that its a do and take.
Quote of the day:
Work and pray as been the phrase to encourage people for years! and that be said is true! Always work and pray

 

[Alexandoy]

This topic reminds me of the story of our manager in the bank. It is about a stock trader who was investing his money in his trading (aside from handling the investment of his clients). When he had hit a stock with a price that continued to rise he mortgaged his home to buy stocks. After a month or so the price of the stock had stabilized and after some months there was a sudden nosedive. The trader lost all his money and his home. That is all because of greed.

 

[Royalty]

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USING STOP ORDER- This an effecting too when trading that trader should imploy, Stop orders are very unique tools that have been designed to help both the busy trader as well as the emotional trader. But its biggest advantage is that it helps you take control of your greed when trading, or more specifically removes greed from the equation completely.

 

[Olubayo12]

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 indeed right. people need to avoid greed when the price of any cryptocurrency is high, you can still choose to sell your coin and you will make your profits without any stress or any problems instead if thinking it might increase more

 

[BrolySSJ]

you are indeed right. people need to avoid greed when the price of any cryptocurrency is high, you can still choose to sell your coin and you will make your profits without any stress or any problems instead if thinking it might increase more

Of course there is a level of regret that people face if they sell a coin and the coin continues to rise in price, however I think that it is better to have that slight regret and still have a profit that risk having a larger regret by not having much of your investment left if the price had to drop.

 

[Olubayo12]

Of course there is a level of regret that people face if they sell a coin and the coin continues to rise in price, however I think that it is better to have that slight regret and still have a profit that risk having a larger regret by not having much of your investment left if the price had to drop.

there is also an instance where by you sell a coin now only for the coin to pump high some minutes or hours later, but to me, it's a normal thing... One has to not be greedy when dealing with bitcoin. You can make your profits
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Of course there is a level of regret that people face if they sell a coin and the coin continues to rise in price, however I think that it is better to have that slight regret and still have a profit that risk having a larger regret by not having much of your investment left if the price had to drop.

there is also an instance where by you sell a coin now only for the coin to pump high some minutes or hours later, but to me, it's a normal thing... One has to not be greedy when dealing with bitcoin. You can make your profits

 

[Chumzy]

I think it all balls down to discipline and how you control yourself. If you have a method and an investment pattern that works for you everytime. It is only natural for you to follow it irrespective of price action and be careful.

 

[ahmedo24]

This is very common with cryptocurrency holders and in the end more losses are incurred than gains so the best is to start taking your profit from 50% and above to avoid loses.

 

[Ayokex]

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.

Honestly everyone is guilty of this. I remember when i was in high school and gambling among my friends. I had already make enough gain and I was supposed to quit but I kept on until I lose everything and even borrowed more.