Avoiding greed when the price is continuing to rise

[tyrim88]

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.

 

[Bookwormlux]

I made this mistake when the price of LTC was going up last month. I didn't think about selling, I forgot that the probability of dropping is high too.

 

[Josemendez]

I think that the best thing for one to do is to try to set a target ,perhaps a certain percentage rise at which he is going to sell his coin .if one continues to wait for further rise in price , he may end up losing to the volatility associated with cryptocurrency.

 

[Ehizzy1]

It depends if you are sure of the trade you could choose to still leave the coin to continue rising ,except you are not too sure about the trade then you could close it

 

[Kelly5]

I personally have been in this type of situation when I was trading forex at one time if not many times. I see the price going my way in a lot profits and won't want to pull out of the trade. It's a bad way to trade actually

 

[Sotherefore]

This has affected me so much few months ago because when I came into cryptocurrency newly I always expect to get rich very quick from cryptocurrency and when a particular coin is rising instead of me to take profit I will still expect more and I will end up losing everything.

 

[IamDozzy]

That's the issue with succeeding in business and investment. Once our greed can be controlled then we are good to go in all facet of business and investment.

 

[Bookwormlux]

The most effective method that one would think of is to put stop loss in all your transactions, whether you are buying or you are selling. It saves.

 

[Akinwale701]

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 takes extreme discipline to choose to sell off when the prices continue to soar high and higher you will be feeling that you need to leave your assets with the hope of more increase.

 

[Prettyjanie]

Well I don't think greed would be the appropriate word. A lot of people invest with the intention to make profit and when the money begins to go up, they are happy and suddenly the money drops as with crypto. It's not greed

 

[Niftyyem]

The most effective method that one would think of is to put stop loss in all your transactions, whether you are buying or you are selling. It saves.

I agree with you that stop loss can save one from some premium tears. I wished I had used it in my doge transactions but now the funds are hooked despite the fact that I wanted to just buy and sell over a short term.

 

[Prettyjanie]

In the cryptocurrency market, it is marred with a lot of fluctuations as such, when you have made a certain amount of money, it is advisable to withdraw your money do not allow greed to make you lose everything.

 

[Delight]

I think this has been affecting a lot of crypto traders because I have an experience in which crypto traders will never like to take their profits thinking that the markets will continue to go as they expected but they will end up losing even more .

 

[tyrim88]

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?

The strategy that you are applying in the cryptocurency trading is good and its the type that suites you.But to some persons who are doing the trading for a major hike to occure before they sell,you might not blame them,because they too want to take risk on the high side.As for me,i do hold my crypto for future purpose.

 

[akinlolu99]

In business avoiding greed is not a very easy something because it is generally known the point of creating a business is to drive profit first and foremost then see how the business can help the general public. So saying how greed can be avoided in business it's almost if not impossible.

 

[Jsoliu004]

Online marketing is the process of advertising any kind of good or service to potential consumers via digital strategies. From articles and videos to

 

[Mayox25]

Part of being a wise investor is to know when to profit from your investment. There is nothing that goes up that won't come down and so if your greed delay your taking profit you will then be filled regret.

 

[Suba]

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

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.

 

[Nurudeen]

You just made a solid important point. A lot of people are failing to take profit in the crypto currency exchange Business and its letting them lose their profit and capital at the end of the day

 

[kayode10]

This is common among the local sellers here to have it in mind to make hundred percent profit on every good they are selling. This greediness usually daily basis of their goods and some of them expired and lose money entirely.