When Greed Keeps You In

in hive-175254 •  2 months ago 

photo-1579225818168-858da8667fae.jpeg
Unsplash

This is a major issue with many business people and investors. Especially those who are players in the markets. Sometimes, you've made more than enough money for the day, but because you see just one last opportunity, you want to still juice it. If luck is on your side, that trade is successful. You don't still get out.

You still stay in, all excited - thinking that you'll make all the money in the world. One successful trade after another, you still want more. Until you place a trade that doesn't come in. One bad trade. Suddenly you feel unsatisfied with all your wins, you just want to get back to that amount you reached.

And you'll lie to yourself that when you get back that amount, you'll call it a day. Luck strikes again, you get back to the amount you reached. But yet, you refuse to call it a day. Telling yourself - just one more trade. Unfortunately, another bad trade. The urge comes again to get back to the level you already reached.

This time you promise yourself that if you get back to that amount, you'll definitely call it a day. But unfortunately, the next trade is perhaps bad, and the next one after. Surprisingly, such a trader sees him/herself losing back to back all the money they've made. And even if they're still in some profits, they refuse to rest for the day.

photo-1606189934846-a527add8a77b (1).jpeg
Unsplash

This is usually called the recovery ladder - when traders struggle with all their mind and body and soul to get back lost money. But the problem with those kinds of moments is that the trader loses all sense of emotional control. Heart beating fast like you were in a battle field, fighting for your life.

The best thing to do in such situations is close your system and run away. It's called run away, because you know that if you don't run away, you may blow out your account. But unfortunately, greedy traders lack the discipline to run away. So they say to themselves that they rather lose everything. And eventually they do. When greed keeps you in the market, pain will surely take you out. Don't let that be you.

Thanks for reading. If you have any contribution, kindly drop it in the comment section below. Bye for now!!!

image.png

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Greetings @greatideas at certain times that feeling of wanting more, which you call greed, ends up making us lose our capital, hence the need to respect our strategy and work according to it. Greetings

Thanks for commenting!

Hello friend @great ideas.

At some point we always have that instinct to be more, we always have a higher goal, when something motivates us we feel as if we were in battle with a million heart, we always have to know how to control our emotions when we want to make an investment.

Greetings and thanks for your article

Thanks for commenting!

Hello @greatdeas!
It is very true that it can become a problem or a vice not to control the investments and keep putting at risk everything you have and especially lose control, so you have to be very careful not to be absorbed by the system. Thanks for sharing, greetings!

Thanks for commenting!

When I read your article, I was thinking about those who gamble in casinos, it seems very similar to me. Greed, ego clouds the mind and uncontrolled emotions. And we know that emotional intelligence is vital in trading.

A proverb says: "it is better to say here he fled, than here he died". Sometimes it is wise to recognize when to give up.

Thanks for this post. Best regards.

Thanks for commenting!

I have to agree that title of the post is interesting.

You still stay in, all excited - thinking that you'll make all the money in the world

That's what most of us think however things don't always go the same we expect. Nice write-up.

Thanks for commenting!

Hi @greatideas

I liked this title "When greed keeps you in", I think this is about consistency and persistence within the market, beyond greed or fear.

Best regards, be well.

Thanks for commenting!

If luck is on your side, that trade is successful.

First of all I agree with this phase. Luck plays an important role in life. If you make a profit in one trade you will always try and sit back for another profit in the trade.
In trade Market is very risky.

Thanks for commenting!