Greed is poison

Dorigda posted:
Greed is really quite detrimental to trade, and basically there is only a loss

True, it makes you over trade too which spoils the scenario even more.

Very true with this. Greed can be dangerous aspect when it comes to trading.

That's for sure. Greed, even in everyday life, becomes a problem and you can't live with it normally. And for trading, it's even poison. Traders must not give in to it and always keep control. If you relax a little, all your trades will fail. When you trade, you should try to turn off all your emotions and become cold to such temptations as greed.

Let's be realistic - absolutely everyone comes into trading to make money. And the overwhelming majority of them strive not just to satisfy their basic needs, but to gain full financial independence and prove it to themselves and others. And since trading is a potentially money profession, it is a very fertile ground for greed. You feel the opportunity to become very, extremely rich and it distorts your consciousness. I think any trader goes through this, at least there are a lot of articles about greed.
Hollywood movies about stock trading often surround the profession with a halo of romance and smooth out the sharp corners. Therefore, often in the minds of beginners, and sometimes quite experienced traders there is a change of concepts. They call greediness ambition or purposefulness, and their habit to break the rules because of it - adventurism. Indeed, all TV series like Billions or movies like the Wall Street Wolf show crazy traders who easily break all the rules and usually bring them results. However, reality is not a movie. In reality, greed is destructive.
The main problem is unrealistic expectations. Traders forget what risk and trade are and already mentally plan for success. Sometimes the reality is disappointing, but the trader was already so confident in success that he put all his eggs in one basket and remains with nothing.
The main cure against greed is a simple question 'Why I sure I will win?'. You should ask yourself that more often.

Chechova posted:
Let's be realistic - absolutely everyone comes into trading to make money. And the overwhelming majority of them strive not just to satisfy their basic needs, but to gain full financial independence and prove it to themselves and others. And since trading is a potentially money profession, it is a very fertile ground for greed. You feel the opportunity to become very, extremely rich and it distorts your consciousness. I think any trader goes through this, at least there are a lot of articles about greed.
Hollywood movies about stock trading often surround the profession with a halo of romance and smooth out the sharp corners. Therefore, often in the minds of beginners, and sometimes quite experienced traders there is a change of concepts. They call greediness ambition or purposefulness, and their habit to break the rules because of it - adventurism. Indeed, all TV series like Billions or movies like the Wall Street Wolf show crazy traders who easily break all the rules and usually bring them results. However, reality is not a movie. In reality, greed is destructive.
The main problem is unrealistic expectations. Traders forget what risk and trade are and already mentally plan for success. Sometimes the reality is disappointing, but the trader was already so confident in success that he put all his eggs in one basket and remains with nothing.
The main cure against greed is a simple question 'Why I sure I will win?'. You should ask yourself that more often.

Excellent point well said

unrealistic expectation indicates immature attitude greed and emotions.
this habit really non professional which always make traders greedy.

Chechova posted:
Let's be realistic - absolutely everyone comes into trading to make money. And the overwhelming majority of them strive not just to satisfy their basic needs, but to gain full financial independence and prove it to themselves and others. And since trading is a potentially money profession, it is a very fertile ground for greed. You feel the opportunity to become very, extremely rich and it distorts your consciousness. I think any trader goes through this, at least there are a lot of articles about greed.
Hollywood movies about stock trading often surround the profession with a halo of romance and smooth out the sharp corners. Therefore, often in the minds of beginners, and sometimes quite experienced traders there is a change of concepts. They call greediness ambition or purposefulness, and their habit to break the rules because of it - adventurism. Indeed, all TV series like Billions or movies like the Wall Street Wolf show crazy traders who easily break all the rules and usually bring them results. However, reality is not a movie. In reality, greed is destructive.
The main problem is unrealistic expectations. Traders forget what risk and trade are and already mentally plan for success. Sometimes the reality is disappointing, but the trader was already so confident in success that he put all his eggs in one basket and remains with nothing.
The main cure against greed is a simple question 'Why I sure I will win?'. You should ask yourself that more often.

Well said.

One cannot but agree with the fact that many newcomers were ruined by greed

Greed is a trap. Traders should be aware of it.