How to overcome greedyness

General
1

Hi anybody can give valuable suggestion to over greedyness, I can able to handle fear in market buying more when market is down and making in intraday but not able to handle greedyness… Coz of which losing money…

2

one way to overcome greediness is to accept the fact that you will never be able to catch every single top and bottom and hence following a fixed method to book profits will always keep you in profits…secondly, accept the fact that a small profit no matter how small it is or a breakeven situation are always better than a loss.

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3

The solution to almost every psychological challenge is RULES.

Make Your Rules.
Follow Your Rules.
Refine Your Rules.

-Neha

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4

Thank you all …

5

Dont have profit targets

If you have targets, you become greedy

I am not talking target price within a trade, but targets like I need to make 50k profit per month etc.

6

:thinking: I’m very tensed about my situation…

7

Trialling stop-loss if trade is going your way, otherwise exit at initial pre-determined stop-loss. No emotion, no feeling attached. KISS method. Repeat the process over and over again. Never ever compromise with the stop-loss.

Thank the market when your stop-loss is hit. Feel easy for being wrong. Slowly and steadily profits will automatically overcome your losses. Experience will bring wisdom.

Stick to your plan - No greed, no fear.

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8
  1. Have a system. Do not trade in an ad hoc manner.
  2. Detach your feelings from trade.
  3. Never compare two trades. Sometimes it happens that when you lose money in one trade, then you tend to make up for it from other trades. Never do that.
  4. Have a target.
  5. More importantly, have a stop loss or a good hedging system
9

Nobody can change a man’s nature. If you don’t want greediness to take over you, then you should give priority to something besides money. All of us think that money is the sole purpose of life. How many rich people have we seen living in depression with all the money in the world? Think about it just for a moment.

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10

Realize that every trade is risky and can wipe you out in an instant if it isn’t well calculated. Experienced traders and even HFTs place calculated trades - they don’t look to maximize profit on each trade, they minimize risk and want to be more consistent in bringing profits while doing so.
Sadly a lot of people only learn this the hard way, i.e. losing money.

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11

follow the theory of LET OTHERS ALSO EARN !

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