How to avoid losing money due to greed
- Thread starter cherry123
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- #23
That's the fact that all gamblers should know just gamble on the amount of money you can afford to lose
It is always better to avoid greed whenever you are into trading so that you can maximize your profit.
Look at the value offered by investment schemes and equate it with the expected returns. Please walk away if it doesn't add up while being so attractive.
This is just the mindset that has kept me from being scammed. If it wasn't this mindset, MMM would have caught me in their trap.
The best advice I can give you here is to try to remove the feeling of greed as much as possible because when the market is in a feeling of greed, misfortune does not take long to come, these feelings are true that can generate good profits to investors who have invested a time ago and can make the market bullish for a good period of time, But it's also what creates financial bubbles, and we all know what happens when there's a bubble and explode.
In order to do this always remind yourself that being greedy can make you loss a lot of money, if not all when investing in a bet or gambling no matter how good you are
Descipline Is very important if you want to avoid greed in any sort of business
Greed is what makes a lot of people lose the money especially in betting, they want to get rich quick. They are not ready to make their money accumulate in a safe way
For anyone who thinks ahead as an investor, you will it want to gamble your money into something that will not pay off or put in your money which you can not afford to lose at a business or investment that you know has a 50-50 chances of not making it so as to have something to fall back to when it does not come out as we want it to. That is why so many have lost a lot in their investment.
Greed is a human trait that cannot be eliminated, but we can control or reduce the nature of greed by making profit and loss target plans within certain limits or what we are more familiar with as Stop Loss and Take Profit, so that it will reduce aggressiveness if you have made a profit. more and conversely limit the nature of wanting to return losses if you have reached the stop loss limit.
Always look for value in everything you want to do and earn money. Ask yourself what value you are offering to get paid. That would help you to leave projects that have no values.
