Everything you feel is a chemical reaction of the brain. If you're in a state of greed the consequences as a trader may be amplified. The power greed has on your trading is that it destroys your safety net. Greed cause the individual to increase risk as they seek instant results to feed their lust. Greed distorts reality into fiction, and the results may be devastating.
Thus for any inspiring traders out there minimize your greed! There will always be opportunities for profit. There is a difference between confidence and greed. The former you believe in yourself and you defend yourself appropriately... the latter is based on wishful thinking. Don't be the latter, if you're the latter you've given up all that you've learned, and you turned to luck.
Confession: When I first started trading I was greedy. Every trade I made my exposure was too great whether it was a good trade or bad. After making these errors for months it finally hit me... to trade long term, defense is just as important as offense. Offense propels you forward, but with defense you can't ever go backwards. This reconstruction brought me to another level.
-Millennial Mark
Hi, great post, have followed you. What do you think of the current state of the Bitcoin market?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@cryptoissweet Thank you! As you know bitcoin went on a massive bull run in 2017, and all though its price is down 50% + from highs it has still returned over 1000% past 12 months. I expect bitcoin to trade sideways as the market consolidates. It could take 6 months or 18 months, too early to tell but it usually is on the longer side. A key thing to watch is what effect newly introduced Bitcoin Futures has. Futures tend to cap things within a range. Personally I'm waiting to catch the next great bull run, I'll ignore the +/- 20% volatility in both direction. :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit