🔴 Greed is one of the psychological states that most traders must go through, as we say, all traders of all types and different experiences, and if the person does not control this feeling, the results will certainly be disastrous, and he will undoubtedly lose many of his assets and a large part of his capital.
👈 Definition:
♦️➖️♦️➖️♦️
Greed is exaggerated greed such that the trader seeks to make profits that are not within reasonable limits, and the results are often disastrous as they are contrary to the trader’s expectations.
There are types of greed that lead to greed, which I will summarize as follows:
⬅️1- Greed for imaginary profits:
This feeling occurs when a trader is greedy for the price of a particular currency to rise to levels that are not reasonable, and as a result he loses the opportunity to profit at very reasonable prices. In many cases, the price drops suddenly to low levels, and the trader feels remorse, as regret is of no benefit to him.
⬅️2- Greed for quick profits:
This feeling is mainly associated with one of the types of trading in which the trader resorts to borrowing or using financial leverage at high levels, so the price fluctuates in the opposite direction than expected, and the greed for quick profit becomes a holocaust of money that comes to nothing.
⬅️3- Greed for quick gain:
Many digital currency collecting enthusiasts resort to searching for a source to collect free coins by participating in airdrops that distribute coins for free. Here, fake projects and scam currencies abound, and what is more dangerous than that are the many fraudulent links that their owners resort to promoting on famous platforms, the goal of which is It is stealing people's money using these scam links. Therefore, extreme caution must be taken when clicking on these links that cause the trader to lose money quickly and unexpectedly.
Finally, the wrong perceptions that many traders have about trading make them covet imaginary profits that are far from the real reality, which makes these traders closer to loss than profit, contrary to what they think.
❤ Please, not an order, like and share to encourage me to give more ❤.