Greed is a strong motivator. Without greed, you wouldn't have the courage to buy stocks. Especially penny stocks, right?

Greed wakes you up in the morning and forces you not to give up. But sometimes that's why you take on too much risk.

The market will not bend to your will.

Sometimes it subsides immediately after a big win. You become bored and start to worry. Your greedy side has no outlet. So you take a deal you're not familiar with, hoping it will pay off.

Maybe you'll get lucky and your trade will go in the right direction. You zoom in and start to question the cost of exit. Why stop there? You want as much as you can get in the market.

But then the trend changes. Your emotions are not ready to accept the lost money. You didn't sell to the maximum and now you can't decide on an acceptable profit target. Your income is falling.

If you want to avoid psychological trading mistakes, you must be crystal clear about your intentions in the trade. Before you dive into the market, take a moment to reflect on your day today. Your score will thank you for it.