I think it's a balance of greed and fear for lack of a better word...too much fear you take profit too early instead of letting your profits run, too much greed you waited too long and may even take a loss instead of profits...so a discipline and experienced trader would know when to take profit at the right time to maximum profit potential and minimize risk...that balance is what makes trading so hard I believe.
Could it be possible for man to overcome these psychological tendancies? Is it really possible for man to eliminate total fear, greed, hope, etc, or would it be feasible for man to learn to have that balance that was mentioned at an earlier post? Andy
Greed, don't have it, never had it, wouldn't know what to do with it if I did have it. I've got everything a man could ever want, and I think I always did, and I know I always will.
I think that's a very good question, that I don't have the entire answer to. I'd start with this: greed: Kozlowski, Ebbers, Boesky, etc. (with all due respect and deference to what may be untold stories); sound business: Gates, Buffett, Mark and Joe Ritchie, etc. Whether trading or making furniture, it's all about what one sees as ones function, purpose, or contribution to the business community and society at large.
Greed is the desire to have more than you need, or more than what's good for you. Greed and ego are the enemy of the trader. Runningbear
In a sense of how you guy define greed. Greed is bad. I will be contradicting myself with this statement but I think trading successfully will cause excessive profits. What do you think? Another story is from martial arts. You practice to become stronger but at some point you to let go of seeking physical power(in martial arts, it's not muscles). That's the first step toward enlightenment. I practice martial arts and haven't reached that point but reading those books have given me good metaphors for trading. Enlightened martial artists(from books) seem to get to the point of asking themselves quesion like: Why do I have to so strong? Why do I have to think, "Yeah, I can beat your ass!"? Here's a friend, were having fun and I'm thinking, he can't beat me up? He's a friend... not an enemy! Sheeshh... Why am I so damn small as a person? I guess it starts there and they end up realizing it's all about love. These are stories about martial artists, long time ago, not Catholic stuff. Don't ask me why it's love. I don't want to start a series of posts about love. But interesting stuff.