Greed is Good!

Discussion in 'Psychology' started by Trend Fader, Sep 24, 2002.

  1. Interesting observation regarding greed... traders say that one should not be greedy and take profits when you can.. not when you have to.

    From speaking to some top traders... many of them have made the bulk of their money trying to catch the big fish as opposed to taking small profits here and there. Its the greed that made them hold on and make their big gains.

    Greed is what makes the big money, contrary to the old trader myth?

    If you are not greedy how do you really make the millions? Scalping stocks here and there for little profits.. or keep on trying to catch that one big fish.

  2. Cesko


    Every single trading adage is relative!
  3. Carboxyl


    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 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.