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How do you control your greed - practically

I am still trying to control my greed. When the setup goes into the direction I planned it to, I do get greedy.
Any advice anyone? I mean practically, down to earth strategies that worked for you - I do not need no paragraphs or CHATGPT generated responses, thanks in advance.

hello, it comes with trading experience, it comes with discipline when i become greedy or lose i turn off my pc walk away, the tough part is dealing with the thoughts of "revenge trading" or thinking about how much money i can make from it, its really tough but we just have to sit on our hands untill it passes then we can enter into the markets. what helped me was understanding that sometimes the best trade is not taking one at all, think about that for a second...


imagine if we didnt take that greedy trade our account balance would be normal how it was before we greed traded. If we are greedy and risk alot and win are we trading properly like how we want to? sometimes we win but it goes aganist our plan, its this really a trader? no. try think like hedge fund manager... if we are managing someone elses wealth via a fund, would it be appropriate to do this.. hell no
I control it by using an EA .. Totally emotionless
Im only here for the Guzzoline...
Alright, here is my honest advice for you. Just set up clear take profits, and your greed will fade away quickly. I抦 an intraday trader myself, so when I抦 in longs I place my take profit to the NEAREST highs or 1:2 RR fixed, that抯 it. No need to open a trade and guess where to close it anymore.
Why are traders greedy? Because they hold positions, see it抯 giving profits and want to hold it more and more, but the solution is to set clear profit targets. So, each time you enter the trade you must know when you need to leave it. To not check where the price is manually every 5 minutes, just set up take profit and stop loss orders. That should solve your problem.
The only thing that worked for me was a daily stop and a daily target with a hard walk away rule. If I hit either, platform closed and journal opened, because after that point greed speaks louder than my plan
Use limit orders. When you set them in advance, the plan is already made and emotions don抰 get to interfere. Price either hits your level or it doesn抰. You just let the market run.
Greed is an emotion that grows when you feed more into it. By staring at the charts 24/7, you're simply feeding into your greed each minute you spent staring at those charts.

Solution? Mark down your price zones that you are interested in trading, set up price alerts when price goes to your intended range, setup a timer for 30 minutes, if price action behaves according to your strategy, enter a position, setup the ideal SL and TP, close the charts and setup another 1 hour timer before looking at the charts again.

Counter your inner desires of seeking out more entry opportunities by doing other things that provide your with alternative sources of dopamine, like go grab your favorite dessert, or play a game.

Hope this helps, and always remember that trading is a marathon, not a sprint. Please, for god sake, don't risk more than 3% of your total capital in a day. If you like to open multiple positions and scalp, divide your total capital risk % from 3% into 0.3% positions and you can take up to 10 positions if you wish.

All the best with your trading journey

SIA
greed is a hard challenge at first due to lack of experience within the market and excitement of new opportunity
rule of thumb, I always use risk management, this would talk to your psychological being and lastly money management, the discipline of how much money are you willing to loose.
journaling every trade and the emotional ride would be the practical for a rookie
Hi TNTvak. I totaly agree, I hate AI robotic answer too. I am Japanese, moving to Chiang Rai, Thailand now. Life is slow here, but my fingers still fast to click buy button when I see green candles... it is my bad habit.
My practical way is "Khao Soi rule". Khao Soi is my favorite Thai noodle, cost maybe $1.50. When my profit can buy 10 bowls of Khao Soi, I just shut down my laptop and go to local market. If I stay in front of PC, I always think "Maybe I can buy 100 bowls!", then market take back everything. Small profit is enough for living in countryside. I keep my daily target very small, then greed cannot find me.
What helped me most was deciding the take profit and the invalidation level before entry, then letting the trade play out without tinkering. A simple rule like partial close at 1R and moving stop to breakeven can reduce the urge to overextend winners