Greed one of the most common problems that many investors face . Greed makes alot of investors to make wrong judgement of whatever they want to invest in are investing , and this leads to a massive loss for the investor . if you know you want to be a long term investor , then you need to learn how to mange your greed and make sure you stay away from it , these tips can help you avoid greed.
Greed flourishes when there may be no direction.
Ask yourself:
if you are are investor and you have goals e.g saving for your retirement , or building your own house etc..this would make have a higher chance of staying away from ponzi schemes that could hurt you.
Create a stable funding plan—and observe it with discipline.
Whether you choose long-term price investing, index funds, dividend stocks, or dollar-cost averaging, don’t abandon your layout simply due to the fact some thing all at once appears extra “exciting” or “fast.”
Greed makes alot of people to chase unrealistic goals but what you need to succeed as an Investor is that you should be consistent and you should avoid making impulsive decisions on your investment all the time.
Just like the saying which says that If it really do sound too excellent to be true—then it is probably not true..
Most of the scams that goes on often work faster on Greedy people , the operators take advantage of greed from alot people by offering them very large unrealistic returns for their investment hence making the Greedy to investors to invest massively into the ponzi schemes.
But knowledge replies: "Better to develop gradual and consistent than to upward shove quick and crash hard."
Investing is emotional. But don’t let your emotions force decisions.
Greed says, “Buy more—it’ll hold going up!”
Fear says, “Sell now—you would possibly lose everything!”
Train your self to respond, now not react. Breathe. Step back. Review your graph earlier than making any move.
You should not only focus on your huge win , you should also give attention to the clever decisions you made.
Instead of asking, “How tons did I make today?” ask, “Did I observe my plan?”
Reward your self for staying patient, warding off needless risks, and making trained choices. e, these are actually the true victories.
Greedy buyers regularly cease up with painful stories.
Study them. Read about the dot-com bubble, the 2008 crash, crypto collapses, or even buddies who misplaced the entirety on hype investments.
Greed is in no way satisfied—it constantly wishes more.
But when you’re grateful for what you already have and what you’ve earned via knowledge and patience, you increase contentment—and that kills greed.
Take time to mirror on your progress, even if it’s slow. Every step forward is nevertheless growth.
“Greed makes you gamble. Wisdom makes you grow.”