Will you be a millionaire if you are greedy ?
Is it worth to be greedy or not ? This is the question. Let me explain how i see this.
Warren Buffett once said that as an investor it is wise to be “Fearful when others are greedy and greedy when others are fearful.” this statement is related to stock markets, but also in our daily life is worth to have this statement in ours minds when we makes some decision not only related to stock markets or cryptocurrency markets, but as my steemit is about cryptocurrency and investments I would like to describe greed on examples of Trading at crypto markets.
Right , let’s Begin the story of Jack ( Jack will be the hero of this story)
Jack was the person who always wanted to be rich, one day somewhere he heard about bitcoin but it wasn’t what made him interested so he didn’t bothered about that. Time been going so quick and he heard again about bitcoin, about some cryptocurrency and that the people making a huge money in quick time. And so... he checked what is it, how the people made huge profits in not long time, the have bought nice cars, they quit job, and became own bosses. That was what he always wanted: have good car, do not work for anyone, being a boos, work whenever he wanted. He shout out – this is it, not thinking too much he read some articles how to invest, how to open account at crypto exchanges etc. Jack invested his money – around 1000$ It was almost everything what he saved as his payment as a warehouseman was not so high, so he spent money on current basis. He invested in some ico project which been recommended for many people from crypto world. After 2 months from his investment the price of project rises up 10 times, so now he had 10000$, been so happy how easy and how fast he get ten grand’s. Jack still been working as a warehouseman, so he saved some small amount, he didn’t invested that money, but decided to left the job as he was felt that he can earn money quick and no one’s keep telling him what to do and when. Happy men when he gets back home after he told his boss that he’s leaving, invested whole sum of 10000$ in another project. Jack was lived very sparingly as he has not a lot of savings after he left his job. After one month his money multiplied 5 times so now he had 50000$, found 3rd project and decided to invested everything as he knew that when it rise 5 or 10 times he will have lot’s of money and then he will cash them out, but unfortunately that project turned out as a scam and he lost all his money which he can cashed out earlier and invest piece of that sum, but now he had nothing, he left just only with the last 200$ which left from his savings and also without job.
What is the moral ?
Jack wanted to make money too quick, it doesn’t mean that this is bad, but the problem is that he was to greedy, because he saw huge profits in quick time, it blinded him reasonably thinking. Don’t be as greedy as he was – use your brain, if you make some profit – cash out 70/80% of that money and invest rest of it, if something went wrong you still have got some money, otherwise you’d be like Jack.
Remember to always think reasonably, you always need to imagine bad scenario (what I do if..., what should I do to avoid...)
e.g (cryptocurrency, stock markets, etc)
If you invest 1000$ and you make profit 10x
So you have 10000$ - invest 2/3k and cash out the rest, if your another position of ICO project, stock, coin, token, whatever - brings you profit, cash it out, and then you can start thinking if it’s worth to rise up the sum of investment or better and safer to stay with 2/3k$.
Jack our hero is not me, is not my colleague- is unreal, he’s been invented especially for this story, but people like Jack are exist at this world.
And so... at the end of this story, will you be a millionaire if you are greedy? I’m not saying if you’d be greedy you always fall, but in my opinion and also my experience for some people is better to not be one of that person, because it might lead to unpleasant situation, everyone is different, and one person who’s lost his savings, his money or anything what is worth for him, he will not give up, but some people are not strong enough which may cause depression, refraction or even something more unpleasant.
However, a good amount of greed is always good as it will help you achieve what you want, and do better in life. Greed will be your adrenaline and help you keep going to do what you want, even though it may be hard.
You need to know how to be a GREEDY and how to control it to, not overdo it 😊
I wish you all the best.
Check my steemit as new content will be uploaded daily, also I will put my story how I lost not huge amount because of being greedy 😊
Check out why cryptocurrency market going down:
https://steemit.com/china/@thecryptochannel/cryptocurrency-why-bitcoin-and-altcoins-prices-dropped-china-ban-chinese-new-year-panic-sell-explanation
Thanks.!