How to control greed and manage risk in trading?

<p id="isPasted">Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders.?</p><p>Greed can very easily turn good trades into bad ones and bad trades into worse trades.&nbsp;</p><p>&nbsp;Greed and risk, are the two wolves on every trader's back. Taming them both is crucial for a sustainable and profitable journey. Here's the key: cultivate discipline like a gardener tends delicate blooms.</p><p><strong>Plan your plot:</strong> A trading plan guides your every step, defining entry and exit points, position size, and risk boundaries. Stick to it religiously, emotions be damned. This is your fence against greedy overreach and reckless plunges.</p><p><strong>Harvest small wins:</strong> Greed craves the moon, but celebrates the budding victories. Seeing consistent progress keeps you grounded and focused, not chasing unrealistic profits or clinging to fading winners. Mindfulness, like gentle rain, nourishes this perspective.</p><p><strong>Hedge against storms:</strong> Risk management is your sturdy walls. Set stop-loss orders, like automatic shutters safeguarding against unpredictable gusts. Diversify your portfolio, a sprawling orchard less vulnerable to single blights. Position size cautiously, ensuring no single trade can uproot your progress.</p><p><strong>Refine your craft:</strong> Review your performance regularly, pruning away mistakes and nurturing successful strategies. Seek knowledge like fertile soil. Remember, mastering these skills is a continuous process, so be patient, learn from your slips, and adapt. With time and dedication, you'll build a thriving garden of financial success, where greed and risk are mere whispers, not howling threats.</p>