Greed is a cunning emotion that a sophisticated investor should know how to manage. Greed often leads to too much conviction. It nudges to buy near or even at the top.
When a trader is greedy, he tries to make too much profit and deviates from his strategy. Greed deprives a person of the ability to think soberly and objectively, he does not get out of the trade on time, and neglects adequate risk management. All this can lead to losses.
Therefore, always stick to your trading plan, even if you think that it is not overly profitable. Of course, this advice is relevant if you are confident in your strategy.
