Who this is for — When a profitable trade "needs to give more" and you turn +1R into −2R. Greed is the emotion on the winning side — symmetrical to fear on the losing side.
Greed makes you hold positions beyond the take-profit, increase trade-size after a winning streak, ignore the risk-reward-ratio, and believe the market "must" reward you further. It often follows euphoria and precedes overtrading.
In plain terms — You are right about the entry but wrong about the exit because you want the maximum possible. Over time, exits matter as much as entries — a +3R left to become −1R is a process error, not bad luck.
Typical behaviors
| Behavior | Risk |
|---|---|
| Target moved "just a little higher" | Profit evaporated on reversal |
| Size doubled after a win | Next loss hits much harder |
| No partial exit | Emotional all-or-nothing |
| Ignoring the plan | plan-adherence = no |
Example — Long with target +2R at €110. At €109 "just one more point." Price pulls back to €105 and you close at +0.5R frustrated — or worse, below break-even. Greed is not "wanting to profit": it is refusing to accept a good result as defined by the plan.
Antidotes (Bronze)
- take-profit written before entry.
- Record wins in the trading-journal with the same honesty as losses.
- After two wins in a row: do not raise percentage-risk "because I'm hot."
- Link to r-multiple: a respected +1R beats a hoped-for +3R that turns into a loss.
Card
- What it is: excessive desire for profit that distorts exits and size.
- When to recognize it: after win streaks, in strong trends, with reverse FOMO ("I don't want to exit").
- Typical mistake: moving the target every time price approaches it.
Bronze path — Module: Basic psychology. Part of bronze-path.