About Greed
Today I discovered a pretty interesting video from Michael Covel (Author of: Trend Following) about Greed. In it he wonders why this attitude is usually seen so negatively. He takes the standpoint, that greed is a good side of human behaviour. And I can only agree with this!
Cause from greed awakes the desire to achieve something. And if you really want to achieve something you have a goal and that’s very motivating.
If someone e.g. discovers that he truly wants to reach something in live or wants to own something special he gets greedy about that. And it will motivate him to work hard in order to achieve this goal. And having goals is a good characteristic, isn’t it?
But don’t forget that there is a fine line between greed and being bad and doing illegal things. Covel points out that this isn’t what you should understand as greed!
Like we said before in this Blog. As traders we are basically dealing with two emotions: fear and greed. (Read: You can feel the market - and you should )
So you should make up your mind about these two emotions that have the ability to let markets rise and fall.
You can read more about it at Michael Covels Blog: www.michaelcovel.com
And the video: Greed Is Definitely Good