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Confidence is very important

UweMoench
Dec 29 2020 at 15:02
751 posts
Confidence is very important. Confidence comes from knowledge and skills. Without proper knowledge and skills if anyone thinks he has lot of confidence, he can make money, then that's overconfidence. We should not be overconfident. Most of the newbies are overconfident. They focus on profit rather than developing skills.

LyudmilLukanov
Dec 29 2020 at 17:23
793 posts
True. You can build confident from demo trading. So, practice and test your strategy in demo account.

Seb King (sebking1986)
Dec 29 2020 at 17:26
362 posts
The over confidence comes from a position of ignorance and complaceny in my opinion. Learn as much as you can with practice you can be confident. Thinking you can go into the markets with a funded account without this at least is just arrogance.

If you can't spot the liquidity then you are the liquidity.
Stonesong
Dec 29 2020 at 19:07
128 posts
Confidence should be in your strategy, in your knowledge, in your behavior, in your dedication, in your discipline and ability to properly manage your funds

nincompoop
Jan 19 2021 at 09:04
21 posts
I agree with you. Overconfidence can ruin a lot of trades. It is important to work on acquiring knowledge in order to stay confident.

Kazile
Feb 04 2021 at 08:53
119 posts
It is very important not to confuse confidence and overconfidence, because they are two different things, and if confidence gives you an edge, overconfidence will have a bad effect on trading.

MichaelEX
Feb 08 2021 at 11:22
48 posts
I agreed. Self confidence naturally helps you to become stronger and stronger over time. It comes from knowledge and experience, if you want to trade without fear or hesitation you have to build confidence first.
Some newbies jump into trading with a little idea of it or after winning a few trades and in the end, they lose their money.
This is overconfidence, people are in this market for a long time and are still learning. First, acquire good knowledge and real experience
and then start trading.

AliaDare
Feb 14 2021 at 13:10
788 posts
It is never possible to consistently gain profit without trading confidence. So every trader should trade with a positive mindset.

Michihito
Feb 16 2021 at 07:48
298 posts
One of the other major mistake is over leverage and over confidence. A newbie can blow up after having hundreds of winning trades and but one disaster trade. Also, lot of newbies have tendency to fight with forex market instead of trading the market like smart money do. They have no chance of wining the fight.

robindude
Feb 16 2021 at 11:40
107 posts
Confident is very important but overconfident is very bad.

gookerjohnson
Mar 06 2021 at 04:13
18 posts
Yes, confidence does come with knowledge and skills about trading. A well-versed trader would have a completely different attitude and confidence for trading better.

Tremblay
Mar 06 2021 at 09:45
330 posts
It is difficult to make a profit as long as trading skills are not developed. If you want to make a profit consistently, you have to give up emotions and follow money management. And 1: 2 risk rewards must be maintained and traded. Must do regular meditation.

sailingconsist
Mar 12 2021 at 12:25
33 posts
Tremblay, a 1:1 risk reward ratio is also fine sometimes particularly for beginners since they’ll be risking the same amount as the potential gain.

sipriches
Mar 12 2021 at 13:11
4 posts
sailingconsist posted:
Tremblay, a 1:1 risk reward ratio is also fine sometimes particularly for beginners since they’ll be risking the same amount as the potential gain.

Same amount of winning and losing trades is no doubt better than losing the money entirely. While with a 3:1 ratio, you might lose two trades and win one, but shall still make profits. It’s all about the strategies you use.

LeviSievwright5
Mar 13 2021 at 01:10
298 posts
It is very important to think positively to gain profit. In this case, you have to be confident but not overconfident.

DanielGlaus
Mar 13 2021 at 18:55
26 posts
Trading requires a lot of discipline. Profits are not possible in trading without discipline. Trading is a very risky business and you need the discipline to survive in this risky business.

LeviSievwright5
Mar 14 2021 at 01:37
298 posts
It is never possible to make a consistent profit in trading without being confident. There is a power in man that is expressed through confidence.

kendrglover
Apr 03 2021 at 03:44
11 posts
Yes, confidence is the key to achieving your goals and making some money in forex.

SofieAndreasen
Apr 23 2021 at 14:47
759 posts
It is true that confidence is necessary for trading. But over confident can also bring ruin.

AliaDare
Apr 23 2021 at 17:09
788 posts
kendrglover posted:
Yes, confidence is the key to achieving your goals and making some money in forex.

When a trader makes a consistent profit, he becomes overconfident. Overconfident should be eliminated by controlling emotions at that moment. And trading plans should be made with confidence. It is possible to trade professionally.

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