Confidence is very important

Dec 29, 2020 at 15:02
2,351 Views
52 Replies
Member Since Jul 20, 2020   399 posts
Oct 18, 2021 at 07:02
REB_FX posted:
UweMoench posted:
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.

Unfortuantely this can not be taught, the ones who learn from the mistake and perservere are the ones who will succeed.

Really true, i think the most important word is 'perseverance' it is about not giving up and sometimes your confidence will be low and other times high but as long as you say to yourself im not quitting youll get through it
Member Since Apr 21, 2021   12 posts
Oct 18, 2021 at 08:34
Of course, without confidence there will be no success. This is one of the basic necessary emotions. The main thing is that it does not develop into pride. It can hurt.
Member Since Aug 05, 2021   401 posts
Oct 18, 2021 at 12:47
If you focus on self-improvement profits usually follow.
Member Since Jun 16, 2020   57 posts
Oct 20, 2021 at 06:37
Confidence plays a very important role in trading because your trading decisions are influenced by emotions. If you’re not confident, you are likely to mess up your trades.
Member Since Aug 21, 2021   61 posts
Oct 20, 2021 at 12:07
Tradextol posted:
Confidence plays a very important role in trading because your trading decisions are influenced by emotions. If you’re not confident, you are likely to mess up your trades.
Exactly, confidence plays a very important role in the forex market. I do think that once a trader is skilled enough and has sufficient knowledge then confidence ultimately arrives.
Member Since Nov 30, 2019   20 posts
Oct 20, 2021 at 16:37
It's kinda difficult to imagine trading activity without confidence. If you're not confident, then it probably can lead to uneplasant consequences such as blowing deposit and something like that. I guess that confidence can be also developed during trading activity. If you understand that you're lack of confidence, then just try to overcome it. It's not easy, but you should dedicate some time to it. Less-confident people always make some serious mistake because they start raging and stop control their emotions. When you're confident you can rationally evaluate the situation and make a right choice.
Member Since Jul 03, 2021   18 posts
Oct 21, 2021 at 05:56
Yes definitely its important, its required to invest your earnings in the market.
Member Since Oct 19, 2021   18 posts
Oct 21, 2021 at 08:01
In trading, I believe confidence translates to executing your trading plan each time the opportunity presents itself. Without hesitation. Without second thought.
Member Since Jun 09, 2021   44 posts
Oct 29, 2021 at 06:17
Confidence and patience are the two most important tools for successful forex trading. Without confidence, people will make hasty decisions, which will lead to losses.
Member Since Jun 19, 2020   38 posts
Nov 10, 2021 at 04:29
Trading can break you if you don’t have the confidence to withstand the stress and pressure in the market. I think the biggest advantage of being a trader is that you are the one who needs to decide when to enter the market and when to exit. If you are not sure about the trade, just don’t open the position and if you think things are not working in your favor you can exit. Knowing that the power is in your hands can keep traders confident.
Member Since Jun 07, 2021   72 posts
Nov 23, 2021 at 05:43
You have to withstand pressure in the markets. It’s very simple: if you lack confidence, it is unlikely you'll be able to accomplish your target of being a successful trader.
Member Since Jul 20, 2020   399 posts
Nov 23, 2021 at 08:12
whitneytyler posted:
You have to withstand pressure in the markets. It’s very simple: if you lack confidence, it is unlikely you'll be able to accomplish your target of being a successful trader.
I think this is true to an extent i think its more experience that everything will be okay even if you have a loss. It is all part of the game. It is sometimes easier said than done as saying you can deal with losses and seeing red after red are two different beasts altogether. I think experience and confidence in your system are the secret sauce
Member Since Jul 19, 2020   751 posts
Dec 09, 2021 at 07:01
@skihav yes confidence is one of the main thing in trading. If you can't believe you can do it, you won't be able to do it. No matter what you try.
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