Jul 06 2021 at 04:31
Sometimes overconfidence is confused with confidence, and as a result, it has a detrimental effect on your trading results.
Jul 22 2021 at 07:02
Not just trading, overconfidence is not a right mindset in any field.
Overconfidence is one of the worst mindframes to take when trading. If you feel overly confdent you are bound to neglect the importance of considering risks and you will not be careful enough. The result will be that you either miss important indications and trends, act too quickly or rashly, and ultimately end up suffering losses.
mlawson71 posted:I would suggest trying to ask yourself every time whether you feel that this decision is safe enough considering the risks you can see and predict? Making this a habit could help. I like to do this myself.
Can you recommend any ways to overcome such overconfidence? Any practical advice?
mab8 posted:Overconfidence is very dangerous. You should be careful about your trading.
Overconfidence is one of the worst mindframes to take when trading. If you feel overly confdent you are bound to neglect the importance of considering risks and you will not be careful enough. The result will be that you either miss important indications and trends, act too quickly or rashly, and ultimately end up suffering losses.
Jul 27 2021 at 11:16
One needs a trading plan to stop over confidence. Reading that and sticking to it will stop over trading
At times, losses can be very good at lowering your confidence level. Moreover, sometimes it is very good.
Jul 28 2021 at 07:19
Never be overconfident trust me that burns more money and gives stress it is ever good for long run in trading
Aug 05 2021 at 13:40
Confidence is essential in trading. But don’t overdo it.
LyudmilLukanov posted:Yes, do not think that you will always win, you might lose and be prepared for it.
Confidence is essential in trading. But don’t overdo it.
Those who think they can work without usually lose a lot and get frustrated quickly enough.
There should be a line in everything, especially in terms of the emotional approach to trading.
Aug 18 2021 at 15:37
True. Doubting yourself and being too full of yourself can both wreak havoc on trading profits. I’ve experienced both. At first I was overly anxious and headstand, which caused me to lose out on a lot. Once I got better at trading I got a little too comfortable risking too much and lost a good bit, which was enough to humble me. I think the best traders find the balance between the two.
Over confidence in case of trading activity can lead to unpleasant consequences. For example, if you see that everything is okay you start to open positions chaotically and turn off your brain and logic. Everything because you think that you have started to feel the market and you can do everything and will be profitable.
Nevertheless it's not like that and often such behvaior on the market leads to blowin of accounts. Be careful with this thing.
Nevertheless it's not like that and often such behvaior on the market leads to blowin of accounts. Be careful with this thing.
Oh, is there this 'cool' project here too?
Overconfidence can lead a trader to make decisions that are careless, impulsive, and rash. These types of decisions can lead to the loss of money in trading; this is especially true in the Forex market because of its high volume and volatility. So, a trader should be careful to maintain control over emotions and let logic rule the actions rather than overconfidence.
shortant posted:such decisions are called wrong, and overconfidence leads to this, therefore, faithfulness in their decisions should be moderate
Overconfidence can lead a trader to make decisions that are careless, impulsive, and rash. These types of decisions can lead to the loss of money in trading; this is especially true in the Forex market because of its high volume and volatility. So, a trader should be careful to maintain control over emotions and let logic rule the actions rather than overconfidence.
Jul 04 2022 at 07:42
Mohammadi posted:Frankly, new ways of deception are emerging day by day and scamming by brokers is one of those. There is no way we can deny the significance of a broker as they act as a middleman. A scam broker is never supportive to traders so it should be avoided. So, this issue apprises us of selecting the right trading broker.
Overconfidence can still have our mistake in terms of loosening our trading or say that we might ignore or miss something that is significant. Still, too much in Forex will be bad and will not benefit a trader and these includes in both having too much confidence and lack of confidence.
Jul 05 2022 at 06:22
Mohammadi posted:Basically, Demo trading helps traders develop inner trading qualities and understand the market environment well & improving trading confidence. But today, demo trading is being neglected by traders just because they can’t feel its importance. Every single broker allows traders with a nice demo account which is given for practicing.
Overconfidence can still have our mistake in terms of loosening our trading or say that we might ignore or miss something that is significant. Still, too much in Forex will be bad and will not benefit a trader and these includes in both having too much confidence and lack of confidence.
I think overconfidence comes from lack of knowledge. Sometimes people enter the market thinking forex trading gives easy money and end up making mistakes. Real confidence comes from experience and knowledge only. So, we should try to develop the confidence that is possessed by a professional forex trader.
