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Confidence is very important

AliaDare
Sep 09 at 14:54
703 Posts
Akasuki posted:
Yes confidence is the key to success. But some people get overconfident. Real confidence comes from knowledge and skills. If you have enough knowledge and skills you will feel confident.

Exactly, skills and knowledge are needed to build confidence. You can never make a profit without this positive thinking. Positive Thinking is about building confidence by building skills.

DarKenshill
Sep 09 at 18:55
6 Posts
I do support the idea that confidence is important in trading, however, it may come not only from expertise and huge knowledge, but also from nothing. I am talking about overconfidence which appears when a newbie watched some videos about 'rich teens who made millions on binary options'. So, such confidence comes from the wrong perception of the markets and trading itself.

Suradi (FXOday)
Sep 09 at 23:01
174 Posts
Yes, confidence is important in forex trading, and also trading with calm minds also better than panic, because when trade face panic, usually they will rush in decision making and messed up a trading plan, but overconfidence is not good because maybe it will leading traders to become reckless in decision making with taking higher risk.

smith_fx
Sep 10 at 07:31
33 Posts
The confident and disciplined mindset plays an extremely important role in traders' success.

marindateal
Sep 10 at 10:03
53 Posts
Unellene posted:
confidence should be in your every action, if there is no such, it means that there is no understanding of what you are doing, as practice shows

There is very little c confidence can do if the trader doesn't have a proper knowledge about forex trading. I could be very confident but still know nothing about trading. Would that help? I don't think so. Confidence is only helpful only when the trader has the required knowledge and has practiced his trading strategies time and time again.

forex_trader_[2590991]
Sep 10 at 10:54
6 Posts
For Trading psychology and Disciplined behavior, you must make trades automated. this resolves the problem.

skihav
Sep 10 at 18:11
380 Posts
I can only say that this is a really important aspect that should be paid attention to.

LukeRachel
Sep 11 at 01:06
397 Posts
FXOday posted:
Yes, confidence is important in forex trading, and also trading with calm minds also better than panic, because when trade face panic, usually they will rush in decision making and messed up a trading plan, but overconfidence is not good because maybe it will leading traders to become reckless in decision making with taking higher risk.

All is well, trading requires confidence. But I can't be overconfident again.

Unellene
Sep 11 at 15:49
283 Posts
well, it is clear that without knowledge and confidence there will be no

necolesilvers
Sep 13 at 06:31
28 Posts
@MarcelDurham I agree with you. Quite often an ill-prepared person is the least confident. It is good to practice and work on improving your skills so that confidence may never leave your side.

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