Overconfident

Jun 04, 2018 at 11:08
Vues 3,891
87 Replies
Membre depuis Dec 06, 2017   posts 21
Aug 12, 2018 at 05:26
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson
Membre depuis May 20, 2011   posts 8
Aug 12, 2018 at 12:42
Was that a demo or live?
nasrul_poyo
forex_trader_458816
Membre depuis Sep 11, 2017   posts 124
Aug 13, 2018 at 08:23
In Forex trading, u should put away your thought that your entry would be perfect and sharp entry.
Just think, if so many of us thinking like u, sure many unregulated brokers are close down now.
Too many having perfect entry 😂
Membre depuis Jul 26, 2018   posts 9
Aug 13, 2018 at 10:24
I would settle for an imperfect entry as long as I got the direction right. Just knowing that I could make 50pips a week every week would be incredible for me
Membre depuis Jul 27, 2018   posts 10
Aug 13, 2018 at 14:42
I find that I get direction right but the stop loss wrong. So if a go Long with a stop loss of 20 pips the price will fall 25 pips and then reverse and head upwards :(
Membre depuis Feb 22, 2011   posts 4862
Aug 14, 2018 at 10:17
It is easy to become overconfident when you are lucky and make a huge pile of money
But is is even easier to lose it that way.
Membre depuis Aug 16, 2018   posts 11
Aug 16, 2018 at 10:50
Back4Good posted:
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson

When you didn't find the solution, lesson is the one. And if you don't want to go wrong in the first place, catch the valuable advises as much as you can. :)
Membre depuis Feb 22, 2011   posts 4862
Aug 16, 2018 at 11:00
Back4Good posted:
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson

You have to have good trading plan
You have to stick to it.
Was the trade size increase part of your trading plan, it was not, right?
Membre depuis Sep 01, 2010   posts 10
Aug 17, 2018 at 00:52 (édité Aug 17, 2018 at 00:52)
Back4Good posted:
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson
you are very much placed to be successful buddy. keep going and sure you have really learnt your lesson
Membre depuis Sep 01, 2010   posts 10
Aug 17, 2018 at 00:54
Szabolcs1985 posted:
I would settle for an imperfect entry as long as I got the direction right. Just knowing that I could make 50pips a week every week would be incredible for me
perfect mindset.
Membre depuis Aug 09, 2018   posts 10
Aug 27, 2018 at 07:23
Back4Good posted:
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson
Experience teaches a lot.
Membre depuis Aug 29, 2018   posts 6
Aug 29, 2018 at 10:44
Abdielfx posted:
Back4Good posted:
I became over confident after an awesome week trading. I then increased by Lot size to 1.0 Lot thinking I was going to be a millionaire soon but the markets thought better. I lost a lot. I ended up revenge trading and losing my whole account. Sad times but a useful lesson
Experience teaches a lot.
Better than anything else, in my opinion
Membre depuis Jun 19, 2018   posts 10
Aug 29, 2018 at 10:47
Continuous education plus experience is the key to getting Forex right. No guarantees you will but without that you will definitely fail
Membre depuis Jan 18, 2010   posts 17
Aug 29, 2018 at 11:53
Dandelion posted:
Continuous education plus experience is the key to getting Forex right. No guarantees you will but without that you will definitely fail

agreed with that... learning never ending... lot of education needed to beat the market...knowing your self...your emotion...controlled it...do a consistent is the key in the forex 😀
Candles always right
Membre depuis Aug 16, 2018   posts 11
Aug 29, 2018 at 11:55
Dandelion posted:
Continuous education plus experience is the key to getting Forex right. No guarantees you will but without that you will definitely fail

Very true. Continuous education is more like a theory part which is pretty boring. But if done continuous learning with continuous experience, it becomes interesting plus knowledge is growing fast and may become good trader if strategy + logic + management is good.
Membre depuis Oct 09, 2017   posts 23
Aug 30, 2018 at 06:41
Overconfidence is dangerous.
Trading without knowledge is even more so.
Just ask me. 😳



Fichiers joints:

Membre depuis Jul 26, 2018   posts 3
Aug 30, 2018 at 08:28
estraub posted:
Overconfidence is dangerous.
Trading without knowledge is even more so.
Just ask me. 😳


Right. No knowledge and incomplete knowledge both can be detrimental to our trading prospects.
Membre depuis Aug 31, 2018   posts 12
Sep 02, 2018 at 06:12
Overconfidence can be fixed by using a strict trading plan. I insist that my Lot size is a fixed percent of my account. This means that I won't go crazy after a good week
Membre depuis Aug 05, 2019   posts 50
Aug 12, 2019 at 09:34
Don’t get influenced by the results of current trades and events and ignore the past information. This thing will be problematic if your trading is affected by your fixation on your current winning or losing trades.
Membre depuis Feb 22, 2011   posts 4862
Aug 12, 2019 at 11:26
There is no easy way to consistent profit.
I see it quite often. At the start of trading beginners luck, making 10, 20 or even 50% a week.
Trading on demo, being relaxed, trying to apply the same approach to real trading, failing to do so,
losses as results and panick.
I love my trading robots whose allow me to avoid all that :)
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