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Confidence is very important
May 23, 2021 at 23:20
SteveHanks posted:Sarjohn posted:
Agreed, Confidence is very important in trading, And it comes with knowledge and practice only. Practice on demo and when you feel you are making consistent profit on demo then only shift to live trading.
Practicing on a demo account will help a trader to build his career with full of confidence.
Demo account like as first stage to exercise, but still good for training skills, it will depend on each trader how to treat the demo, if seriously I think it worth, and help, much in real trading which this is like an as real battle, which already involved all things, psychology, strategy, risk and money management.
Member Since May 19, 2020
321 posts
Sep 09, 2021 at 10:31
I see no reason to start trading without confidence in a system. If you don’t believe, then don’t do it, come back when you’re confident and practice until every planned trade and every action is saturated with confidence.
@Marcellus8610
Sep 09, 2021 at 14:54
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.
Member Since Dec 11, 2020
7 posts
Sep 09, 2021 at 18:55
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.
Sep 09, 2021 at 23:01
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.
Member Since Jun 14, 2021
51 posts
Sep 10, 2021 at 10:03
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
Member Since Aug 31, 2021
4 posts
Sep 10, 2021 at 10:54
For Trading psychology and Disciplined behavior, you must make trades automated. this resolves the problem.
Member Since Mar 16, 2021
447 posts
Sep 11, 2021 at 01:06
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.
Member Since Jun 14, 2021
27 posts
Sep 13, 2021 at 06:31
@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.
Sep 13, 2021 at 20:02
Confidence is much more important that one can think about it. There should be a real balance. If you would be very confident then probably you can come to overtrading or dump your deposit. If you would be less confident you can also lose all your money. That's why I guess that everything should be in balance. Confidence lets us to feel free when we decide to open a deal or not, when we understand that there are some opportunities to earn money or there areno such ones. Nevertheless, if you have no confidence in trading you can always improve this trait at least in this activity, in life it will be much harder.
Member Since May 19, 2020
321 posts
Sep 14, 2021 at 10:57
necolesilvers posted:
@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.
...at the same time, beginners should be wary of false assumptions, after the very first initial successes. It is important to take into account the stability factor and readiness for each possible scenario of the market movement. Brain and skill training builds confidence through knowledge.
@Marcellus8610
Member Since Sep 27, 2021
4 posts
Sep 27, 2021 at 09:51
There is always a need for confidence, but it should not be excessive. Before opening a deal, you should fully rely on your trading strategy.
Member Since Aug 10, 2021
172 posts
Sep 27, 2021 at 14:32
Confidence is so important in your trading, confidence is believing in yourself, being comfortable in your true self, and knowing you have value. Having confidence makes people trust you, and you will also succeed easily. It is confidence that attracts success. When you have good self-confidence you make good decisions in trading, and as a result you are successful in the forex market. So make sure that you develop a high level of self-confidence by learning forex.
Oct 07, 2021 at 18:15
Confidence is important if you have a good trading strategy. However, if you are new to trading and don't have a reliable trading strategy, you should be skeptical about all your thoughts and never risk too much. So, confidence is important but overconfidence is detrimental.
Oct 14, 2021 at 18:29
Confidence is important, of course, however it's a real art to have an ability not to be too confident. There is a border in this case and I believe that if you're too confident, then, probably it can turned out bad for you, as well as if you're less confident, it might also turnde out bad for you. Trading is such an activity which don't like confidence, thus you should be pretty careful with it. You should be confident in your satrategy, knowledge and skills, but never be sure that you win a particular poisition, always rely on your personal skills and strategy, otherwise you will never see win positions actually.
Oct 14, 2021 at 23:22
Yes, of course, confidence is important, if forex market like a girl, you as the guy should be confident to make approach the girl, but the confidence should in fair level, don't overconfidence because it will drop your reputation, women will like to you as natural guys, if likely one girl rejects you, still there are so many another girl waiting for you, market forex remains there, one day get fail still many chances on the future, just need to make efforts and try again.
Member Since Aug 10, 2021
172 posts
Oct 15, 2021 at 01:39
It is important to have confidence in yourself while trading and Forex since your trading strategy is based on college and business skills and you are able to make good decisions in a very short period of time which earns good profit for you.
Oct 17, 2021 at 16:14
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.
