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Overconfident
Anggota Sejak Jul 20, 2020
298 pos
Oct 23, 2020 at 02:22
Anggota Sejak Jul 20, 2020
298 pos
When a trader makes a consistent profit, he is seen as overconfident. That confidence often leads to trading losses. Forex market of possibilities so it is never possible to trade with 100% target here. If ever an overconfident is created, meditation should be done. Meditation helps to overcome overconfidence.
Anggota Sejak Jul 19, 2020
318 pos
Anggota Sejak Jun 05, 2020
33 pos
Anggota Sejak Jul 03, 2020
37 pos
Oct 27, 2020 at 07:16
Anggota Sejak Apr 15, 2020
219 pos
Trading and confidence are directly proportional to each other, but just like excess of anything is bad, excess of confidence leads to incorrect decision making. For example a trader is tooooooo confident on his trading style and strategy, thus ignores all other factors and blindly flows its strategy. This could take a wrong direction as you should make your strategy flexible with changing market environment.
The more your practice, the more you learn.
Anggota Sejak Nov 07, 2020
25 pos
Anggota Sejak Sep 08, 2020
32 pos
Feb 08, 2021 at 12:05
Anggota Sejak Jan 21, 2021
48 pos
After entering the trade market, new traders become overconfident and jump directly into it. As a result, most of them face a massive financial loss. A common reason behind this is the lack of knowledge about the market.
When beginners become overconfident, they start thinking that they have become the forex expert. This kind of attitude is a big problem among newbies, rather they should analyze and spend time improving their trading skills.
When beginners become overconfident, they start thinking that they have become the forex expert. This kind of attitude is a big problem among newbies, rather they should analyze and spend time improving their trading skills.
Anggota Sejak Mar 17, 2021
536 pos
Apr 06, 2021 at 05:41
Anggota Sejak Apr 15, 2020
219 pos
An overconfident trader is aught to commit basic trading mistakes.
1. Lacks capital management
2. Doesn't pay attention to stop loss.
3. Fails to keep himself updated with market movements, events, news releases etc.
4. Doesn't backtest the trading strategy.
All these mistakes combined lead to disastrous trading.
1. Lacks capital management
2. Doesn't pay attention to stop loss.
3. Fails to keep himself updated with market movements, events, news releases etc.
4. Doesn't backtest the trading strategy.
All these mistakes combined lead to disastrous trading.
The more your practice, the more you learn.
Anggota Sejak Mar 29, 2021
9 pos
Anggota Sejak Jul 23, 2020
759 pos
Anggota Sejak Nov 03, 2020
65 pos
Anggota Sejak Feb 18, 2021
10 pos
Jul 22, 2021 at 11:27
Anggota Sejak Jul 07, 2021
41 pos
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.
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