Confidence is very important

REB_FX posted:

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.

Really true, i think the most important word is 'perseverance' it is about not giving up and sometimes your confidence will be low and other times high but as long as you say to yourself im not quitting youll get through it

Of course, without confidence there will be no success. This is one of the basic necessary emotions. The main thing is that it does not develop into pride. It can hurt.

If you focus on self-improvement profits usually follow.

Confidence plays a very important role in trading because your trading decisions are influenced by emotions. If you’re not confident, you are likely to mess up your trades.

Tradextol posted:
Confidence plays a very important role in trading because your trading decisions are influenced by emotions. If you’re not confident, you are likely to mess up your trades.

Exactly, confidence plays a very important role in the forex market. I do think that once a trader is skilled enough and has sufficient knowledge then confidence ultimately arrives.

It's kinda difficult to imagine trading activity without confidence. If you're not confident, then it probably can lead to uneplasant consequences such as blowing deposit and something like that. I guess that confidence can be also developed during trading activity. If you understand that you're lack of confidence, then just try to overcome it. It's not easy, but you should dedicate some time to it. Less-confident people always make some serious mistake because they start raging and stop control their emotions. When you're confident you can rationally evaluate the situation and make a right choice.

Yes definitely its important, its required to invest your earnings in the market.

In trading, I believe confidence translates to executing your trading plan each time the opportunity presents itself. Without hesitation. Without second thought.

Confidence and patience are the two most important tools for successful forex trading. Without confidence, people will make hasty decisions, which will lead to losses.

Trading can break you if you don’t have the confidence to withstand the stress and pressure in the market. I think the biggest advantage of being a trader is that you are the one who needs to decide when to enter the market and when to exit. If you are not sure about the trade, just don’t open the position and if you think things are not working in your favor you can exit. Knowing that the power is in your hands can keep traders confident.

You have to withstand pressure in the markets. It’s very simple: if you lack confidence, it is unlikely you'll be able to accomplish your target of being a successful trader.

whitneytyler posted:
You have to withstand pressure in the markets. It’s very simple: if you lack confidence, it is unlikely you'll be able to accomplish your target of being a successful trader.

I think this is true to an extent i think its more experience that everything will be okay even if you have a loss. It is all part of the game. It is sometimes easier said than done as saying you can deal with losses and seeing red after red are two different beasts altogether. I think experience and confidence in your system are the secret sauce