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Overconfident
Uczestnik z Jul 20, 2020
298 postów
Oct 23, 2020 at 02:22
Uczestnik z Jul 20, 2020
298 postów
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.
Uczestnik z Jul 19, 2020
318 postów
Oct 23, 2020 at 09:41
Uczestnik z Jul 19, 2020
318 postów
Confident is good but overconfident is not good. It can put you in great danger.
Uczestnik z Jun 05, 2020
33 postów
Uczestnik z Jul 03, 2020
37 postów
Uczestnik z Apr 15, 2020
219 postów
Oct 27, 2020 at 07:16
Uczestnik z Apr 15, 2020
219 postów
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.
Uczestnik z Nov 07, 2020
25 postów
Uczestnik z Sep 08, 2020
32 postów
Feb 08, 2021 at 12:05
Uczestnik z Jan 21, 2021
48 postów
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.
Uczestnik z Nov 19, 2020
104 postów
Feb 10, 2021 at 05:53
Uczestnik z Nov 19, 2020
104 postów
There are times when good earnings and profits might instil a feeling of over confidence in a trader. But good traders will always keep calm during such situations and not give in to any impractical activity.
Uczestnik z Dec 28, 2020
187 postów
Feb 23, 2021 at 10:25
Uczestnik z Dec 28, 2020
187 postów
You become confident when you gain experience in forex and spend time on learning forex and developing strategy. But when you are overconfident about your trading practice,for sure it will lead you in losses.
Uczestnik z Mar 17, 2021
536 postów
Apr 03, 2021 at 16:51
Uczestnik z Mar 17, 2021
536 postów
leeson12 posted:Yes. Overconfident can cause a great loss in your trading career.
Overconfident is very very bad, it always end up wiping your account. Even I wouldnt rely on confident as well, just stick with your trading plan.
Uczestnik z Apr 15, 2020
219 postów
Apr 06, 2021 at 05:41
Uczestnik z Apr 15, 2020
219 postów
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.
Uczestnik z Mar 29, 2021
9 postów
Uczestnik z Jul 23, 2020
759 postów
Apr 07, 2021 at 11:17
Uczestnik z Jul 23, 2020
759 postów
hoagsobject posted:I also agree with you. All kind of human emotion is the enemy of a trader. Try your best to avoid them.
Overconfidence is the enemy of almost all endeavours
Uczestnik z Nov 03, 2020
65 postów
Uczestnik z Feb 18, 2021
10 postów
Jul 22, 2021 at 11:27
Uczestnik z Jul 07, 2021
41 postów
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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