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Overconfident
Membro Desde Jul 20, 2020
298 posts
Oct 23, 2020 at 02:22
Membro Desde Jul 20, 2020
298 posts
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.
Membro Desde Jul 19, 2020
318 posts
Membro Desde Jun 05, 2020
33 posts
Membro Desde Jul 03, 2020
37 posts
Oct 27, 2020 at 07:16
Membro Desde Apr 15, 2020
219 posts
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.
Membro Desde Nov 07, 2020
25 posts
Membro Desde Sep 08, 2020
32 posts
Feb 08, 2021 at 12:05
Membro Desde Jan 21, 2021
48 posts
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.
Membro Desde Mar 17, 2021
536 posts
Apr 06, 2021 at 05:41
Membro Desde Apr 15, 2020
219 posts
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.
Membro Desde Mar 29, 2021
9 posts
Membro Desde Jul 23, 2020
759 posts
Membro Desde Nov 03, 2020
65 posts
Membro Desde Feb 18, 2021
10 posts
Jul 22, 2021 at 11:27
Membro Desde Jul 07, 2021
41 posts
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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