Overconfident

Oct 31, 2017 at 15:39
2,377 Visa
50 Replies
Medlem sedan Jul 20, 2020   298 inlägg
Oct 23, 2020 at 02:22
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.
Medlem sedan Jul 19, 2020   318 inlägg
Oct 23, 2020 at 09:41
Confident is good but overconfident is not good. It can put you in great danger.
Medlem sedan Jun 05, 2020   33 inlägg
Oct 23, 2020 at 11:17 (redigerad Oct 23, 2020 at 11:17)
GeorgeBischof posted:
Confident is good but overconfident is not good. It can put you in great danger.
Agreed! A line between the two is very important.
Medlem sedan Jul 03, 2020   37 inlägg
Oct 26, 2020 at 07:03
Both overconfidence and missing something can be harmful for a trader. Try to find logic in everything you do.
Medlem sedan Apr 15, 2020   219 inlägg
Oct 27, 2020 at 07:16
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.
Medlem sedan Nov 07, 2020   25 inlägg
Dec 02, 2020 at 10:28
It’s good to be confident while trading. But don’t be overconfident because you make losses more than expected.
Medlem sedan Sep 08, 2020   32 inlägg
Dec 03, 2020 at 10:39
Do not let overconfidence chip away your profits.
Medlem sedan Jan 21, 2021   48 inlägg
Feb 08, 2021 at 12:05
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.
Medlem sedan Nov 19, 2020   104 inlägg
Feb 10, 2021 at 05:53
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.
Medlem sedan Dec 28, 2020   187 inlägg
Feb 23, 2021 at 10:25
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.
Medlem sedan Feb 23, 2021   16 inlägg
Feb 23, 2021 at 11:37
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.
Medlem sedan Nov 16, 2020   55 inlägg
Mar 10, 2021 at 11:49
if you do not remove self-confidence from trading and have not learned to control yourself, I see no reason to trade.
Medlem sedan Mar 17, 2021   536 inlägg
Apr 03, 2021 at 16:51
leeson12 posted:
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.
Yes. Overconfident can cause a great loss in your trading career.
Medlem sedan Nov 02, 2020   57 inlägg
Apr 05, 2021 at 09:56
Overconfident people often do not notice these nuances and points that are important for trading and in order to avoid risks and losses.
Medlem sedan Apr 15, 2020   219 inlägg
Apr 06, 2021 at 05:41
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.
The more your practice, the more you learn.
Medlem sedan Mar 29, 2021   9 inlägg
Apr 06, 2021 at 09:50
Overconfidence is the enemy of almost all endeavours
Medlem sedan Jul 23, 2020   759 inlägg
Apr 07, 2021 at 11:17
hoagsobject posted:
Overconfidence is the enemy of almost all endeavours
I also agree with you. All kind of human emotion is the enemy of a trader. Try your best to avoid them.
Medlem sedan Nov 03, 2020   65 inlägg
Jul 06, 2021 at 04:31
Sometimes overconfidence is confused with confidence, and as a result, it has a detrimental effect on your trading results.
Medlem sedan Feb 18, 2021   10 inlägg
Jul 22, 2021 at 07:02
Not just trading, overconfidence is not a right mindset in any field.
Medlem sedan Jul 07, 2021   41 inlägg
Jul 22, 2021 at 11:27

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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