Overconfident

wirymace posted:
As long as good risk management is used then over confidence can be controlled. I find revenge trading is more damaging than over confidence

Revenge trading only blows up your account.

Overconfident is the most dangerous thing in the forex market. Confident is good but overconfident can put you in great danger. I think, there is no space for overconfident in the forex market.

I agree with you. Overconfidence can put you in great danger in the forex market.

Harmful objects for overconfident trading. Overconfident can empty your account balance because when a trader becomes overconfident, it is not good for him to be in any discipline. They do not follow any money management to make a profit and increase the lot size. And they always want to do over-trading. As a result of this over-trading, losses are incurred. Risk rewards are never noticed.

The cause of losses in overconfident trading. Traders who trade overconfident can never become successful traders. Over-trading people always work with greed, so even if they make a profit, they can't keep that profit for long. This over-trading comes from overconfident. I become overconfident when I make a lot of profit together. And from that overconfident, I lose that profit again. That's why it's never right to be overconfident in trading.

Overconfident is not good for trading. It can put you in great danger.

EbonyJones posted:
Overconfident is not good for trading. It can put you in great danger.

True in every field. Have to keep a balance between low in confident and over confidence.

Over confidence takes a trader close to losses.
It is important to stay confident while trading, but a lil over confidence can mar it all

Always respect the market movement by not being full of yourself, my consistency making profits is because I always respect the market and follow trends of the market any direction it breaksout.
Just respect the market and not try to boss the market from your overconfidence and you will be a profitable trader always. That is my own secret of making profits.

Agree with all here, overconfidence puts you in trouble.

Over confidence is one of those trait that require controlling in order not to get your account wiped out. You will have to be yourself and not getting the best of what market is showing else you are losing more than you can count.

It is good to know that you are doing great and your confidence level is high. Be careful and good luck with the market.

One should have confidence but overconfident person always make mistakes and in this volatile market you cannot afford to make any mistake.

Overconfident can put you in great danger. You can loss all your money because of your overconfident nature.

Loss is inevitable if you are trading in volatile market conditions. Part of the loss in overconfident trading. You have to trade with the possibility of the Forex market. And if one wants to make a 100% profit in this market of possibilities, it is never possible. Money management and risk management are not followed if it is overconfident. This is why many traders make losses.

It’s good to be confident when you are trading. But when you cross the line and become over-confident, things get worse.

Many traders empty their accounts due to this issue, overconfidence and lack of proper plan.

Overconfidence can be a big disadvantage for traders. It is very important to stay focused and keep working hard.

Joao91 posted:
Many traders empty their accounts due to this issue, overconfidence and lack of proper plan.

Agreed! There has to be that thin line between confidence and over confidence, which lacks in many traders.