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Thread: Overconfidence

  1. #1
    Join Date
    Jan 2017
    Posts
    1,160

    Overconfidence

    Overconfidence can still have our mistake in terms of loosening our trading or say that we might ignore or miss something that is significant. Still, too much in Forex will be bad and will not benefit a trader and these includes in both having too much confidence and lack of confidence.

  2. #2
    Join Date
    Aug 2017
    Posts
    1,435
    Obviously overconfidence is very dangerous for Forex trading. So, if you are an overconfident trader just develop yourself qualities and change your mind from being overconfident. There is no scope to lead a successful or comfortable trading career by trading as an overconfident trader. I am trading Forex4you trading platform who is one of the leading Forex brokers and always work to provide the best facilities in their trading platform.
    I get motivation from them daily and that’s how I have developed myself confident but not being overconfident. They give promotional offers including – wide range of trading bonus and others. I think this is the perfect broker and everyone should try once this trading broker to develop their trading career with certainly.

  3. #3
    Join Date
    Dec 2017
    Posts
    592
    Trend trading is a famous system as it empowers traders to recognize and exploit market energy. Trend trading is a procedure that includes utilizing technical pointers to distinguish the course of market energy. It depends on the possibility that markets have a component of consistency, so by dissecting chronicled trends and value developments, a trader will most likely conjecture what could occur later on.

  4. #4
    Join Date
    Dec 2018
    Posts
    45
    Overconfidence comes from your belief and skills. If you have a working strategy that you are sure of with all calculations done, then there is nothing wrong with having that kind of confidence.

  5. #5
    Join Date
    Sep 2018
    Posts
    698
    The challenge in forex is controlling yourself.
    Greed and overconfidence can make trading messy. To get a mature analysis we must think clearly. If you want to learn analysis with experts you can directly join the Freshforex telegram channel, each analysis follows the market trends every day, so you can get the latest analytical knowledge(ultra-fresh financial analytics every day.).

  6. #6
    Join Date
    Jan 2017
    Posts
    606
    Confidence is enough but overconfidence is really harmful for trading. Forex is a market beyond guessable so it is really unpredictable what will be done after some while. But good features a broker can give someone handsome amount of profit. FXDirects is offering 0.0 pips spread along with 100:1 leverage which extends the profitability of a trader.

  7. #7
    Join Date
    Oct 2019
    Posts
    223
    One of the biggest reasons why Forex traders fail in Forex trading early is the overconfidence in trading. Overconfidence always been the reason for losing money much but in Forex market according to my research I have seen that most of the Forex newcomers been overconfident by earning money once or twice in their career which causes their failure.
    But by trading with ForexOne trading broker I can always trade with confidently because I have learned properly before starting trading in my trading but by following their trading guideline and expert’s assistance I can also control the overconfidence manner practically. This is why I am still trading very profitably in this challenging field. Any types of trading problems I can easily handle.

  8. #8
    Join Date
    Jul 2017
    Posts
    206
    Confidence takes a man to the peak of success on the contrary to that overconfidence takes a man to the way of failure indeed. Forex is a market where there is no space for guarantee. No one knows what is going to be held in Forex after a moment though it runs on the basis of world economy. But traders should trade Forex with confidence and moderate trading risk. What facilities FXDirects provides will be congenial to your risk management indeed.

  9. #9
    Join Date
    Jan 2020
    Posts
    367
    One of the biggest reasons why Forex traders fail in Forex trading early is the overconfidence in trading. Overconfidence always been the reason for losing money much but in Forex market according to my research I have seen that most of the Forex newcomers been overconfident by earning money once or twice in their career which causes their failure. But I always rely on AtoZ Markets for making my strategy and decision and for them i can trade with confidently because I have learned properly before starting trading with the help of their trading guideline and expertís assistance I can also control the overconfidence manner practically. This is why I am still trading very profitably in this challenging field. Any types of trading problems I can easily handle.

  10. #10
    Join Date
    Apr 2017
    Posts
    822
    One of the most important forex strategy is to think with your mind not with your heart. Emotion can put you in danger in forex market. Another strategy is to pick up a broker which gives a lot facilities in the trading. I use TP Global FX for their low spreads, dynamic leverage and quick customer service. They provide tight spreads starts from 0.01 pips. Their maximum leverage is 1:500. They give me 24X5 customer service. So, in my trading career they play an important role.

  11. #11
    Join Date
    Jan 2020
    Posts
    30
    On the one hand, it can be said that self-confidence is not very good, but at some points it really helps to go through a certain stage.

  12. #12
    Join Date
    Feb 2020
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    41
    Sometimes self-confident people make critical mistakes, I think that not everyone knows and understands better than others. Therefore, their earnings are not what they need.

  13. #13
    Join Date
    Feb 2020
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    41
    The self-confident trader believes that only his opinion, his analysis, his actions are correct. And often this plays a trick on him and leads to a disastrous result.

  14. #14
    Join Date
    Feb 2020
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    35
    Some people confuse the concept of confidence with self-confidence; people who are confident in their abilities achieve results. People who think that they know everything better than the rest basically lose.

  15. #15
    Join Date
    Feb 2020
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    39
    Self-confidence is not the best quality of a trader, because it makes it possible to make many mistakes. Therefore, you always need to evaluate your strength correctly.

  16. #16
    Join Date
    Mar 2020
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    30
    I think everything is clear here, that self-confident people who think that they know better they will succeed often fail and are disappointed.

  17. #17
    Join Date
    Mar 2020
    Posts
    30
    It happens often. Money quickly came - and quickly left. And the person didnít really understand anything and even learned the negative manners of behavior in the market. Self-confidence is closely associated with increased risk per trade.

  18. #18
    Join Date
    Mar 2020
    Posts
    30
    How many self-confident traders flew off this path and were left with nothing to think that they really are the best and know a lot more than the rest.

  19. #19
    Join Date
    Feb 2020
    Posts
    41
    I think that self-confidence is not only harmful to Forex trading, but it’s really hard for such people to live in life. Therefore, they cannot achieve their goals.

  20. #20
    Join Date
    Feb 2020
    Posts
    35
    The worst thing, probably self-confident people, is that when they lose and make mistakes, they are not aware and continue to move in the same direction.

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