Dont be overconfident in Forex.

[anggara friyagini]

This was my first withdrawal in fbs. I am very happy

 

[vic84]

Not in forex but being over confident can be a matter of concern, and it should be eradicated as quickly as possible.

 

[Rajesh]

I am not overconfident but positive. Because, I have three years trading expedience that helps me very much to predict the current market trend. Actually, volatile Forex market does not follow any exact grammar that know that, but my long time trading experience always helps me to take right decision in proper time. By the way, I am trading in one of the most dependable trading platform that provides me all fundamental data in quick time. Therefore, I can trade on fundamental news. As a result, I can be aware about high voltage news time according to their news. I never open my trade without getting good entry points. Therefore, my winning ratio is over 70% success trade.

 

[anosocialnet]

Over confidence is very deadly, Traders should work hard to avoid it , it normally blind Traders eyes not to see clearly when and when not to open position. And that can lead to loss

 

[CahCuncun]

Over confidence is very deadly, Traders should work hard to avoid it , it normally blind Traders eyes not to see clearly when and when not to open position. And that can lead to loss

Yes and we also must manage our emotion in forex. We must know that forex is risky business. and don't be over confident here. Try to use real accoun in TenkoFx, youcan make deposit only $10 using cent account

 

[sindarin]

@anosocialnet You're right there, it is very hurtful for trader who cannot see if they are overconfident or not. This emotion could lead for sure to more losses. Being positive and overconfident is different, positive means you already see many kind of aspect but still cautious if something happen, while overconfident as we know only think he/she is right without seeing other aspect.

 

[Farmer Sharona]

I quite agree with you confidence need very person. Confidence help us become success our life but overconfidence always being bad things. In Forex market when we continue make profit then increase our confidence so once time we feel overconfidence and then we face loss.

 

[sindarin]

I quite agree with you confidence need very person. Confidence help us become success our life but overconfidence always being bad things. In Forex market when we continue make profit then increase our confidence so once time we feel overconfidence and then we face loss.

Yes, everything that become over is bad for us and including overconfidence. I rarely see this kind of cases in traders who gained a lot of experience, but i see this is common in newbies, especially to those who just start gained more profits into their account. The best way to solve this is by changing mindset which is not easy at all.

 

[CahCuncun]

Yes, everything that become over is bad for us and including overconfidence. I rarely see this kind of cases in traders who gained a lot of experience, but i see this is common in newbies, especially to those who just start gained more profits into their account. The best way to solve this is by changing mindset which is not easy at all.

We should not be over confident in forex. It's dangerous. We must know that forex is risky. We should make decision with a consideration. Try to more control our emotion cause it's the key for us to get more maximal result

 

[wantus]

Yeah overconfidence may bring serious losses in your trading..especially if you forgot about risk management and start to trade insane with big lot orders and lack of analysis for every trade. Trading with Hotforex i always keep in mind a set of rules where no emotions is included..

 

[Johnson]

Confidence is Good to have in your trading plan and trading strategy but over confidence can lead you to the failure in the market because at that point of time you are overconfident about your trading strategy and ignore other factors which can have an impact on your trade.

 

[vic84]

I quite agree with you confidence need very person. Confidence help us become success our life but overconfidence always being bad things. In Forex market when we continue make profit then increase our confidence so once time we feel overconfidence and then we face loss.

Yeah its right even if we a make one positive trade our confidence increase , it very important to keep it in check and take decision logically, when we enter the forex market its a main problem.

 

[Johnson]

Over confidence is really bad for your trading because that can lead you to some disasters, confidence is definitely good in trading and helps you to improve your trading skills and then the trading results, so confidence is good for you.

 

[sindarin]

It's not that easy not be over confident when you have experienced good success in forex. but still it's very much important that we should not be over confident because we may lose a lot of money because of being over confident .

Why you should do something like that when you are not someone who laready got a lot of profit. Uuslaly trader who are overconfident is someone who got profit and think that forex is not full of surprise.

 

[Johnson]

Overconfidence can leads you to massive losses because you don't need to be overconfident about anything, because confidence can help you in trading but overconfidence can leads you to losses in the market so you need to avoid those.

 

[sindarin]

Well to be honest confidence still needed in foreign exchange world, it is the one that give you power to be a better trader. Overconfidence in this case, is a thing that meerging from our confidence. So be careful with your confidence, sometimes it could be a worse thing you ever got.

 

[Johnson]

yes, That's why traders in this market want to achieve confidence in trading plan, so in that perspective confidence is really good, but you also need to take care of the fact that you are not overconfident with your trading plan.

 

[Johnson]

Over confidence can lead you to greater losses as compared to other factors because that will make you feel that you can make money in every situation and that is a dangerous thing to do in market.

 

[sindarin]

Over confidence can lead you to greater losses as compared to other factors because that will make you feel that you can make money in every situation and that is a dangerous thing to do in market.

This is the biggest problem that many traders ever facing, so do i. Sometimes my confidence is over and i cannot even control myself when trading. Losing more positions than i ever imagine is a pain. What trader is need once again practicing, this is not coming in one time but you must undergo some training in real account(demo works but not for all trading according to my experience).

 

[vic84]

Over confidence is an extremely dangerous thing for an individual trade because that can lead you to some really big losses in the market, so you need to draw a line between confidence and over confidence.

Overconfidence is dangerous in any walk of life in forex it could be very dangerous, it makes you to make wrong decision without thinking twice.