Overconfident is just immaturity

[Nezami]

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.

 

[Lee Mark]

According to me, it’s a common problem by the new Forex traders! After making 2-3 trade’s profit mostly new traders got super excited; and then invest their real money; although they have no idea about the reality of Forex! As a result, maximum new traders crash their 1st live account for surely! That’s the result of over confidence!

 

[lioneld]

According to me, it’s a common problem by the new Forex traders! After making 2-3 trade’s profit mostly new traders got super excited; and then invest their real money; although they have no idea about the reality of Forex! As a result, maximum new traders crash their 1st live account for surely! That’s the result of over confidence!

Interestingly, same experience; I also crushed my 1st live account on the 3rd day of my trading life. By the way, then I started my demo and used it for one year! Yes, till now I have never face MC, knowledge is the key here.

 

[Gerald Davydov]

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.

Confidence is very important. Confidence comes from knowledge and skills. Without proper knowledge and skills if anyone thinks he has lot of confidence, he can make money, then that's overconfidence. We should not be overconfident. Most of the newbies are overconfident. They focus on profit rather than developing skills.

 

[lioneld]

Confidence is very important. Confidence comes from knowledge and skills. Without proper knowledge and skills if anyone thinks he has lot of confidence, he can make money, then that's overconfidence. We should not be overconfident. Most of the newbies are overconfident. They focus on profit rather than developing skills.

Good point, really trading is easy! But, a number of new traders try to make quick money here! As result, more than 98% new traders lose their very first investment within just 2 weeks! That’s the reality.

 

[Oscar Shumack]

Those here and there profit trades make them greedy. They keep doing random trading. They also keep unrealistic profit expectation. They don't have willingness to study and learn. Very few traders read books related trading.

 

[Kazumu Fukunaga]

Not everyone can be a trader. A person with determination, quest for knowledge, patience and good understanding ability can be a trader. And all these qualities can be achieved if one wants. But the problem is most people do not have that much will power. You should choose the career that you understand and like to do. You can not choose your career based on opportunity of huge profit.

 

[Cooper Truebridge]

I have had so much that I have become overconfident and traded in big lots after making a profit for a long time. Later I saw that I lost in that trade and lost the investment by over-trading to cover that loss.

 

[Kevin Vogt]

Success doesn't come overnight. For success you need preparation, knowledge, and skills. You have to spend time in acquiring knowledge and skills. Once you are skilled success will start to come. Every new trader should focus on skill development.

 

[Alexander Hudson]

Yes. Overconfident is not good at all for trading.

 

[Eduardo Lucchese]

Learning trading is no longer a hurdle in recent time. There are so many e-books containing the basics of Forex trading and a pile of video tutorials available on Youtube.

 

[Oscar Shumack]

There is no scope of being overconfident in Forex. Which direction the market will move is unknown to traders. Intense market analysis is needed to capture the market forecast.

 

[Aaron_0]

Overconfidence can still have our mistake in terms of loosening our trading or say that we might ignore or miss something that is significant.

There is no chance of being overconfident in Forex because the market is highly uncertain for traders.

 

[Ethan]

A learned trader never be overconfident of their trading because they know the reality of the market. They know how uncertain the market is and how frequently the market reverses.

 

[SaadBinToha]

Overconfidence is like salt for a trader; if a bit more salt if poured in a curry, it destroys the taste.

 

[Ethan]

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.

Overconfidence can blind traders to critical details and lead to reckless decisions, while a lack of confidence may cause missed opportunities. Striking a balance is essential in Forex trading. Traders should remain cautious, continually assess their strategies, and maintain a mindset that embraces both confidence and humility for success.

 

[Aaron_0]

Not everyone can be a trader. A person with determination, quest for knowledge, patience and good understanding ability can be a trader. And all these qualities can be achieved if one wants. But the problem is most people do not have that much will power. You should choose the career that you understand and like to do. You can not choose your career based on opportunity of huge profit.

Not everyone can be a successful trader; it requires determination, a quest for knowledge, patience, and comprehension skills. While these qualities can be developed, many lack the willpower to pursue them. It's essential to choose a career based on personal interests and understanding, rather than solely on profit potential.

 

[SaadBinToha]

Not everyone can be a trader. A person with determination, quest for knowledge, patience and good understanding ability can be a trader. And all these qualities can be achieved if one wants. But the problem is most people do not have that much will power. You should choose the career that you understand and like to do. You can not choose your career based on opportunity of huge profit.

Trading isn't for everyone; it demands qualities like determination, curiosity, patience, and the ability to learn. While these traits can be developed, many people struggle with commitment. It's important to choose a career based on passion and understanding rather than just the allure of potential profits.