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Overconfident
Jul 26, 2021 at 10:59
Mitglied seit Jul 07, 2021
41 Posts
mlawson71 posted:I would suggest trying to ask yourself every time whether you feel that this decision is safe enough considering the risks you can see and predict? Making this a habit could help. I like to do this myself.
Can you recommend any ways to overcome such overconfidence? Any practical advice?
Mitglied seit Jun 17, 2021
9 Posts
Mitglied seit Jun 15, 2021
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Mitglied seit Jul 23, 2020
869 Posts
Mitglied seit Aug 05, 2021
401 Posts
Aug 18, 2021 at 15:37
Mitglied seit Aug 05, 2021
401 Posts
True. Doubting yourself and being too full of yourself can both wreak havoc on trading profits. I’ve experienced both. At first I was overly anxious and headstand, which caused me to lose out on a lot. Once I got better at trading I got a little too comfortable risking too much and lost a good bit, which was enough to humble me. I think the best traders find the balance between the two.
Nov 16, 2021 at 08:51
Mitglied seit Sep 02, 2020
14 Posts
Over confidence in case of trading activity can lead to unpleasant consequences. For example, if you see that everything is okay you start to open positions chaotically and turn off your brain and logic. Everything because you think that you have started to feel the market and you can do everything and will be profitable.
Nevertheless it's not like that and often such behvaior on the market leads to blowin of accounts. Be careful with this thing.
Nevertheless it's not like that and often such behvaior on the market leads to blowin of accounts. Be careful with this thing.
Nov 19, 2021 at 08:06
Mitglied seit Nov 02, 2021
73 Posts
Overconfidence can lead a trader to make decisions that are careless, impulsive, and rash. These types of decisions can lead to the loss of money in trading; this is especially true in the Forex market because of its high volume and volatility. So, a trader should be careful to maintain control over emotions and let logic rule the actions rather than overconfidence.
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