ali555 Posted March 5, 2014 Report Share Posted March 5, 2014 How should a trader deal with overconfidence? Maybe a better question about confidence--trading and otherwise--is not why people are overconfident to begin with, but why they stay overconfident. You see, the problem with overconfidence is not the innate bias toward optimism that most people seem to possess. That’s a good thing it keeps the world moving forward. The problem is the inability to temper optimism as a result of prior experience. The truth is, we don’t learn well enough from our mistakes. Consider this: If overconfidence is as big a problem as some say it is, it should be a short-term problem at worst. http://www.forex-metal.com/affiliate/46199/2 Link to comment Share on other sites More sharing options...
kaito kid Posted March 17, 2014 Report Share Posted March 17, 2014 Self confidence is a very important thing to any one invest in Forex market.The self confidence make any trade trust in his or her self and in his or her trade that will do and that make the person very convenient and not hesitated.We can gain the confidence with one thing in Forex market we can get it by practicing Forex in demo account in long time and this practice will gain us the enough skills and experience we need and this skills and experience can give us the enough confidence. Link to comment Share on other sites More sharing options...
va_forex Posted March 18, 2014 Report Share Posted March 18, 2014 If over confident is same like unconfident in forex trade. Stay calm and focus.. Link to comment Share on other sites More sharing options...
uncle gober Posted April 10, 2014 Report Share Posted April 10, 2014 Overconfidence in Forex is common problem of many traders. Sometime i also be overconfident in my trading and got loss due to it. Confident is good in any activity of our life but when it became overconfident, our mind can't take right decision in any situation. When traders made decision under overconfident, it is always increase chances of loss in Forex trading. Experienced traders also not able to make right decision in overconfident situation. It is not easy to judge that we are in confident or overconfident, so that we should follow our plan to avoid overconfident situation in Forex trading. When we stick with our goal and target, always we can save our self from overconfident. Let's Try MYfxbook AutoTrade : Choose a trading system and trust your funds to carefully picked strategy Link to comment Share on other sites More sharing options...
Guest gaban Posted April 11, 2014 Report Share Posted April 11, 2014 all excessive then the result will not be good. overconfidence is okay as long as we stick to our trading rule. so then we can trade well so we will get the maximum trading Link to comment Share on other sites More sharing options...
kaito kid Posted April 16, 2014 Report Share Posted April 16, 2014 Discipline does it all. If a trader is disciplined, he would also be the type that will rise up to the challenge of suppressing with his ego. Most of the times, being overconfident is something that comes out of the display of ego on the part of the trader himself. It is always preceeded by some profits which come consistently. In other to overcome this, the trader needs a great deal of discipline, overcome that which his status makes him think and be the trader he wants to be and not the one his heart desire wants him to be. In that way, he will better understand the best way to trade without going far from safe trading. Try $5 cash rewards from FBS Link to comment Share on other sites More sharing options...
abory Posted April 17, 2014 Report Share Posted April 17, 2014 overconfident trading we are also not good. Forex trading is always changing so we definitely do not need to be careful when doing this business. for that, we must always be a lot to learn and practice trading so that we can succeed in this business. We could try trading in RealTrade Link to comment Share on other sites More sharing options...
uncle gober Posted April 25, 2014 Report Share Posted April 25, 2014 Experienced traders also not able to make right decision in overconfident situation. It is not easy to judge that we are in confident or overconfident, so that we should follow our plan to avoid overconfident situation in Forex trading. When we stick with our goal and target, always we can save our self from overconfident. Let's Try Armada Demo Cup 2014 : Forex trading contest with 20 000 $ prize pool Link to comment Share on other sites More sharing options...
Guest gaban Posted April 26, 2014 Report Share Posted April 26, 2014 overconfidence is also not good because it will make us arrogant trader and not easily accept advice from others. for it, in trading we have to do it carefully and do not be too confident Link to comment Share on other sites More sharing options...
kaito kid Posted May 2, 2014 Report Share Posted May 2, 2014 I think the best thing we all must do here is to avoid emotional trading and we should trade based on the market analysis and the market charts and we will get to control the state of over-confidence in the business as much as possible. Trading and we always have in mind that this is a very risky business and we also know that this business is hard one to joke around with and then we can have that confidence in custody. GET $5000 as an IB in my broker Link to comment Share on other sites More sharing options...
Guest gaban Posted May 3, 2014 Report Share Posted May 3, 2014 to get the maximum trade then we need a proper analysis, because the proper analysis then we can get good results. for that, we need the confidence to be able to make a good analysis. Link to comment Share on other sites More sharing options...
uncle gober Posted May 9, 2014 Report Share Posted May 9, 2014 The traders should always learn the forex market first and when the traders are able to learn forex with proper confidence for learning the traders gains,if trader are lacking to even learn the forex trading market then the trader start to lose.So the traders should always have to learn the forex trade market first and when the traders are able to learn the trades then the traders will have more success in during the trades. Let's Try Armada Demo Cup 2014 : Forex trading contest with 20 000 $ prize pool Link to comment Share on other sites More sharing options...
Guest gaban Posted May 13, 2014 Report Share Posted May 13, 2014 all that happens in forex can not be predicted exactly. So we must always improve trading skills are good if we want to succeed in forex. Just be confident, do not be too over asalakan believe him. because it will make us proud. Link to comment Share on other sites More sharing options...
fxapex Posted May 15, 2014 Report Share Posted May 15, 2014 Overconfidence is a very basic human instinct, by pre-assuming things positively a trader might become Overconfident , but it can be controlled by a trader only, its an individual realisation if he is getting over confident or not and how to get rid of it. Link to comment Share on other sites More sharing options...
Jo Eshuijs Posted May 11, 2020 Report Share Posted May 11, 2020 As a Forex trader, yes, you should trade confidently, but when a trader gets very confirm of his result in Forex trading it become overconfident habit. In my life, I really dislike the overconfident persons and in Forex business these type peoples never achieve success. To trade only confidently my broker Forex4you supports me a lot. They give me daily motivations with expert guideline and assistance, so I never become overconfident. Link to comment Share on other sites More sharing options...
maspluto Posted May 12, 2020 Report Share Posted May 12, 2020 achieving success in forex is not an easy matter, so it is important for traders to be better and to be more optimal in carrying out trading activities in accordance with expectations with Tickmill. Link to comment Share on other sites More sharing options...
Ross Edwards Posted June 12, 2020 Report Share Posted June 12, 2020 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. Link to comment Share on other sites More sharing options...
mlawson71 Posted June 13, 2020 Report Share Posted June 13, 2020 If one is over-confident, I recommend that they they think about all the losses experienced by traders due to poor trading and poor research of brokers. People lose hundreds of millions of dollars every year. Link to comment Share on other sites More sharing options...
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