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Dont be overconfident in Forex.

Hello,

I think so many trader loose their money in forex due to over confidence and then face loss.. I think we control but emotion and do trade very skilfully must sake stock on right and with proper market analysis. Please share your views her.
 
Yeah, overconfidence has destroyed many ventures over the course of history. Anyway, with regards to forex trading -- it should be viewed as an objective venture, not influenced by personal feelings or opinions.
 
It is true that after some victories traders are over confident they think now they can deal with market very well as they wish . They forget safety tools and managed way of trading. They want profit all time. In this way they face loss when suddenly market change its position. it is wise to be in some fear always so that you can do protective trading.
 
Overconfidence takes the trader towards loss so trader should trade with proper discipline and with proper money management skills.
 
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.
 
Ah, this thing is the one which many traders always forget i know that some of us must be know about this, with overconfident we cannot earn so much bucks in forex, and also it indicated that we cannot even know how to control our own emotion, which means we are a bad trader at all.
 
Actually, this can be the situation. We already have many profits or bucks in Forex that trigger our overconfidence in trading. So, it's actually made us earn already but the drawback is the overconfidence and eventually lead to the future losses and then, again not good as a trader. We should remain calm and focus.
 
Actually, this can be the situation. We already have many profits or bucks in Forex that trigger our overconfidence in trading. So, it's actually made us earn already but the drawback is the overconfidence and eventually lead to the future losses and then, again not good as a trader. We should remain calm and focus.

yes, I agree with that. we tend to become overconfident because get some of consecutive profit result. we think that we are good in making trading decision and unfortunately, it lead us to be careless. we forget that market unpredictable and can lead us get bad result. so, we need to keep focus and avoid overconfident.
 
whats happen after we are being overconfident is usually increasing the risk and break money management rule. its normal because we feel that we are able to being right and able to make very good trading decision. we are become rush and careless and finally we will back down to the earth again after market shows that they are unpredictable.
 
This is always my downfall. I'm too eager to trade in forex and make some profit that I did not see my downfall coming.I do hope that in the long run I can actually survive the mess that I put myself into. I do hope that I can sustain and maintain my aud/usd positions regardless the current situation right now. As I really do want to survive right now.
 
Failure that I get because being overconfident is seriously my concern right now. market teach me that being overconfident won't make my capital growing and instead, lead me to suffering margin call. for now, I always trade by stick with risk management plan and don't want to playing around again.
 
[MENTION=592]kasual[/MENTION]: i think that is what will happen with traders who always feel overconfident with their own skill, if we know yourself and know what happening with market, we will be 100% in profit , that is what i learn, if you know this two aspect well, then profit is in your hand, and overconfident is something that every trader should diminshed or if they can, destroy it.
 
I always think that there's no basis of your 100% or any percentage here, you can just assume but stating of 100% profit will mean nothing. Just have it in general as you can't prove that if you have confidence, overconfidence or no confidence will have it's various results to trades.
 
It is true that being overconfident surely makes things harder to the trader. It is then becomes harder to make money and also we have to manage sometimes on some things. I have learned that there are some of the things that needs to be managed there for the forex in order to make money.
 
Of course, every thing in excess would be bad that will also apply in forex trading. If you would not be able to control that then you would not be able to trade properly because you would be very much comfortable that you would be careless when you are trading.
 
Over confident is the main reason why I'm in deep trouble right now. I do hope I can bounce back. I'm really hoping that I can sustain and maintain my account for good. One thing I'm sure right now and that is as long I do earn good amount of money in forex I'm going to trade and make money in forex.
 
I think that we should keep on rechecking on the analysis or just stick to our analysis because, we will not have here good results if just overconfident in trading and then, it will suffer our analysis and our market view. Yes, you can still earn here money in the end and hope it will be profits.
 
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 .
 
I am sure that not only in forex but also in other business if you become over confident with yours then you will loss everything, and that thing also what happening in forex, it will be good if you don't loss all of your capital, if you loss all of your capital then it will be a nightmare for you, so that is why we musn't overconfident in trading
 
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