Dont be overconfident in Forex.

[Evan]

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.

i absolutely agree because i'm the one that feel this emotion when trading in forex and then i lost my real money

 

[gabanda]

too confident in this forex trading should be avoided because forex is a business that has a lot of risks that we need to be a lot to learn and practice trading. The market price is difficult to predict that overconfidence will just make us able to trade with the maximum. That way we will be successful in this business

 

[anosocialnet]

@AliMuh just like @sindarin said. 10% is too low or small to compare on annual trading. Which good trader without any overconfident can make within a Day or couple of Days or Weeks or Months...(though u was joking but this remains the fact)

 

[fxapex]

@AliMuh just like @sindarin said. 10% is too low or small to compare on annual trading. Which good trader without any overconfident can make within a Day or couple of Days or Weeks or Months...(though u was joking but this remains the fact)

Yeah if you are earning 10% per annum then its definitely low, as you can earn such returns from normal bank deposits

 

[gabanda]

we can be confident in forex trading, but do not be too confident because forex is high risk, for that we need to be able to control yourself well so that risks can be minimized with good, so it will make us successful in forex

 

[sininfinity]

You can create your own strategy but the question which arise next can your strategy helps you? Or will you lose more with the strategy that you are using right now? If you are keep using with your confidence even know that will lead to more losses or in fact that will lead to that way it is a overconfidence.

If a strategy does not work then one should check back and see why it did not work. There can be many reasons and it takes a lot of effort to develop a good trading strategy. I won't call it over confidence rather a development.

 

[Dmitriy Ushakov]

I also think it's important, if any problems with trade begin, do not turn a blind eye, do not hope, that everything will be settled, but to realize where for the source of a problem is to fix it.

 

[Nezami]

There is nobody in this market place who can predict the real faction of this market with certainly. so, we the traders always try to see overconfident ,they must have been living fool’s paradise. Before overconfident, we actually have to acquire most powerful analyzing trade knowledge by learning that always makes us proper confident which is very supportive to lead a comfortable trading life with certainly.

 

[sininfinity]

There is nobody in this market place who can predict the real faction of this market with certainly. so, we the traders always try to see overconfident ,they must have been living fool’s paradise.

Well agree with this part. For most traders it is true. If we add some conspiracy to it then there are few large entities who can move the market to their desired direction.

 

[kxforexmart]

yes when we are over confident ,we actually make the mistakes more as we can't identify the errors and like that the performance can be deteriorated with time .

 

[kxforexmart]

Confidence always is needed to deal with the market but the over confidence factor can push towards the danger level and can demolish our trading career in short time

 

[arjun]

Over confidence, over trading and excess of anything is bad so it is good to bring discipline in every aspect of life to achieve success.

 

[Tom Latham]

According to my trading experience I think there is nobody who can predict the real faction of this market with certainly, so the traders who have overconfident about this trading place they must have been living in a fool’s paradise. But by acquiring proper trading knowledge we can increase our normal confident practically.

 

[kxforexmart]

Over confident can kill the natural trading skill and for that traders have to control such things and should trade with natural plan and strategies

 

[Faal]

There is nobody who can predict the real faction of this market with certainly , that’s why it is not possible to get overconfident about this trading place in spite of most powerful analyzing trade knowledge , but a long time trading experience can increase our trading confident , so we have to pass a long period in this trading place.

 

[kxforexmart]

yes when the over confident grab a trader ,they just fail to give their best because they can do some silly mistakes for that as they think that every thing is easy and simple and we can do anything.

 

[jenperry]

I also think that we don't need to over confident in forex because we don't know what happens next.

 

[kxforexmart]

yes if we are overconfident that can kill our trading skill and thus we can fail to perform in the main event by doing some silly mistakes as our natural trading ability can't be utilized.

 

[bolide]

I think that's familiar to 99% of traders, especially at the beginning, when it seems we know everything, where which sum is going, but that's not true. But after you lose money in a large amount a couple times the self confidence wares off)

 

[Fx Master]

There is nobody who can predict the real faction of this market place with certainly , so the traders who are always try to trade with overconfident I think they must have been living in a fool’s paradise. We can increase our trading confident by passing a long time in this volatile trading place. not overconfident at all.