Dont be overconfident in Forex.

[kasual]

being overconfident will bring trader become careless and often, it lead trader make wrong trading decision. I don't know whether it in term of open position or in decide to use margin per order. being overconfident also make us tend to become not aware anymore that the market is unpredictable and risk loss will always exist.

 

[budado]

I'm not over confident in forex trading. But same time I get bored and I want to take some more risk just to make my heart bump again. Sad to say I end up getting loses instead of getting profit when I'm doing this. I do hope I can make something good out of myself in here.

 

[indieover]

Yeah sometimes out of boredom, That we would take the risk. Maybe because we cannot wait for that right time to come, so instead of waiting we would open an order right away even if we are not sure about it. But for me I am I more patient and careful trader.

 

[sindarin]

That means we lost our own patience and that could be dangerous for us when we trade, for me when you trade you need to press your emotion as low as you can, so something like overconfident, greediness, impatience, and etc must be lowering inside your mind when trading and use your mind clearly

 

[kasual]

reasonable if we are choose to increase the risk when we feel that market easy to predict. however, we are surprised because the market move not suitable with our prediction. I experience this previously and now I have learned already that its not wise decision. I need to keep stick with my own risk management rule.

 

[indieover]

Hanting a confidence is very important indeed but too much confidence is also dangerous. anything that is extreme would be dangerous. We should learn how to use confidence in a right way. Having too much would not help us to be more successful but it can cost you too many losses. That's why we should avoid it.

 

[ryuken]

I have found that being ovr confident in the any stream is something that we have to see. that said, the forex is not an easy to amange at first place. forex requires a lot of time and money in order to manage things. it would not be easy for people to deal wiht the loss if they are short on money at first place.

 

[kasual]

more easy indeed if we are deal with huge amount of capital because it will make us more relax during trading. if we are keep being conservative. but having small capital actually not necessary to prevent trader to not being confident. if they are keep apply good risk management and have good trading strategy, small capital will be increase for sure.

 

[indieover]

Indeed having bigger or smaller amount does not prevent anyone getting over confident. Sometimes it's just because of t the wrong attitude of the trader which he would need to correct if he wants to be better trader. a trader must learn how to handle his confidence

 

[ryuken]

It is true that being overconfident in the forex trading can lead to more problems and sometimes you have to understand that pepole need to be said to do htings. I am not sure how the people are going to be managing the confidence related things in the forex, it just doesn't help much these days.

 

[indieover]

If we have wrong source of confidence then we would just fail.our confidence should come from our should and knowledge and not just on the false hope that can be successful even without hard work and learning hard. that is not confidence at all

 

[ryuken]

I am telling you that forex is one of the hardest market to get into and then dealing wiht the forex trading is not easy for even professionals. so better option for many of us is to stick with what works and then we can make sure that we are earning some decent stuff with it.

 

[budado]

Over confident can always result to loses in mypart. Lets just hope that in the long run we can maintain and sustain our earnings in forex for good. I do enjoy trading in forex and I do hope I can maintain and sustain my account in forex for good. This is the main reason why when I make consecutive profit I usually end up getting multiple MC on the next month also.

 

[riddick09]

Overconfident will have the losses here and we should see that we lose of our concentration in our trading when we are in that state. And yet, there's always no good to have too much in trading or in life as there's always bad effect or consequence.

 

[jackcm]

Overconfidence leads trader to losses, huge losses. Overconfidence is usually confused with patience. Trader cannot admit he/she was wrong and not able to close current losing positions, and so he/she lets it be there until they're closed because of stop-loss or no money left to hold positions.

 

[glucoseguy]

Overconfidence in any aspect of life isnt good so applies to forex. Take for instance, Being too confident that the stock exchange value won't drop may cause a forex trader to invest more than he initially wanted to which could lead to huge losses.

 

[hadg33]

The question is,is there over confidence in forex trading? I don't think so,we all are aware that the market is volatile so how does a trader gets so much confidence that the market would be stable. So the assertion is not even right.

 

[Decub]

Being overly confident when we are trading has its toll on the trader's emotion negatively. He tends to believe a whole lot in what he is able to achieve and think less of applying the analytical principle that Forex demands. It is not bad though to be optimistic but when it gets beyond the usual optimism to being over-confident, then it has a negative influence on the trader.

 

[sindarin]

The question is,is there over confidence in forex trading? I don't think so,we all are aware that the market is volatile so how does a trader gets so much confidence that the market would be stable. So the assertion is not even right.

Overconfidence is exist in forex trading, as traders that already trade in forex for more than one year, i ever feel like that, after see everything under control, i just trade without prepare for the worst and carelessly open position which lead to huge loss, if you ever trade in forex then you should know something like this exist. i already shared with some people who felt something like this before and they help me how to solve this problem.

 

[hadg33]

For the fact that some traders has been trading for over one year means that they should be confident in forex trading,why do you think the so called forex professionals make use of the demo account,if they are sure of what they are doing or confident,they should disregard the demo account and see what would happen to them when trading. The truth is,I might not be able to convince,but the way I sees it,there is is nothing like over confidence in forex.