What is overconfidence in Forex?
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Thread: What is overconfidence in Forex?

  1. #1
    I've seen so many trader decrease their money in Forex trading as a result of overconfident and confront loss. I believe we control but emotion and also do trade quite skillfully must sake stock on right and with appropriate market analysis. Please share your perspectives here.

  2. #2
    Quote Originally Posted by ;
    Well, there is nothing like certainty in Forex, so in the event that you trade here and expect a 100% trading outcome, its called more than confidence! Trading with no stop loss trading position is just another symptom of over confidence! Incidentally, I receive around 65-70% success ratio in my personal trading platform, and that I believe in fact! And that I dont open multiple trades positions a at a time, because I am not certain about the final outcome!
    I wonder if there are really people who think they'd be 100% effective. Maybe some newbies? Getting some experience in trading usually teaches people not to believe in things like that.

  3. #3
    Yeah, overconfident has ruined many ventures within the course of history. With regard of Forex trading --it should be viewed as an venture, not influenced by personal feelings or opinions.

  4. #4
    Quote Originally Posted by ;
    Yeah, overconfident has ruined many ventures within the course of history. Anyway, with regard of Forex trading it ought to be viewed as an enterprise.
    Forex trading is a company which has a very large profit opportunities. Forex market is a market which has a very high liquidity compared to others, therefore it's no surprise that lots of fans forex trading. So for this to be able to get the advantage to be observed by learning as in the demo or competition demo accounts from brokers instaforex. Forex risk, so trading capabilities are maximized by the skill

  5. #5
    MOST traders lose their money in Currency Market owing to the fact that they are over confident and in the long term experience loss. When we examine the course of history, overconfidence has killed many ventures. We can handle that emotion commerce skilfully

  6. #6
    It is an unfortunate mix of jealousy and lack of self-awareness about one's own degree of knowledge and skill. People believe the market will move in a specific direction because they need it rather than see and think that the signs on the chart, and wind up getting burned.

  7. #7
    Is a killer. Compliance with basic risk management and trading rules becomes virtually impossible when a person becomes more than confident. Traders begin to over leverage, cease using hard stops, and swing for the fences on each transaction. Basically, traders flip trading into gambling when they are over confident. Trading is a business and should always be treated as such.

  8. #8
    Overconfidence can still possess our error concerning loosening our trading or say that we may dismiss or overlook something that is significant. However, a lot of Forex is going to be bad and won't gain a trader and these features in both having a lot of confidence and lack of confidence.

  9. #9
    For keeping survive in this volatile trading place confident is needed but overconfident is will dangerous , sometimes because overconfident then major trader covetous in transactions, and dare to accept risk in trading which really the market very dynamic and not necessarily after trade open transactions afterward will immediately get profit.

  10. #10
    IMO, 99% of Forex traders aren't overconfident and overconfidence isn't what leads them to over leverage or transfer stops.
    Its just a pure and simple gamble for the ordinary retail trader. We seek the rush, the big home run trade, doubling up your account weekly and so on and so on. We take huge risks to get these things and I would say most of us are well aware of the risks we take. So to cut it short its not overconfidence that destroys the account its own the wishful thinking... just my 2 cents

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