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Thread: Overconfidence

  1. #1
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    Jan 2017
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    991

    Overconfidence

    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.

  2. #2
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    Aug 2017
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    Obviously overconfidence is very dangerous for Forex trading. So, if you are an overconfident trader just develop yourself qualities and change your mind from being overconfident. There is no scope to lead a successful or comfortable trading career by trading as an overconfident trader. I am trading Forex4you trading platform who is one of the leading Forex brokers and always work to provide the best facilities in their trading platform.
    I get motivation from them daily and that’s how I have developed myself confident but not being overconfident. They give promotional offers including – wide range of trading bonus and others. I think this is the perfect broker and everyone should try once this trading broker to develop their trading career with certainly.

  3. #3
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    Dec 2017
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    Trend trading is a famous system as it empowers traders to recognize and exploit market energy. Trend trading is a procedure that includes utilizing technical pointers to distinguish the course of market energy. It depends on the possibility that markets have a component of consistency, so by dissecting chronicled trends and value developments, a trader will most likely conjecture what could occur later on.

  4. #4
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    Dec 2018
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    Overconfidence comes from your belief and skills. If you have a working strategy that you are sure of with all calculations done, then there is nothing wrong with having that kind of confidence.

  5. #5
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    Sep 2018
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    The challenge in forex is controlling yourself.
    Greed and overconfidence can make trading messy. To get a mature analysis we must think clearly. If you want to learn analysis with experts you can directly join the Freshforex telegram channel, each analysis follows the market trends every day, so you can get the latest analytical knowledge(ultra-fresh financial analytics every day.).

  6. #6
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    Jan 2017
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    606
    Confidence is enough but overconfidence is really harmful for trading. Forex is a market beyond guessable so it is really unpredictable what will be done after some while. But good features a broker can give someone handsome amount of profit. FXDirects is offering 0.0 pips spread along with 100:1 leverage which extends the profitability of a trader.

  7. #7
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    Oct 2019
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    223
    One of the biggest reasons why Forex traders fail in Forex trading early is the overconfidence in trading. Overconfidence always been the reason for losing money much but in Forex market according to my research I have seen that most of the Forex newcomers been overconfident by earning money once or twice in their career which causes their failure.
    But by trading with ForexOne trading broker I can always trade with confidently because I have learned properly before starting trading in my trading but by following their trading guideline and expert’s assistance I can also control the overconfidence manner practically. This is why I am still trading very profitably in this challenging field. Any types of trading problems I can easily handle.

  8. #8
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    Jul 2017
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    Confidence takes a man to the peak of success on the contrary to that overconfidence takes a man to the way of failure indeed. Forex is a market where there is no space for guarantee. No one knows what is going to be held in Forex after a moment though it runs on the basis of world economy. But traders should trade Forex with confidence and moderate trading risk. What facilities FXDirects provides will be congenial to your risk management indeed.

  9. #9
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    Jan 2020
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    257
    One of the biggest reasons why Forex traders fail in Forex trading early is the overconfidence in trading. Overconfidence always been the reason for losing money much but in Forex market according to my research I have seen that most of the Forex newcomers been overconfident by earning money once or twice in their career which causes their failure. But I always rely on AtoZ Markets for making my strategy and decision and for them i can trade with confidently because I have learned properly before starting trading with the help of their trading guideline and expertís assistance I can also control the overconfidence manner practically. This is why I am still trading very profitably in this challenging field. Any types of trading problems I can easily handle.

  10. #10
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    Apr 2017
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    714
    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.

  11. #11
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    Jan 2020
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    On the one hand, it can be said that self-confidence is not very good, but at some points it really helps to go through a certain stage.

  12. #12
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    Feb 2020
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    Sometimes self-confident people make critical mistakes, I think that not everyone knows and understands better than others. Therefore, their earnings are not what they need.

  13. #13
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    Feb 2020
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    The self-confident trader believes that only his opinion, his analysis, his actions are correct. And often this plays a trick on him and leads to a disastrous result.

  14. #14
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    Feb 2020
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    Some people confuse the concept of confidence with self-confidence; people who are confident in their abilities achieve results. People who think that they know everything better than the rest basically lose.

  15. #15
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    Feb 2020
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    Self-confidence is not the best quality of a trader, because it makes it possible to make many mistakes. Therefore, you always need to evaluate your strength correctly.

  16. #16
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    Mar 2020
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    I think everything is clear here, that self-confident people who think that they know better they will succeed often fail and are disappointed.

  17. #17
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    Mar 2020
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    It happens often. Money quickly came - and quickly left. And the person didnít really understand anything and even learned the negative manners of behavior in the market. Self-confidence is closely associated with increased risk per trade.

  18. #18
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    Mar 2020
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    How many self-confident traders flew off this path and were left with nothing to think that they really are the best and know a lot more than the rest.

  19. #19
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    Feb 2020
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    I think that self-confidence is not only harmful to Forex trading, but it’s really hard for such people to live in life. Therefore, they cannot achieve their goals.

  20. #20
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    Feb 2020
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    The worst thing, probably self-confident people, is that when they lose and make mistakes, they are not aware and continue to move in the same direction.

  21. #21
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    Mar 2020
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    178
    We should have confidence in our trade but overconfidence can be dangerous and you can lose your money when you are overconfidence and invest your money and sure that you will 100% make money but you can not and it will be very dangerous for confidence and you can lose your confidence and can leave the trading field.

  22. #22
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    Mar 2020
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    Surprisingly, there are quite a lot of self-confident people who think that they are better than the rest and never hears the advice of other people.

  23. #23
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    Apr 2020
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    Self-confidence is really quite a difficult problem, and it obviously does not go plus when you trade forex, and indeed in life.

  24. #24
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    Jan 2017
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    According to me, restrain from emotions it not possible completely because of common human nature. But of course by proper trading discipline we can control our emotions when trading practically. So we have to emphasis on the trading discipline.

  25. #25
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    Apr 2020
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    Unfortunately, discipline is now often forgotten. Everyone thinks only of themselves. It is commonplace for them not to think about the results of their activities for others.

  26. #26
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    Apr 2016
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    603
    A very disturbing feature of overconfidence is that it often appears to be poorly associated with knowledge - that is, the more ignorant the individual, the more confident he or she might be. In the Forex market if a trader have this attitude he may tend to lose the invested money.

  27. #27
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    Apr 2020
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    So what is the essence of the project? And then they came up with so many projects, and there is nothing to do with them - only to earn very little money.

  28. #28
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    Aug 2020
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    157
    Being overconfident is very bad. Initially I was overconfident but now I am not over confident. But there was time when I used to get over confident at my earlier life trading. Whenever I won 2 or 3 consecutive trades, I became overconfident. As a result I used to open more low probability trade and incured loss. But at present I am not like that. Now I only open trade if it meets my checklists criterion. If I do not get any set up, I do not open any trade. For my trading I use Eurotrader broker after tried many brokers. . I am here in this broker since it is a regulated broker and has tight spreads. I likewise can withdraw my cash quickly.

  29. #29
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    Jul 2020
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    734
    It is worth noting that in trading it is always worth paying attention to confidentiality. This is an important aspect and it is important for each trader.

  30. #30
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    May 2020
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    Due to a lack of experience, we do not know how to control our emotions, our behavior, and when we are told that we need to be confident in ourselves, we sometimes cross the line and self-confidence comes, which is not useful.

  31. #31
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    Apr 2020
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    Does someone even work with this project? He noted that now there are many not the most profitable projects, but the number of them is sky-high.

  32. #32
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    Apr 2020
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    So someone will answer what is the essence of the work of this project? And then no one wrote a lot of screenshots of normal information.

  33. #33
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    Apr 2020
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    I really do not like a similar format for submitting information when nothing is clear. The project might be interesting, but nothing is clear. What is the essence of this - I do not understand..

  34. #34
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    Aug 2020
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    46
    It's so simple: they provided information that doesn't explain or tell anything, because of this the impressions are spoiled.

  35. #35
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    May 2020
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    In my opinion, this is another not the most reliable project to work with. Although, perhaps there is a desire to earn a penny on such a job.

  36. #36
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    Apr 2020
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    I look at the withdrawal amounts and the question arises. They mainly withdraw the dollar, or a little more. Is it really profitable to work in such amounts?

  37. #37
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    May 2020
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    Well, okay, laugh, can someone explain the essence of the project? Usually they do it even if you don't ask. And then it's even surprising))

  38. #38
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    Nov 2020
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    You always need to remember and understand that self-confidence and confidence are 2 different things, and if confidence gives you the opportunity to develop the right direction and achieve a result, then self-confidence only destroys everything

  39. #39
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    May 2020
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    So tell us at least what is the essence of your project? Just invest and lose money, or can you please with something else during this period?

  40. #40
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    May 2020
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    I've always wondered - how much money can such projects give? I just usually see that very little money is being withdrawn from them.

  41. #41
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    Jun 2020
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    200
    As a new trader, you must first learn. It is not possible to survive in Forex without learning and trading. You can never make a profit without knowledge and discipline. Because Forex is not an easy thing, it is not possible to make a profit by joining trading here. Lots of research is needed here. I trade under the Forex4you broker. This broker manages all the activities of their broker through a lot of honesty and friendly behavior.

  42. #42
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    May 2020
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    So all the same, tell the essence of the project? And then no one says anything, but just show information from time to time, where you withdraw a few dollars.

  43. #43
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    Apr 2020
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    I often see similar projects. Most often, they do not bring special results, mainly - a small profit. But for a beginner may be quite suitable.

  44. #44
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    Jul 2020
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    162
    Anything which is extra is not good. And I mean anything. In this market you must need to have confidence but over-confidence can make you mind dead. And trust me that's not good at all for trading. You need to stay sharp and know the fact you can not always win. But using having proper training and support can build up your confidence. Like my broker Eurotrader helps me a lot with their great services like, tight spread, swap free account, fast withdrawal etc.

  45. #45
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    May 2020
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    I wonder if people are still working on such projects now? Just interesting, because there are quite a few more interesting projects to work with, which are more interesting.

  46. #46
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    May 2020
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    I've always wondered how much people are investing in such projects? For a few dollars? What is the general interest in working with such projects?

  47. #47
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    Dec 2020
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    Quote Originally Posted by malopis View Post
    I've always wondered how much people are investing in such projects? For a few dollars? What is the general interest in working with such projects?
    Forex trading generally means that you need to invest in a Trading Account. How much you will invest depends on your Trading Goals also. For those Forex traders who are Newbie the starting Deposits could be from 100 USD.

  48. #48
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    May 2020
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    Still, what do you think - is it worth investing in such projects? It certainly sounds ridiculous, but does someone work with them? Or not?

  49. #49
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    Apr 2020
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    Honestly, I did not appreciate the advantages of this project. I use a broker from Amarkets to work, and I like this option a lot more.

  50. #50
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    May 2020
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    So the essence of the project is in payments of several dollars? If so, how long does it take approximately to earn this amount? just wondering...

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