Are you overconfident?

Being confident when trading forex it is important, but one thing is to believe that your system can work in the long run and it’s another thing to be overconfident and thinking that you know everything about forex trading and that there’s no possible way you can lose.

Yes I am. It’s hard not to be when you have made almost 75% in three weeks like I have. :27:

Lol 75% .That’s cute.

Very much so. Otherwise I wouldn’t be trading. However, whenever my trades go against me I turn into the exact opposite and start doubting myself and my strategy. I guess it’s a human trait.

Nice to see people still measure their e-penis with gains from a one month winning streak.

Am not overconfidence because the market changes at any time. Maybe am a newbie that is why am not over confidence but as time goes on I will.

A friend of mine says, you have to be careful when you start to believe your own BS. Confident a good thing, over confident dangerious

I guess, like most traders, I am a tad overconfident especially when the market trends in the right direction…but there’s a differrence to being overconfident and then there’s “overconfident” - the former is more or less a belief rooted in the trader’s strategy, the later, is more or less just a belief built on a wing and a prayer rather than any strategy…

Never sure where the boundary between the two lies. In my early days as a trader, my confidence would shoot through the roof over the weekend as I analyzed the missed chances, tight stops and what I could have made over the past week.
Well this would dip to the floor right about Wednesday evening when I found myself repeating the same error, then shoot backup on friday just before the markets froze.
Fast forward, almost 8 years later, I don’t care. Somehow experience teaches you how to detach your confidence from trading :slight_smile:

Nowadays I cannot make the difference between a joke and a real thing anymore.
Rambo, if you tease us it’s fine with me. If you want advice then publish you account buddy, and then we talk.

If you feel the market deeply then the overconfidence doesn’t make any difference . That’s just the confidence can help you psychologically.

When it comes to confidence in my trade discipline i find myself more at a loss for words because when you’re in the “zone” you really don’t know what the heck is going on you’re just in awe to be in the flow of price. Maybe that was deep but i’m sure some of you can relate.