Excessive confidence in cryptocurrency trading.

[imstillthebest]

Some traders and investors think that when trading with crypto currency, one must be bold and confident and make quick decisions. Is excessive confidence in cryptocurrency trading better than doubt and fear, or is it a big drawback?

Confidence and fears are both part of being traders

You are confident when you see the coins/token You bought are doing good and that is reality

But when the said coins/tokens starts to drops value then the fear took over and you will start to panic

The best thing to do is manage this both for a good results of decision making

Why would you feel a fear if you are already confident about the coins that you choose to buy and trade ?  In trading you cant feel both fear and confident but you must only choose one  .  you choose bieng confident and continue your trades even when the market is in bad condition or listen to your fears and not enter the trading scene at all  . basic

[G2z_Riya]

Not only with trading, on each and everything there should not be over confidence or excess confidence. In history itself one can find more such incidents were kings have lost to their enemies just because of the over confidence that the king has over his soldiers..

[Pffrt]

If you are a long term holder, you will not of course consider the difference of bucks. So, it's not matter to make quick decision here. But when you are a day trader, you must have to take decision instantly so that you don't lose the opportunity.

[ReiMomo]

Some traders and investors think that when trading with crypto currency, one must be bold and confident and make quick decisions. Is excessive confidence in cryptocurrency trading better than doubt and fear, or is it a big drawback?

Based on the experience i would say. All who say it might not have succeeded but yes who are into it for decades know how a decision should be made. This is not all about confidence, this is all about the time and the market growth when you are into trading. Confidence, patience are best characters which should be practiced.

[Lanatsa]

Some traders and investors think that when trading with crypto currency, one must be bold and confident and make quick decisions. Is excessive confidence in cryptocurrency trading better than doubt and fear, or is it a big drawback?

Based on the experience i would say. All who say it might not have succeeded but yes who are into it for decades know how a decision should be made. This is not all about confidence, this is all about the time and the market growth when you are into trading. Confidence, patience are best characters which should be practiced.

Patience and Confidence does really contradicts when it comes on possible action would be made depending on which one you do follow. Patience do wait and Confidence is immediate action.
All excessive things will really lead into problem.Lets talk about excess confidence which with this, your decisions do made will be on a hurry yet you are quite sure on your analysis but not most of the time your
predictions and analysis would be right.So,it would end up on frustration and same goes with patience, too much of it will really lead to loss where you do missing out the golden opportunity to sell.

[Willitivity]

Well, you need to be confident in what you are doing in order to put in your best in it, therefore having some degree of confidence is necessary. However, when it becomes excessive, it can really get bad because you won't be able to think rationaly and see how things would go. But overall, being confident is better than being consumed in fear and doubt.

[XbladedThanos]

Is really a good thing because one minute thought can kill your chance at making some serious money When trading making decision quickly normally save you from losing out although it will be good to watch carefully than making it hot just have some principles on trading and be quick

[kagtaviy_mo]

Hello. You just need to understand what you are doing. Understand what and how? Then the question of over-confidence will disappear by itself. Knowledge is power.

[Choyor]

With full confidence it is good, but it must be in accordance with our abilities, meaning that we are always optimistic in doing things, with confidence that we can do it, but it would be good if doing something must be careful.

[LUCKMCFLY]

Confidence is not so good, because at any time the analysis can fall with an increase or fall of bitcoin, it is always good to know when to enter the market, but you should never assume or trust. The market can give a surprise not very pleasant.

[miropp]

Overconfidence doesn't do any good. I think so. Traders should always consider all possible scenarios. Fear and uncertainty can protect them from rash actions. I think that everything should be in moderation.

[michellee]

Some traders and investors think that when trading with crypto currency, one must be bold and confident and make quick decisions. Is excessive confidence in cryptocurrency trading better than doubt and fear, or is it a big drawback?

I believe that having excessive confidence will not good for traders because it will give effects that we can always make a profit in any situations. We will underestimate other people skills, and we don't want to listen to other people say.

I would say that it will a big drawback for the traders because they feel that they are superior to the others. We need to stay away from this feeling, and it is important for us always to control the emotion.

[Hannahanto]

Some traders and investors think that when trading with crypto currency, one must be bold and confident and make quick decisions. Is excessive confidence in cryptocurrency trading better than doubt and fear, or is it a big drawback?

As long as you are experienced and sure about the market move of the coins you have invested, then yes well and good to go with quick decision with excessive confidence. But this would not fit to either beginners or the experts at times. Hence, its not bad or wrong to take time in deciding. But once you have decided to move, i would say, do not turn back. Have patience. The current market requires more patience.

[PRESDIR]

With a fairly mature analysis and confidence will answer that doubt
but remember it also takes time to be right.

[radjie]

Some traders and investors think that when trading with crypto currency, one must be bold and confident and make quick decisions. Is excessive confidence in cryptocurrency trading better than doubt and fear, or is it a big drawback?

of course having a strong self confidence in conducting cryptocurrency trading is able to give courage to make a mature decision, because in trading the risks that will be faced of course are in themselves which is dare to take the right action

[bitcoiner.psn]

That's the way it is ,in critical moments, you can make right decisions by your tact that you have already learned, eventually ,you will take quick decision in risky time. perhaps ,all of the decisions  is'nt entirely correct, but according to your knowledge is the best choice can possible to happen.

[bitcoiner.psn]

Trust in Cryptocurrency & trust in a decentralized system is as equitable matters. I do'nt know ,Where do come from all these shocks and the buzz about crypto ? You think that routine life does'nt have a risky pose? However,  I personally prefer to help to improve human generation.

[Ozero]

Some traders and investors think that when trading with crypto currency, one must be bold and confident and make quick decisions. Is excessive confidence in cryptocurrency trading better than doubt and fear, or is it a big drawback?

In my opinion, it’s not about courage and speed of action. Trading on the stock exchange requires good market knowledge and relevant experience. Then actions will be taken confidently, correctly and on time. In general, in my opinion, it is better for a trader to act on the cryptocurrency market cautiously than boldly, because mistakes cannot be avoided, and with careless actions errors will multiply and increase.

[chitamita]

Some traders and investors think that when trading with crypto currency, one must be bold and confident and make quick decisions. Is excessive confidence in cryptocurrency trading better than doubt and fear, or is it a big drawback?

In my opinion, it’s not about courage and speed of action. Trading on the stock exchange requires good market knowledge and relevant experience. Then actions will be taken confidently, correctly and on time. In general, in my opinion, it is better for a trader to act on the cryptocurrency market cautiously than boldly, because mistakes cannot be avoided, and with careless actions errors will multiply and increase.

this is gold. speed in trading is a double-edged sword, while speed allows capitalizing on short time interval opportunities, for majority of normal trader (myself included) striving for speed will more often than not mean less thoughts were put into making that trading decision, costly decision.

[ethereumhunter]

Some traders and investors think that when trading with crypto currency, one must be bold and confident and make quick decisions. Is excessive confidence in cryptocurrency trading better than doubt and fear, or is it a big drawback?

In my opinion, it’s not about courage and speed of action. Trading on the stock exchange requires good market knowledge and relevant experience. Then actions will be taken confidently, correctly and on time. In general, in my opinion, it is better for a trader to act on the cryptocurrency market cautiously than boldly, because mistakes cannot be avoided, and with careless actions errors will multiply and increase.

With learning about the market itself, it will give us confidence to trade so we could know how to react with the market. But never overconfidence because we will never make any profit or we will lose the money. Overconfidence will not bring good things for our life, and we could lose so many good chances because we don't want to open the eyes to take a look at the opportunity in the trading.