Excessive confidence in cryptocurrency trading.

[Bitcotalk]

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?

Being confident about what you are doing is a good thing but it is not going to give us profits,if we faced losses then it might help us to correct it on the next occasions other than the benefits are nothing.

I think you are confident only when you have knowledge about the things you are dealing with. And when you have knowledge, you no doubt will make money. So I think that it is very important to be confident about what you are doing. You should not really give it just a try to loose your capital in the first chance. Many people do so with little capital to learn and then enter with bit capital to make immense profits.

[Thanasis]

It is not good to be that too confident with your market analysis. Sometimes, being that too confident will affect the momentum of your trades. I will still go with just enough confidence, the unsure feeling that maybe my entry isn't a good one will still make our trading balance as well.

Just confident about where we need to reach in iur trading is enough,that is how much target of profit need to look out matters no matter of how the market is.

[ajaymukund]

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?

Please keep on average. because everything has too much will not bring good results. In the area of investment, the most difficult thing is the balance between reason and emotion.
When emotions are overwhelmed, we will do foolish things. so good investors will never be too confident and subjective. they will always analyze carefully to make the best decision.

[Polar91]

It is not good to be that too confident with your market analysis. Sometimes, being that too confident will affect the momentum of your trades. I will still go with just enough confidence, the unsure feeling that maybe my entry isn't a good one will still make our trading balance as well.

Enough confidence shouldn't be unsure because this can be considered already as doubt which shouldn't be avoided when making trade to keep the emotion intervention away. Whenever we make a decision, we should push it through and also accept if we make errord.

[raven7886]

Excessive confidence means he ready to take any risk that will come. It is what trader must have, because if we always doubt with what we want to act, we will lose chance in trading especially in big volume coin.

But having confidence on the wrong coin will make us to be in losses,so we just keep crypto earnings as one source of income nit us our primary source of income.

It is very important to have confidence in our investment, either in a wrong coin or a good coin but we must not 100% rely on them, this is why I will buy into your idea of not making it one or major source of income. Many people that have invested in wrong coins didn’t actually plan to do so; they might have seen the light in the project when investing.

Including the project members themselves but probably something happened along the line beyond their control that made the project shift from being a good one to a bad one. If we don’t build our confidence in any of our investment, this is where panic selling comes in and eventually makes us to lose it all.

[jakezyrus]

Excessive confidence means he ready to take any risk that will come. It is what trader must have, because if we always doubt with what we want to act, we will lose chance in trading especially in big volume coin.

But having confidence on the wrong coin will make us to be in losses,so we just keep crypto earnings as one source of income nit us our primary source of income.

It is very important to have confidence in our investment, either in a wrong coin or a good coin but we must not 100% rely on them, this is why I will buy into your idea of not making it one or major source of income. Many people that have invested in wrong coins didn’t actually plan to do so; they might have seen the light in the project when investing.

Including the project members themselves but probably something happened along the line beyond their control that made the project shift from being a good one to a bad one. If we don’t build our confidence in any of our investment, this is where panic selling comes in and eventually makes us to lose it all.

Your confidence is useless if you will only invest on badcoins because they wont have a good future and no matter how confident you are of hodling them , your chances of earning a profit will still be zero  .  you will only wait for years and even decades for nothing  , this is why i suggest go only for the top and popular coins such as bitcoin and etherium because even if you are not 100% confident on them , there is still an assurance that you can earn an income .

[Freny250]

Too much confidence on a particular token can be bad since most of what has been promised by team are just whitepaper saying.  As trader learn to trade without emotions always know when to sell and buy any token

[gabmen]

Excessive confidence means he ready to take any risk that will come. It is what trader must have, because if we always doubt with what we want to act, we will lose chance in trading especially in big volume coin.

But having confidence on the wrong coin will make us to be in losses,so we just keep crypto earnings as one source of income nit us our primary source of income.

It is very important to have confidence in our investment, either in a wrong coin or a good coin but we must not 100% rely on them, this is why I will buy into your idea of not making it one or major source of income. Many people that have invested in wrong coins didn’t actually plan to do so; they might have seen the light in the project when investing.

Including the project members themselves but probably something happened along the line beyond their control that made the project shift from being a good one to a bad one. If we don’t build our confidence in any of our investment, this is where panic selling comes in and eventually makes us to lose it all.

Your confidence is useless if you will only invest on badcoins because they wont have a good future and no matter how confident you are of hodling them , your chances of earning a profit will still be zero  .  you will only wait for years and even decades for nothing  , this is why i suggest go only for the top and popular coins such as bitcoin and etherium because even if you are not 100% confident on them , there is still an assurance that you can earn an income .

Well excessive confidence basically means being cocky. And we know that it sometimes that can lead to massive losses. Yes confidence is essential to have a positive attitude and making sound decisions but getting over cocky, especially if you don't have that much asset, can end up pretty disastrous.

[Vitalicus]

It is not good to be that too confident with your market analysis. Sometimes, being that too confident will affect the momentum of your trades. I will still go with just enough confidence, the unsure feeling that maybe my entry isn't a good one will still make our trading balance as well.

My analysis is only accurate at a certain percentage and never reaches 100%. I think don't be too confident in any decisions that we will make ourselves because it tends to go against you. If we know how to divide investment capital and list which bad and good coins will be better. To do that, you need to learn a lot of outside knowledge and apply it to this market

[whaawh]

It is not good to be that too confident with your market analysis. Sometimes, being that too confident will affect the momentum of your trades. I will still go with just enough confidence, the unsure feeling that maybe my entry isn't a good one will still make our trading balance as well.

My analysis is only accurate at a certain percentage and never reaches 100%. I think don't be too confident in any decisions that we will make ourselves because it tends to go against you. If we know how to divide investment capital and list which bad and good coins will be better. To do that, you need to learn a lot of outside knowledge and apply it to this market

I have been watching the cryptocurrency market without interruption for a long time and I expect the implementation of all the positive forecasts that have been made until today. At the beginning of 2019, we should have seen real growth rates of the cryptocurrency market, but we saw only 10% of real growth. It seems to me that you need to pay less attention to forecasts, so as not to get upset.

[bitgolden]

Too much confidence on a particular token can be bad since most of what has been promised by team are just whitepaper saying.  As trader learn to trade without emotions always know when to sell and buy any token

Sometimes we just have to allow our intuition play a bit which is quite better than building extreme confidence in a token like you mentioned, though we still need to have certain element of trust in whatever token we are holding because that is what will give us the freedom to be able to talk positively about the coin which you and I know that positive news has a way of strengthening the particular coin.

What has gotten Bitcoin so far now and still keeps it going is because of the communities spreading good news about it because of the confidence they have built and this action mostly attracts new investor that will come in and strengthen the price.

[Wexnident]

It is not good to be that too confident with your market analysis. Sometimes, being that too confident will affect the momentum of your trades. I will still go with just enough confidence, the unsure feeling that maybe my entry isn't a good one will still make our trading balance as well.

Enough confidence shouldn't be unsure because this can be considered already as doubt which shouldn't be avoided when making trade to keep the emotion intervention away. Whenever we make a decision, we should push it through and also accept if we make errord.

Excessive confidence and emotionally responsive (negatively) on the market is very dangerous especially when day trading, it should not be the basis of trading, it should be the analysis (technicalities) on a certain coin we are trading. Don't worry if you lose a trade, we are all flawed and entitled to commit mistakes in an uncertain industry like this.

[futile-resistance]

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?

Having so much confidence in the market will make you too familiar with the market, and once you become familiar with the crypto market, it becomes so hard for you to prefect how the market will go because crypto is very volatile and can go anyway it chooses to go.

I think what will make one gain a lot is learning the tactics and analyzing the market accurately in order to be sure about a market before buying into it.

Excessive confidence is made in something on the basis of knowledge of that thing.
If you have the knowledge about cryptocurrency. I assume you would call it the future of the financial market, then it is a good thing to have huge confidence in cryptocurrency because I have the same concept about cryptocurrency.

You should be holding coins of great potential fir long may be ten years from now and they will be big things not even predicted yet.

[BigBrother]

I think that over-confidence may not always help. Sometimes this can have a negative impact because due to excessive confidence the trader may not notice some points that are worth paying attention to when making trades.

[DeadCoin]

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?

Depends upon how experienced you are. The more you are experienced, the more you can be strong and bold enough in handling trading. At times it does not help though being an experienced as it depends on market condition and its fluctuation. Try investing in multiple coins to avoid losses which will uplift your confidence more.

[Bijikopi]

In cryptocurrency trading, each trader should develop a strategy that takes into account the basic rules of cryptocurrency trading. Next, the trader should confidently stick to his strategy, know the market well and listen to his intuition.

high confidence is needed for a trader. if we think we want to get a profit then we will always have high hopes, that also happens to a crypto trader, the value of a fast-changing bitcoin indeed requires high intelligence and also great expectations. so high confidence can be our big capital to be able to achieve success.

[BigTeeths]

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?

That excessive confidence should be backed up by news and progress and not just because you only want to feel that way in your coins. It's just like you are your own pump and dump group hyping it to everyone. If you are confident to your coin because it is a great project then that is good but if its a shitcoin then that ain't right and you should feel doubt and fear if you haven't profited or sold it yet.

[Noa_Amable]

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?

well, one mustn't go such straight forward. just keep it in the middle, some moderate trading. make it a hobby which takes 1-1.5 hours a day, use stop loss and take profit.

[Flowtee]

I really dont get the question. Overconfidence as well as fear is never a good teacher,no matter what you are doing. Nevertheless you have both sides in you, depending on how much you know and how you feel about something. Try to learn as much about cryptos as possible and trade as objective as possible.

[justspare]

depending on how much you know and how you feel about something. Try to learn as much about cryptos as possible and trade as objective as possible.

I think what he is just trying to say is if it is good to have full belief in the cryptocurrency one is trading without having feared or doubt about it. I guess there cannot be any general definition on this as trading an asset includes lots of factors which may change over time. When factors are varying over time, not getting panic will not be possible all the time for a common trader.

A trader must have to actually believe in his investment that it will yield a positive result but once you are too overconfident in it make a trader blind to quickly see any calamity they may be trying to befall the trade at that time, one must not fear in one’s trade but you must still fear for the market, the marketcap might collapse if there is no much buying going on in the trade and if one does not always have this at the back of one’s mind, necessary precaution that one need to put in place will be missing.