Excessive confidence in cryptocurrency trading.

[Janation]

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?

To be honest, I don't understand what kind of confidence we're talking about. If these traders mean to buy cryptocurrency confidently, without analyzing the market at all, then I do not agree with their point of view. I believe that cryptocurrency trading should be conducted as carefully as mine clearance in a minefield.

What confidence are you thinking?

I am taught that all of the things that are too much is bad.

Confidence is a good thing but being over-confident is not. There are a lot of people that are so over-confident and almost all of them fell from those great heights. I just hope they learned their lesson from that. The market we are dealing with is unpredictable, that is why we should not be over-confident since that will be our downfall.

[Magkirap]

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?

To be honest, I don't understand what kind of confidence we're talking about. If these traders mean to buy cryptocurrency confidently, without analyzing the market at all, then I do not agree with their point of view. I believe that cryptocurrency trading should be conducted as carefully as mine clearance in a minefield.

In my opinion i think it's not "without analyzing the market" it is about being over confident with your analysis that you don't think losing at all and you always expect to see what you predicted which is a bad thing have because yes we should be confident with our strategy or analysis but we also need to be ready about the bad things, we should have a plan b or something.

[bohr]

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?

To be honest, I don't understand what kind of confidence we're talking about. If these traders mean to buy cryptocurrency confidently, without analyzing the market at all, then I do not agree with their point of view. I believe that cryptocurrency trading should be conducted as carefully as mine clearance in a minefield.

What confidence are you thinking?

I am taught that all of the things that are too much is bad.

Confidence is a good thing but being over-confident is not. There are a lot of people that are so over-confident and almost all of them fell from those great heights. I just hope they learned their lesson from that. The market we are dealing with is unpredictable, that is why we should not be over-confident since that will be our downfall.

And that is the issue with overconfidence, all of those people that feel overconfident about their skills feel that they cannot do wrong, that everything that they do is right and that everyone else is wrong so they have a tendency to disregard the opinions of those that disagree with them, and it doesn't matter your level of skill at some point you are going to be wrong and the person that is overconfident is never going to realize it and he might end up being bankrupt never understanding how he got there.

[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?

having a strong trust in trading is very necessary because in this way we must be able to take bold actions to eliminate any worries or doubts in it. But if you have excessive trust, of course you should avoid it, especially if the coins we trade are not potential coins and are too trusted if the coins will develop in the future, then there is a possibility that later we will find it easy to lose the money we trade on the coins that we believe in.

[Savemore]

Even if you have a lot of confidence but your knowledge about trading is not enough then still you will lose money. There should be balance between your skills, your knowledge and also your self confidence while trading. Those 3 are important characteristics and all of traders should have it to perform and execute well in trading.

[lienfaye]

Even if you have a lot of confidence but your knowledge about trading is not enough then still you will lose money. There should be balance between your skills, your knowledge and also your self confidence while trading. Those 3 are important characteristics and all of traders should have it to perform and execute well in trading.

Indeed confidence is useless if you dont have the character that trader should have like knowledge, skills and strategy. Its necessary and a key to become a successful trader. Thus take time learning to be able to do the right thing as a trader because many traders are committing the usual mistakes for not having enough knowledge on what they are doing.

[Orochimarukin]

Too much of everything is bad, so definitely being too confident will earn you losses quickly: you'll hold positions you should get out of because you'll feel the market will move in your favour, chances are you'll become reckless and that can never be a good thing in the highly volative crypto market.

[DevilSlayer]

Even if you have a lot of confidence but your knowledge about trading is not enough then still you will lose money. There should be balance between your skills, your knowledge and also your self confidence while trading. Those 3 are important characteristics and all of traders should have it to perform and execute well in trading.

Indeed confidence is useless if you dont have the character that trader should have like knowledge, skills and strategy. Its necessary and a key to become a successful trader. Thus take time learning to be able to do the right thing as a trader because many traders are committing the usual mistakes for not having enough knowledge on what they are doing.

Confidence is important but make sure you will not be a boastful person where you are overconfident in making decisions. Confidence is the key to make execute our decisions very well but excessive confidence can lead to major losses especially if the trader doesn't have enough knowledge and skills. There should be balance where the traders should be confident and also have right knowledge.

[huige007]

Too much of everything is bad, so definitely being too confident will earn you losses quickly: you'll hold positions you should get out of because you'll feel the market will move in your favour, chances are you'll become reckless and that can never be a good thing in the highly volative crypto market.

This is a simple rule of nature that even excess of love makes you feel suffocated. Excess of confidence makes you overconfident which is a sure sign of your doom in any profession. Often with overconfidence you ignore minor details and take wrong decisions. I believe that we shall never become damn confident about crypto coins that we are betting with because the market is volatile and your coin start going down anytime.

[iram3130]

Thats definitely a strategy to trade but cant say it will work out most of the time. Its better to research and look into the project before becoming confident on your investment. After the last ATH of BTC, most of the overconfident traders have lost their money in alt trading so it is not advisable in this much fluctuation.

[Gheka]

Even if you have a lot of confidence but your knowledge about trading is not enough then still you will lose money. There should be balance between your skills, your knowledge and also your self confidence while trading. Those 3 are important characteristics and all of traders should have it to perform and execute well in trading.

Indeed confidence is useless if you dont have the character that trader should have like knowledge, skills and strategy. Its necessary and a key to become a successful trader. Thus take time learning to be able to do the right thing as a trader because many traders are committing the usual mistakes for not having enough knowledge on what they are doing.

Confidence is important but make sure you will not be a boastful person where you are overconfident in making decisions. Confidence is the key to make execute our decisions very well but excessive confidence can lead to major losses especially if the trader doesn't have enough knowledge and skills. There should be balance where the traders should be confident and also have right knowledge.

Agree, many traders have great qualities to improve their ability to make money in trading but with an excessive confidence, more accurately, they are feeling too proud of their skills, it turned them into a brag and this is also their deadly weakness when they always put too much money into decisions, lacking the necessary humility. Therefore, a successful trader should be accompanied by talent, confidence but somewhere, they should also refrain from expressing too much confidence, modesty will always be a step backward and help them advance higher

[Darooghe]

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 having confidence is good but having excessive confidence is not. The market is a great teacher. The dynamics of the market changes so quickly, and it teaches you or rather punishes you of your excessive confidence very quickly. may be that there is one thing which you do not know about your coin which market knows. that is why an intelligent investor always invest in a portfolio of coins, because even if you may have committed a few mistakes while you are picking some of your coins still you are safe because you can not be wrong with all your coins if you have done your homework properly.

[Apened]

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 having confidence is good but having excessive confidence is not. The market is a great teacher. The dynamics of the market changes so quickly, and it teaches you or rather punishes you of your excessive confidence very quickly. may be that there is one thing which you do not know about your coin which market knows. that is why an intelligent investor always invest in a portfolio of coins, because even if you may have committed a few mistakes while you are picking some of your coins still you are safe because you can not be wrong with all your coins if you have done your homework properly.

Yes and even how confident you are in a trade. I am confident in this past trades but all of a sudden it ruin by a fake pump. But it is not an excessive confidence. I'm just only saying that confidence is will not always guarantee a successful trade but it might give us a positive outcome whatever the trade results is. Just don't be greedy at all.

[bohr]

Even if you have a lot of confidence but your knowledge about trading is not enough then still you will lose money. There should be balance between your skills, your knowledge and also your self confidence while trading. Those 3 are important characteristics and all of traders should have it to perform and execute well in trading.

And unfortunately that balance is never reached, and since gaining skills and knowledge is so hard then most of the traders that we see have a lot of overconfidence but very little skills and knowledge and that is a very dangerous combination in this market when we know that many coins can crash in a matter of days and an overconfident trader is not going to take the necessary steps to correct his position because he believes he is right all the time and that he can do no wrong.

[skiorf]

as traders we must have the confidence and courage to do all transactions in crypto trading, because if not, we will have difficulty getting maximum results. even if we have a fearful nature when trading crypto we can lose money because of the fear of a FUD or something. confidence must be applied wherever we are in the crypto trade or other trades.

[Visbay]

Too much of everything is bad, so definitely being too confident will earn you losses quickly: you'll hold positions you should get out of because you'll feel the market will move in your favour, chances are you'll become reckless and that can never be a good thing in the highly volative crypto market.

This is a simple rule of nature that even excess of love makes you feel suffocated. Excess of confidence makes you overconfident which is a sure sign of your doom in any profession. Often with overconfidence you ignore minor details and take wrong decisions. I believe that we shall never become damn confident about crypto coins that we are betting with because the market is volatile and your coin start going down anytime.

You are right it's not good to be overconfident about anything that you are doing for your living. We should remain moderate and should work hard about anything before taking a decision. While trading you should know that learning is key to success and you can never be enough in your knowledge so keep learning and take a wise decisions.

[the rise]

as traders we must have the confidence and courage to do all transactions in crypto trading, because if not, we will have difficulty getting maximum results. even if we have a fearful nature when trading crypto we can lose money because of the fear of a FUD or something. confidence must be applied wherever we are in the crypto trade or other trades.

self-confidence is a reflection of assertiveness in decision making. fear will be a kind of bad effect that will drain more ways of thinking, the market continues to move in a high routine. But there are several hypotheses about excessive confidence in which traders do not set sl and left to float, if their analysis is not the same as the trend that ultimately differs then it will definitely fail and need a review by experiencing a number of losses.

[bohr]

as traders we must have the confidence and courage to do all transactions in crypto trading, because if not, we will have difficulty getting maximum results. even if we have a fearful nature when trading crypto we can lose money because of the fear of a FUD or something. confidence must be applied wherever we are in the crypto trade or other trades.

It is true that some level of decisiveness is needed if you are to become a good trader, but you cannot let fear or overconfidence take over you and your decision making abilities, both are bad but in different forms, begin afraid of making mistakes will cause you to not take opportunities that are out there, but being overconfident will make you take unnecessary risks and what it is even worse it will make really hard for you to correct those mistakes.

[hahay]

as traders we must have the confidence and courage to do all transactions in crypto trading, because if not, we will have difficulty getting maximum results. even if we have a fearful nature when trading crypto we can lose money because of the fear of a FUD or something. confidence must be applied wherever we are in the crypto trade or other trades.

It is true that some level of decisiveness is needed if you are to become a good trader, but you cannot let fear or overconfidence take over you and your decision making abilities, both are bad but in different forms, begin afraid of making mistakes will cause you to not take opportunities that are out there, but being overconfident will make you take unnecessary risks and what it is even worse it will make really hard for you to correct those mistakes.

But at least with confidence, work and any activity will definitely go well and indeed, sometimes excessive confidence that will produce something that will actually make us suffer because at the same time, at least emotions will also increase due to pressure when making a decision that requires us to make a choice quickly so that there is no longer any good emotional control. So basically everything must be done in a balanced manner because we cannot rely on just one factor to produce something good.

[Zemomtum]

That is exactly what gets most people recked while trading. You should take profit as they present themselves and not be too greedy.