Excessive confidence in cryptocurrency trading.

[DevilSlayer]

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.

Confidence is good in trading but excessive confidence is bad to our performance. We can become a arrogant person if we have excessive confidence. We are not perfect human so there are still a lot of information that we do not know. Be a humble person where you can know your limitation. People are making mistakes because of excessive confidence. I do not say that we should not make mistakes, what I mean is we should not be a arrogant person and we should be a humble person with a confidence.

[Assface16678]

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.

Confidence is good in trading but excessive confidence is bad to our performance. We can become a arrogant person if we have excessive confidence. We are not perfect human so there are still a lot of information that we do not know. Be a humble person where you can know your limitation. People are making mistakes because of excessive confidence. I do not say that we should not make mistakes, what I mean is we should not be a arrogant person and we should be a humble person with a confidence.

Many people think trading is just simple, and then you can earn a lot of simple in just a single day. Trading is full of hard work and skills because basic knowledge is not enough to earn a profit. Even you know a little knowledge of trading, it is not enough. Still, we need to learn something new to improve the techniques and skills we can use in the future. In trading, we must be confident because in the first place we know there is a risk on this transaction if we invest at the early time it has a cause of loss of income, but if you manage your self, you can get more profit than losing money.

[cryptoloverlife]

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

Yes, we shouldn't be greedy in the market while we are making a profit because we should safeguard the profit aside, we don't know when the market will lose its value. A trader shouldn't be greedy for making a fast profit, this may lead to losing more value of your asset. So we should plan them wisely and we should react according to the market situation.

[Murat]

Excess is not good for anything, In trading with the cryptocurrency world, you need to be very careful and cautious to this system, I think you need to be brave but you have to take your every decision based on your own view, I think day by day this cryptocurrency world is getting complicated and competitive so you are not the only person to be here, if you are a professional trader then the case is different, but overconfidence sometimes kills you, but I think for the short term trading purpose, you need to get couraged to take some decision regarding Trading.

[atjiat]

Excess is not good for anything, In trading with the cryptocurrency world, you need to be very careful and cautious to this system, I think you need to be brave but you have to take your every decision based on your own view, I think day by day this cryptocurrency world is getting complicated and competitive so you are not the only person to be here, if you are a professional trader then the case is different, but overconfidence sometimes kills you, but I think for the short term trading purpose, you need to get couraged to take some decision regarding Trading.

Of course, each trader will have his own personal opinion on this issue, but despite the fact that I still have very little experience in cryptocurrency trading, I believe that the current state of the cryptocurrency market will not allow me to achieve good results.  I hope at least a small income from my activities, because very often I lose than earn.  Perhaps when the cryptocurrency market will have a bullish trend, thanks to new investments, it is possible then that the user will be able to get real experience in trading, and not the stressful experience that I get today.

[fullhdpixel]

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?

They are all the same thing. Imagine that you’re doubting a good price prediction and all of a sudden there is a bull run and then you miss out from the profit you would have made if you invested at the early time, so that’s what doubt have caused you.

Although the good thing is that you only missed out on a good opportunity to buy, but you didn’t lose your money. Now, it gets worse when you start having fear, or like we do say – FOMO. You then happen to rush in out of FOMO and boom, the price crash and you lose your money. Having too much of confidence is close to having fear, so you should try to keep yourself in check. There are people who would be having any of these and they hardly notice it.

[bohr]

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

Yes, we shouldn't be greedy in the market while we are making a profit because we should safeguard the profit aside, we don't know when the market will lose its value. A trader shouldn't be greedy for making a fast profit, this may lead to losing more value of your asset. So we should plan them wisely and we should react according to the market situation.

We cannot really avoid being greedy in this kind of market, it is obvious that if you are a trader that you are doing it because you want to obtain more money than what you have and that is being greedy, the problem is when your greed reaches levels that no matter what you do it is going to be impossible for you to fulfil your goals, you should always keep your greed in check otherwise you run the risk of greed taking control of your decisions and that always spells disaster for anyone that allows that to happen.

[Harriti]

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?

Actually it is a great advantage. because there are many people who have good knowledge but then they have doubts about trading methods, and then they miss the opportunity. Self-confidence is a necessity, but to make the most of it, we should have a cool head. We need capital management skills and always set stoploss to avoid the great risks to our account. Those who are confident but lack the discipline to work will become a major drawback.
Therefore, we need to cultivate a lot of capital management skills so that we can trade effectively and raise its confidence to a new level of efficiency.

[TitanGEL]

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.

It is really dangerous so we should not become a trader who have excessive confidence. There should be balance between our confidence and our knowledge. The thing is many people are becoming ignorant because of over confidence. They thought that can win in every trade and it causes a bug loss. Confidence is good but there should always be a limit.

[bitbunnny]

If you don't have self confidence better don't trade. True, confidence usually comes with experience and knowledge but still at the very begininig you have to beleive in what you are doing. Otherwise you will make your decisions very hard, often hesitating and without firm direction and that usualy doesn't end well.
However, too much confidence can also be bad for trading because you will not be cautious enough and you might igmore warning signs.

[Duzter]

If you don't have self confidence better don't trade. True, confidence usually comes with experience and knowledge but still at the very begininig you have to beleive in what you are doing. Otherwise you will make your decisions very hard, often hesitating and without firm direction and that usualy doesn't end well.
However, too much confidence can also be bad for trading because you will not be cautious enough and you might igmore warning signs.

Not only with cryptocurrency trading, with anything there shouldn't be excessive confidence. When we are into it, this will make us take it easy expecting assured returns. Most of the time such scenarios can be seen much on games. With trading lot of learning is required so to make the plans get executed without much complications.

[doomloop]

If you don't have self confidence better don't trade. True, confidence usually comes with experience and knowledge but still at the very begininig you have to beleive in what you are doing. Otherwise you will make your decisions very hard, often hesitating and without firm direction and that usualy doesn't end well.
However, too much confidence can also be bad for trading because you will not be cautious enough and you might igmore warning signs.

Not only with cryptocurrency trading, with anything there shouldn't be excessive confidence. When we are into it, this will make us take it easy expecting assured returns. Most of the time such scenarios can be seen much on games. With trading lot of learning is required so to make the plans get executed without much complications.

Too much of confidence makes you take decisions without pondering over all details of the situation and you simply rely on your small knowledge. Often what appears to you easy is the real tough thing and this is what happens with most of the traders in day trading. They simply take it for granted I mean the moves of the market and keep buying or selling coins without following market trends ultimately going in loss.

[joshy23]

Excess is not good for anything, In trading with the cryptocurrency world, you need to be very careful and cautious to this system, I think you need to be brave but you have to take your every decision based on your own view, I think day by day this cryptocurrency world is getting complicated and competitive so you are not the only person to be here, if you are a professional trader then the case is different, but overconfidence sometimes kills you, but I think for the short term trading purpose, you need to get couraged to take some decision regarding Trading.

You are inside a place where all the people have the same goals in life, you need to protect yourself being victimized by wrong decisions and miscalculations be wise and keep your competitiveness upfront. Don't think that you already have the edge instead, keep learning and enhancing your strategy be able to adjust once it's needed to do your adjustment keep in mind that it's your money that you need to protect.

[alan2here]

If you don't have self confidence better don't trade. True, confidence usually comes with experience and knowledge but still at the very begininig you have to beleive in what you are doing. Otherwise you will make your decisions very hard, often hesitating and without firm direction and that usualy doesn't end well.
However, too much confidence can also be bad for trading because you will not be cautious enough and you might igmore warning signs.

There are many ways to make money in this market and if you are not confident, you should spend time studying to improve yourself before you are confident to trade. I think currently the crypto market is very difficult to predict and even a small mistake will make you lose so it is best not to risk because the risk will be very high.

In fact, long-term investment in some major coins like Bitcoin or Ethereum will bring you some huge profits if the market in 2020 gets better because this is the year that is expected to be very promising.

[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.

It is really dangerous so we should not become a trader who have excessive confidence. There should be balance between our confidence and our knowledge. The thing is many people are becoming ignorant because of over confidence. They thought that can win in every trade and it causes a bug loss. Confidence is good but there should always be a limit.

There should be a limit to our confidence and that limit in my opinion should be our skills, I am confident on my skills but that is because I have worked very hard on them and I know that what I am doing in the long term will give me profits but it is not going to happen immediately so I need to keep trading in the way I know for a long time and most likely wait for the next bull run to see the profits I am looking for, but many traders believe they can generate huge profits regardless of how the market is moving and that is not true.

[moviebuff777]

You should be confident and decisive in trading decisions. However, you should also be prepared for the market to not act in a way that you expect. In these situations, you should know in advance how to react to that market move.

In other words, always have a plan no matter  which way the market moves.

[boris singer]

self-confidence always appears automatically every time a trader gets a profit, various positive attitudes emerge and underlie the decision for the next order. To remain balanced, the profit target of the portfolio must be fully achieved close to 100%. If the opposite means it must be recognized as a weakness, and must find where the decision point that failed must be corrected or the condition will immediately turn into worsening anxiety.

[gabmen]

self-confidence always appears automatically every time a trader gets a profit, various positive attitudes emerge and underlie the decision for the next order. To remain balanced, the profit target of the portfolio must be fully achieved close to 100%. If the opposite means it must be recognized as a weakness, and must find where the decision point that failed must be corrected or the condition will immediately turn into worsening anxiety.

I'm not sure if that's even good. A winning streak could mean the person would become too cocky with his or her trades. There's a difference between being confident in what you're doing and being recjless and cocky. The latter happens more often with newbie traders. Of course one needs to believe in himself and his ability to make efficient market readings to be a good trader. Though it's also essential that he know his capabilities and assets.

[KnightElite]

self-confidence always appears automatically every time a trader gets a profit, various positive attitudes emerge and underlie the decision for the next order. To remain balanced, the profit target of the portfolio must be fully achieved close to 100%. If the opposite means it must be recognized as a weakness, and must find where the decision point that failed must be corrected or the condition will immediately turn into worsening anxiety.

I'm not sure if that's even good. A winning streak could mean the person would become too cocky with his or her trades. There's a difference between being confident in what you're doing and being recjless and cocky. The latter happens more often with newbie traders. Of course one needs to believe in himself and his ability to make efficient market readings to be a good trader. Though it's also essential that he know his capabilities and assets.

Too much confidence can sometimes make us an ignorant person. We think that we are superior to others and sometimes we think we are always right even we really do not know what we are doing. Confidence is important because it can help us to execute our trade carefully. What I am saying that our confidence should have limitation because too much confidence can affect our trade execution.

[bohr]

self-confidence always appears automatically every time a trader gets a profit, various positive attitudes emerge and underlie the decision for the next order. To remain balanced, the profit target of the portfolio must be fully achieved close to 100%. If the opposite means it must be recognized as a weakness, and must find where the decision point that failed must be corrected or the condition will immediately turn into worsening anxiety.

Your confidence must come completely from your skills and the processes that you take to make your trade and not from the results you are getting, I say this because even if you are a profitable trader there are times in which the market will simply seem to always be moving against you but when you check if you have been doing something wrong you find out that is not the case and you are just being unlucky, but if you lose your confidence because of your results you could easily make a mistake that you could have avoided.