Excessive confidence in cryptocurrency trading.

[huige007]

Trading really needs confidence in a right timing. Risk takers are more successful than those lesser ones. Though the risk is also higher but mostly if the timing is good they'll definitely make best profit. Excessive confidende may sometimes fail. Some are very aggressive to the point that they missed out some factors to consider. However, excessive confidence also gives a strong and determine traders.

Confidence is a factor that counts n trading. Actually one has to make some quick decisions. No one knows that the coins he is going to invest into would lead him to a profit at the end. This problem could be solved with help of the consultants who can give you some reasonable suggestions for choosing between the coins. Moreover previous experience regarding crypto trading could also be beneficial in such circumstances.

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[bohr]

Confidence comes from knowledge and expectation of success because of your knowledge. Confidence is the vehicle practical application. If you fail in actual trading, I have no idea how you can be excessively confident, maybe you can still remain just confident and think that you'll learn from these faults and it's just a combination of steps that you need in order to succeed, after a lot of success, then excessive confidence really comes. If you experience so huge confidence without actual experience in cryptocurrency trading, then I think there is something wrong or you may just naturally have a lot of dopamine.

You are describing the process a rational trader will have when it comes to his confidence, but there are many irrational traders out there, as much as I will like for things to be different there are many traders that are in fact gamblers and they do not really have any way to process information in the same way that we do, when I lose a trade the first thing that I think about is what I did wrong, sometimes I find something and I correct it but sometimes that was a normal loss and I just have to accept it, but the gambler doesn't think that way and it doesn't matter why he got a loss he cannot accept it and he tries to make another trade to regain the money that he lost because he is overconfident in his skills.

[oktana]

I used to be this kind of trader back then. When I experience a small profit, I feel that I can do it again and earn a bigger profit and I will keep trading and trading until I start to lose money and I got greedy to recover it resulting into a bigger losses. I used to feel that I am a good trader and I don't need anybody to tell me my mistakes. Nowadays, I don't trade that much and I only set at least 5% profit each day and once I reach that, I just call it a day and wait for the next day opportunity.

You still execute sell orders regularly even though you are impatient with the next step.

in other cases, many greedy traders and waiting for a greater percentage with unreasonable confidence. and finally they realize that they made a big mistake when prices dropped like rockets, you are still better because you can still make the decision to sell.

[Apened]

I used to be this kind of trader back then. When I experience a small profit, I feel that I can do it again and earn a bigger profit and I will keep trading and trading until I start to lose money and I got greedy to recover it resulting into a bigger losses. I used to feel that I am a good trader and I don't need anybody to tell me my mistakes. Nowadays, I don't trade that much and I only set at least 5% profit each day and once I reach that, I just call it a day and wait for the next day opportunity.

You still execute sell orders regularly even though you are impatient with the next step.

in other cases, many greedy traders and waiting for a greater percentage with unreasonable confidence. and finally they realize that they made a big mistake when prices dropped like rockets, you are still better because you can still make the decision to sell.

This is the most common problem to me that i have encountered until this day, i am not that much greedy but i do always wait for confirmation and not selling even the orice jumps or dumps lower. over confidence and trying other styles in trading is too bad thing what i've learn is to put a very small amount of it and try something new.

[affandi]

doubt and fear will make you stay still longer (to think), and excessive belief is also not recommended (makes you not think long), flexible enough seems to be better. in crypto trading the risk of loss always haunts traders, being careful in choosing atcoin and doing research is advised before deciding to buy, all of that is done to avoid losses.

[supercanada1]

I used to be this kind of trader back then. When I experience a small profit, I feel that I can do it again and earn a bigger profit and I will keep trading and trading until I start to lose money and I got greedy to recover it resulting into a bigger losses. I used to feel that I am a good trader and I don't need anybody to tell me my mistakes. Nowadays, I don't trade that much and I only set at least 5% profit each day and once I reach that, I just call it a day and wait for the next day opportunity.

You still execute sell orders regularly even though you are impatient with the next step.

in other cases, many greedy traders and waiting for a greater percentage with unreasonable confidence. and finally they realize that they made a big mistake when prices dropped like rockets, you are still better because you can still make the decision to sell.

You have been a confident trader. Trading is all about how patient you are so that you can wait for the time to come when your efforts are actually going to pay back you in the form of money that was wished to be earned. But overconfidence can lead to severe problems as you start estimating matters in a wrong way that could lead to loss in the end.

[FLoving]

doubt and fear will make you stay still longer (to think), and excessive belief is also not recommended (makes you not think long), flexible enough seems to be better. in crypto trading the risk of loss always haunts traders, being careful in choosing atcoin and doing research is advised before deciding to buy, all of that is done to avoid losses.

It can also be said that ding trade is not the game of doubt or confidence but it is a game of knowledge and research as if a person will learn all about trade and will learn all about the asset in which the trade is expected then he will be okay to start trade and in that neither the confidence nor the doubt can save or waste his money. It will all depend on his knowledge and research which can save his money and can make profit for him.

[bohr]

doubt and fear will make you stay still longer (to think), and excessive belief is also not recommended (makes you not think long), flexible enough seems to be better. in crypto trading the risk of loss always haunts traders, being careful in choosing atcoin and doing research is advised before deciding to buy, all of that is done to avoid losses.

An equilibrium must be reached, you cannot lack confidence, because if you do, you are not going to take profitable trades even when you know that you should, but you cannot be overconfident either because if you are then you are going to refuse to sell your coins when the market is clearly telling you that it is going down, you are going to try to fight the market and that is a terrible way to try to make money because the market is many times stronger than you.

[hahay]

Excessive confidence are indeed not good because we don't need anything excessive to be able to produce something good, but when you have good knowledge then how high or excessive the confidence that you apply, I think it doesn't matter either because the problem in this case is when You apply excessive confidence still not accompanied by good knowledge then it will only make a carelessness that in the end only the loss and suffering obtained.

[Wipeout2097]

Trading is another name of patience and the successful trades are no doubt confident because they have grip on it and knowledge,enough experience abut the market,But without knowledge taking risk and confidence is just gambling.

Professional traders spend more time n analysis and after surety confidently put trade then never believe in any rumor,Here we talk abut excessive confidence so it may sometime become risky and some trader face the losses at the end. Confidence with knowledge bring

[alan2here]

Trading is another name of patience and the successful trades are no doubt confident because they have grip on it and knowledge,enough experience abut the market,But without knowledge taking risk and confidence is just gambling.

Professional traders spend more time n analysis and after surety confidently put trade then never believe in any rumor,Here we talk abut excessive confidence so it may sometime become risky and some trader face the losses at the end. Confidence with knowledge bring

When participating in trading, it is necessary to prepare for the knowledge, psychology and strategies because these are the basic things to become a good trader. I think that in order to succeed, any decision needs to be carefully considered and always has the confidence necessary to help you improve yourself. In fact, not everyone is smart enough to do this because when the market is down, they often show their weaknesses.

Personally, I always confident and take risks when trading because all my decisions will directly affect the current profit so by all means I must ensure profit in this market.

[Savemore]

Trading is another name of patience and the successful trades are no doubt confident because they have grip on it and knowledge,enough experience abut the market,But without knowledge taking risk and confidence is just gambling.

Professional traders spend more time n analysis and after surety confidently put trade then never believe in any rumor,Here we talk abut excessive confidence so it may sometime become risky and some trader face the losses at the end. Confidence with knowledge bring

When participating in trading, it is necessary to prepare for the knowledge, psychology and strategies because these are the basic things to become a good trader. I think that in order to succeed, any decision needs to be carefully considered and always has the confidence necessary to help you improve yourself. In fact, not everyone is smart enough to do this because when the market is down, they often show their weaknesses.

Personally, I always confident and take risks when trading because all my decisions will directly affect the current profit so by all means I must ensure profit in this market.

Confidence is what we need and not over confidence. There is a lot of differences between that two that I mentioned. Confidence is important in terms of execution of our trades, we will not worry if we know what we are doing and if we have confidence. Over confidence is something that we should avoid because it makes us to become arrogant. Being a arrogant person is most likely to commit mistakes and that is the reason why we should just be an average trader that have confidence.

[Murat]

Excessive confidence always doesn't bring a positive result in this cryptocurrency world, not only this system but also everywhere you have to be confident but stay in a general way, boldness is good but when you want to trade then you have to be logical and analyst, I think never take any decision based on emotion because the trading platform don't fallow any regular way so one should think again and again to do better in this system, that's why overconfidence could bring to you a lot of disasters in your trading career, I think if you follow the price trend then it would be a good way to make any decision regarding your purpose.

[Negotiation]

It is good to believe in trading in crypto but not much confidence That is why you have to work objectively to control your emotions over time without trying to get up and running. Knowing the state of the market being traded and then not investing can make you lose money. Never make a quick decision to do a good job.

[Kevondo]

Trading is another name of patience and the successful trades are no doubt confident because they have grip on it and knowledge,enough experience abut the market,But without knowledge taking risk and confidence is just gambling.

Professional traders spend more time n analysis and after surety confidently put trade then never believe in any rumor,Here we talk abut excessive confidence so it may sometime become risky and some trader face the losses at the end. Confidence with knowledge bring

More knowledge leads to increase in confidence and less knowledge makes you less confident. More knowledge makes you more familiar about a concept, system or a product and you better understand it. In this way you become the master of it. Bitcoin is the technology, and cryptocurrency is the system of digital currency the more you know about it and how it works you will show a more positive attitude toward it and this will make you a good trader.

[pajak666]

Confidence is a result, not something that you acquire on itself. There is no 'confidence course' that will make you successful. The key is learning and repetition, just like in school, so you can get necessary knowledge and try it out in the field, getting experience and learning practical tricks.. Only after you gather all the info and experience the confidence will come. You don't force it.. There is no way to build confidence on any topic if you are not successful in it. Also you can get quickly get overconfident if you happened to be lucky and didn't investigate why you had success in these spots.

[pearnapple]

Sometimes it's going to be a good thing and sometimes it's going to cause us to lose so it depends on our luck. But being confident while trading is going to groom yourself as a better trader and you're going to do that trade with comfort in the long run, but when you're trading in fear you're going to always think about quitting the trading that won't make you a successful trader even if you're supposed to be.

[tungaqhd]

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?

Doubt and fear help us being more careful before making an investment. We will think about potential dangerous when choosing altcoin, time to invest, ...

[Webetcoins]

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?

Doubt and fear help us being more careful before making an investment. We will think about potential dangerous when choosing altcoin, time to invest, ...

True, I also use my doubts and fear as a guide for me. If you will let your fears and doubts take hold over your mind, you will not be able to make intelligent decisions. Take everything in the positive way so that you can avoid risks at a greater rate. Being cautious is very important while making every kind of investment, little ignorance will lead you to failure. As the value of coin fluctuate you should be very careful in doing long term investment and trust on yourself.

[Negotiation]

Sometimes it's going to be a good thing and sometimes it's going to cause us to lose so it depends on our luck. But being confident while trading is going to groom yourself as a better trader and you're going to do that trade with comfort in the long run, but when you're trading in fear you're going to always think about quitting the trading that won't make you a successful trader even if you're supposed to be.

You are right that we can never succeed if we trade in fear. It is possible to avoid loss if you start from here again without trusting yourself to gain profit in doing business. That is why we should look at the market situation and then invest.