Excessive confidence in cryptocurrency trading.

[Triffin]

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, ...

You are right when you feel afraid to suffer lose you will stay careful about your trading and you will get good result of your trading but when you become over confident you will make mistakes. So be careful and never think that you achieved your target as there is wide world of trading that needs your approach so keep learning even if you feel like being expert in trading.

[TheGreatPython]

Over-confidence is always a negative factor and not just in crypto trading nor in trading field. Our level of confidence should be derived from the depth analysis but most traders are getting those level of confidence due to their experiences and amount of capital available for trading which are always less-influencing factors hence such type of traders usually end up booking losses. Being confidence is just a belief and we need to understand our thoughts has nothing to do with market directions.

Always being humble and polite against market will help any trader. Yes, I mean we must follow the stop loss and target levels and out of confident, we should not try anything new. Simply, sticking within basics of trading will lead to profitable trading always .

[Meowth05]

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 confidence upon your trading is good but having too much of it doesn't make it look good. Excessive confidence might lead on taking a high risk opportunity that could cause loss and so as for lacking of confidence. Besides, I don't think that over confidence will work out in this kind of market the fact that fluctuation rate is not what we think of.

[huige007]

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 confidence upon your trading is good but having too much of it doesn't make it look good. Excessive confidence might lead on taking a high risk opportunity that could cause loss and so as for lacking of confidence. Besides, I don't think that over confidence will work out in this kind of market the fact that fluctuation rate is not what we think of.

Balance is required in every part of your life as you have to make a balance between your job and relations, your needs and you’re earning, your wishes and efforts, same kind of balance is required between over confident and assurance. When you have invested the money that you have earned through hard times you should be confident about your business and good results. But over confidence does not have real consequences.

[Captain Corporate]

 Excessive fear is also very dangerous as well but people do not realize that. I am not saying just go out there and do whatever you want without fear and feel like you are the best trader in the whole world, that would hurt your profits as well, having a decent amount of confidence but a decent level of fear both works. You should feel like you know how to trade and do your research and get better at it and have confidence but you should also fear that anything could happen in crypto world including even the most trusted moves becoming very wrong. Find that perfect in between zone and you would be safe, if you go too much to any side, you will end up either losing because you are too snob or losing because you feared too much.

[doomloop]

 Excessive fear is also very dangerous as well but people do not realize that. I am not saying just go out there and do whatever you want without fear and feel like you are the best trader in the whole world, that would hurt your profits as well, having a decent amount of confidence but a decent level of fear both works. You should feel like you know how to trade and do your research and get better at it and have confidence but you should also fear that anything could happen in crypto world including even the most trusted moves becoming very wrong. Find that perfect in between zone and you would be safe, if you go too much to any side, you will end up either losing because you are too snob or losing because you feared too much.

Balancing your trade between over confidence and excessive fear is the key to a successful trade. Excessive fear will stop you from making big profits and availing multiple opportunities in this way you will not be successful. On the other hand over confidence will stop you from looking important figures and concepts that can be harmful for your trade. Make a balance between everything in every phase of life.

[novaprime]

Over-confidence is always a negative factor and not just in crypto trading nor in trading field. Our level of confidence should be derived from the depth analysis but most traders are getting those level of confidence due to their experiences and amount of capital available for trading which are always less-influencing factors hence such type of traders usually end up booking losses. Being confidence is just a belief and we need to understand our thoughts has nothing to do with market directions.

Always being humble and polite against market will help any trader. Yes, I mean we must follow the stop loss and target levels and out of confident, we should not try anything new. Simply, sticking within basics of trading will lead to profitable trading always .

I think confidence will not help much in trading but without this you will feel very afraid to start, so for some investors confidence can help them a lot in trading. Since joining this market, I have always faced a lot of risks and based on the knowledge I have learned during the past time, confidence in trading is very important. In addition, you also need to have good mentality and always calm before making decisions.

Of course emotions are often difficult to control but if you can do this you will soon become a good trader in this market.

[bohr]

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.

Even if I agree there are many people that believe in fake it until you make it, basically they are going to try to fake they are confident until they get to that state of mind, but as you state that is not something you can really fake, confidence must come from your skills and your experience as a trader not by reading some self-help book, because if you try to trade by being confident in your skills when you have none then the market is going to destroy you, just as it has done with many people in the past.

[Bim abk]

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.

Even if I agree there are many people that believe in fake it until you make it, basically they are going to try to fake they are confident until they get to that state of mind, but as you state that is not something you can really fake, confidence must come from your skills and your experience as a trader not by reading some self-help book, because if you try to trade by being confident in your skills when you have none then the market is going to destroy you, just as it has done with many people in the past.

confidence in trading really starts from the ability of these traders. so if they are still hesitant it would be better to re-learn the techniques available, so from that ability is the basis for growing confidence in investing, meaning that it is not easy to trust and be influenced by the assumptions of others.

[justdimin]

Just because they can fake it doesn't mean they can make it with the methods they have that doesn't make it. You can be over confident or maybe just enough confident to look like you are a good trader, however that doesn't change the fact that if you are not making any profits, you are not a good trader. So, you can't fake trading, you can't fake profits in trading that is not possible, mathematics are mathematics and profits are profits. Either you are a good trader and have some profits or you are a bad one and have losses.

However, if you are trying to get other people to invest into your trading like some sort of ponzi scheme and eventually hope to make money with all those investments, I could understand why fake it until you make it could actually work.

[bohr]

Just because they can fake it doesn't mean they can make it with the methods they have that doesn't make it. You can be over confident or maybe just enough confident to look like you are a good trader, however that doesn't change the fact that if you are not making any profits, you are not a good trader. So, you can't fake trading, you can't fake profits in trading that is not possible, mathematics are mathematics and profits are profits. Either you are a good trader and have some profits or you are a bad one and have losses.

That is why you could give someone else your strategy to make money in the markets with very specific instructions about how to do it and they will never make any money because they will not know why you take a particular step since they were not the ones to device your strategy, so they will eventually deviate from it and then just when they need your strategy the most are going to make a mistake and lose an amount of capital that will make impossible for them to recover that money by trading.

[Kurokonobasuke]

Being a crypto trader, confidence is a must when in the field of trading because when we don't have confidence it is impossible to earned profit in trading. Confidence is the primary recipe as a trader, because in this way we could developed our plans and strategy and make decisions. On the other hand, excessive confidence is really dangerous because it may lost our all assets by just trying to predict market price. Market price is highly unpredictable because their are volatile so that when we lost again and again in trading, it is ok to rest first before our assets gone. 

[Sadlife]

I think trading is more on patience and waiting. Because even if, you've bought into a cheaper lower price you can't really expect for the price to go up all the way to $15k - $20k.
So doing rash decisions will probably cost you a loss of potential profit.

[Denamen]

I think trading is more on patience and waiting. Because even if, you've bought into a cheaper lower price you can't really expect for the price to go up all the way to $15k - $20k.
So doing rash decisions will probably cost you a loss of potential profit.

In any situation you need to be more confident and always calm after buying because if the market turns red during that time you will easily fall into difficult situations. In my opinion, you should make a specific investment plan and manage your assets in the best way because the crypto market is very volatile and just a few bad news will change your psychology.

[dragon695]

I think trading is more on patience and waiting. Because even if, you've bought into a cheaper lower price you can't really expect for the price to go up all the way to $15k - $20k.
So doing rash decisions will probably cost you a loss of potential profit.

In any situation you need to be more confident and always calm after buying because if the market turns red during that time you will easily fall into difficult situations. In my opinion, you should make a specific investment plan and manage your assets in the best way because the crypto market is very volatile and just a few bad news will change your psychology.

You need psychological control because the crypto market is very volatile and even a few mistakes will cost you money here. I always analyze very carefully to avoid unnecessary risks but of course it only reduces a small part and everything still depends on this market. However, if you have good trading knowledge, you will become more successful in this market.

[MWesterweele]

I think trading is more on patience and waiting. Because even if, you've bought into a cheaper lower price you can't really expect for the price to go up all the way to $15k - $20k.
So doing rash decisions will probably cost you a loss of potential profit.

In any situation you need to be more confident and always calm after buying because if the market turns red during that time you will easily fall into difficult situations. In my opinion, you should make a specific investment plan and manage your assets in the best way because the crypto market is very volatile and just a few bad news will change your psychology.

You need psychological control because the crypto market is very volatile and even a few mistakes will cost you money here. I always analyze very carefully to avoid unnecessary risks but of course it only reduces a small part and everything still depends on this market. However, if you have good trading knowledge, you will become more successful in this market.

Even youre too confidence still you need to be careful because in the blink of an eye changes in the market might happen or is done very quickly. Confidence is also need in trading but with strategy to avoid the loses and to lessen the risk, most people got loses because of having lack of knowledge and not knowing the current situation of the market.

[whyrqa]

Even youre too confidence still you need to be careful because in the blink of an eye changes in the market might happen or is done very quickly. Confidence is also need in trading but with strategy to avoid the loses and to lessen the risk, most people got loses because of having lack of knowledge and not knowing the current situation of the market.

It seems to me that only a professional trader with a large amount of experience can almost automatically determine the necessary moments in the cryptocurrency market and, based on this, get very good results.  Today I am practically in zero profit, because I do not have successful results.  as if it’s a very thorough study of all the coins and the possibilities of making profit from daily trading, but if you take into account the monthly results, they are practically zero, because it is very difficult to keep track of the indicators of coins in the cryptocurrency market and if you get a plus for several days  then this plus burns a minus.