Over confidence might affect your trade

[Nicho-brown]

What i understand about Trading (Business) is call winning and sometimes losing. For every good business man or woman must be ready to take the risk, because trading have ups and downs. As my father could say "he who does not find gain, does not lose" so this can be so applicable to this effect! But to every good business man or woman must note that your failure or loses gives you the opportunity to stand well in your next trial. So we must not on the bases that failures do occur, and stop spreading our trades.
: no good trader in the world 🌎 who doesn't experience failures.

[danieldavidd]

One of the mistakes that alot of traders make is that they're moving into trading without making a proper research instead they invest with the mindset of becoming rich overnight because of emotional feelings or taking loan with the intention of investing on trading with mindset of becoming rich overnight that can actually push you into dept, i understand in life you need to take risk to make money, but you're taking risk that you can afford to loose.

[Pablo-wood]

What i understand about Trading (Business) is call winning and sometimes losing. For every good business man or woman must be ready to take the risk, because trading have ups and downs. As my father could say "he who does not find gain, does not lose" so this can be so applicable to this effect! But to every good business man or woman must note that your failure or loses gives you the opportunity to stand well in your next trial. So we must not on the bases that failures do occur, and stop spreading our trades.
: no good trader in the world 🌎 who doesn't experience failures.

I won't see losses as failure. Losses are part of our investment journey either as a trader or a hodler. Failures are those who quite or give up due to their experiences. As far as one is determined to build on their losses and take the pain to study and do more research that will improve them, then success is very much closer to them. One thing I understand when it comes to trading is that even the best traders experience losses but what makes them standout is the balance between their wins and loss and this wasn't built overnight it took them patience, dedication and commitment to learn how to avoid much losses.

[Dizciple]

One of the mistakes that alot of traders make is that they're moving into trading without making a proper research instead they invest with the mindset of becoming rich overnight because of emotional feelings or taking loan with the intention of investing on trading with mindset of becoming rich overnight that can actually push you into dept, i understand in life you need to take risk to make money, but you're taking risk that you can afford to loose.

They're traders with gambling mindsets this is the reason they go with that strategy in mind but they won't make profits because of how the market will deal with them. You can't go into trading unprepared or with over confidence because the market isn't an emotional one that'll pity you for trying rather it'll deal with you for taking it as a joke. All trades have to be prepared before entering the market and their preparation includes their emotions being under control since this is one of the reason why traders lose money when trading because they can't control their emotions. There's no way for you to be overconfident since you don't know how the market can react to a news, Everybody trading isn't certain that they'll make profits but are still doing it because they believe they can get their prediction correctly. After analysis and you have a buying price, getting in with a strop loss can help you to not lose more than you set thatn when you didn't set your stop loss because you're over confident about your trading analysis.

[Apex_1]

Whenever a trader done get too much confidence when him they trade e go definitely results to excessive trading way him go day trade everytime because of the much confidence way him get and if him no take time him go lose all him money to fees and poor timing to enter the trading market because reason because him they try to beat the trading market as him day trade everytime. And also e go make the am to forget him risk control way go make am ignore him stop lose order because him feel say the trading market go always favor am anytime way him enter to trade due to the overconfidence way him get.

[Xackie]

One of the mistakes that alot of traders make is that they're moving into trading without making a proper research instead they invest with the mindset of becoming rich overnight because of emotional feelings or taking loan with the intention of investing on trading with mindset of becoming rich overnight that can actually push you into dept, i understand in life you need to take risk to make money, but you're taking risk that you can afford to loose.

In trading it's very hard to become profitable but very easy to lose all your money.  You could lose your money within a minute or 2 depending on careless or foolish you trade. At times we investor do argue if it's necessary to have a deep knowledge and understanding about bitcoin before investing, which is not really important.  But in trading you need to have deep understanding on what you are putting your into. There's nothing like luck in trading, if you don't have any slight idea on what you are doing you will surely end up losing.  Its not advisable to take loan or use money that is important to trade, instead only use funds that are not of use. Anyone that comes into trading with the mindset that they could become rich or have high expectations are only setting themselves up for failure. Research, continuous learning, good mentality and proper financial management are what helps a trader in becoming profitable.

[Inior]

Trading is a very tricky line of business, just when you thought you’ve known it, the market always has a way of telling you that you know nothing. Sometimes losses aren’t backup by overconfidence alone, low self esteem/lack of confidence can also cause you to miss out a good setup. One other thing that is now common every day is manipulation. The market is fucking manipulated in such that every trading chart pattern is becoming invalid and that is emotionally causing traders to start guessing instead of sticking with their knowledge. Trading these days is not that easy anymore let’s tell ourselves the truth.

[Cityhunter34]

Your talk actually makes a lot of sense, because overconfidence has really affected a lot people in this trading business, and yet they still don't want to accept any outcome in good faith. Normally, being confident is a very good thing, but it should be for something you are very sure will give you a good result in the end. For example, with something like Bitcoin investment, you can have a lot of confidence in Bitcoin because it is something that is almost certain to bring profit.

[Bitcoin.com97]

Your talk actually makes a lot of sense, because overconfidence has really affected a lot people in this trading business, and yet they still don't want to accept any outcome in good faith. Normally, being confident is a very good thing, but it should be for something you are very sure will give you a good result in the end. For example, with something like Bitcoin investment, you can have a lot of confidence in Bitcoin because it is something that is almost certain to bring profit.

Exactly, building confidence is good ,that alone can help one achieve a certain milestone, imagine investing into Bitcoin and having over confidence that in years to come ,there will be massive profit ,that alone can keep your hope alive .

In trading is very difficult to achieve some level of profit ,so exercising overconfident in trading may not yard any profitable result ,losing your money is very easy when it comes to trading ,so over confidence to me is not applicable to trading .

[Mayor of ogba]

4. Refusing to accept losses: You no want even believe say u go lose due to over confidence because you believe say  the market go favor you everyday.
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Over confidence can't make a trader refuse to accept losses because once a trader starts losing trade back to back the trader won't be confident within himself and fear of losing won't allow him or her to enter another trader. What can make a trader refusing to accept losses is if he or she trade with the money he or she can't afford to lose, when he or she loses the money, he or she will be emotionally down and start chasing his or her losses if he or she could recover his or her lost money.