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.
Topic: Excessive confidence in cryptocurrency trading. (Read 18483 times)
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.
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.So doing rash decisions will probably cost you a loss of potential profit.
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.So doing rash decisions will probably cost you a loss of potential profit.
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. So doing rash decisions will probably cost you a loss of potential profit.
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.
So doing rash decisions will probably cost you a loss of potential profit.
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.
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. 
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.
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.
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 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. 
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
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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.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
.Of course emotions are often difficult to control but if you can do this you will soon become a good trader in this market.
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.
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.
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.
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. 
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.
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
. 
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, ...
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.
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, ... 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, ... Jump to: