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How do you control over-confidence?
trading confidence
- 9 Answers
- In Trading Mindset and Psychology
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- by
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- Warren
- 326 Views
- 1 year ago
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Definitely not a cup of coffee, you just need to check your open position and margin used, and in a steady trend up or down just trail and put a stop loss. |
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How do I control over-confidence?....I suppose that setting limits to wins/losses helps me get out of a trade. |
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Even if you have carefully analyzed your trading position, the market can go either way, so this should be a reminder to be never too confident of one's trade. There is always the element of unknown. |
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I control the feeling of over-confidence by looking at the potential downside. That will help to remind myself for the potential risk of over-confidence. |
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Usually a losers or 2 will take care of that. The markets will humble you so quickly when you think you are invincible and can't lose |
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Entering a trade no one can be so sure of the outcome and that is the reason we need to put our stop in place when placing a trade in case we are wrong,because market will move where it want to move irrespective of our analysis. |
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I never let emotions like over-confidence and greed creep in while trading with a perfect trading plan and strategy. |
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