Confidence or Overconfidence? | Forex Factory

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Confidence or Overconfidence?

  • #1
  • First Post: Jun 30, 2012 8:45am Jun 30, 2012 8:45am
I'm involved with a online community in facebook related with forex discussion. On that community I've found a guy talking like he found holy grail.. lolz
Let me show you a simple example of how he talks

Quote
So guys passed a successful week with you.. and also thank you to my creator who gives me the power to rule the forex market......
so what do you think about the coming week.............???
1. profitable or
2.loss......
and also thank you very much indeed who are always supporting me and follow me.......................

What do you think, is he confidence or overconfidence... Actually I think his Honeymoon period isn't over yet... He talks like (Earning 5% a month is a LOL)..
So guys, I want to have your opinion... What to tell him when he talks like this ..
  • #2
  • Edited 9:40pm Jun 30, 2012 8:51am | Edited 9:40pm
Quoting Rasif
What do you think, is he confidence or overconfidence... Actually I think his Honeymoon period isn't over yet... He talks like (Earning 5% a month is a LOL)..
So guys, I want to have your opinion... What to tell him when he talks like this ..
He is simply overconfident with his ability. It is not good for any trader. Forex market is very dynamic and continuously changing. No one can rule the market, not even a group of experts with several years trading experience.
  • #3
  • Jun 30, 2012 11:53am Jun 30, 2012 11:53am
Quoting Tylin
He is simply overconfident with his ability. It is not good for any trader. Forex market is very dynamic and continuously changing. No one can rule the market, not even a group of experts with several years trading experience.
Yeah, this is what I also believe!
  • #4
  • Jul 1, 2012 7:32am Jul 1, 2012 7:32am
Pencil his name in your calendar ... and check if he's still in the markets this december.
Wanna bet $10 he's gonna disappear like camel fart in desert storm? Let's wait and see

Quoting Rasif
So guys, I want to have your opinion...
forget about tomorrow, just steal away into the night
  • #5
  • Jul 1, 2012 8:13am Jul 1, 2012 8:13am
If he sounds too good to be true --- then he probably is.
(too good to be true)

An inflated ego has done more damage in this market than just being a dumb trader. When you think you are "untouchable" or "unstoppable" is typically when you get "touched" or "stopped"

Even the pros know better than this. If you're any good why would you have to toot your own horn? Your record should speak for itself.
  • #6
  • Jul 1, 2012 9:45am Jul 1, 2012 9:45am
Quoting spekitox
Pencil his name in your calendar ... and check if he's still in the markets this december.
Wanna bet $10 he's gonna disappear like camel fart in desert storm? Let's wait and see

I have no doubt about it. This type of people have no idea about what they are doing or talking about. Ultimately they face a big loss and end up with nothing.
  • #7
  • Edited 12:28pm Jul 2, 2012 11:24am | Edited 12:28pm
The problem with Forex is that when people have a successful week, they come here and post about it. When they lose there shirt, they disappear never to be seen again. Maybe it's because they can no longer afford the internet bill. We should always be aware of the optimism bias to ensure we are making decisions with a sound mind.
  • #8
  • Jul 3, 2012 8:31am Jul 3, 2012 8:31am
I began quoting the answers I loved and then realized i was quoting you all! Agree with everything said.

And is he a real trader at all? Or just someone eager to get some attention? That's the beauty of internet. With TV, everyone got their 15 minutes of fame; in the internet, everyone can have 15 minutes of godness.
  • #9
  • Jul 3, 2012 11:59pm Jul 3, 2012 11:59pm
Quoting Rasif
So guys, I want to have your opinion... What to tell him when he talks like this ..
Nothing, just concentrate on your trading.
  • #10
  • Jul 4, 2012 9:13pm Jul 4, 2012 9:13pm
Just concentrate on your trading and btw, if someone is overconfident, he will soon realize his mistakle..
  • #11
  • Jul 6, 2012 7:09am Jul 6, 2012 7:09am
Good answers in my opinion. I would add that perhaps he's fishing for other people's funds?
Gone to a better place
  • #12
  • Jul 6, 2012 7:09pm Jul 6, 2012 7:09pm
Quoting Rasif
I'm involved with a online community in facebook related with forex discussion. On that community I've found a guy talking like he found holy grail.. lolz
Let me show you a simple example of how he talks



What do you think, is he confidence or overconfidence... Actually I think his Honeymoon period isn't over yet... He talks like (Earning 5% a month is a LOL)..
So guys, I want to have your opinion... What to tell him when he talks like this ..
A: To come back to earth
B: Ask him to get a life
C: Move back to crazy land for they miss him already..
  • #13
  • Jul 6, 2012 7:20pm Jul 6, 2012 7:20pm
Quoting pip_seeker
[/size]

An inflated ego has done more damage in this market than just being a dumb trader. When you think you are "untouchable" or "unstoppable" is typically when you get "touched" or "stopped"

Even the pros know better than this. If you're any good why would you have to toot your own horn? Your record should speak for itself.
pretty much this
Twitter: @forexpokerpro
  • #14
  • Jul 7, 2012 9:37am Jul 7, 2012 9:37am
Quoting spekitox
Pencil his name in your calendar ... and check if he's still in the markets this december.
Wanna bet $10 he's gonna disappear like camel fart in desert storm? Let's wait and see
lolz...

Actually I asked him several times to link up his account with myfxbook so that we can see his real performance... He just ans me to check what he posted on that group (As he posted few signal there)....
It seems like he already got a big bamboo..
  • #15
  • Jul 8, 2012 6:00pm Jul 8, 2012 6:00pm
Quoting Rasif
lolz...

Actually I asked him several times to link up his account with myfxbook so that we can see his real performance... He just ans me to check what he posted on that group (As he posted few signal there)....
It seems like he already got a big bamboo..
So it seems that we have a reluctant trader who does not want us to see how good he/she is..guess there are all sorts out there in "what's cookin'?"
  • #16
  • Jul 9, 2012 6:24am Jul 9, 2012 6:24am
Quoting smikester
Good answers in my opinion. I would add that perhaps he's fishing for other people's funds?
couldn't agree more!
  • #17
  • Last Post: Jul 17, 2012 7:39am Jul 17, 2012 7:39am
He was up to collect fund to be managed... Now he got one.. He just shared it with the group's member.. Check that account's portfolio here.

http://www.myfxbook.com/members/saha...ing0127/346195
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