How to Trade with Conviction and Avoid the Perils of Overconfidence ????

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How to Trade with Conviction & Avoid the Perils of Overconfidence financial-spread-betting.com/strategies/startin… PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! The Perils of Overconfidence; Overconfidence Versus Conviction. Why do we want conviction in our trading? We want to be in the trade and we want to have conviction to pull the trigger and hold the trade till its maturity date. Its not second-guessing ourselves - that's key. Overconfidence is overconfidence in your ability to predict the market as a trader. I think we've all been there; I've been there myself as well as lacking conviction. Overconfidence comes with saying 'I can do what I want here, I can pick a chart, stock and entry - I'm a genius'. That won't work in the long term; you might get lucky and it might work in a few times but then it smacks you. If you're overconfident you will end up holding on to losers even when the market is telling you that you're wrong. Give yourself some boundaries - at least limit the amount you put at risk on a trade. If you drilling down into conviction - if you are thinking about interfering with your trading setup you don't really believe in your trading plan. If you don't have conviction you aren't certain in your mind that following your trading plan or strategy is the best thing to do. Look back at your trades - your trading diary and journal and examine how you would have performed if you had followed your plan by the book. Redoing.

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