Over confident ...that word should not be in traders dictionary . Over confident is the brother or 'cousin, or nephew of ego is detrimental to any Traders or Investor.
From this little experience of mine, many a time when I am so confident in any of my trade usually it turn to be a failure .In that occasion I was over confident with what I saw, a beautiful pattern that has form and complete with the exact wave count (Elliott term) and all internal indicators are pointing to the direction that I am hoping , later it turn out to be a Loss. Cut loss to be precise.
But in other occasion when my esteem is low and that overconfident is loss due to the previous loss that I have when I enter into position all the direction suddenly goes to my favour.
This make me realised that I just cant use this spirit Malaysia Boleh into my dictionary . Most probably it fit to others but not me.
My spirit is that I always think of bad thing that will occur to my trade so I am very well prepared if any thing bad will happen.
So be careful when others give Ur advise,please suit that advise that fit you.Not all human being are created the same.
Thanks For Reading.
