I often come across the term "confidence" rather than over-confidence or under-confidence. Probably the better term would be over-estimating and under-estimating because what we do or how we behave is a reflection of what we think of ourselves. Do we think more or do we think less of ourselves than what we actually are. It's not easy to estimate your capabilities but then if you don't know, don't try to. Because whatever/whoever you are, one day you'll figure it out yourself.
You never know what life will bring to you the very next moment. It might be joy, sadness, heart break, surprise, shock, anger or maybe worse than what you can imagine. But whatever be the case there's one thing you can promise to yourself i.e. Regardless of what happens this very next moment I will be a better person than what I am right now.
There will always be people who will try to hold you back or if not that, there will be failures (always) that will tend to do the same. People who once used to look like a loser to you might now be at a better position than you, a position where you once dreamt to be. Is he/she better than you ?? Maybe he is and probably that is the reason he is up there. Or maybe he is not and he is just fortunate to have reached there. The fact is no one knows and will never know. So just keep trying to improve and create something new out of each and every moment.
P.S. I say it once again: "The start to this might not have been great but the ending will be legendary. I know it."