At this point, there are better ways to build self-esteem than heaping on praise for everything your kid does, starting with helping him become competent in the world.
What you need to know:
To do so, you have to learn to step back and let your child take risks, make choices, solve problems and stick with what he starts. Self-esteem comes from feeling loved and secure, and from developing competence, and although you often shower your kid with the first two ingredients, competence and becoming good at things takes time and effort. When you let your kid make his own age appropriate choices, he feels more powerful. He should have control over his body and take responsibility for his choices. Start by forcing yourself to stand back while your child takes healthy risks. To build confidence in the world, your kid has to take chances, make choices and take responsibility.