It’s not always about bad luck.
Learn to take responsibility for your trading mistakes and make changes to your approach.
Your future self will thank you.
Mainstream folk will argue that their perspective is knowledge that everyone else must know – they believe that they’re “right”.
But what if they aren’t?
Are you sure that what you are learning, or have learned, about the markets and economy is true?
Have you ever questioned the basis of what you know?
Cognitive biases are insidious, and are probably affecting your trading profitability right now.
Here is a quick summary of the ones you must be aware of.
Do you believe that negative outcomes are less likely to happen to you?
Most people do.
Traders who think so quickly find out otherwise, in painful ways.
Besides focusing on emulating successful individuals to the exclusion of all else, how does the survivorship bias apply to trading and investing?
Our tendency to focus only on success stories is what is known as the survivorship bias. But, can they teach us as much as we think they can?
Just as our availability bias can cause us to be over optimistic, it can also cause us to be over pessimistic. Here’s how to mitigate its effects.