Reflection. Analysis or soul-searching?

Steve just made a losing bargain. Although he has lost only 2%, he can not stop thinking about it: “What have I done wrong?” How could I have prevented the loss? “What have I missed? What does this loss mean for me as a trader? What happens next? I can manage?” Steve They reflect. He can not let go of it. He always gets stuck with the loss, many times to scroll it in his head. Reflections on past loss of not only reinforce the bad mood, but, as shown by a recent study by Dr Andrew Ward (Andrew Ward), They reflect the type of less satisfied, less confident and less able to adhere to the scheduled course. Continue reading “Reflection. Analysis or soul-searching?”

Take incompetent

Take his incompetence to be the premier trader, you need to clearly understand their own limitations. But most novice traders do not know. For example, a behavioral economist Dr. Terrance Odean found that online investors tend to trade beyond their experience. They have no accurate picture of what they can and can not do. Such a distorted exaggeration of abilities is not characteristic only for traders. This is a widespread phenomenon. Studies show that when you are trying to assess how well your activity Trader-beginner, your intuition is better not to trust. Continue reading “Take incompetent”