Short Term Trading Weekend Lounge: 20-22 Oct, page-82

  1. 1,883 Posts.
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    I think that’s pretty normal behavior - it’s really hard to remove all (unconscious or conscious) bias from ANY decision. And this is made particularly more complicated if your own money is on the line. It’s part wanting to win; wanting to let others know that you are winning; and is also paralleled with the desire to not lose (which sounds similar but is subtlety diffferent).

    Take the introspective and humbling phrase:“I’ve made a bad decision”. That’s rarely uttered (out loud) these days, probably thought of just as less, and almost impossible to find typed out on a HC stock thread.

    Why? Well. It’s a tough thing to admit.. sure. And it IS humbling.. However I imagine that one of the main reasons you don’t hear it all that much is because most people don’t take any time out, after a loss OR a win, to ask ‘What happened?’ or ‘How did this happen?’ (reflection + assessment of sequencing).

    Now - exhibiting some bias, but it’s statistically accurate - you’ll hear more people (and this weekend topic confirms it) on the STT admitting to losses, or stuff ups, or who will put opinions out into the public domain - eg STTCOMP - for scrutiny, than you’d see elsewhere. And the result? We ALL win. I learn from you, even as you make mistakes, and you learn from me as I stumble my way towards proficiency.

    Be aware of your bias, but more importantly learn the art of reflection. As reflection, driven by a desire to learn from all of your experiences, will ensure that your next reaction will be more measured, and in this game, much more likely to be profitable.
 
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