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Avoiding Bad Decisions

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1. We’re unintentionally stupid

We like to think that we can rationally process information like a computer, but we can’t. Cognitive biases explain why we made a bad decision but rarely help us avoid them in the first place. It’s better to focus on these warning signs that signal something is about to go wrong.

Warning signs you’re about to unintentionally do something stupid:

  • You’re tired, emotional, in a rush, or distracted.
  • You’re operating in a group or working with an authority figure.

The rule: Never make important decisions when you’re tired, emotional, distracted, or in a rush.

More here –Farnham Street

Category: Trading PsychologyBy Chris TateMarch 18, 20211 Comment

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1 Comment

  1. Pearl says:
    March 19, 2021 at 10:44 am

    Love that post CT – clear, succinct and great advice. Thanks.

Comments are closed.

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