Join Louise Bedford in this episode as she discusses the concept of “awfulising” in trading psychology. Learn how to overcome negative thinking and improve your trading mindset with tips from this episode!
Drawing inspiration from the Morning Journal, a technique championed by the likes of Carl Jung, this practice involves unfiltered, stream-of-consciousness writing to unlock the power of the unconscious mind. Delve into the healing process after market setbacks, breaking down each day’s focus – from expressing raw emotions to fostering self-reflection, personal growth, and envisioning a…
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A few people seem to have gotten themselves into a bit of a knot over me questioning the validity of most technical analysis and how the vast majority of it is redundant when it comes to actual trading. As a further response as to why I think I thought it was worth reposting this old…
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Why is it so hard at times is a lament known to all traders at all levels of professional development and experience. There are times in all our careers when it seems as if you cannot buy a profitable trade. As an intellectual pursuit trading is not difficult. The rules are quite simple, and they…
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The legendary World War One fighter ace Baron Manfred Von Richtofen was asked before his death what the job of a fighter pilot was. It is reputed that Richtofen replied, “The job of a fighter pilot is to find his enemy and kill him, all else is superfluous”. Initially, it would seem that the comparison…
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Whilst sitting in my local having my usual toast and vegemite following training I was listening to a podcast that touched on the fact that in the UK a huge number of people who might be entitled to government benefits didn’t apply for them. Recognising that people might not be aware of these benefits the…
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Often an idea that sounds very attractive gains traction without supporting data backing it up. This is true of trading/investing and many other things. This podcast is effectively a lesson in critical thinking and how not to assume that just because something sounds like a good idea doesn’t mean it is a good idea.
If you’ve been around the block, you will likely have seen some eye-rolling use of evidence during meetings. Evidence can be used badly for many reasons; a misunderstanding of what conclusions can be drawn from it, or perhaps it has been cherry-picked to support a particular position.
A vast array of cognitive biases hamstring trader performance a quick look at any list of these afflictions will offer up the following – Confirmation Bias Hindsight Bias Narrative Fallacy (my favourite) Anchoring Bias Loss Aversion Attribution Bias Overconfidence Bias But if I were to isolate one in particular, it would be overconfidence. The interesting…
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