bias...... a four letter word.....

[hayseed]

have you ever taken a loss and for some reason felt better..... and later, deep in the night, realized you felt better than if you would have taken the same sized gain.....

i have....

usually the loss in question was a result of my being biased..... that bias brings on the well documented "touchy feely syndrome" and "egotistical blindness"..... i'm living proof those exist.....

looking back at those sell trades now, its perfectly clear,

i refused to let go of something chosen by me...... "touchy feely syndrome"

refused to see multiple technical buy signals..... "egotistical blindness".....
//------


bottom line..... at least for these 2 trades i came to grips with my bias and handled it...... $ -426.40 well spent......

that's a good feeling......h
//----

 

[HeavenLeighGill]

Never thought of it like that

 

[Dora_WalletInvestor]

I haven't heard of these specific phenomena but the human brain is prone to so many biases. It's both a fascinating area of human psychology and an annoyance in the life of a trader.
Good job for acknowledging it and taking steps forward!

 

[hayseed]

I haven't heard of these specific phenomena but the human brain is prone to so many biases. It's both a fascinating area of human psychology and an annoyance in the life of a trader.
Good job for acknowledging it and taking steps forward!

//----

hey dora..... they are a few from a long list i seem to fight with quite often....

have the current black eye to prove it.....h

• Egocentric blindness: The natural tendency not to notice facts or evidence which contradict our favored beliefs or values.

Touchy-feely syndrome when humans overvalue things that they have selected personally