How to Decide When to Stop

Category: Finance

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blog details: Good day traders, All of the following are based on personal tastes; I don't provide any financial advice, and this post is not intended to be a sales pitch. In order to prevent you from becoming one of the many traders who are going bankrupt or already are, I'm sharing material with you. This essay will be split into two parts since it is lengthy and I don't want to turn away readers who might be put off by the amount of content. Now, let's discuss: Decision-making. Cognitive biases. Be at ease with a poor result. Instead, concentrate on the selection process. Consider probabilities and make the most of your hand. If the method and decision-making were sound, don't focus on a poor outcome. When luck is involved, you have no influence over the results. Embrace ambiguity. Identify what you can control and what you can't in order to go on. And I have to acknowledge the significant role that luck plays in my life and the need of making these really important choices in the absence of perfect foresight into the trajectory of the candles. Eric Seidel's advice is to not focus on unfortunate circumstances. Nine-time World Series of Poker bracelet winner Eric Seidel earned $40 million. Talk on what might have been done better, please. All that counts is if you utilize your "cards" to their fullest potential. If there isn't a question, he continues, "I don't want to hear about it. That you were unfortunate is irrelevant to me. I also have bad luck. Additionally, I constantly lose while playing two Jacks versus two Nines. I'm not interested in taking on your emotional baggage over it. And what use does it serve to discuss it? Who cares if you made a terrific call and still lost? Would you have done anything differently? Do you believe your reading was incorrect? I think everything you did was correct. Why then are we even discussing this? The point is, if it was truly simply terrible luck, who cares? This has to do with accepting that ambiguity, right? Every choice is a probabilistic one. And we frequently make these probabilistic choices. Intentionally or unintentionally Whether it be selecting your relationship or your commute to work. You're predicting something. As soon as we make it clear, feedback loops that we can learn from begin to develop. Each and every decision you make is probabilistic since it involves making a forecast, even if you don't realize that you're doing it explicitly. Because you don't know all the information, you're making a forecast. In relation to everything that is known, you often know relatively little. We must reject the notion that if you aren't openly doing it, you aren't thinking probabilistically. After all, every decision we make is probabilistic by definition since the universe is probabilistic. Your ability to establish effective feedback loops will improve as a result of your efforts to make these things obvious. Unless you have an advantage, avoid trading. And we are really adept at convincing ourselves that we have an advantage. Create structures and a thesis statement. What fresh evidence will refute your thesis? When ought one to give up? I think we're really adept at convincing ourselves that we have a solid reason or an advantage. And in my opinion, that's especially true when the theory would confirm other aspects of our preexisting What fresh evidence will refute your thesis? I believe this is especially true when we are already engaged in investment or trade. Setting up structures around us that will enable us to, first of all, improve those, are we truly being sensible and starting... But more crucially, are we stopping when we gather new knowledge once we've begun, since starting is always a risky option. Are we determining the appropriate time to stop? Because it turns out that we're not very good at actually listening to the signals that tell us to stop something after we've started doing it. We become extremely unreasonable at that point. Phone: +44 7915652757 Email: Website:


member since: Feb 27, 2023 | Viewed: 100

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