Naturally, traders look to the internet for guidance its ubiquitous presence means that this is inevitable. Unfortunately, the trading-related videos you see on the internet are often a very unsuitable role model for traders because the lifestyle they purport to show is a work of fiction.
“If you don’t rule your mind, your mind will rule you,” More – Outside
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Investor incompetence might play a larger role in poor results than you think. That’s thanks to a phenomenon called the Dunning-Kruger Effect. To explain, Barry welcomes David Dunning to the podcast. Dunning is a professor of psychology at the University of Michigan.
Your brain and subsequent behaviours and feelings are a function of the information you feed it. The adage of garbage in and garbage out applies equally to your internal software as it does to any computer coding.
The capacity to execute under pressure is one of the key components of any high performance endevour. In trading vapour locking at the wrong time can see the end of your career.
Ask a novice what the most important thing in trading is and you will probably get the response – it’s whatever moving average is flavour of the day. Wrong – it is how you manage both your trades and yourself. Markets can generate extraordinary wealth but they can also take that wealth away if you…
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Harry Markowitz is reported to have said that “diversification is the only free lunch in investing”. This is the notion that holding a broader range of assets can result in better returns without assuming more risk. Over the decades this has become accepted wisdom – but it is not true. Diversification isn’t free; it is…
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It is often strange how two disparate thoughts coalesce into some form of narrative pointing you in the direction of something. Coincidentally I came across an article by some domestic fund manager telling me that because RMD had collapsed it was the buy of the century at the same time I was cleaning out one…
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I have been meaning to get to this interesting article Heidi N. Moore wrote over at Marketplace radio. “They Are Day Traders. Hear them Roar.” A terrific looking commercial for OpenTrader accompanies the article (video here). The video is pretty slick. But as intriguing as it looks, it overstates what I believe is the true criticism of…
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