Trading Psychology Podcast Episode 75: Action Bias
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- Опубликовано: 28 сен 2024
- What does it say about somebody who just sits or stands there and does nothing? It's not going to make you too popular, especially amongst people who don't understand the business you're in. So often at times, we feel pressure to take action where simply not taking any action at all would have been so much better. Still confused? VP and Robb break it down.
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The hosts of this podcast are not licensed financial advisors, and nothing heard on this podcast should be taken as financial advice. Do your own research and understand all financial decisions and the results therein are yours and yours alone. The host is not responsible for the actions of their sponsors and/or affiliates. Conversely, views expressed on this podcast are that of the host only and may not reflect the views of any companies mentioned. Trading anything involves risk. Losses can exceed deposits.
Wow, VP and Rob, this is the best episode you have ever made till now. All this is about the psychology of trading and there is so much wisdom in app. 90% of this episode. Well, as I have learnt, trading must be the most boring thing, because to be successful. In other words, just follow the system emotionless. Great audio once again
its fisherman Rob. was so dialed in till that part. 😂😂😂.
Just on time❤
i will not delete MT5 on my phone because I am scared to open it , unless i have to adjust , open or close a trade when my trading alarms go off .
for some reason i just don't trust desktop MT5 to close and open my trades properly (i don't know why , it just looks untrustworthy lol)
also i punch keys on my phone faster than i type .
am i being delusional or does this make sense ?
I can actually get on board with this.
Guys, every single piece of this podcast is just so important, but this episode brings it to another level. I listened it this twice and as I always do I took notes because I find it essential to go back and read back all through, especcially during quite periods! Thank you so much, VP and Robb. 🙏
VP, “people don’t like taking actions and risks like us Americans”? For real?
why do you think that chasing greatness and excellence (your words) is a trait only for Americans? Dude that’s painful to hear that you think other nations aren’t as risk or action takers. You could have easily made your point without trying to make Americans superior to other nations.
This is pretty widely known. Outliers exist of course, but culturally we take this mentality to extremes.
@@NoNonsenseForex widely known where?! Maybe between your community where you were raised up!
That might surprise you, what is known for you about the rest of the world as an American is not necessarily true. Also a lot of negative things are widely known for other nations about the American culture. The fact that you don’t just use “person A and Person B” to make your point and instead you use American vs the rest of the world tells that you are living in a nutshell where people are two types Americans and non Americans. Do better
My experience comes from the world I've been fortunate enough to travel, and the people from all over the world who I correspond with every week.
I think you really took what I said the wrong way. Nobody else seemed to. Maybe go check out the episodes where we talk about blocking out external factors.
@@ahmedmedan2533you don't know the whole world either man, chill out. It was just speculation from what they've noticed. And from a statistical point of view there are more world wide businesses from America then any other country, this shows that there are more Americans then anyone else taking the risk to start up in other countries they don't even live in. Americas principle has been frontier and risk since it started, from the declaration to the gold rush, and many more endeavors Americans CHOSE to take for the sake of God, Glory, and Gold. This wasn't meant to be a personal slight towards you.
Great episodes as always, not a single miss out there. I was wondering if you guys had one about greed coming up? You guys have touched on it a few times but I don't think it's ever been that in depth. Its own video would be very beneficial for me and pretty much everyone out there trying to handle the world of trading. understanding the source of it and how to combat it would be amazing to hear coming from you guys. Nobody goes as in depth as you do and nobody should be allowing greed to step in the way of their progress but it sneaks up when you lest expect it. Thank you for your help and assistance
any new book recommendation
Not for me at the moment
I'm guilty of this. If you park money and you get X% per year, then having cash on the sidelines waiting for a trade, you're missing out, right?
Well ...
I know it's not the point of the soccer story at 5:00, but the asymmetry of the kicker/goalie and the ball going left/right/straight reminds me of options trading -- one is the buyer, one is the seller, and the price (ball) goes up, down, or stays the same region; especially when the 14% statistics come out
I hear it a lot, "Missed opportunity cost". It's top of the market talk. They're not wrong, but these are the people who are often the ones swimming naked when the tide goes out.
@@NoNonsenseForex My active trading account might be a hot mess, but I'm still overweight in bonds etc on my long holds. Might miss out on some of that upside, but at least I can avoid the drawdowns.
Maybe it's just boredom, like I should be "doing" something. I know you've had an episode on that.
Really needed to hear this today! 👍