Psychology Says This Type of Trading is Easier | STR 326


Manage episode 295516581 series 71093
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It is our job as traders to find as many variables as possible to leverage in our favor. I’m not suggesting we do anything illegal, but what I am suggesting is the best way to make a trade NOT a gamble is to put the odds in your favor. At the core, trading is a game of probabilities and odds so our focus needs to be on educating ourselves as much as possible, including within the realm of science and psychology. In this particular case, by understanding a very basic concept in psychology, you can better understand a type of trading that is easier. Now just because the trading style/strategy may be easier does not make it guaranteed; however, it again goes back to the point of it allowing you to leverage probabilities in your favor. I don’t want to be a gambler. I don’t want to view the stock market as my casino. I want to view this all as a methodical plan of attack where I can find myself “most likely” outcomes. The topic I talk about in this episode perfectly illustrates why you need to understand and leverage this human emotion within your personal trading.

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