Why Do Stock Traders Lose Money?
Want to make money trading stocks? To separate yourself from the crowd, you need to understand why most traders lose money and what the ones who win do differently.
Read MoreManaging money well is not so much about how much we know, but more about how we behave. Learning about the psychology of money can provide you with valuable insights into your behavior around finances. Understanding and modifying those behaviors can help you set yourself on a path of financial success.
Want to make money trading stocks? To separate yourself from the crowd, you need to understand why most traders lose money and what the ones who win do differently.
Read MoreDid you know that there are over 175 different cognitive biases? Thankfully, there's an easy way to classify and understand them. Here it is.
The world is very complicated. We are constantly presented with new information - every minute of every day - and we have to subconsciously
L:ogical fallacies are reasoning errors that weaken your argument. Learn what fallacies are and how understanding them can benefit you.
No true Scotsman occurs when someone defends a generalization by redefining the criteria and dismissing examples that are contradictory.
Ad hominem fallacy is based on personal and irrelevant attacks against the source of an argument instead of addressing the argument itself.
Tu quoque fallacy occurs when someone's argument is discredited solely based on the allegation that their past actions or words are not consistent with their views.
The loaded question fallacy is a question containing an implicit assumption - that is unverified or controversial.
Family and culture play a huge role in your financial perspective. Learn how to communicate with people who have different backgrounds.
Sunk cost fallacy is a cognitive bias that causes people to include non-recoverable past costs in their decision-making process.
Anchoring is a cognitive bias that describes the human tendency to overly rely on the first piece of information we find or is offered to us.
Loss aversion is a cognitive bias, or a systematic pattern of thinking, that refers to our natural inclination to focus on setbacks more than progress.
The Dunning-Kruger effect is a bias whereby people with low ability in a certain area tend to overestimate their capability in that area.
Even though both fallacies and biases are very different from each other, they are both typically concerned with the same issues - errors in reasoning.
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