"THE BIGGEST ENEMY IN THE MARKET: NOT THE WHALES, BUT YOUR EGO"
In psychology and philosophy, thinking other people are stupid doesn’t automatically prove that we’re smart. Often, it’s just a cognitive bias or a defense mechanism for our ego.
Being smart or stupid isn’t like a light switch with only two options: “on” or “off.” They exist across a very broad spectrum. Acknowledging that someone else is stupid doesn’t automatically raise our intelligence to the “smart” level. Maybe we just know a tiny bit more than they do.
Truly smart people are usually aware of how little they know. They often have doubts. By contrast, people with limited knowledge often think they know best and are quickest to label others “stupid.” So when we’re quick to judge others as stupid, maybe we’re the ones caught at the peak of the Dunning-Kruger curve.
“I know what NOT to do.”
We learn from their blunders so our capital or our lives don’t end up ruined too. That’s called wisdom, not merely thinking we’re smart.
Calling other people stupid is often just a way for our ego to feel safe and superior in an instant. In the market or in real life, people who are busy laughing at “stupid people” usually become the market’s next easy target to tear apart.
Professional traders aren’t people who are right 100% of the time with their predictions. They’re the ones most skilled at taming their own egos. They know when to take a reasonable profit, and when to bow their heads and admit they were wrong when the market moves against them.
The biggest enemies in the market aren’t the whales or the exchanges, but our own greed and arrogance.
#mindset #RiskManagement
In psychology and philosophy, thinking other people are stupid doesn’t automatically prove that we’re smart. Often, it’s just a cognitive bias or a defense mechanism for our ego.
Being smart or stupid isn’t like a light switch with only two options: “on” or “off.” They exist across a very broad spectrum. Acknowledging that someone else is stupid doesn’t automatically raise our intelligence to the “smart” level. Maybe we just know a tiny bit more than they do.
Truly smart people are usually aware of how little they know. They often have doubts. By contrast, people with limited knowledge often think they know best and are quickest to label others “stupid.” So when we’re quick to judge others as stupid, maybe we’re the ones caught at the peak of the Dunning-Kruger curve.
“I know what NOT to do.”
We learn from their blunders so our capital or our lives don’t end up ruined too. That’s called wisdom, not merely thinking we’re smart.
Calling other people stupid is often just a way for our ego to feel safe and superior in an instant. In the market or in real life, people who are busy laughing at “stupid people” usually become the market’s next easy target to tear apart.
Professional traders aren’t people who are right 100% of the time with their predictions. They’re the ones most skilled at taming their own egos. They know when to take a reasonable profit, and when to bow their heads and admit they were wrong when the market moves against them.
The biggest enemies in the market aren’t the whales or the exchanges, but our own greed and arrogance.
#mindset #RiskManagement