Courses › Trading Psychology Blueprint: Rewire Your Mind for Success
The Psychology of Cognitive Biases in Trading
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What this lesson covers
Trading decisions feel rational while they are being made, which is exactly what makes cognitive biases dangerous. This lesson covers the mental shortcuts that shape how you read the market, respond to a trade and manage risk, generally without your noticing. It explains what biases are, why the brain uses them and why they persist even when you know about them. The specific ones covered are the ones that cost traders the most, including confirmation bias in analysis, recency bias after a losing run, anchoring to a price you decided was important, and the tendency to remember your good calls more clearly than your bad ones. The lesson then covers practical countermeasures, since recognising a bias is not the same as being free of it.