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Was reading something then got directed to this blog. And this article is something I think worth sharing.

Taken from:
http:// tradepilotpro.blogsp ot.com/2007/11/what- is-zero-sum.html

BIAS: Are they worth it?

What does a having a Bias do for trading anyway
Having a bias is the tendency to give greater weighting to information that supports our own theories and beliefs, while minimizing disconfirming information. People have a natural tendency to filter information in a way that favors their preferred views, we see what we want to see, we hear what we want to hear, in short form we will only look for the opinions from those that our like our own, we then make it a self fulfilling opinion, and if we are wrong we can blame the other party for there miss-calculation or we can release ourselves from taking responsibility, a destructive pattern that traders do almost 100% of the time

How do we break this pattern?

Stop listening to so called experts, who for the most part don’t even trade and we ourselves spend more time analyzing the markets then they do, we have our money at risk, why would we follow the opinions of others, do we know they have their money at risk, NO have we seen there accounts, NO do we know them personally, NO do they care if we loose money, NO

Makes you wonder why?


Losing traders have these biases.

Listen at everybody but don't listen to anyone. You need to have your own judgment; you need to be 100% responsible for your own action.
Your are a failure if you start to blame somebody every time you fail.