Sunk loss fallacy, no?
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It can be that, if you're holding only to try to 'make back' losses. But more commonly, it manifests in making changes to asset allocation that reflect how you should have been positioned before major changes in prices, rather than what you should be doing today @ today's prices.
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And then that mistake turns into confirmation bias as you try and justify the bad move. I've been there many times and the best advice I ever heard was "if a cat walked across your keyboard and sold all your positions, would you buy them all back?" Still a struggle
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It's a lot easier to avoid those mistakes when you have decades of losing experience and are still in the game. There is nothing and I mean NOTHING that teaches like real life losing. I TRULY FEAR FOR THOSE NEEDING MARKET GAINS TO PAY FOR GROCERIES AND RENT.
@TrentBlair19Thanks. Twitter will use this to make your timeline better. UndoUndo
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Also, in human relationships.
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I make it simple, as I understand, realizing bad moves in chess can't be undone, but in trading or investing it is not complex like that, Profit or loss both has to be accepted, and both are certain to happen like day and night. Acceptance is edge.
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I have always been surprised so many professional investors are into poker and other card games over chess as chess seemed so much more applicable.
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