TRUMPED: Understanding Cognitive Biases in the Markets
As investors and traders, if we want to be good at what we do, we need to be objective. We can't get emotional. We all know this, but - it's not easy! Humans are emotional creatures and that's why we trade algorithmic systems. We want to make money, and not have huge losses. The best methods that everyone agrees with - mostly - is the scientific method. This includes simple deductive logic and reasoning. "Belief" is not profitable in the markets. "Hope" is not a successful strategy. However, these themes pervade our culture, and especially our politics. Why?