Quote from: oda.krell on April 26, 2018, 03:06:13 PM

Quote from: tee-rex on April 26, 2018, 02:05:05 PM

I kind of understand your approach but wouldn't it be better and more effective to find out where you fail exactly in your strategy and then focus on fixing the broken part in a right way? I mean, not by offsetting one bias by another bias. If your approach works for you, then certainly stick to it, but it may fail you one day. For example, when what you automatically consider a bias is not in fact a bias but actual representation of the market situation.

Absolutely. Correcting mistakes in your strategies is also crucial. But OP asked about controlling your emotions, and I believe (a) that emotions are unavoidable to some degree for human traders, and (b) that they can be seen as some form of statistical biases. If removing these biases is not an option, then countering them in the way I described seems to be the next-best option.

Yeah, I see your point. But I still think that in the case you can't control your emotions, you'd likely fare much better if you go by numbers. In this manner, you won't be multiplying your biases brought about by emotions. If you ask me, the first way (going by numbers) would provide more consistent results in the long run even if your strategy is totally subpar and not giving you results you are looking for. You will just be able to see that at once with no emotions involved and biases they cause.