In trading, biases lead to wrong decisions, resulting in losses. But what are these biases, and how to fix them? Once you understand them, only then can you fix them. Somesh is here to talk about the trading biases that will keep you poor if you do not fix them. He discusses the different biases that traders have, how they negatively impact traders, and how to fix them.

In this episode, Somesh discusses:

• What are twin biases or cognitive biases in trading
• Understanding the root cause of your biases
• The negative impact of biases in your trading
• Some of the common cognitive biases and how to fix them:
• Confirmation bias
• Anchoring bias
• Overconfidence bias
• Loss aversion bias
• Availability bias
• Gambler’s fallacy bias

Memorable Quotes:

“If you don’t know what to fix, you will never be able to fix it.”

“If you can master your mind, you might end up rich. If you do not master your mind, you might end up working for someone who does.”

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

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