Biases influence how you manage your money. The anchoring bias is a fascinating one, and part of the human psyche that is sometimes quite hard to understand. We get ourselves anchored to pieces of information that may or may not have any bearing on the facts and the decisions we need to make. Let’s unpack the anchoring bias and learn how we can try to be aware of it in our lives so we don’t make the classic trading blunders caused by lack of awareness.

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Trade confidently. Louise Bedford is a best-selling author and founder of www.tradinggame.com.au and www.talkingtrading.com.au.

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