Lesson 5: Stock trading and life success: Eliminating cognitive biases

Stock trading and life success: Eliminating cognitive biases with Jason Bond Stock Picks

 

Jason Bond Stock Picks does not follow conventional investing wisdom! “Buy low, sell high” is a famous investing and stock trading saying, basically the equivalent of bargain hunting. Although it seems like a very simple stock trading strategy, it is notoriously difficult to execute.

It is much easier to be successful at a very different trading strategy. This trading strategy is not initially intuitive to the new stock trader – Buy high, sell HIGHER! But you are unlikely to find this discussed in the media. All top stock traders know this momentum strategy is the real deal and one of the secrets to trading success!

 

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Media Bias

This ‘buy low, sell high” is a good example of one of the cognitive biases that limit stock trader’s success!

We tend to think that something is true when we hear it often. For example, you probably think that swimming in the ocean or in southern California means certain death by shark attack! But you have more chance of being hit by a piece of metal from a plane falling from the sky than being eaten by a shark.

In the media, you only hear the ending story of a person’s success; you never hear their whole progress because it doesn’t sell.

They don’t show that Arnold Schwarzenegger started at 14 years old, and that he worked out 6 hours day for a decade before he was even known as Arnold Schwarzenegger. Learning to stock trade successfully takes hours and hours of dedication so don’t be fooled by any ‘overnight’ success stories in the news!

The Lottery Mindset

Most and everything never happens in an instance. Progress takes time; the media bias has taught us that everything comes to us like winning the lottery, where you suddenly just happen to run into success from nothing to something without going through hardship and progress of the ten dark years.

The Grind of Life and the Sculpture Approach

You must learn to love the grind, because life is the grind. Each and everyday chip away the rock, one piece at a time into a sculpture. The rock represents your strengths, and you can only build on strength; you cannot build from weakness let alone something you are not capable doing at all.

 

buffet-quotes

“Love your life, perfect your life, and beautify all things in your life. Seek to make your life long and its purpose in the service of your people.”—Tecumseh

Magazine articles that explain a successful person’s progress are usually over simplified to what the real truth of what that person really went through. The over simplification of things is the narrative bias that is linked to the media bias. You want things simple, but not over simplified. Think of life in 18 month sequences instead of taking the media bias that everything happens overnight.

You must understand that things don’t happen overnight, that you won’t be rewarded suddenly just because you started doing something productive. Allow your brain to adapt into that new habit, and then become it; overtime this will allow everything to start coming together slowly. When it comes to improving the 4 aspects, don’t take the lottery approach such as quick fixes. It is better to chip the sculpture slowly every day, and allow it to become however you imagined it to be.

“Step by step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts. Slug it out one inch at a time, day by day. At the end of the day – if you live long enough – most people get what they deserve.”— Charlie Munger

 

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