Binding: Paperback
Description: This book is the first to demonstrate the practical implications of an important yet under - considered area of psychology in helping traders and investors understand the biases and attribution errors that drive unpredictable behaviour on the trading floor. Readers will improve their chances of trading successfully by learning where cognitive biases lead to errors in stock analysis and how these biases can be used to predict behavior in market participants. Focusing on the three major types of bias Belief - Formation Quasi - Economic and Social the book provides a rigorous discussion of the literature before explaining how each of these biases plays out in financial markets. The author brings together the fields of philosophical psychology and behavioral finance to introduce "theory of mind " providing readers with tools to predict biases in others as well as using these predictions to form optimal trading strategies for themselves. Readers will also learn to understand their own behaviors counteracting biases such as overconfidence and conformity and the "curse" of their own knowledge to strengthen trade performance. Pairing his skill and experience with an extensive research bibliography Short positions the foundational sources of cognitive biases alongside concrete examples experimental designs and trader's anecdotes helping readers to apply theoretical guidelines to real - life scenarios. Shrewd professionals and MB a students will benefit from The Psychology of Successful Trading's intuitive structure and practical focus.
Title: The Psychology Of Successful Trading Behavioural Strategies For Profitability
Author(s): Short Tim (University College London Uk)
Publisher: Taylor & Francis Ltd
Barcode: 9781138096288
Pages: 188 Pages
Publication Date: 11/20/2017
Category: Advice On Careers & Achieving Success