ive here. Cryptocurrency has been trading since 2017 and later it got into stocks. I have 3 board exams in financial markets and I studied economics from a 1 year undergraduate university. Day job – math teacher. 👩🏫
Have you ever wondered what it takes to become a good and profitable trader? Have you ever wondered how long it will take before you master the art of trading? Dunning Kruger and I are going to let you in on a little secret – the journey of pretty much everyone who has ever started trading is illustrated in the chart above.
The Dunning-Kruger effect, in psychology, is a cognitive bias in which people with limited knowledge (in a particular intellectual or social field) greatly overestimate their knowledge or competence in that field relative to objective criteria or performance. Comrades or of people in general. This happens in trading all the time. In fact, We probably all started there to be honest.
So – what causes the Dunning-Kruger effect? Trust is so valuable that many people would rather pretend to be smart or skilled than risk appearing inappropriate and losing face. Even very intelligent people can be affected by the Dunning-Kruger effect because having intelligence is different from learning and developing a specific skill. Many people mistakenly believe that their expertise and skills in one field can be transferred to another. Many people describe themselves as above average in intelligence, humor, and a variety of skills. They cannot accurately assess their competence because they lack metacognition, or the ability to step back and examine themselves objectively. In fact, those who are less skilled are also more likely to overestimate their abilities. This also relates to their ability to judge how well they are doing at work, hobbies, etc.
The Dunning-Kruger effect results in what is known as the double curse: not only do people perform poorly, but they are not self-aware enough to judge themselves accurately—and thus are less likely to learn and grow. How do we prevent ourselves from falling into this trap? Here are some things to keep in mind: To avoid falling victim to the Dunning-Kruger effect, you should honestly and routinely question your knowledge base and the conclusions you draw, rather than blindly accepting them. As David Dunning suggests, people can be Satanists themselves, challenging themselves to examine how they could be wrong. Individuals can also escape the trap by looking to others whose experience can help cover their own blind spots, such as turning to a colleague or friend for advice or constructive criticism. Continuing to study a particular topic will also bring one’s ability to focus more clearly.
Practice these habits to finally escape the double curse:
Continuous learning. This will keep your mind open to new opportunities, while increasing your knowledge over time.
– Pay attention to who is talking about what. Is the accountant talking about bodybuilding?
Don’t be overconfident. This is self-explanatory.
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BTCUSDT by CryptoCheck-
– technical analysis – 2022-12-18 00:06:16 – coinphone [SV]