Dunning kruger traders

This is an example of Dunning Kruger test

Trading Education Buyer said:
Here is a example of delusions , apply same delusions to a trader

At five foot six and 270 pounds, the bank robber was impossible to miss. On April 19, 1995, he hit two Pittsburgh banks in broad daylight. Security cameras picked up good images of his face — he wore no mask — and showed him holding a gun to the teller. Police made sure the footage was broadcast on the local eleven o’clock news. A tip came in within minutes, and just after midnight, the police were knocking on the suspect’s door in McKeesport. Identified as McArthur Wheeler, he was incredulous. “But I wore the juice,” he said.

Wheeler told police he rubbed lemon juice on his face to make it invisible to security cameras. Detectives concluded he was not delusional, not on drugs — just incredibly mistaken.
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Dunning Kruger traders process their beliefs , INFORMATION , BIASES AND PSYCHE IN REAL TIME.They have no idea about real trading , but they think they know it all.

At the most basic level, people must trade by processing information. Unfortunately, we're not very efficient information processors. We have a lot of biases that enter into trading decisions.
Consider the trading rules that work: 1) follow the trend; 2) let your profits run; 3) cut your losses short; and 4) manage your money (i.e. risk) so you can stay in the game. If you design something around following those rules, you'll make a lot of money. This all about Trading Psychology.

A trader is his own worst enemy ,the enemy is within , because the odds are against the trader .Most humans are not capable of being rational and behave rationally in trading , with the negative edge ,with losing emotions , stress , trend chop outs , psyche , losing sequences/ drawdowns and winning periods

https://www.elitetrader.com/et/threads/dunning-kruger-traders.303402/#post-4341650

https://www.elitetrader.com/et/threads/winners-versus-losers.303364/

https://www.elitetrader.com/et/thre...-processing-information-about-a-trade.303149/

https://www.elitetrader.com/et/threads/traders-trade-emotions-they-dont-trade-methods.303238/

https://www.elitetrader.com/et/threads/trading-with-emotional-intelligence-than-emotionless.299723/

study stress responses , dealing with uncertainty ,the need to be right

https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=stress+responses

https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=the need to be right
 
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Is Einstein novice in this field or is it Monkey?
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Is monkey better expert in the field?
 
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Trading Education Buyer said:
Dunning Kruger traders process their beliefs , INFORMATION , BIASES AND PSYCHE IN REAL TIME.They have no idea about real trading , but they think they know it all.
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You have TOTALLY missed the meaning of the "Dunning Kruger" effect.

Which should lead a normal, rationally functioning person to the realization that they might be suffering from it themselves but sadly that wont be the case for those that genuinely suffer on the low functional side because the "Dunning Kruger" effect explains that those that suffer from it DON'T have the necessary skills to self asses that they themselves suffer from it.
 
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