This is the habit of giving opinions and advice on matters outside of one’s knowledge or competence.
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The Dunning-Kruger Effect is the mind's tendency to overestimate one’s own knowledge or competence and to underestimate one’s own ignorance. It usually occurs when the information is unknown to us, with one peculiar complication: The information that something is unknown to u...
To avoid confirmation bias (cherry-picking only ideas that support your decisions), seek outside opinions and advice from people who bring different perspectives to your situation.
The most common fear is the fear of the unknown, where uncertainty and lack of knowledge of the forces at play can lead to a feeling of gambling away one’s money.
This fear can be overcome by expanding one’s knowledge about trading by taking a course or reading relevant b...
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