Why a trader who earns a million dollars is different from a doctor who earns the same amount

Source: http://musingzebra.com/what-kind-of-buckets-do-you-have/

What is your biggest investing mistake? Ask this question and you’ll recall the stock that gave you the biggest losses. It is intuitive. Losses get attributed to “I have made mistakes”. We throw them into the ‘Bad outcome’ mental bucket so we can learn what have we done wrong in order to avoid making the same mistakes again. This is the same for gains. We place them in the ‘Good outcome’ bucket because we made some good money. We made the right decision and we want to do more of it. However, the cause and effect relationship rarely works in a straight line because of luck and randomness.

Submitted October 08, 2018 at 06:51AM by dreamxite https://ift.tt/2OJFkOa