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Trading Psychology Podcast Ep47: Familiarity Bias 

No Nonsense Forex
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"I only trade EUR/USD, GBP/USD, EUR/GBP, and the NASDAQ". WTF, why? You must have Familiarity Bias, and it creeps up in more cases than just this. Robb and VP list all the ways they know of, give some examples in their own trading, and as always, explain what can be done about it.
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The hosts of this podcast are not licensed financial advisors, and nothing heard on this podcast should be taken as financial advice. Do your own research and understand all financial decisions and the results therein are yours and yours alone. The host is not responsible for the actions of their sponsors and/or affiliates. Conversely, views expressed on this podcast are that of the host only and may not reflect the views of any companies mentioned. Trading anything involves risk. Losses can exceed deposits.

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30 окт 2023

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Комментарии : 15   
@thealternativecontrarian9936
@thealternativecontrarian9936 8 месяцев назад
It just shows that most people don't understand the purpose of trading. It's to use these financial instruments to make money. I had a friend who's career was in IT and when I introdced stock trading to him, his eyes lit up when I talked about stocks of companies who were in the field of tech risk. At the time I knew what he was saying was wrong but I couldn't explain to him why, but after this podcast I can explain familiarity bias.
@softelectrock52
@softelectrock52 8 месяцев назад
Love the cover snapshot, and I want to say that maybe the more familiar you are with several specific pairs, the less familiar you are with your trading system, if there's any. Keep up the great job!
@darkostefanovski7647
@darkostefanovski7647 7 месяцев назад
Go VP 🎉🎉🎉
@brilluckychannel831
@brilluckychannel831 8 месяцев назад
i think i trade GU Only for better risk management but we can shift to other pair but we must reduce risk
@brilluckychannel831
@brilluckychannel831 8 месяцев назад
that is the only reason i use one pair
@WSVGL
@WSVGL 8 месяцев назад
This one hits me pretty hard but I hate to admit it sometimes.
@HajiWarithuHajiTengah
@HajiWarithuHajiTengah 8 месяцев назад
How about tested an instrument ie. Nasdaq, and only trade that knowlingly when to enter only , would that be consider familiarity bias ?
@DerianCambridgewest-lt6ze
@DerianCambridgewest-lt6ze 7 месяцев назад
One time bobby simpkins sat me down and taught me a lesson about reality. Got my mind right
@ferrod15
@ferrod15 8 месяцев назад
Price action trader vs indicator trader. Love the way they agree to disagree 😅
@danielciriello4261
@danielciriello4261 7 месяцев назад
I use a watchlist for a different reason, this tells me which fx pairs are a day or 2 from a potential entry signal.
@NoNonsenseForex
@NoNonsenseForex 7 месяцев назад
Do you find it necessary? I just toggle through every pair for a couple of minutes.
@danielciriello4261
@danielciriello4261 7 месяцев назад
@@NoNonsenseForex its not necessary but its nice to see a group of potential trades coming up, I get what Robbs saying though don't limit yourself to certain stocks.
@Richbeatz70
@Richbeatz70 8 месяцев назад
They all pay the same. Your choice if you want to trade one instrument or a group of them.
@zederish
@zederish 8 месяцев назад
This podcast in my opinion was mostly nonsense.
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