Why Are We More Emotional with a Loss Than a Win in the Stock Market
★ SUMMARY ★
When it comes to the concept of emotional loss vs. emotional win: why are we more emotional with a loss than a win in the stock market?
Attachment to Current State
We are more attached to our current state – what we have – than we are our future state. This also applies to other things like our friends, our money, etc.
For example: when it comes to our friends, we are quite attached to people we closely associate with and people we know. A death in the family would stir more emotion in us than the feelings we have toward gaining a new friend.
Same goes for our financial state; we are more attached to our current finances than our prospective finances. If I asked you, “Would you rather get $1000.00 now or a penny every day for the next 20 years?” – You would likely pick the $1000.00, because you are more interested in instant gratification.
Posted at: http://tradersfly.com/2014/11/emotional-loss-win-stock-market/
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1 penny a day for 20 years is $73….
I really like this because it even reminds me of a philosophy Tai Lopez talked about, how through the evolutionary chain our minds are wired to focus on the bad rather than the good when we have a choice between the two, as a survival instinct.
what if i said i would take the 1,000$ now because a penny a day for 20 years is significantly less
Thanks Sasha. I learned a lot from your videos, recap. You're the best!
I'm new to trade, Tell me if I plan right, since it drop, but I don't think it will tank to zero, I mean it's big company right. And I wait, buy more shares at low, sell it high to cover previous trade. Thanks!
Hi sasha great video as always .
You should do a video on CFD's
I hear lots of thing about them but dont really understand
I should listen to you, don't play earning, I play with Priceline today, got hit bad. I'm still hold it, and I am emotional. What I need to do?
Thanks Sasha