When it comes to making investment decisions, especially in a market as wild as cryptocurrencies, how much weight should be attributed to what can generally be called your "gut feeling" or "intuition"?
That's what I'll be exploring in this video. Let me know what you think!
My rules are simple:
To sum it up: Don't be blind, but trust your intuition first. 😀
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Traders and investors in the financial markets frequently talk of the importance of gut feelings for selecting profitable trades. To find out the extent to which this belief is correct, researchers from the Universities of Cambridge and Sussex in the UK and Queensland University of Technology in Australia compared the interoceptive abilities of financial traders against those of non-trader control subjects.
This form of trading requires an ability to assimilate large amounts of information flowing through news feeds, to rapidly recognize price patterns, and to make large and risky decisions with split-second timing. This niche of the financial markets is particularly unforgiving: while successful traders may earn in excess of £10 million per year, unprofitable ones do not survive for long.
The study took place during a particularly volatile period – the Eurozone crisis – so the performance of each trader reflected his ability to make money during periods of extreme uncertainty. The researchers measured individual differences in each trader’s capacity to detect subtle changes in the physiological state of their bodies by means of two established heartbeat detection tasks. These tasks test how accurately a person, when at rest, can count their heartbeats. Each trader was given a score which, essentially, measured the percentage of right answers, and these scores were compared against data from 48 students at the University of Sussex.
The researchers found that traders performed significantly better at the heart rate detection tasks compared to the controls: the mean score for traders was 78.2, compared to 66.9 for the controls. Even within the group of traders, those who were better at the heart rate detection tasks also performed better at trading, generating greater profits.
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Happy valentine day
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ive been through those feelings of something being wrong with myself and it does hinder you to things. but on the other hand that gut feeling can come in to play for the positive. but like you said you gotta sit back and reflect on whats going on and try to make a rational decision.
Cheers
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Emotion is a traders worst enemy. Realize you are subject to sentiment and go with logic. That's what makes bots good at what they do.
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Generally I have always followed my gut feeling and most of the time it has been a wise choice. The one exception to this general rule is investing especially trading. Following your gut feeling in this domain can be very profitable but the risks of not admitting when you are wrong which I think we as humans are loathe to do, can be extremely costly and that is why so many people lose money with trading / investments. Especially if you are trading you need to master the concept of taking losses early which is easier said than done.
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INTJ for the win!
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I think that in crypto it's a little scary to go with the gut ... smart thinking and wise investing goes a long way, even if you may be wrong here and there, you'll end up better off than more times than not in my opinion. Interesting topic tho ... thanks for the vid
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depends on your personality , you could laid back and pick a coin you like the name of and get something back or analyse it all and get nothing or vice versa , it is the way it goes I think
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Wish I paid more attention to my gut feelings when altcoins were all at all time highs in early January,
Thanks, I’ve followed!
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Experience = knowledge... I'm grateful to have gone through this and thankful to have got into the space at the right time last summer.
One of my favorite sayings is "luck is a combination of opportunity and preparation". And now we are far more prepared.
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Say no to gut feelings. Most folks lose money that way. Don't. Do. It. Just use your brain people.
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I think sometimes you do just know that the market is overvalued as the augmentation happens so fast when nothing much has changed on the ground, and in these moments it's very sensible to profit take and hedge.
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Depends on who you are, when it comes to intuition. Personality is everything. Stress matters too. but if you want your intuition to really work for you, do things like Yoga, intermittent fasting, and declutter your life into simple experiences that work best. That said, as an investor I mostly only use my intuition to help with my choice of management - which is the most important choice in any stock or cryptocurrency choice. Its not much useful for much else in market activities.
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