Representativeness: Decide that a small sample represents the bigger picture. Tendency of people to predict unlikely events. Availability bias: estimate probability of event with the ease that we remember it.
All Traders use Models Novice - The trader works on his gut feeling. Reasons for trading are purely in his head. Discretionary – Majority – The Trader marries gut driven
Forming a plan for market movements Markets do not have an organized structure. In the absence of a formal structure, traders should develop some kind of a structure to track
Type of Day’s movements: Markets are uncertain. They don’t have any structure. So we should be always ready to face any type of movements. Type of Days: We can
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