Daniel Kahneman - Thinking fast and slow documentary

Trading is often about how to take the appropriate risk without exposing yourself to very human flaws.
stueytrader
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I find the tricky question is turning more general areas of our thinking and reasoning into trading specific ideas. But, I'm working on it. ;)
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Euler
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stueytrader wrote:
Tue Oct 22, 2019 2:31 pm
I find the tricky question is turning more general areas of our thinking and reasoning into trading specific ideas. But, I'm working on it. ;)
It's worth the effort. I've carefully digested every word of his and read all the papers and slowly but surely it leads you in a completely new direction. But a lot of things don't make sense. You will need to get used to the feeling, or of people, saying you are wrong and that you should use your common sense.

You have to learn to detach yourself from 'normal' thought processes. That takes time.
stueytrader
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Euler wrote:
Tue Oct 22, 2019 6:04 pm
stueytrader wrote:
Tue Oct 22, 2019 2:31 pm
I find the tricky question is turning more general areas of our thinking and reasoning into trading specific ideas. But, I'm working on it. ;)
It's worth the effort. I've carefully digested every word of his and read all the papers and slowly but surely it leads you in a completely new direction. But a lot of things don't make sense. You will need to get used to the feeling, or of people, saying you are wrong and that you should use your common sense.

You have to learn to detach yourself from 'normal' thought processes. That takes time.
Yes, I suppose so in both senses. I have tried to apply some aspects directly to my trading, but not got as far as I probably should have done. More study of these areas and papers needed. And the idea of switching away from 'normal' thinking is definitely something I think true of trading in particular.
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Euler
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Lengthy and related to AI, but another interview to gain some wisdom from. It's interesting to hear his comments on deep learning.

https://www.youtube.com/watch?v=UwwBG-MbniY
trader44
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Just bought that book cheers for the heads up :D
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Euler
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Not sure how that can be! It was an interview and posted by the interviewer!
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Euler
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smallplayer
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Euler wrote:
Thu Jan 16, 2020 8:44 pm
Here you go: -

https://www.youtube.com/watch?v=UwwBG-MbniY
thx peter..i deleted my post when i checked back on original date thread started
ps i bought the book also on your advice..real heavy going, thin pages, lots of them and no pictures like chimp paradox :D
jamesg46
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smallplayer wrote:
Thu Jan 16, 2020 8:53 pm
Euler wrote:
Thu Jan 16, 2020 8:44 pm
Here you go: -

https://www.youtube.com/watch?v=UwwBG-MbniY
thx peter..i deleted my post when i checked back on original date thread started
ps i bought the book also on your advice..real heavy going, thin pages, lots of them and no pictures like chimp paradox :D
Every time I listen or read anything from Daniel it seems to send me off on a trail of thought & I never really know how it all began by time the trail ends. I'm on my 3rd round of the book, this time one segment at a time... I think it will take years to fully understand some of Daniel's work, the rest may just be well over my head, but it's worth while to take the time 😁
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Kai
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jamesg46 wrote:
Fri Jan 17, 2020 7:56 am
smallplayer wrote:
Thu Jan 16, 2020 8:53 pm
Euler wrote:
Thu Jan 16, 2020 8:44 pm
Here you go: -

https://www.youtube.com/watch?v=UwwBG-MbniY
thx peter..i deleted my post when i checked back on original date thread started
ps i bought the book also on your advice..real heavy going, thin pages, lots of them and no pictures like chimp paradox :D
Every time I listen or read anything from Daniel it seems to send me off on a trail of thought & I never really know how it all began by time the trail ends. I'm on my 3rd round of the book, this time one segment at a time... I think it will take years to fully understand some of Daniel's work, the rest may just be well over my head, but it's worth while to take the time 😁
Not worried that all this reading will spoil all the fun? :D

Maybe there's a bit of a case for discovering things for yourself at first and forming your own opinions, which you can always then later compare to what the books say if you want or need.
jamesg46
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Kai wrote:
Fri Jan 17, 2020 11:21 am
jamesg46 wrote:
Fri Jan 17, 2020 7:56 am
smallplayer wrote:
Thu Jan 16, 2020 8:53 pm


thx peter..i deleted my post when i checked back on original date thread started
ps i bought the book also on your advice..real heavy going, thin pages, lots of them and no pictures like chimp paradox :D
Every time I listen or read anything from Daniel it seems to send me off on a trail of thought & I never really know how it all began by time the trail ends. I'm on my 3rd round of the book, this time one segment at a time... I think it will take years to fully understand some of Daniel's work, the rest may just be well over my head, but it's worth while to take the time 😁
Not worried that all this reading will spoil all the fun? :D

Maybe there's a bit of a case for discovering things for yourself at first and forming your own opinions, which you can always then later compare to what the books say if you want or need.
Tbh, never really thought of it like that & I can see where you're coming from but I think even if i wasn't trading I'd read... I find psychology & philosophy interesting, probably because it's been a new found interest running parallel to trading.
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Euler
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A breakthrough moment for me was reading a lot of this stuff and finally understand why some things happen that shouldn't. It was the final piece of the puzzle for me.

I then figured if I really honestly understood it, then I should start looking for it in the market. Lo and behold I found them everywhere.
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jimibt
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Euler wrote:
Fri Jan 17, 2020 1:43 pm
A breakthrough moment for me was reading a lot of this stuff and finally understand why some things happen that shouldn't. It was the final piece of the puzzle for me.

I then figured if I really honestly understood it, then I should start looking for it in the market. Lo and behold I found them everywhere.
an example being?? ;)
jamesg46
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People are obsessed with round numbers ;)
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Euler
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Social media is a funny place to look, as it's stuffed full of cognitive biases.

You realise that system one is running amok on social media and some companies business models are geared up to keep on prodding it for a response. It's sort of frightening, but equally reassuring, to see.
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