MICHEL PIREU: Realising trading is a game of chance can strengthen one’s abilities
The right decision often only needs one good reason to validate it. Adding additional reasons may make us feel better, but it doesn’t necessarily make our decision any better.
Likewise, more analysis will not necessarily produce better results. Many, perhaps most, traders believe more, or better, data and analysis is going to give them an edge. It’s a belief many of us find difficult to let go of, until we come to accept that we can’t use analysis to overcome the fear of being wrong or of losing money. It just doesn’t work! The only way to do that is to learn more about ourselves, and our abilities.