What are effective ways for traders to overcome psychological biases like loss aversion and overtrading?
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Traders can overcome psychological biases like loss aversion and overtrading by implementing structured trading plans, establishing clear risk management strategies, maintaining trading journals for self-awareness, and regularly reviewing performance to promote disciplined decision-making.
Traders can overcome psychological biases like loss aversion and overtrading by developing a clear trading plan, setting realistic goals, practicing discipline, maintaining a trading journal, implementing risk management techniques, and taking breaks during stressful periods.