Trader Mindset

Annie Duke Thinking in Bets

Feb 6, 2018
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ADVICE

Use Regret to Guide Decisions

  • Use regret as a tool before making decisions to avoid later disappointment.
  • Practice "backcasting" by imagining how you'll feel about a choice in the future to influence present behavior.
ADVICE

Join Groups To Process Feelings

  • Join a group to share feelings about decisions instead of just outcomes.
  • This fosters honest, emotional feedback and helps you understand and regulate decision-related feelings.
INSIGHT

Small Changes Yield Big Gains

  • Small improvements in decision making compound to large gains over time.
  • Being less hard on yourself helps sustain progress and reduces the "what the hell" effect.
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