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Poker and Stock Trading Psychology

Part III

by Alan Schoonmaker |  Published: Aug 21, 2013


Parts one and two recommended studying the stock-trading and investing literature because it is far more advanced than the books and articles about poker psychology. Trading and investing psychology is based on well-controlled research and millions of publicly recorded transactions, while almost everything written about poker psychology is based upon anecdotes and opinions, not scientifically acceptable data. James Montier’s Behavioral Investing: Insights into Irrational Minds and Markets was the earlier articles’ primary source. This one repeatedly quotes from the first five pages of Montier’s The Little Book of Behavioral Investing: How Not to Be Your Own Worst Enemy. That title resembles my own Your Worst Poker Enemy. Both books describe how and why we hurt ourselves and recommend ways to become less self-destructive. Please note that I said “less self-destructive” because we will always make mistakes. All we can do is make fewer and less destructive ones. Emotions Are Our ...

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