Concerned TraderSuccess in trading usually depends on careful analysis and evaluation of various economic indicators relevant to certain markets. But sometimes it can’t be helped that there are certain human tendencies that may also affect trading decisions along the way. But there are many times that these human tendencies may prove to be quite detrimental to achieving trading success. Here are some of those bad human tendencies.

Believing Biased Facts

A lot of trading decisions are made up based on technical evaluation of facts and indicators. But there are many times that such decisions may be affected by biased facts and information that one may derived from all around. Along with stated economic facts and indicators, a lot of traders may get their information from business news on TV.

While there are times that such data and information may be objective, a lot of times such information may be considered as biased and may not provide the trader with the bigger picture of the market. Sometimes even opinion may be mixed up with the facts eventually that may sometimes sway an important trading decision based on a certain biased fact.

Fear Of The Unknown

Another bad human tendency that may usually affect a lot of traders is that common fear of the unknown. Most people tend not to veer away from their comfort zones most of the time for fear of not knowing what the future may hold for them in case they do. It is this fear that may rob some traders of certain opportunities despite getting facts that would otherwise convince them of making the right move. Fear of the unknown may also sometimes lead many traders into inaction and complacency which can prove to be disastrous in the long run.

False Anticipation

Another common human tendency not likely to help in the trading profession is that sense of false anticipation. It can be easy for people to anticipate good outcomes from their actions after they have done it. It can create a sense of excitement that can sometime be quite addicting. But on the other hand, too much of it can also let people dwell on the anticipation of the future rather than doing what they can in the present. Too much false anticipation can amount daydreaming all day long of good things while tasks that need to be done in order to achieve them are being left undone.