TraderFeed: The Power of Cognitive Flexibility in Trading

I like the “flexible commitment” idea.

 

Clearly there is an alternative to blind overconfidence and skittish lack of staying power in ideas.  That alternative, I believe, is flexible commitment.  We can be committed to a course of action at the same time that we’re open to modifying it.  Military leaders know this well:  you create a strategy, but few strategies survive the fog of war.  You are always ready to modify the strategy based upon conditions on the ground.

via TraderFeed: The Power of Cognitive Flexibility in Trading.

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