Bias
In trading, a bias is usually understood as a certain preference on price direction and magnitude of the movement, based on predetermined mental notions and beliefs. It is known than when traders are biased, they have not objectively acknowledged the available data, in other words, they are not listening what the market is telling them. Sometimes, despite all evidence traders opt to ignore the markets messages and trade based on a bias.
In statistics it means an inaccuracy in data due to the characteristics of the process employed in the creation, sampling, manipulation, and presentation of data.
