Raghee and Rob also talk about how traders typically deal with losses and how they treat themselves in response to loss. They discuss how most traders will fear losses far more than they will ever enjoy any gain. Raghee discusses the employee mentality versus the entrepreneur mentality and how traders live in a results economy.
Raghee also gives an example of how the NFL football drafting process illustrates our tolerance and patience for how soon we want a return on our investment. They talk about expanding one’s time horizon in order to keep short-term set-backs in perspective, as well as the concept of point of validity. Don’t miss this one!
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