Via Clay Trader

The human mind is an awesome place… well… assuming it is being operated under the right circumstances and structure. What do I mean? The Near Miss Effect has been researched and studied quite significantly in the world of science and psychology and “why it exists” is actually pretty great. The downside is, it can turn into a savage and counterproductive mechanism to work against our goals is we are not aware of it. Given I have been working with traders since 2013 and combing that with the countless customer service interactions I’ve had, I can say with full authority and confidence that this “effect” is alive and well in the world of the financial markets. The question truly boils down to your understanding of it and whether you are using The Near Miss Effect to help or hurt your trading ambitions. Let’s do some science!

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