121: Michael Mauboussin – Tactics for Better Decision Making, and Skill Versus Luck
Chat With Traders
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How to Build Trust in Your Process
How does one build trust in their process? That's really difficult. The basic idea is make sure it's transparent, repeatable, and economically or mathematically sound. Is there ever a circumstance when your process does need to be somewhat influenced by the outcome? If your process is just constantly dishing out losing trade after losing trade, obviously your process needs some refining.
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