The Trading Psychology Podcast Ep78: Election Psychology
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Nov 4, 2024 Elections can stir up market volatility, prompting traders to reassess their strategies. The podcast discusses how emotional biases shape trading decisions, influenced by political events and personal identities. It explores the intricate relationship between sports fandom psychology and trading behavior. By examining historical election outcomes, the hosts urge traders to remain objective amid political noise. The connection between personal beliefs and economic perceptions reveals the complexities of market psychology, stressing data over political allegiance for sound decisions.
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Pre and Post-Election Trading
- Avoid trading during the election period due to heightened volatility.
- Resume trading by Thursday or Friday to assess the market climate.
Unexpected Fandom
- Robb Reinhold's mother recently became a Yankees fan.
- Her newfound fandom has led to illogical anger towards the Astros.
Team Identification and Bias
- Identifying strongly with a team can lead to biased reasoning.
- This bias manifests as blaming external factors for losses and claiming personal credit for wins.