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Trade Like the Ghost Is Watching
by Blake Young
Hey trader,
"Dance like nobody is watching; love like you've never been hurt; sing like nobody's listening; live like it's heaven on earth."
Both Mark Twain and William W. Purkey have been credited with this saying. Regardless of its origin, the sentiment holds.
My reading of this quote is simple: live authentically, and don't let your ego or the opinions of others prevent you from living your happiest, fullest life.
With that in mind, I want to offer a twist for traders: "Dance like nobody is watching, but don't trade that way."
I have been trading for nearly 26 years and have experienced both significant successes and, frankly, significant losses. One core principle has held true throughout: I trade better when someone is watching.
Years ago, I came across a study by psychologist Jesse Bering, often referred to as "The Ghost in the Lab." Participants were asked to complete tasks with specific steps and rules.
When the person who gave the instructions remained in the room, test subjects followed the rules with near-perfect accuracy. The same held true when a camera was present and subjects were told someone would be watching.
When oversight was removed, accuracy dropped to around 60%.
What I found most fascinating came next...
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