We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.41%, while traders in US 500 are at opposite extremes with 78.13%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/zwiEeGWqsC
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.04% 🇯🇵JPY: -0.09% 🇳🇿NZD: -0.13% 🇪🇺EUR: -0.19% 🇬🇧GBP: -0.31% 🇦🇺AUD: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BvewuY23QZ
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.05% France 40: -0.08% Wall Street: -0.12% FTSE 100: -0.18% US 500: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wzqg2S1F14
  • Wall Street Futures Update: S&P 500 (-0.225%) Dow Jones (-0.126%) Nasdaq Composite (-0.194%) [delayed] -BBG
  • The US Dollar is attempting to find direction against the Singapore Dollar, Philippine Peso and Indonesian Rupiah as technical levels hold. The Malaysian Ringgit eyes a key trend line. Get your market update from @ddubrovskyFX here:https://t.co/lcSLkOnJgQ https://t.co/u3JfwxpCvh
  • The $USD is falling against #ASEAN currencies such as the Singapore Dollar and Indonesian Rupiah as stock markets rise. Watch out for US-China escalation and Brexit talks. Get your market update from @ddubrovskyFX here:https://t.co/PziC8KZaIC https://t.co/cQWfmGnb4H
  • (Commodities Briefing) #Gold prices sank as #ADP estimated a smaller contraction in jobs ahead of #NFPs. #CrudeOil prices may fall with the OPEC+ meeting in doubt as #WTI left behind a Doji candlestick #OPEC - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/06/04/Gold-Prices-Sink-Crude-Oil-Risks-Falling-with-OPEC-Meeting-in-Doubt.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/fjAnPB3Rc1
  • Seasonal factors, oversupply issues and the outbreak of COVID-19 has seen the price of liquefied #naturalgas (LNG) fall to 22-year lows (1.519), with the situation exacerbated by ‘fuller-than-normal’ storage facilities. Get your market update here:https://t.co/VOqfkBQ4aR https://t.co/fvyX0wfWcg
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.34% Silver: -0.33% Oil - US Crude: -1.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/VFJfH2lsYE
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.00% 🇨🇭CHF: -0.05% 🇳🇿NZD: -0.07% 🇨🇦CAD: -0.12% 🇬🇧GBP: -0.25% 🇦🇺AUD: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/9wAQM4BGpE
Strategy Video: Don't Be Lulled by the Comfort of Consensus

Strategy Video: Don't Be Lulled by the Comfort of Consensus

2014-11-29 00:22:00
John Kicklighter, Chief Strategist
Share:

Talking Points:

• There is a cognitive bias whereby traders seek the consensus in position and opinion

• This happens even when that view leads to losses - whereby the loss is 'okay' because everyone else lost

• We discuss how we can coach ourselves away from this irrational behavior

Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!

When a market keeps rising, complacency and status quo can work in our favor. However, many continue to seek this consensus even when it means a dwindling account. The concept whereby someone feels comforted by a loss or losing strategy so long as 'everyone else is losing' is a cognitive bias that is rooted in socialization. As irrational as it may be to applying a profitable strategy, the contentment can be difficult to override. In this weekend Strategy Video, we discuss this cognitive bias, establish means for coaching away from it (recognizing it is the first, very important step) and use the analysis on a few areas where this concept may be running rife.

Sign up for John’s email distribution list, here.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.