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How to Trade with Conviction & Avoid the Perils of Overconfidence
http://www.financial-spread-betting.com/strategies/starting-out.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! The Perils of Overconfidence; Overconfidence Versus Conviction. Why do we want conviction in our trading? We want to be in the trade and we want to have conviction to pull the trigger and hold the trade till its maturity date. Its not second-guessing ourselves - that's key. Overconfidence is overconfidence in your ability to predict the market as a trader. I think we've all been there; I've been there myself as well as lacking conviction. Overconfidence comes with saying 'I can do what I want here, I can pick a chart, stock and entry - I'm a genius'. That won't work in the long term; you might get lucky and it might work in a few times but then it smacks you. If you're overconfident you will end up holding on to losers even when the market is telling you that you're wrong. Give yourself some boundaries - at least limit the amount you put at risk on a trade. If you drilling down into conviction - if you are thinking about interfering with your trading setup you don't really believe in your trading plan. If you don't have conviction you aren't certain in your mind that following your trading plan or strategy is the best thing to do. Look back at your trades - your trading diary and journal and examine how you would have performed if you had followed your plan by the book. Redoing.
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https://www.youtube.com/watch?v=1OsBFYsQ-UUAbout the Site 🌐
This site provides links to random videos hosted at YouTube, with the emphasis on random. 🎥
Origins of the Idea 🌱
The original idea for this site stemmed from the need to benchmark the popularity of a video against the general population of YouTube videos. 🧠
Challenges Faced 🤔
Obtaining a large sample of videos was crucial for accurate ranking, but YouTube lacks a direct method to gather random video IDs.
Even searching for random strings on YouTube doesn't yield truly random results, complicating the process further. 🔍
Creating Truly Random Links 🛠️
The YouTube API offers additional functions enabling the discovery of more random videos. Through inventive techniques and a touch of space-time manipulation, we've achieved a process yielding nearly 100% random links to YouTube videos.
About YouTube 📺
YouTube, an American video-sharing website based in San Bruno, California, offers a diverse range of user-generated and corporate media content. 🌟
Content and Users 🎵
Users can upload, view, rate, share, and comment on videos, with content spanning video clips, music videos, live streams, and more.
While most content is uploaded by individuals, media corporations like CBS and the BBC also contribute. Unregistered users can watch videos, while registered users enjoy additional privileges such as uploading unlimited videos and adding comments.
Monetization and Impact 🤑
YouTube and creators earn revenue through Google AdSense, with most videos free to view. Premium channels and subscription services like YouTube Music and YouTube Premium offer ad-free streaming.
As of February 2017, over 400 hours of content were uploaded to YouTube every minute, with the site ranking as the second-most popular globally. By May 2019, this figure exceeded 500 hours per minute. 📈
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