Doubt and uncertainty make us feel uncomfortable.
And when we don't have clarity, we start rushing decisions to avoid that feeling of uncertainty.
When in doubt, take a deep breath and sleep on it before making a decision.
Mental models can save your life.
But psychological biases can ruin it.
Here are 10 psychological biases to help you avoid a life of pain and suffering:
Doubt and uncertainty make us feel uncomfortable.
And when we don't have clarity, we start rushing decisions to avoid that feeling of uncertainty.
When in doubt, take a deep breath and sleep on it before making a decision.
When we want something badly, we start overestimating our odds of success.
It's why so many people bet on their sports team to win.
It's also why millions buy lottery tickets.
Don't let what you want cloud your judgment of what you should do.
The tendency to treat others as they've treated us.
When treated well: "You scratch my back, I'll scratch yours."
When treated badly: "An eye for an eye."
Sometimes this tendency can lead to endless conflict.
Resist the urge to reciprocate bad behaviour.
We copy other people's behaviour when making decisions.
Especially when we're feeling uncertain.
This is why so many ads have celebrity endorsements and user testimonials.
Next time you make a decision, be mindful of other people's influence.
The psychological pain of losing something is twice as strong as the pleasure of gaining it in the first place.
It's why many gamblers go broke trying to recover from their first loss.
Be careful not to overreact when you lose something you value.
Humans have evolved to avoid pain - it's how we survive.
But this bias often leads us to avoid short term psychological pain instead of facing reality - aka denial.
This commonly happens in market bubbles when investors lose touch with business fundamentals.
We have an innate need to appear consistent to others.
We're afraid of people calling us a hypocrite.
But this prevents us from changing dangerous beliefs and harmful behaviours.
Keep this in mind next time you're trying to change a bad habit.
We have a tendency to follow people in positions of authority.
Children follow parents. Soldiers follow generals. Students follow teachers.
But too much blind faith in authority can lead us to follow the wrong people.
Always question the person "in charge."
More from Zain Kahn
I went from zero to leading marketing teams in 5 years.
But I never studied marketing in college.
Those 5 years I spent 1,000+ hours studying 100s of books and resources.
I've distilled everything I learned in those 5 years into 7 simple frameworks.
Here they are ― for free:
1. How to write world class
2. Master the psychology of
3. Learn how to
4. Use the best marketing
But I never studied marketing in college.
Those 5 years I spent 1,000+ hours studying 100s of books and resources.
I've distilled everything I learned in those 5 years into 7 simple frameworks.
Here they are ― for free:
1. How to write world class
Apple, Nike, Coca Cola.
— Zain Kahn (@heykahn) September 7, 2021
3 legendary companies. 1 common marketing trait:
Great copywriting.
Here are 10 copywriting tips to help you master marketing:
2. Master the psychology of
10 principles from psychology to master marketing:
— Zain Kahn (@heykahn) July 26, 2021
3. Learn how to
Being a new manager is scary.
— Zain Kahn (@heykahn) March 15, 2022
You're suddenly responsible for leading a team and you have no idea how to do it.
I've served as a manager and executive at several companies.
Here's a step by step cheatsheet to help you become a better leader today:
4. Use the best marketing
The right marketing tools give you superpowers.
— Zain Kahn (@heykahn) September 14, 2021
But 90% of marketers don't know about them.
Here are 10 marketing tools to help you master marketing:
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There are many strategies in market 📉and it's possible to get monthly 4% return consistently if you master 💪in one strategy .
One of those strategies which I like is Iron Fly✈️
Few important points on Iron fly stategy
This is fixed loss🔴 defined stategy ,so you are aware of your losses . You know your risk ⚠️and breakeven points to exit the positions.
Risk is defined , so at psychological🧠 level you are at peace🙋♀️
How to implement
1. Should be done on Tuesday or Wednesday for next week expiry after 1-2 pm
2. Take view of the market ,looking at daily chart
3. Then do weekly iron fly.
4. No need to hold this till expiry day .
5.Exit it one day before expiry or when you see more than 2% within the week.
5. High vix is preferred for iron fly
6. Can be executed with less capital of 3-5 lakhs .
https://t.co/MYDgWkjYo8 have R:2R so over all it should be good.
8. If you are able to get 6% return monthly ,it means close to 100% return on your capital per annum.
One of those strategies which I like is Iron Fly✈️
Few important points on Iron fly stategy
This is fixed loss🔴 defined stategy ,so you are aware of your losses . You know your risk ⚠️and breakeven points to exit the positions.
Risk is defined , so at psychological🧠 level you are at peace🙋♀️
How to implement
1. Should be done on Tuesday or Wednesday for next week expiry after 1-2 pm
2. Take view of the market ,looking at daily chart
3. Then do weekly iron fly.
4. No need to hold this till expiry day .
5.Exit it one day before expiry or when you see more than 2% within the week.
5. High vix is preferred for iron fly
6. Can be executed with less capital of 3-5 lakhs .
https://t.co/MYDgWkjYo8 have R:2R so over all it should be good.
8. If you are able to get 6% return monthly ,it means close to 100% return on your capital per annum.
