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The large number of trading opportunities on LTF leads to a large number of decisions. When a trader encounters information on a chart that he understands, his thinking rushes to realizing the reward as quickly as possible. This is due to the phenomenon of hyperbolic discounting, which states that people prefer a smaller reward in the here and now rather than a larger reward delayed in time. A quick reward is easier to observe and experience, so it has a higher subjective value. A market order in trading is a mechanism for bringing a reward closer in time, be it premature profit taking or impulsive opening of a position. Market orders promote impulsiveness and gambling. If you only had limit orders in your toolkit, you would approach opening and closing positions more carefully and rationally, since these orders offer a more delayed reward. #psycho #Education #academy #sscrooge #trading
The large number of trading opportunities on LTF leads to a large number of decisions. When a trader encounters information on a chart that he understands, his thinking rushes to realizing the reward as quickly as possible. This is due to the phenomenon of hyperbolic discounting, which states that people prefer a smaller reward in the here and now rather than a larger reward delayed in time. A quick reward is easier to observe and experience, so it has a higher subjective value.

A market order in trading is a mechanism for bringing a reward closer in time, be it premature profit taking or impulsive opening of a position.

Market orders promote impulsiveness and gambling. If you only had limit orders in your toolkit, you would approach opening and closing positions more carefully and rationally, since these orders offer a more delayed reward.

#psycho #Education #academy #sscrooge #trading
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