• Niels Strohkirch

Money as a Proxy




Money as a proxy is may something we would have expected, but that this proxy is may misguiding us in business life and personal life to cut losses when we would admit failure was striking me.


It is like in trading, where setting a "stop loss" is an absolute must if you do not want to wake up one morning having lost everything (and I mean everything in money terms!).


I know the feeling how much it hurts when this stop loss got executed (even when I just lost a relative small amount here. Nothing more than a night out with a friend and having a drink) by the market and I it tells me that my trade was wrong and I lost money.


The good news is, it is not public. If it would be, how much more likely would I be in pushing it further and further away, risking even more and money? Very much I guess! Our human nature is such.


Now as we know our weakness here, we can start to act into the right direction and direct ourselves. How? That is all up to oneself.


#stoploss #admitfailure #takeyourchances #bestrong #emotions #handleemotions #humannature #nielsunplugged #trading #money #loss #failure #danielkahneman


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