If you develop faith in a stock, a token, a meme, or a brand, you are not far from losing money.


The essence of faith is: stopping the update of Bayesian probability. When new information emerges, people with faith selectively ignore counter-evidence and only accept confirmation bias.
"I believe in this thing" = "I no longer objectively assess its risk-reward ratio" = "I have removed the stop-loss from my trading plan."
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