crypto News Gambling, “authorities” and herds: what psychological traps await traders

Gambling, “authorities” and herds: what psychological traps await traders

Gambling, “authorities” and herds: what psychological traps await traders

In the last century, psychologists formulated the principle of social evidence when people copy their own behavior – he contributes to the survival of the individual and at the same time makes us do strange and often illogical actions. This and other psychological mechanisms form the basis of the personality, and they can play a cruel joke with the trader.

Forklog figured out how not to get into one of the psychological traps, to recognize destructive behavior and protect oneself from rash acts.

From losses to suicide

In 1974, the American sociologist from the University of California at San David Phillips withdrawn a pattern: after the widespread coverage of the media in the media of some suicide, the number of suicides in the newspaper distribution grows 10 times.

This is a consequence of the work of the principle of social evidence, writes in his book “Psychology of influence” an American psychologist and professor at the University of Arizona Robert Chaldini. A person, faced with an unusual situation, looks at others and copies the behavior of equal to him through social status.

Such following a common trend helps to escape from danger, but forces some to do extremely unreasonable deeds. This principle and a number of others can lead people working on the cryptornka, at least to serious losses, and as a maximum – to a strong disorder of the psyche and depression.

Like everyone and me

There are many examples of blind follow by one person behind the crowd. A herd feeling helped earlier and helps to survive in difficult situations now. The mechanism of its occurrence is described in detail.

In any emergency or simply unusual situation, instinct commands a person to freeze and look at the action of other individuals in the pack. And then – copy the behavior as much as possible like people.

The problem is that sometimes an accidental combination of circumstances is accepted for an emergency: two cars at the same time drove off their strip, and now the following drivers imagined that an accident was waiting for them ahead. As a result, the entire stream turns into one lane, going around a non -existent obstacle, gives an example of Chaldini in his book. And all because our unconscious reminded – most are not mistaken.

Most often, a person is following this psychological mechanism, if two factors are acting at the same time: uncertainty and external resemblance to those whom he copies. Both are often found among traders.

An experienced player should have a long -term action plan and the risks are carefully calculated. The problem is that the trader can abandon it by falling into a trap of social evidence.

“Many suddenly begin to buy or sell, and the price of the asset changes. The trap is that this person ceases to follow his plan, which is based on a cold calculation and fundamental analysis, and follow the majority into a conditional abyss, ”said Cryptotraider, who wished to maintain anonymity.

Uncertainty can be tried to eliminate by studying the issue in detail and drawing up a plan. It is necessary to show vigilance and often ask yourself – are all these people who go to the unknown way, and whether it is worth copying their behavior.

“Do not think – with us the one who decides everything for us”

Another psyche trap is somewhat similar to the principle described above. It can be described as a blind faith to authorities, and it, as well as social proof, is installed by default in the “operating system” of each person, and our appearance helped out many times.

Numerous experiments have proved that most people are affected by authorities. Perhaps the most famous was conducted more than half a century ago by a psychologist from Yale University Stanley Milgram.

Its essence is as follows: people were divided into two groups – “teachers” and “students”. Participants said that they would investigate the effect of pain on the ability to remember.

“Teacher” settled in a room separated from the “student” with glass. With each mistake of the latter, the “teacher” – a quite ordinary person – had to press the button and send the discharge of current to the body of his partner.

At first these were painless blows, but with each mistake the voltage increased by 15 volts. Upon reaching the threshold of about 150 volts, the “student” began to pray for mercy and ask him to let him go. But a man in a laboratory robe behind the “teacher” said over and over again: “Please continue”. And he continued, bringing the voltage to unbearable 450 volts.

In the experiment of Milgram, the “students” actually did not suffer – their role was played by actors who portrayed torment. Moral suffering was experienced by “teachers” who also asked to stop the experiment. But the “scientist” behind him every time asked to continue.

No one would stop the experimental person who could well say – “I am not participating in this” – and leave the room. But few did so. Most of respectable citizens continued to torture their partners.

It is very difficult to go against the desire to follow the leader – even if imaginary. According to Chaldini, the consciousness of the need to obey authorities deeply rooted in people. Moreover, we often do not realize that they can be imaginary.

It is quite simple to create an image of a “market gurus”-there is enough title for this (it can be invented), attributes (posted in the Telegram channel photo of a person with all signs of wealth-a watch, a car, a villa), and a presentable look (clothes, hairstyle, etc.D.). Even experienced traders can go about such a person.

“I had the opportunity to buy 18 BTC, spending about $ 21,000 on it. It was a pre -developed plan. But then I called a man whose experience was sure, and he told me (it was before the hard fork, and it was not clear how he would affect the cryptocurrency): “Yes, who needs this bitcoin”. I listened to his opinion. Over time, through errors, I came to understanding – you do not need to pay attention to short -term and local news and listen to other people’s opinion. It is always better to act according to your plan, ”said Cryptorer.

An example of following authorities can also be considered the story with Dogecoin. The Critical Meme has gained weight due to the support of two leaders-Vitalik Buterina and Ilon Mask. Many lost this, because they began to buy a coin only because of their words, and, of course, when she was at the peak of value.

In the stock market, traders are pursuing the same problems.

“The peculiarity of human thinking is that it very poorly understands the likelihood. And all causal ties in the stock market are precisely likely, ”said Igor Galaktionov, expert on the BCS World Investment Stock Market,-this gives rise to many different cognitive distortions when, in the absence of an understanding of external causal relations, the brain creates an abstract interconnection between internal and external “.

According to the expert, internal guidelines can take a different look. For example, this may be a binding to the price levels or the opinion of most community participants.

Professor Chaldini believes that in a collision with an authoritative opinion, it is worthwhile to ask yourself more often: “Is this person really competent in this area?””.

“We need to study more information from the past, and see what the people you consider to be authorities said. Compare whether this was true at that time, or they were mistaken. And not follow 100% of the opinion of one person, no matter what a guru he presented himself. It is better to rely on different sources when choosing a road, ”said Cryptotraider.

It will also not be superfluous to find out how true the source is in a particular case, Chaldini believes. After all, authorities, even in the best way informed, can deliberately distort the information provided.

Gambling and emotional burnout

They began to talk about the pathological tendency to gambling about half a century ago due to the distribution of slot machines. Psychologists have come up with a special term for her – Ludomania.

With the development of the Internet, casinos moved online – sport bets, totalizers and financial pyramids appeared. It is clear that in the midst of more or less educated youth playing in a virtual casino is not prestigious. But the trader, who will drop in passing: “I bought such and such a coin with my shoulder yesterday, earned so many thousand dollars,” looks much more solid in the eyes of others.

Not only do the traders go along the same paths and “merge” the deposit, they also receive a set of psychological problems, which then get rid of years.

A novice player sits on strong emotions, which are similar to love for a girl, the trader with the nickname Kent reason. And this can end with a defeat, the experiences from which will be the same as from the departure of your beloved.

“A very common situation when they bought cheaply, and cannot close their position, they do not see the point in this, but in fact greed owns them. Everyone wants to make the perfect game, buy at a minimum, sell to the maximum. But it is extremely rare to play the perfect game, ”Trader told about the typical behavior of newcomers.

Strong emotions that traders own, caused by stress, says MCC ICF business psychologist (Executive & Business) Andrey Evdokimov. And a positive and negative result brings many experiences, and this “plants” the person who does not know how to control his feelings of a person on a drug drug. Next, the fall in the spiral may begin, which psychologists describe in four stages.

The first is emotional burnout, when a person becomes indifferent to everything that happens outside the trade terminal. This is the very beginning of the crisis: the trader feels exhausted, belittles personal achievements, rests little.

In the second stage, the symptoms exacerbate, and the trader is very difficult to emerge from his game.

In the third stage, a clearly expressed discontent appears by environment and oneself, chronic anger and irritation, the feeling that they “drove into a corner”. At the fourth stage, a person goes into depression, and at the fifth falls to the very bottom – they are owned by feelings of deep disappointment and despair. In the end, everything can end with suicide or a serious mental disorder.

Ludomania, like depression, is not the little things that you can brush off, but a serious pathology, and you have to work with it for a long time. So, in Switzerland, the trader’s psychological rehabilitation rate costs more than $ 95,000.

Evdokimov recalls that he worked with a trader who in three years brought the situation to the third stage. Rehabilitation required six months. I had to work with a cold and indifferent person, a kind of Darth Vader, says a business psychologist. However, the client had a desire to get out of this state, which became the foundation of successful therapy.

“At first we were looking for an answer to the question of why he will accumulate monetary resources. And how to show freedom and independence in a creative way. In the end, we came to the question “What can I create for society and for myself,” says the process of Evdokimov. -A man began to think about investing in businesses that benefit the world (eco-packing), began to help charitable projects, and got rid of this from dependence ”.

But it’s good that a person wanted to rectify the situation. Most often, such a need does not arise.

“How to wean a person from greed? At this moment, a person is inadequate and does not listen to anyone, ”Kent said.

He advised beginner traders to try to abstract from the game in the market, considering this process from the side. In his opinion, we must treat assets as some tricks, and not as money. And buy only for free funds that are ready to lose.

It is best to recognize the disease at an early stage – in this case, you can cope with it yourself.

“If you want to play on the market more and more often, and my whole life narrows to the size of the screen, it is important to admit to yourself that“ I am a gamer, ”said Evdokimov. – If we talk about the treatment methodology, then you have to change the worldview, and realize how destructive this dependence. Find her reason. Almost always this is dissatisfaction from life “.

According to him, after recognizing the problem, it is better to tell loved ones about her, ask for help and support. It is worth finding a safe lesson that will be distracted. You can change the social environment, try to communicate more, be in nature, practice meditation, play sports.

Participation in charity, creative activity, training in something new helps a lot. But even in the early stages, the process of getting rid of dependence can take a lot of time and require professional assistance.

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