Malcolm Gladwell, the author behind Blink argues that you can make great decisions based on thin slices of data. He argues that our subconscious mind is a supercomputer that process answers we need using just thin slices of information.
In the age of information overload, all that extra detail might actually be hampering good decision-making when you get funding for traders. Gladwell’s argument is based on these principles:
• Quick decisions are as good as cautious decisions
• Your gut can tell you when to trust and when to be wary
• Snap judgements can be controlled and educated
How to Use the Subconscious to Make Snap Decisions
Gladwell says that he found ways to use thin slices of data to make good choices based on gut instinct. Here is how to do it.
• Give in to Your Subconscious
The brain is quite powerful. It is generally agreed that it comprises of the conscious, subconscious, and unconscious. Gladwell says that we have an adaptive unconscious. It is a supercomputer part of the brain, which can process details fast. In fact, it is always on. For instance, he gives the idea of a bus coming at you. No one stops to think, you just move. With practice, you can avert huge loses when you receive funding for traders without much thought.
• Mind Reading
Paul Ekman and Silvan Tomkins are considered the pioneers of mind reading. Tomkins had the ability to look at a face and see facts other people could not. He was so good that he could tell if someone was lying or what he or she did based on his or her wanted poster. When they came together, the two came up with 43 facial movements by staring at each other for hours. Eventually, they settled on 300 facial movements. This proves that with the thinnest slices of data, you can make correct decisions about someone. In short, when you become a trader, you can make good choices based on a few micro movements.
• Contact Your Unconscious
A good example is Dr. Gottman at the University of Washington. By watching a couple talking for an hour, he can tell with 95% accuracy if they will be married in 15 years. When that is reduced to 15 minutes, he can still tell with 90% accuracy. Interestingly he only looks at 4 things: defensives, criticism, contempt, and stonewalling. You can apply this thin slicing technique when you become a trader to grow.
• Understand Your Bias
Harvard University researchers have come up with the Implicit Association Test. They say that with a simple two-word association, you can determine which biases someone has. These biases are things you pick up along the way. Once you get funded account, it is equally important to know the biases you have and avoid them.
It is quite clear that we would all trade better if we studied more on our unconscious. When you get funded account, always try to listen to your unconscious. Many people use various techniques and once you get forex trading account, you might wish to try thin slicing. It is especially so if you trade alone when you get forex trading account and you are not too good at sifting through piles of data.