During World War II, the US military sought to reduce the number of casualties in bombings.
Take a look at the planes that are returning safely, which parts of the bombers' bodies were shot, then tell the engineers to make those points more resistant.
The team of engineers did the same, but the casualties did not diminish.
They hire a statistician named Abraham Wald to find the problem. Abraham Wald said that on the contrary, you should strengthen those places where the bullets did not hit. Because those planes that could not return to the base were the ones that were shot at the seemingly healthy parts of the return bodies.
This significantly reduced the casualties of the bombers.
This idea, which is the extreme focus on the damaged parts of things and successful people and the deliberate disregard for the deadly damage of people and failed things, is called "survival bias."
In trading, this survival bias in a dangerous way causes beginner traders to experience heavy losses.
Beginner traders focus on profits that lead to profits while tens and possibly hundreds of harmful trades that they fanatically ignore.
In PocketOption , you are given the opportunity to practice in Demo and Tournaments to minimize this cognitive error in you.
You need to focus as much as you can on your Demo Trades that lead to the loss of your own strategy.
In this way, you can identify and strengthen the really weak parts of your decision-making and minimize the possible losses in real trades and live.
***
