Cognitive Biases in Trading Cognitive dissonance, confirmation bias, and other biases can harm trading careers. These biases include: 1. Cognitive dissonance: Conflict between actions and beliefs. 2. Confirmation bias: Ignoring contradictory information. 3. Illusory superiority: Overestimating one's abilities. 4. Dunning-Kruger effect: Underestimating complexity. 5. Heuristic thought: Creating patterns without evidence. Consequences: 1. Unwillingness to accept mistakes. 2. Justifying losses. 3. Becoming a troll. 4. Failing to adopt a scientific approach. Overcoming Biases: 1. Acknowledge errors and limitations. 2. Apply a scientific approach. 3. Focus on money management. 4. Conduct thorough backtesting. 5. Rely on actual results. Key Takeaways: 1. Recognize cognitive biases. 2. Avoid emotional decision-making. 3. Embrace objectivity. 4. Continuously learn and improve. 5. Prioritize sound trading practices. The author emphasizes the importance of self-awareness, objectivity, and a scientific approach to overcome cognitive biases and achieve success in trading.