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Anchoring
In one line: Getting stuck on the first number you saw.
Evidence
Tversky and Kahneman (1974): people adjust too little from an initial value when estimating numbers.
Tversky and Kahneman (1974): people adjust too little from an initial value when estimating numbers.
More videos on this (1)
- 12 Psychology Theories That Explain Why Traders Keep Making the Same Mistakes · Stick Trader · external
In trading: 'it was 100 last week, so 80A small part of causes gives most of the results. is cheap'. The old price is an anchor, not a fair value.
Further viewing
External videos are for viewing only: we don't use them as a factual source.
External video, for viewing only12 Psychology Theories That Explain Why Traders Keep Making the Same Mistakes
Stick Trader · open on YouTube
Stick Trader · open on YouTube
Related
Sources & studies
Last checked: 2026-11-04 · Educational, not financial advice.
Education only, not financial advice. No signals. Backtests are hypothetical: real trading can be worse. Past results don't predict future results.