Video review of "The New Discipline of Behavioral Finance"

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Rating: 4/5

The New Discipline of Behavioral Finance Provides Fresh Insights for System Building and Technical Analysis….

Successful market technicians have long recognized the psychological and sociological components of market behavior and that traders’ actions are influenced by their emotions and by cognitive errors. Up until very recently, the majority of the financial world scoffed at the idea of incorporating human frailties into financial analysis, but now a whole new field of study has arisen — behavioral finance — that believes these human flaws are consistent, measurable, and predictable. Hank describes the general paradigm shift that is occurring in the world of finance and shows how technical market analysis can systematically utilize the human motivation that lies beneath all the numbers.

In this presentation, Hank outlines the evolution of behavioral science and shows its close parallels with technical analysis, specifically in the study of herd instinct and mass psychology. Behavioral scientists examine finance from a different orientation than most technicians. Behavioral science is a theoretical discipline that attempts to draw generalities about behavior rather than make specific predictions about an individual’s actions. Hank shows you how these new perceptions can add to your own understanding of the markets. Building upon the concepts of mass behavior, Hank also explains why successful analysis examines and quantifies the parameters of price, time, and volume into a complete and comprehensive system.

After demonstrating the mass behavior framework, Hank takes you through the steps for developing and testing your own technical trading systems. He explains how the different types of market data interact, why each type of market data should be analyzed in depth, and how to select indicators that add up to more meaning. Hank teaches a new, effective and realistic conceptual framework from within which you can develop your own profitable and satisfying trading system.

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