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Fast growth mindset missteps with Bill Moore

Understand what cognitive biases are, and how you can manage them when trading. Get professional insights from quant, trader and entrepreneur Bill Moore.

Reading time: 32 minutes

Trading level: Intermediate


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Introduction by Louise Bedford

It’s so easy to second guess yourself, even when you’ve been trading successfully. So many traders fall victim to some of the cognitive biases that can mess up their stellar trading results.

A cognitive bias is a mental shortcut that isn’t based on a rational thought process. Sometimes we have a subconscious need to shoot ourselves in the foot. Ever noticed that?

Well, it’s time to give you specific strategies to tame your emotions and keep them from impacting your performance when you’re performing well.

That’s why I’ve invited Bill Moore to discuss this fascinating area with me.

Bill Moore is a quant, a trader, a developer and an entrepreneur. He’s the founder of and he’s data-driven, and edge-focused. He’s also a keen player of games of strategy, such as poker, chess and backgammon. He approaches trading with the same strategic mind.

We’re going to talk about the cognitive biases you can experience when you’re flying high and growing at a remarkable rate as a trader. You’ll learn how to keep your grip on reality, and some of the warning signs to look out for. Plus we’ll even give you a ‘try this at home’ tip, so you can implement what you’re about to learn.

Welcome Bill…


How can confident traders stop themselves from becoming arrogant after they’ve made some big wins in the markets?

The markets provide very inconsistent feedback. What does that do to a trader and their behaviour?

What are the top cognitive biases traders who are successful in the markets experience?

It’s so easy to get caught up in your own ego when you’ve made some short term wins. How do you divorce yourself from the noise of short term performance metrics and look at the big picture? 

How do you cope with the droughts, when the harvest can be a long time in coming?

Beginner traders who have early success in their first few trades may think that trading is ‘easy’. What would be your advice to them?

Why do you think that so many beginner traders think that they’re experts? I wonder whether it’s because they’ve watched the movie – ‘Wall Street’, or seen the TV series ‘Billions’. Just because you’ve sat in a plane, doesn’t mean you know how to pilot it. I’d like to hear your thoughts about this.

Is there any research on this topic in relation to traders? 

Do you have a ‘try this at home’ tip?

This information has been prepared by IG, a trading name of IG Australia Pty Ltd. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

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