Frank Solli

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When behavioral psychologists have compared the relative addictiveness of various reinforcement schedules, they found that intermittent reinforcement—positive and negative dispensed randomly (for example, the rat doesn’t know whether it will get pleasure or pain when it hits the bar)—is the most addictive alternative of all, more addictive than positive reinforcement only. Intermittent reinforcement describes the experience of the compulsive gambler as well as the futures trader. The difference is that, just perhaps, the trader can make money. However, as with most of the “affective” aspects ...more
The New Market Wizards: Conversations with America's Top Traders
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