The Price of Indecision - The Hidden Cost Nobody Considers

by Andrea Unger

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Very often, when we evaluate the results of a certain activity, we forget to consider the costs related to the time we waited before deciding to start.

Unfortunately, in trading as in many other areas, procrastination can have a devastating effect on the results we get. Want to learn more about the 'cost of inaction' and its hidden effects?

Then don't miss this short video in which Andrea Unger tells his personal experience!

Transcription

Hi guys Andrea Unger here. The cost of procrastination.

Normally, when we evaluate the effectiveness of an activity, we take into consideration the costs and the costs might be the initial investment for this activity and infrastructure costs, and then obviously, the variable costs during the activity. And this is fine, obviously.

What we normally neglect, most of the time, are some hidden costs that actually do exist, and these costs are all the costs linked to inactivity, to procrastination: the fact that we didn't start immediately, right at the beginning, when we had the idea, when we had the will to do it.

So, why do we procrastinate?

This is due to a number of factors, but all the opportunities that we miss in that period of time when we do nothing, are there and are heavily affecting our final profit.

Let's Make An Example

An example might be when you want to book a vacation and you find some interesting offers, but you don't take the offers immediately. When you happen to come back a couple of days later, offers are still there, but no longer at the same level you found them a couple of days before. And obviously, the reduced discount on the vacation that you want to book, now is a cost.

What's The Lesson?

You still have an advantage, you still perceive advantage, so you feel you are getting something better than normal, but you also realize that you could have gotten it even better if you took action before.

What Does It Have To Do With Trading?

This is a stupid example, but there are also examples related to trading. And I admit I have examples for myself because I'm normally very lazy and just an actual example now, something which is presently more than true: cryptocurrencies. I have an account at Binance, my personal account and I opened it, but I waited for months before doing so.

I had everything ready to trade there, strategies developed and so on, but just because I was afraid of the bureaucracy to go through to open the account, just because I was too lazy to think about the wires I had to prepare to send the money there, I procrastinated for months.

And guess what? During those months, the strategies that I had built to trade cryptocurrencies would have made a lot of money.

That “lot of money” is not in my pocket because I lost it, I've never gained it. So it's as if I lost it.

And just because I waited too long. This is another hidden cost. I don't have a smaller balance due to losses, but I have a smaller balance due to lost profits.

My Personal Piece Of Advice

So guys, whenever you decide to go in a direction or you have the will to do so, don't wait because you, for sure, will make more profit if you start immediately instead of procrastinating, you will avoid all the hidden costs of inactivity.

So, in case you want to book a call with one of our tutors, do it now because now is the time to start and to start your journey towards your objectives.

That's it guys! I wait for you. Ciao from Andrea Unger.

 

Need More Help? Book Your FREE Strategy Session With Our Team Today!

We’ll help you map out a plan to fix the problems in your trading and get you to the next level. Answer a few questions on our application and then choose a time that works for you.

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Andrea Unger

Andrea Unger here and I help retail traders to improve their trading, scientifically. I went from being a cog in the machine in a multinational company to the only 4-Time World Trading Champion in a little more than 10 years.

I've been a professional trader since 2001 and in 2008 I became World Champion using just 4 automated trading systems. 

In 2015 I founded Unger Academy, where I teach my method of developing effecting trading strategies: a scientific, replicable and universal method, based on numbers and statistics, not hunches, which led me and my students to become Champions again and again.

Now I'm here to help you learn how to develop your own strategies, autonomously. This channel will help you improve your trading, know the markets better, and apply the scientific method to financial markets.

Becoming a trader is harder than you think, but if you have passion, will, and sufficient capital, you'll learn how to code and develop effective strategies, manage risk, and diversify a portfolio of trading systems to greatly improve your chances of becoming successful.