I wonder if traders will be better at this considering many of the split-second decision-making that we undertake to choose between decisions that have equally bad consequences while under tremendous pressure is what we traders do every day. *spoiler alert* It first started as a study to see how self-driving cars should do when faced with two scenarios with two equally disastrous results but it eventually becomes an experiment on human behaviour and at the end it still does not touch on how and what decisions would self-driving cars make in these scenarios.
Take the small loss instead of the big one. Maybe. But the most risk minimising option for the test subject personally in that video is to do nothing. So a trader might take that option instead. If you do nothing you get to walk away, its not your job or responsibility. Do something and you might become the focus of the investigation into what the hell happened, and risk getting the blame for killing the person on the other track.
Years ago I read somewhere that our job as traders is to act. And doing nothing is an action. I used to have that written down and in front of me at all times. Now it's just ingrained in my head.
Trading is EASY. It is hard because you are overcomplicating things. Go back to the basics, stick to the fundamentals, and trading will give you better profits.
Trading is EASY when things are going well (winning periods) Hard when things are going badly (losing periods) This is like a lot of things in life. However in other areas of your life you can take some sort of action, change strategy or work harder, or phone a friend etc That is rarely possible in trading. You cant force the market to give you money, you just have to wait the losing period out and not lose your discipline. That is easier said than done.