Overconfidence bias: Chambers says that many times individuals have the tendency to overestimate their own ability and talent. People believe that the decisions they take will be better than they actually are. Loss Aversion bias: Chambers defined loss aversion as the tendency of individuals to seek pride and avoid regret in the decisions they take. When our stocks go up, we are more likely to sell it because we're making profits. But when our stocks go down, selling it means we are accepting the fact that we made a mistake which resulted in a loss