The Crowd Told You to Trade Forex

[Walander]

[Walander]

So many people have come into my thread dictating the way I should trade, and somehow define my cognitive ability to further my own knowledge properly- it’s laughable. I’ve even had people say that they have million dollar accounts- this person was quite obviously proven wrong. It makes me ponder again, why would such a person need to present such a lofty statement? It’s quite obvious that it’s not because they are one of the established few who do well in trading.

So many people argue on this forum, but don’t even dispense proper information- myself included on some of my fundamental analysis as it’s not my strong point.

A wonderful quote was Igor establishing my own analogy of the market, and defining it as not only a rip off of his “own” work on this forum, but compared it to “The Random Walk Theory”

“I would describe Forex more like a drunkard walking home from the bar.

He knows where he's going, he understand what he needs to do, but on the way he might hit a couple walls and trash cans, but nonetheless he still arrives home” - Walander

“In other topics you even repeat me on the random walk theory witch was in contradiction against your own opinion.”- Private Message from Igor

“That analogy is an official one and is called the "random walk theory". random walk theory explained” – Igor

“In short, this is the idea that stocks take a random and unpredictable path. A follower of the random walk theory believes it's impossible to outperform the market without assuming additional risk.”

Guess what, a Senior of this forum, some of which many people respect, and or detest completely misinterpreted my analogy, nonetheless relied on a publicly editable information to be reliable. Wikipedia is a source for quick information, not reliable information.

So who do you trust in this forum? You trust people who you yourself can define within certain limitations as being reliable. People who prove to you, on your own standards, standards that are created with your own objective reasoning to be suffice to be labeled as reliable. Do not rely on other people’s opinion, they can be weighted, but should not be weighted significantly towards your valuation.

More and more, we see people continually becoming lazier and lazier. Some people don’t even notice some of their widely used indicators are sometimes completely calculated wrong (A thank you to Mladen is needed as he never likes to produce inaccurate garbage). People continue to move away from independent to becoming dependent. The only person who presses the trade button is you, so make sure you do it right.

PS.

I bothered writing this thread because of the first paragraph, and also I thought, after realizing this myself, that it would be worthwhile to write something beyond the general psychology of what is marketed to traders today and to even break out of my own limitations that I set for myself (not to make another thread).

[MrMarketz]

Peace duke

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