Be afraid of blogs, be very afraid...

[DHOHHI]

Quote from retaildaytrader:

All of the blogs are exactly what I am describing. They only serve to sucker you and help you fall prey to such psychological consequences like confirmation bias.

Anyone who has read the popular trading books knows about Livingston's adventure with Union Pacific and listening to other people's advice. They also know about his adventures in the cotton market where he made the same mistake again. Livingston would probably conclude that trading blog readers are suckers in the markets.

It is these blog reading suckers who is the real all-the-year-round support of the online brokers. He lasts about three and a half years average. He knows all the don'ts that ever fell from the oracular lips of the bloggers-excepting the principal one, which is: Don't be a sucker! [those are not my words, I modified them a little from the good book]


"* Are you currently a daytrader that's trading from a home office ?"

None of your business.

I dont trust you with even an ounce of my personal information.

My guess is you lost a bunch of $$$ by looking for quick profits following a blog in the past. After all, you're offering people here $$ if they can make 100% on your $$$. If you had any real knowledge of trading, the markets and an ability to filter useful from useless information you'd not be making such uninformed remarks.

You refer to "popular trading books" -- LOL!! On the one hand you chastise blogs but now you're referring to "popular" trading books as gospel apparently. What's the difference between a blog and a trading books? By your logic a trader shouldn't (wouldn't) write a trading book if he were profitable.

Last, your paranoia seems to be revisiting -- you replied to another poster about lack of trust with your "personal information". Do you actually think anyone can figure out who you are from an anonymous chat site? Further, do you think anyone would even want to given some of the illogical drivel you've posted?

 

[Mike Morrison]

Quote from retaildaytrader:

Who do you all think one this debate? Cast your votes.

If I vote for you do you promise to go out on top and never come back here again?

 

[retaildaytrader]

Dont debate me, debate Jesse Livermore. Read the story of Ed Harding and Union Pacific. You tell me now what do you learn from that story?





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[exaltedangel09]

To the OP; I agree with you 100%, 99% of people on this site likely lose money so they're all pissed off that you speak the truth.

MY BLOG is titled abcsofgas of gas, google it if you want..
as you can see I rarely post here, because im making money.

 

[newmarket]

Hi,

Bottom line is if the person who you are reading or is giving you a trading advice is actually trading what they are preaching.
From my own experience I have to tell you that most are probably not trading it with real money. They could tell you many reasons why not and it could look real good.
I give you an example of http://www.mindingmatter.com/.
I was one of the suckers of Martha Sipe. She does not trade her model or her work. It is all just nice BS. So even if you have someone with all well written out plan and stuff like that with 30 years of BS behind it, you still need to be protecting yourself. If they have no money management in their model then forget it. Also you need to actually see the record of what they have done over long period of time and even then be cautious. Marha Sipe blew a lot of peoples money. One has to be really careful of people's advice. I just want to trow this in.

 

[retaildaytrader]

The bottom line is that Jesse told you his story about listening to Ed Harding and losing a lot of coin. So there is something to take away from that story...

 

[unco]

Quote from Ghost of Cutten:


I will volunteer myself for this experiment, and quit ET and all market-related blogs, message boards, and news sites for the next month. I will then return and immerse myself fully, and see which works better. See you in August.

Hi Ghost of Cutten

What are your thoughts after this break?
Thanks

 

[automateddaytra]

Quote from exaltedangel09:

To the OP; I agree with you 100%, 99% of people on this site likely lose money so they're all pissed off that you speak the truth.

MY BLOG is titled abcsofgas of gas, google it if you want..
as you can see I rarely post here, because im making money.

you are likely a true trader

 

[Ghost of Cutten]

Quote from unco:

Hi Ghost of Cutten

What are your thoughts after this break?
Thanks

I didn't seem to suffer much from avoiding blogs and message boards. The only thing I missed was being able to get quick ideas e.g. let's say I am bearish on sector X, a quick way to get stock symbols and ideas is to scan blogs and message board topics via a google search. So I think they are still useful for that. However, I probably benefited more from having extra free time to do research, because I was not spending that time reading or posting on message boards or blogs.

I did find it too much of a handicap to avoid hard news sites like bloomberg, ft.com etc. So I went back to using those pretty quick. I just made sure to stick to factual items on issues that affected the markets, and avoided the ever more frequent BS opinion pieces, lifestyle bollocks, editorials etc. I really wish there was just one good "hard news" site for the markets, with ZERO bollocks, just market facts only.

So far I would say it was better use of time to "abstain", although hard financial news sites are necessary IMO. But I plan to try 1 month immersion again, just to make sure.