There are certain blogs and boards out there which are heavily moderated. Most often you see the authors of those blogs delete and ban anyone who has a contrary opinion to theirs. Therefore, it appears like everything is ok and everyone seems to be happy...but wait these boards are not about my opinion on a cup of Starbucks coffee where if I am wrong about the taste of the coffee nothing will matter...these boards are about trading the markets where tens of thousands of dollars can be lost at the push of a button.
Heavy moderation usually leads to two critical errors:
Group Think-
http://en.wikipedia.org/wiki/Groupthink
"Groupthink is a type of thought exhibited by group members who try to minimize conflict and reach consensus without critically testing, analyzing, and evaluating ideas. Individual creativity, uniqueness, and independent thinking are lost in the pursuit of group cohesiveness, as are the advantages of reasonable balance in choice and thought that might normally be obtained by making decisions as a group.[1] During groupthink, members of the group avoid promoting viewpoints outside the comfort zone of consensus thinking. A variety of motives for this may exist such as a desire to avoid being seen as foolish, or a desire to avoid embarrassing or angering other members of the group. Groupthink may cause groups to make hasty, irrational decisions, where individual doubts are set aside, for fear of upsetting the groupâs balance. The term is frequently used pejoratively, with hindsight."
Confirmation Bias-
http://en.wikipedia.org/wiki/Confirmation_bias
"Confirmation bias (or myside bias[1]) is a tendency for people to prefer information that confirms their preconceptions or hypotheses, independently of whether they are true.[2][3] People can reinforce their existing attitudes by selectively collecting new evidence, by interpreting evidence in a biased way or by selectively recalling information from memory.[4] Some psychologists use "confirmation bias" for any of these three cognitive biases, while others restrict the term to selective collection of evidence, using assimilation bias for biased interpretation.[5][2]"
Remember, the best traders in the world are not going to be highly charasmatic popular guys. They are guys that sit by monitors from day to day. Their job is not to interact with people, but to trade what they see. They might sound rude, but thats only how they sound. They are not selling anything so they will not kiss your ass.
Listen to all viewpoints no matter how stinging they might sound. If someone attacks your character, then think of it as a test. Eventually the market will attack your character and what are you going to do? Write a letter to Baron how the market should be banned?
This is the real world and you need to learn how to negotiate it. Banning, deleting and censoring only leads to confirmation bias and group think. I would rather be called an asshole to my face and then given some sensible trading advice then to be given some bad trading advice and then afterwords be told nice things.
I will take good trading advice anyday...I really dont care about charasmatic good sounding words. Sweet thoughts come when the green builds in my account...I dont get offended easily...I do get offended when I see red on the screen though...
Heavy moderation usually leads to two critical errors:
Group Think-
http://en.wikipedia.org/wiki/Groupthink
"Groupthink is a type of thought exhibited by group members who try to minimize conflict and reach consensus without critically testing, analyzing, and evaluating ideas. Individual creativity, uniqueness, and independent thinking are lost in the pursuit of group cohesiveness, as are the advantages of reasonable balance in choice and thought that might normally be obtained by making decisions as a group.[1] During groupthink, members of the group avoid promoting viewpoints outside the comfort zone of consensus thinking. A variety of motives for this may exist such as a desire to avoid being seen as foolish, or a desire to avoid embarrassing or angering other members of the group. Groupthink may cause groups to make hasty, irrational decisions, where individual doubts are set aside, for fear of upsetting the groupâs balance. The term is frequently used pejoratively, with hindsight."
Confirmation Bias-
http://en.wikipedia.org/wiki/Confirmation_bias
"Confirmation bias (or myside bias[1]) is a tendency for people to prefer information that confirms their preconceptions or hypotheses, independently of whether they are true.[2][3] People can reinforce their existing attitudes by selectively collecting new evidence, by interpreting evidence in a biased way or by selectively recalling information from memory.[4] Some psychologists use "confirmation bias" for any of these three cognitive biases, while others restrict the term to selective collection of evidence, using assimilation bias for biased interpretation.[5][2]"
Remember, the best traders in the world are not going to be highly charasmatic popular guys. They are guys that sit by monitors from day to day. Their job is not to interact with people, but to trade what they see. They might sound rude, but thats only how they sound. They are not selling anything so they will not kiss your ass.
Listen to all viewpoints no matter how stinging they might sound. If someone attacks your character, then think of it as a test. Eventually the market will attack your character and what are you going to do? Write a letter to Baron how the market should be banned?
This is the real world and you need to learn how to negotiate it. Banning, deleting and censoring only leads to confirmation bias and group think. I would rather be called an asshole to my face and then given some sensible trading advice then to be given some bad trading advice and then afterwords be told nice things.
I will take good trading advice anyday...I really dont care about charasmatic good sounding words. Sweet thoughts come when the green builds in my account...I dont get offended easily...I do get offended when I see red on the screen though...
