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The real trading secrets - why trading forums suck - A word of advice - Article 46 - Eminimethods.com
The answer to this question is quite simple, but let me answer it by posing yet another question. (And why not? But that's not yet the question I meant to pose ...)
Here is the question I meant to pose: do you expect an accomplished trader to hang out on a trading forum? Why would he? He has nothing or not much to learn from it and is likely to be mightily annoyed by the silly posturing of losers desperately trying to impress their peers. Meaning, other losers.
Traders trade and when they are done with it they just enjoy their lives or sometimes help aspiring traders. Losers, on the other hand, spend their time on trading forums looking for a sympathetic crowd to feel better about themselves.
And that indeed is a major problem with trading forums: the people they attract are not the ones you are likely to learn much from, but largely newbies desperate to learn and "accomplished" losers desperate to "teach" them.
That's a pretty "explosive mixture" that can only produce more losers, which obviously is what most forum owners truly want for with the growing ranks of losers, especially those homegrown and so more loyal to the forum, this can mean only one thing and a good one too: even more business, more advertisers clamoring for advertising spots impressed by the number of forum members. And the dumber the members are, the easier it is to sell them something. That's a recipe for a perfect business destined to grow by bounds and leaps. I have known this for years. If only I could stand losers and fools better, I would have been very rich by now.
Yes, that's the problem with trading forums: the people who hang out on them. Since this crowd is unlikely to include truly accomplished traders, those you will end up learning from will probably do more damage to your trading career than the damage you would have done to it yourself. You will simply compound your bad habits with theirs and thus end up spending more time on unlearning them all.
The crowd in question consists of two types of losers: too lazy or too stupid to ever get what trading is about and a more sophisticated, ego-driven type that may even be able to master a few basic things about trading, but lacks mental introspection and fortitude to become really good at it. The latter kind is the one that really drives the forums. Have you ever noticed those overachievers with thousands of posts to their names? Yes, that's the kind we are talking about here, the "noisy" type. You might have even been impressed by some of them for a while until you finally figured out that they have precious little to share about trading. In fact, it's quite likely they are such sore losers that they have to compensate for it by desperately trying to impress others with their trading "acumen" and "insight." And desperate they really are producing a never ending stream of posts, often of questionable quality, but it's the amount that matters as most forums only display the number of posts but fail to measure their quality in any meaningful way.
Well, there might be some who don't fit this sore profile, but that's a rare phenomenon, in my opinion. It's rare and bound to become rarer in time for when the fellow like that reaches a certain high number of posts (usually 1000), he is likely to develop an unshaken belief that he has become a trading expert, perhaps even a guru of sorts, and that everything he will post from now on will be greeted with acclaim by the growing ranks of his feeble-minded followers that can only be getting more and more feeble-minded as a result of that.
And there is one more, equally or perhaps even more dangerous, thing that the "noisy" loser introduces to a trading forum once he has reached the "expert" status. In his own or his gullible followers mind, that is. Once this happens, the expert often starts acting as if he owned the forum, a clear sign of an entitlement problem, not so uncommon among this type. One manifestation of it is lecturing new non-conforming members on how they should think or act.
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