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Thread: Forum peer pressure

  1. #21
    Quote Originally Posted by ;
    It's an idea but it's not incorrect enough to do that.

    If one did this, the account would either be marginally in the green, marginally in the red or just square.

    We would need more awful calls.

    I think everybody succumbs to forum peer pressure at one point or another. It's to be averted.
    I had been joking, but only half joking about contrarian trading.
    It works with stocks.
    Among the best fundamental systems I have seen, with stocks, is utilizing the strange lot index.
    You know what it is, but for all those who don't- it is a report of buys vs. sells of traders that trade less than 100 stocks.
    These are the small guys. Proceed against them and you're going to earn money.

    I have not seen any signs that a similar strategy works in forex.
    For one thing, this type of information isn't available, as there is no centralized exchange.

  2. #22
    Quote Originally Posted by ;
    Why do ppl fall to forum peer pressure? As it is an out. It is an outside to the self-doubt, it is an outside to the duty, it is an outside to the process of self-realization and re-programming that we all have to go thru.

    It leads us to group think, and group think is a powerful evolutionary reaction. Exactly the same as self-doubt when a position is against you.

    Think of it, most of the time when a individual has left their group they've gotten eaten by a bear or a tiger or something. It has only been the past thousand years or so...
    I believe you're probably right regarding the evolutionary connections to group believe and peer pressure. It is pervasive through society, and forums are just 1 example. As traders, we may need to deal with peer pressure from friends and family who doubt that we're doing the right thing. We also need to manage apparently crazy swings in market sentiment (which is a form of group think). It can be a daily challenge ...

  3. #23
    Going to hit 4.200 then retrace to 4.130 then up to 4.510

    Certainty in statements is directly proportional to degree of delusion. I am finding it easier and easier to dismiss any posts that contain price predictions for your future...

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