Forum peer pressure
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Thread: Forum peer pressure

  1. #1
    Everybody is long on this pair on the forum. They must know what they're discussing.

    I will go long also!

    Now why is my account at adverse 500 pips?

    Don't call the waaaaaambulance, you just got sucked right into the.

  2. #2
    Perhaps that could be used to benefit, like the lot index.
    If everybody here is saying long- go short.

  3. #3
    Quote Originally Posted by ;
    Perhaps that could be utilized to advantage, such as the odd lot index.
    If everybody here is saying long- move short.
    It's an idea but it's not incorrect enough to do this.

    If you did this, the account would either be slightly in the green, slightly from the red or square.

    We'd need more bad calls.

    I believe everybody succumbs to forum peer pressure at some point or another. It's to be averted.

  4. #4
    In any instance you are trading on somebody else's motives. You won't have the confidence or the knowledge of when to depart it, until you have your own reasons.

    Unless somebody obviously explains why they got in, and the way they're planning to exit, and their kind of management mid-trade, what's the point?

  5. #5
    Quote Originally Posted by ;
    In either case you're trading on somebody else's motives. Until you have your own reasons you won't have the confidence or the knowledge of when to abandon it.

    Unless somebody clearly explains why they got in, and the way they're planning to exit, and their style of management mid-trade, what's the point?
    I could not agree more. There's no purpose. None, zip, zilch.

    So why is it happening?

  6. #6
    Quote Originally Posted by ;
    I could not agree more. There is no point. None, zip, zilch, nada.

    Why is it occurring?
    1. People with no idea of the direction, coming to forum to look for an answer, either from one or more plausible sources for them, or by statistical assessment (how many say long, how many short).

    2. People who already have a plan and have analyzed the market thus be aware about the direction, come and examine a different (from credible source) contrarian opinion which introduces doubt and reassessment of the own analysis thus messing with the original impulse, ending in doing all the contrary which was initially planned.

  7. #7
    Quote Originally Posted by ;
    1. People having no idea of the way coming to forum to start looking for an answer, either from a couple of credible sources for them, or by statistical evaluation (how many convey long, just how many short).

    2. Individuals who already have a strategy and have examined the market thus be aware about the direction, come and read another (from credible source) contrarian opinion which introduces doubt and reassessment of their analysis consequently messing with all the initial impulse, end in doing all of the contrary which has been initially intended.
    Individuals come to the forum for a response from a plausible source. The definition of credible varies from one to another. He who is that a zero is a hero to somebody else.

    Thus a person relying on the credible sources base this on one of 2 things. Frequently, a newcomer will base that opinion on the amount of vouches of the sources or the amount of articles.

    The issue with that is that a call is either good or bad. There in this game.

    I see it as good or bad. Black or white. The odds are 50%-50%.

    Someone being here for 10 years with a billion articles and a million vouches is equally as likely to generate a bad call as somebody who just walked through the door.

  8. #8
    I feel like I got suckered into responding to a few of these posters asking for what exactly do I perform!? ...

    Does that count?

  9. #9
    Quote Originally Posted by ;
    I really feel like I got suckered into responding to a few of these posters asking for what do I do!? ...

    Does that count?
    Nope.

    It is the poster asking what do I do? and following through with it. Or worse yet, the one who did not ask but get fearful and reverses his position because his commerce is against what everybody's saying. . .and he ends up with pips.

  10. #10
    Quote Originally Posted by ;
    I couldn't agree more. There's no purpose. None, zip, zilch.

    So why is it happening?
    Another thing which could start up is a moderate form of proposal. Members of a ribbon can reinforce one another's forecasts, and get more and more convinced it's going a certain way. Then they can begin ignoring evidence to the contrary to the point where they only see what they want to see.

    Others coming in and reading their articles might be swayed by the sheer amounts leaning in that way. They might hesitate to place it if they leaned the other way. Or they might be determined to change their very own. This appears to be the peer pressure component. Not wanting to be seen as the only wolf with an strange idea; or not getting the certainty to keep your ideas when everybody appears to be leaning the other way.

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