"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Tuesday, February 7, 2012

Don't Listen to Analysts!

Trading for more than 2 years now, repeatedly tell myself (even reminded by Bottle) that we should trade based on what we see and analyzed, not on analysts' rumors. Sick that after all these while I'm still committing such a disciplinary mistake.

Yesterday's trade (US session) I only took a slight look at the chart. And then I followed an analysts' mere comment and traded that. WHAMP! Stop/loss-ed. If you make a trade on your own and loss, it doesn't feel that bad (theory was also thought in a book I read: Reminiscence of a Stock Operator).

Another reason why we should not rely too much on others as it reminds me of the Elephant and the Blind Men story. Market is like the Elephant and we are the blind men. We experienced different part and perspective of the market and we have our own opinions. At every moment, there is people longing or shorting any single pairs. All have their own perspectives.

Even this blog and how I traded are merely what I myself see and are advised not to follow. Maybe the one thing you can learn from this blog is things you should not do! 

Eur/usd: -50 pips
Usd/chf: -65 pips



Ai Shiang ♒ said...

I have to agree. That's why I read no news and also not looking at other traders' analysis during trading days.

Black said...

Yup! Otherwise u end up like me, hehe..

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