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Forum peer pressure

  • #21
  • Feb 27, 2009 11:04am Feb 27, 2009 11:04am
Quoting Jay Walker
It's an idea but it's not wrong enough to do that.

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

We would need more bad calls.

I think everyone succumbs to forum peer pressure at one point or another. It's to be avoided.

I was joking, but only half joking about contrarian trading.
It works with stocks.
One of the best fundamental systems I've seen, with stocks, is using the odd lot index.
You know what it is, but for those who don't- it is a report of buys vs. sells of traders who trade less than 100 shares.
Those are the little guys. Go against them and you'll make money.

I have not seen any evidence that a similar approach works in forex.
For one thing, this kind of data is not available, since there is no centralized exchange.
  • #22
  • Feb 27, 2009 11:33am Feb 27, 2009 11:33am
Quoting Rabid
. . .
So why do ppl fall into forum peer pressure? Because it's an out. It's an out to the self-doubt, it's an out to the responsibility, it's an out to the difficult process of self-realization and re-programming that we all must go thru.

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

Think about it, most of the time when a person has left their group they've gotten eaten by a bear or a tiger or something. It's only been the last thousand years or so...
I think you're probably right about the evolutionary links to "group think" and "peer pressure". It's pervasive through society, and forums are just one example. As traders, we might have to deal with peer pressure from family and friends who doubt that we're doing the right thing. We also have to deal with apparently crazy swings in market sentiment (which is a form of group think). It can be a daily challenge . . .
  • #23
  • Last Post: Feb 28, 2009 8:54am Feb 28, 2009 8:54am
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'm finding it easier and easier to ignore any posts which contain price predictions for the future...
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