People Spend a Lot of Time Telling Other People They are Wrong
I am always amazed at amount of time and energy that people spend telling others when and why they are wrong.
In stock and commodities business, people are wrong all the time. We stop out and move on, the Key is to cut losses and leave profits run. And strive to be 50% right.
No one is 100% ever,
The Big Q: Why do some people want to hammer others who are just sharing information on friendly “shop talk” forums?
On Wall Street the really good traders are right about 40% of the time. There are savvy participants that are well paid that are only right 20% of the time.
I do not consume financial media, it is Noise. I get my data from the market, the sentiment, and charts, PR and hyperbole are not part of my equation, I have always done my own work. I look forward, at least 6 months.
The here in the now TV financial pundits have a reputation for always being wrong. And in that scenario it is impossible to be right. The press is always a contra-indicator.
The number of people who have predictive power in the markets is small, very small indeed.
Coming up with ideas and managing risk are actually 2 different skills. And the majority of participants have no ability to predict. They are not futurists. They trade off of notions and inklings. That is not Knowledge, and Knowledge is Power.
I write and publish what I believe after doing my own work, and I am careful not to make recommendations.
Remember, it is your money, so it is your responsibility. And there will always be another trade, let profits run to target marks (North of South) and cut losses short.
Note: On 9 March 2009 on my radio show I called the bottom of the Bear market at pricicely 1:00p EST. and that year I was 94% right. Fond memories.
Latest posts by Paul Ebeling (see all)
- Stress, Anxiety and the Human Brain - September 23, 2017
- NFL Owners Should Fire Players Who Disrespect Our Flag - September 22, 2017
- Television Special of the 2017 Pebble Beach Concours d’Elegance - September 22, 2017