One of my criteria 'not to lose money' is to avoid forums. This is one of my rules I placed for MYSELF when I first started moving to markets.
Knowing that 80% losing money, I was 'wise' ... and told myself to be contrarian. Majority of those in markets somehow or rather will get links to some forums ... wanting tips or easy-money. They REALLY thought there will be some insider-tips they could follow(to buy) and profits hugely from there.
It is easier said than done. We could easily be driven into the forum-holes. Forums are the platforms for some syndicates to send some runners .. spreading rumours and so-called insider-news. You could never know how sincere or genuine those postings. It is difficult to understand why so many 'sucked' into forums ... but I guess it is just human ... they want it easy. They have greed(as many why they go into markets, they will tell you they want to profit and get rich?!) ...
So, in my initial years(3 years) I avoid forums ... until I opened RHB a/c and do place some footprints there with few posts, sharing ideas while learning from some posts there. I repeat, I use some posts to LEARN. I filter good ones ... and RHB-forums is 'good'. After few months, I stopped RHB-forums when it becoming noisier ... crowded ... I dislike crowds, actually.
I have also registered with ChartNexus-forums ... and I do remember I have few posts there too. I have no longer check the forums for years now, I guess. There are many 'sifus' there ... and while I do learn from a few 'seniors', it is far too noisy for me too ...
I have not been active in forums .. definitely do not have the time to read from those comments. I am more focus in my own learning ... there is no free-lunch there, I am sure.
Some using forums to sell ... their products. Some unit-trust agents using them to pormote their products, we have insurance agents promoting themselves there too. Trading schools will send their employees(paid to do the job) to promote their trading courses ... bloggers promoting themselves there too? Softwares dealers ... selling anything they could ... that is forum. Noisy.
I joined i3-investor last year(cant remember the year) ... and I really thought I hv found a good platform, a 'mature' forum ... to discuss trading ideas, helping each other in our trades. For example, we could share about factors that affecting glove-stocks ... latex-prices, USD blah blah ... and those newbies can learn from it. Yes, I m so willing to spend some of my time checking on some GOOD posts(I do still filter) and if I could reply(to help) ... and share my knowledge, why not?
Market is at new high ... making it very noisy now. So, it is attracting more selling agents there. When market rocketing, many stocks are gaining too. Do you know why?
To ask majority to THINK logical is not easy ... in fact, in bull-markets ... so many sifus out there!! Profits are in their fore-heads. No one talk about their losses ... no one want to THINK ... about risk. No longer we speak about learning ... or we do not care about our strategies/plans.
It is noisy ... very noisy. So, time for me to move away ... and yes, sell most of my stocks. I will be moving to short FKLI soon.
Recently I spent some of my time answering some comments in i3-forum. I realised that I was 'sucked' into replying ... it is like an obligation to reply. I am very busy ... and TIME is a commodity to me. IF I have earned millions from markets, for sure you won't see me forums anymore. I will be busy teaching trading for charity purposes!! That is just my personal goal.
To realise my goals, I believe I need logical traders around me. So, I filter ... and get to know some REAL traders who talk logical senses ... while continue to learn from each other. Trading is a journey ... learning certainly takes lots of time.
Well ... I am going to 'quit' i3-forums for the time being. I have never wanted to be sucked into some un-neccesary conversations. So ... count me out, I have to focus in my own trades and I have much more to learn.
I never have a post lowyat's forum or read posts there until someone sent a link to i3 yesterday. I checked on the link and found forums could be interesting ... but ... as forums would be ... NOISY.
We could get opinions of others in forums ... but always remember, a promoter could get into a few nicks and ABUSE the platforms for their personal agenda. Just be careful if you really need to be in forums(which I cant understand why).
My advice to newbies ... AVOID forums. It is too emotional and you will be distracted more than you think.
If we know how tyo filter, it shows we have the maturity and we in control of our trades. Otherwise, avoid.
I am getting out of third forums ... after RHB-forums, CNX-forums ... now I moving away from i3-forums.
I will only come back again ... when market collapses and many needs advices and 'help'.
Yes, I always write what I feel ... and I do feel I still have so much to learn. I m still very humble to say that I am still in novice level. I do listen to good comments and logical pointers.
Thanks to many who supported me(in i3-forums).
Thanks to some who have gave me good pointers where I do learn a lot more about markets.
Thanks for listening.