- Mar 18, 2002
. . .The less you know about how someone else views the markets and their strategies and so forth, the better equipped you are to make decisions and accept responsibility for your own trading decisions.
Welcome to the site!
Good post and I expect many members will agree with what you say. Given that this is a FAQ in the 'New Traders' forum, most people reading it are likely to be inexperienced newbies. Nothing wrong with that of course, we've all got to start somewhere. However, it takes a massive amount of self-confidence and, even, a good measure of arrogance, for the newbie to do as you recommend in the section of your post I've quoted. I suspect very, very few people make the decision that - beyond reading books / websites and what not about the basic mechanics of trading - they're going to work everything else out for themselves without any external input. My guess is that if there are any traders out there that have actually done that - they are as rare as hens teeth.
Having said all that, your point is very valid - but it's a real catch-22 for the majority of newbies, IMO.