[Joe725]

[quote pid='15738' dateline='1587660045']


Hi,

If think there is a general misconception when it comes to the news and media. On one hand, you should not let the news mess with your approach. The reason Stage Analysis works, is because it lets you have an objective entry and sell point. That invaluable when it comes to trading. Trust your system. On the other hand, if you learn to use news as a gauge of fear and greed, it can be a handy tool to have in your arsenal.

Let me give you a little example. 3 weeks ago, i was considering whether or not i would short the ongoing pullback. I wasn't quite sure, because it seemed like everyone was way to bearish for another leg down. I then created a questionnaire on a danish investment Facebook group. As you can see, there was way too much pessimism for another leg down. I decided against shorting because of this.

(I know this is in danish, and just to clarify, i was asking whether or not they thought the bottom was in. The overwhelming majority, about 90%, said they didn't think so. Only 10% said the bottom was in.)



Use the media as a gauge, but for gods sake, never let it interfere with your approach.

All the best,
@marcushaugaard

Thanks Marcus, that's very insightful. I think I will try and use like minded people to get my news from, not someone who may have a large financial gain to profit from. That is why I think this forum is incredible, it seems to be like minded people wanting to help each other. I have been following you on twitter for a few days and liking what you're putting up too! Thank you for you r continued answers to questions, it is much appreciated!
[/quote]

I'm always happy to help out. I found that a forum like this can be incredibly helpful, that's why I try to contribute as much as possible. But don't take me as some guro, I'm definitely not. Otherwise I'd be sitting on a private Island in the Bahamas right now, haha.

Haha! I appreciate the help from anyone, I try not to follow people's stock advice too much. I'm currently reading the Reminiscences of a stock operator and it's opening my eyes up to listening to people too much!