Why you should never blindly follow anyone

February 28, 2023 - 2:05 pm EST

Several reasons blindly following anyone is a recipe for disaster:

a. We’re all human. If the leader falls over the edge, the last thing we want is for you to follow. Markets change, they can be misread.

b. We all have different capitalizations. I may be ok with a $30k risk whereas you may not… that will affect the outcome.

c. We all have different understanding of the strategy and risk tolerances. No two traders are alike.

d. We all have different interpretations of the market at any given moment, even while looking at the same chart.

e. When a pro enters/exits positions, the last thing he/she is thinking about is reporting it to others. Therefore, by the time the trade is sent, you receive it and act upon it, that trade may well be over.

Bottom line: learn to earn so you don’t have to rely on anyone else, ever.

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