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RE: If Everyone Thinks Something Is Right, Does That Makes It Right?
Hey looftee, quality blog. I’ve given you a follow now.
I know you’re not meaning it in this way, but since I wrote my sniper blog, I’ve got trading analogies on my mind, and this is another.
If everyone thinks something is right, does that make it right?
In trading, it actually does!
Markets are just a reflection of human emotions and predictions. Technical analysis works because people think it works. It is a self fulfilling prophecy.
Haha well I’m sorry to take it off course, but i couldn’t help myself.
Have a great day!
Well, If we talk about trading, If everyone believes something is right, say a coin will boom. Then everyone has already bought it, and then there will be only selling.
I don't know if I can explain it clearly but in crypto markets, I generally believe opposite to what everyone is saying.
If everyone is saying that btc will drop to 5k again in next two months, then most of the people who believes it has already sold it, so now there are very few sellers and a lot of buyers, the btc will increase then.
I always act on the opposite of general opinion.
Your article was quite a good one and it was opposite of general opinion. Everyone believes that more trading is more profits, but the truth is less trading is more profits.