I sometimes wonder what is the role of an analyst in active trading. After talking to a lot of active traders, i came to the following conclusions:
1. They are being paid to write rosy analysis for a company, so that the company is able to trap newbies
2. They have ulterior motives, such as getting people to join their paid blog sites
3. Create confusion in the mind of newbies
4. They failed as a trader & are now out to scare the hell out of trading community, such as if you enter into this or that trade the sky is going to fall
5. They will change sides faster then the time it takes to change their underpants
6. They make such vague statements that sometimes i wonder that, are they mentally compos mentis
Practically they will never commit to which pair they are going to enter, their precise stop loss, profit target etc, etc. They will charge, to show you some distorted, manipulated past results. They will freak out if somebody asks them for help with live trading. I saw a lot of these people on various forums wasting precious space. For me their writing does not serve any purpose. 90% of the times their predictions are wrong.
Let me put on an analyst cap & predict that EUR/USD will reach 2.50, GBP/USD will be 3.25, USD/CAD 0.50, Gold $3000/oz, Oil $500/barrel, GBP/JPY 750.00 by the end of 2008. I will enter a trade when Mr. Bush sneezes & exit only if Trichet resigns. I will keep my stops very very tight, & will keep buying Euro's on dips to 0.80.
On a serious note what do you think the role of analysts should be. Any thing you would like to add. I feel that if they are allowed to post on a forum they should not try to promote their business & hoodwink the members. With their so called knowledge they should contribute positively & be beneficial to the community.
KZAZS
1. They are being paid to write rosy analysis for a company, so that the company is able to trap newbies
2. They have ulterior motives, such as getting people to join their paid blog sites
3. Create confusion in the mind of newbies
4. They failed as a trader & are now out to scare the hell out of trading community, such as if you enter into this or that trade the sky is going to fall
5. They will change sides faster then the time it takes to change their underpants
6. They make such vague statements that sometimes i wonder that, are they mentally compos mentis
Practically they will never commit to which pair they are going to enter, their precise stop loss, profit target etc, etc. They will charge, to show you some distorted, manipulated past results. They will freak out if somebody asks them for help with live trading. I saw a lot of these people on various forums wasting precious space. For me their writing does not serve any purpose. 90% of the times their predictions are wrong.
Let me put on an analyst cap & predict that EUR/USD will reach 2.50, GBP/USD will be 3.25, USD/CAD 0.50, Gold $3000/oz, Oil $500/barrel, GBP/JPY 750.00 by the end of 2008. I will enter a trade when Mr. Bush sneezes & exit only if Trichet resigns. I will keep my stops very very tight, & will keep buying Euro's on dips to 0.80.
On a serious note what do you think the role of analysts should be. Any thing you would like to add. I feel that if they are allowed to post on a forum they should not try to promote their business & hoodwink the members. With their so called knowledge they should contribute positively & be beneficial to the community.
KZAZS