If only would be paid for every prediction of the next market crash I'd be very rich. We are so used to being brainwashed that most of us do not even notice any more to what extend this is happening 24/7.
Fact: You are not thinking for yourself, you are constantly told what to think
The permanent barrage from the financial media that only serves one objective that is to make you do something that is not to your benefit, but fills their offers in one way or other, has reached a point of beyond excess. Today you simply can not turn on CNBC, Bloomberg or any other news channel without being brainwashed. This is not news any more.
I regularly receive emails from so called "leading market analysts" telling me of the big crash. Big crash mean that we must see a price drop of at least 15% in a short period of time.
Artificially induced fear rules the world of trading and investing
I just have one question: What happened to the big gold rally forecast by well respected analysts like Martin Armstrong for the last two years?
I do not know about you, but I am sick and tired with these pumped up hysterical market calls designed to get your attention and flatter their producers' egos. If I make the same market call long enough eventually it is going to happen.
Alas this is not the worst part of it:
Our brains simply can not cope with this constant overload. If you think that listening to the news will help you become a better trader, think again. All it does it panders to a deeply rooted insecurity inside you that makes your mind susceptible to authority, fueling insecurity, greed and dysfunctional trading behaviors.
Today everyone has guru status who has appeared on TV at least once
The entire guru industry is a media machine designed to disempower you and make the many trade forecasting services a lot of money. Unbeknown to your conscious awareness your brain is added to this kind of information overwhelm. If I asked you to stop listening to the news from today on for the next week or so, you'd find it very hard to do.
Most of what you are told is plain fabrication with no base on reality
Yet the story is repeatedly sold to you from many angles that historically you believe it. Welcome to the biggest brainwashing machine out there.
Fact: Most of so called gurus are brilliant at selling and lousy at trading
I know quite a few of them and have seen their trading accounts. Believe me, you would be shocked.
I wonder: How many times have you been caught out in a trade you took just because you got driven by the opinion of some trader who comes across as extremely knowledgeable and competent? I dread to think. I used to do it too. In fact, I lost way more money following the advice of other traders, brokers and famous analysts than I managed to lose trading my own style.
Distinguishing between what is true for your trading psychology and personality and separating the wheat from the chaff is a tall order.
Most traders' brains are simply not trained to manage their minds in a constructive way that serves them. They are too immersed in their unconscious addiction to know ahead of time where the market is going. I know this is tough talk, alas it is one of the few truths out there. Freeing yourself from the addiction to market news is one of the kindest things you can do for your brain and your trading account.