I’ve come to an important conclusion regarding the possibility of you joining one of the many Forex forums which are so common online.
If you’re going to be the joining one you should demand that the forum administrator mail you a handkerchief. I don’t think emails can deliver handkerchiefs… at least not yet, so a regular package will have to be used.
The reason why I believe a Forex forum membership should come with a complimentary handkerchief is that by browsing through an open forum (not a paid one) you’re liable to come across a lot of sob stories and may need to spend a great deal of your time just sifting through stories of losses and heart break to find those nuggets of real knowledge that you may have been looking for.
Forums have largely become a place where people vent out their anger and frustration at robot developers, forex courses authors, their lack of success, and the market in general.
It is sad and I am not ridiculing people who lose money on the market or how a big loss can make you feel. I know that it can be like a punch in the stomach to suffer a loss.
However, forums have become a collective therapist which is doing little good for most of these traders. I don’t want you to get sucked into the emotion filled quicksand that these forums can be. It may prove to be a huge time waster for you. It can also prove to be an emotional drain that will tear at you mentally. This isn’t something that you want.
Most of the time, when people whine or complain in forums, they’re looking for companionship, not learning a lesson. They are looking for other people to report their losses as well so that they may feel a bit better about themselves and their poor results.
This is not what you need. This is not what you want. This will not make you a better Forex trader.
The fact is that to find good and reliable information on a forum is a truly difficult task. It’s like mining for gold. It is hard to come by and you have to go through a lot of sand and dirt to get to it.
So, are forums a complete waste of time?
No, they’re not. There are a few things you can do to make a lot more from forums than most traders do. In tomorrow’s post I will share some Forex forum tips to get you to take advantage of forums and not waste your time in them.
In the mean time, don’t log on to a forum without having a hanky nearby.
If you’ve had any experience with forums that you wish to share, leave a comment below.
