Updated: Jan 2
Everyone has an opinion of what is going on with the dollar, the economy or the government and why cryptos are good. The news has an article one day about now being the best time to buy real estate scroll down a few articles and there is an article about how Corona will affect the property market and unemployment plus your friends have their views and advice.
Just ignore everything, simple as that.
Start training yourself to ignore everything that is trying to give you a perspective on what is going on with financial markets and anything that could possibly affect them because it’s all just white noise. It doesn’t mean anything and won’t help you long term to make important decisions.
If your strategy is listening to the news and you’re making a killing and you’re in full control of your financial future that’s amazing great stuff keep doing what you’re doing this is very rare.
The media is a narrative\agenda machine that is designed to feed you with whatever they want you to know so it is not a good source of financial news. You should completely ignore the news because it won’t get you anywhere and most people are getting their news from one of these mainstream sources which influences their decision-making. This also goes for economic data that comes out, the numbers are not always accurate.
It is also another example of trying to use past data and information to predict the future. Remember that saying? Past performance is not an indication of future outcomes?
Just use simple logic, unless you know how the waves operate then you are unlikely to have any idea what is going to happen next.
There is one caveat though, using social sentiment extremes are good indicators of tops or bottoms of markets but that is a whole different field. Look up Socionomics.
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