Marketers count on the herd mentality of people. We know that a products success is largely dependent on a segment accepting it and that we must market to the various portions of that segment in different ways.
First we must attract Earl Adopters, next Earl Adaptors, then the leading pack, the heard, bla, bla, bla. We can watch the product acceptance move through an upward curve and see when the Early Adopters start leaving and herd interest begins to wane.
It’s predictable. It’s human nature.
This is my natural mental process and how I see the forex market. The market is made of humans, herds of traders following trends and news. Go against the herd and you get trampled. Lead the heard and you make loads of money. Follow the herd and you make some money.
By nature I’m a contrarian. I hate herds and stray as far from the pack as I possibly can. I’ve learned in just a couple weeks that in forex trading I have to force myself to play within the herd or I lose my shirt.
Thus far I’ve been pretty good at finding the herds direction and making a profit. The few times I have veered from the path I’ve lost. Now I’m learning that those cute colorful charts with lines snaking across them help determine what the heard is thinking. Of course everyone is watching those lines and the question each of us needs to answer for our self is do I want to be an Early Adopter and potentially make a boatload of money or am I happy traveling with the rest of the cattle. There’s nothing wrong with either but it’s something we all must know to be successful.
I have started my education on forex charts. Some of the info is extremely confusing to my noob mind so I’m translating what I’ve found into normal speak and will begin posting chart info here this week.
I welcome your comments, suggestions and assistance.
Thanks for your time.
