Does anyone else do this?

So i feel like i have been slowly gaining a good amount of knowledge over the pass few weeks and growing my account pretty good over the last 3 weeks. what i do is usually pull up my charts and what pairs im interested in trading and come up with ideas from a particular pair. i put the pairs that i have interest in on the trading screen keep them there. then i look on tradingview or some youtube channels and see what there opinions are. i like to compare mine to theirs and see if our ideas are similar. i think its pretty cool when my idea is pretty dead on to what other people are thinking. Does anyone else do this?? and is this a good habit to get into? Thanks

I think it is terrible. Why do you want your idea to be in line with others? I think you should trade your own strategy regardless of what others say/think. Sounds like you are spending your time reading up on others when you could spend that on improving your own strategy. Maybe I am wrong here, but you seem to favor ‘following’ others at least to a certain degree and if that works for you then don’t stop.

im not following others i look at other people ideas and see if i can tweak my own and make my own ideas even better. i look at others and if i disagree i move on. i don’t change my whole idea or strategy based on others ideas. also i think when looking at others ideas you can expand your amount of knowledge you have. well atlas i think so.

My favorite YouTuber dude:

I do or I use to as long as you also take your edit post into your thought process otherwise you’d be changing your method every week. A good example is the Fibonacci tool. Some traders include some number, some don’t use as many; Take me I use the 75 level others use 72 and some don’t use the number at all. When I was taught the numbers I was taught the 72.8 and the 88.2 and 65% level meant change of direction. I don’t use the 88 or the 72 or 65, I use the 75. That works pretty good for me overall. Moving Average is another. I started with a 8,3, sma cross, then 12/30. then 7,30,60 200 sma. Now I use the 60 only.

Keep your mind open to all suggestions. You never know which one will get you to where you want to go. But again I apply your edit post in your thoughts. Good Luck

Ohhh. I like this guy too, when I started forex I watched all of his videos.

90% of traders will get a margin call. This is why I avoid taking into account other’s people view. I trade my own ideas.

+1 for fxinfoonline. He has great youtube videos.

I never seek to others opinion for confirmations of my trades… knowing that others have traded the same pair as you differently or going to might make you doubt yourself…and that is NOT what I want at least :wink:

We all trade differently…some need confirmation to feel secure…some get insecure by others opinions :slight_smile:

I like him to, have seen a lot of his videos… he has both feet on the ground and never hype anything about trading

If it’s just an additional check, then yes it’ll do the trick. But if you put it into core concept of your trading system then it could lend into crisis of you own ideas/decisions once. Moreover it can be very confusing as their decision may appear to you more appealing than yours what destroys your trading views actually. BE careful with all those comparisons…

There is no such thing as a perfect idea, since even right ideas can still lose (because nothing is 100% in this game), so finding alignment with other people that are likely not making a living off of trading is pretty foolish.