Media be it social or conventional plays a big part in our day to day life and it also does the same in the stock market as well. What information we consume either through news portals, forums, emails or social platforms impact our decision in the market depending which of them we choose to follow.
We have so many people that are trying to convey their messages that most of the time, you do drown in information overload. And when anything adverse happens - you see both experts and non-experts start to act as "heroes" when they come out with their market theories.
A simple example - the market start to retrace or go against you - there will be someone either in a forum or in social media trying to take credit because they were "warning" you for weeks that something bad is going to happen. When it happens, they want acknowledgement and they want credit. And typically they get it. Someone will say things such as - "Can you tell me how did you predicted it?", "Can you explain how you knew it would happen today?"
That is not the problem because its always good to ask and to learn. Maybe you could really get some pointers. The stock market is not for people who do not want to constantly learn and improve. The problem comes once you get influenced by the information and then religiously follow the person. Whatever he or she says, you follow until you realize one day, they are never always correct. They are not a crystal ball. There is no doubt that those who have experienced and those who have the requisite skills tend to be correct more often than when they are wrong - but even Warren Buffett doesn't get it right 100% of the time.
Eventually to succeed in the stock market, you need to know what information you should absorb and what you should not. You don't go all-in when someone tells you to and you don't go all-out when someone tells you that doomsday has arrived. You only do it if your own trading or investing strategy tells you to.
We are always surprised that so little is talked about emotional training especially in investing/trading courses. Its such an important element that never gets the attention it deserves. Trading and investing is as much about human psychology than it is just about pure skills and experience. That's is why the stock market is not efficient and why there are opportunities. So stick to your strategy and don't get sidetracked.
I am much willing to pay to learn from my own mistakes than to pay to blindly follow someone else and not learn anything. You can join an investing course, pay for website memberships or follow a successful investor - but know to incorporate them into your decision, not just letting them make a decision for you.
And if you ever think someone always knows what he/she is taking about when it comes to the stock market, well know that even a broken clock will show the right time twice in a day.
https://www.laburlah.com/single-post/2017/04/14/Dealing-with-market-noise-experts-and-keyboard-warriors
