Wise After the Event

In my earlier post Did you buy ? I explained that viewers should have a strategy to follow the advice given on CNBC or for that matter from any source.

A comment said:
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…today you were on right side /direction thats why you are asking /saying in such tone.The question for retail investor is to whom he should lidten???
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This is a relevant point to make. My suggestion was that traders should formulate a strategy to use the ideas given by analysts. The point I was making was that you should have a plan. Then, you do not have to ‘follow’ any analyst. You listen to their ideas, use their thoughts in your plan. All analysts will be wrong (yours truly is wrong more often than correct!). That’s why you need your own strategy to enter / exit the market. This is not easy, but trading success comes with dedicated work. Make a start. Write down a plan. Then keep on modifying it /reading it.