Are trading forums worth your time? Yes and no. (Terribly indecisive answer, I know :-) Let me explain. It depends on how you use them.
If you're very new trading, forums can be an asset, if you proceed with caution. There are a lot of people on those boards who perceive themselves and being something important and skilled. They are neither. The bad part is sometimes they are hard to tell apart from those who offer real value. Don't take anyone's word in a forum as gospel.
So, if you're new, you could find yourself being steered down the wrong path. However, it can be a great way to be exposed to new ideas. The way you want to approach a forum is like hit and run . . .
Take this for example, if you find yourself posting multiple times per day, you are wasting your time, and that is the great danger of these forums. They can become addictive to certain types of people. They leech your time away.
Time that should have been spent trading or something productive. Instead, you wasted it away "chatting."
Here's how I use forums. When I need feedback or an idea, I hop into them. When I've gotten what I want, I hop out. I know, that's not supposed to be how it's done. You're supposed to stay and "add value" to the forum.
You're not taken seriously if you don't have 100 posts along with your name. Who cares? Don't waste your time. You don't need acceptance into that "circle." Get what you need. Move on.
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Nathan Pennington is a forex trader and the author of Winning Forex Trading -THE Definitive Guide
Source: www.isnare.com
