If you recognize Marky1 or Benji1 in a tweet @BagholderQuote The concept is simple, multiples time a day, the account quotes the dumb of the dumbest from all over twitter, trading forums, stocktwits, Investors hub, etc. Picking from what seems to be an endless sea of bagholder wisdom, it exposes us to the deep thought process of unsophisticated investors. And please, don’t be offended by any of this, being dumb as a person and dumb in the market can be two distinct things – although they sometime over lap – most new comers are dump market participants – such is life in trading / investing world.
The account is both funny and sad at the same time. Some tweet will get you tears of laughter, while others will have you feeling sorry for the bagholder. But all jokes aside, to a developing trader / investor, as much as the tweets are funny, they hold 10 times more value than laughter.
The value comes from two human nature traits
First, it is much easier to judge others than it is to look at ourselves in the mirror. We can much easily see the flaws in others than our own.
Second, it’s often easier to learn and progress, not by knowing what to do, but by knowing what not to do.
The first one is more about where the entertaining component of this account comes in, but it merges with the second one in the sense that you may not know that your understanding of the markets is complete garbage. So as you read each tweets, know that it shows you how not to think about trading / investing. If you recognize yourself in a tweet or if God forbids you find yourself featured on a tweet, know that, first, it is not a “paid basher” and second you have some serious reconsideration to do.
Trading / investing is a complex world. Not that your strategies have to be complex for you to succeed, but in the sense that it is a vast field that one can easily get lost in. The the hard part of the learning process is to navigate through all the free and paid resources and know what is actually good info and what is garbage.
To reinforce what was stated a few sentences above, this account will not give you the holy grail of trading success, but it will show you what not to do / how not to think. And that my fellow friends, is a major step in the right direction.
Good luck out there