No setups today..no sector play..just a question.
Although I strive to be mechanical and simple in my trading style and avoid as much “noise” as possible I admit that at times I am a Stocktwits junkie. My recommendation is the same as all the other seasoned professionals on Stocktwits….use it for idea generation…develop your own repeatable methodology…plan your trade and trade your plan.
With that being said, Stocktwits has done what no other medium has done for traders. It has assembled the best of the best in this business and provided them with a forum to exchange ideas, challenge each other and even pat themselves on the back for the unbelievable amount of profitable advice they share with all of the “listeners” from newbie traders to the old timers. The stream includes current and ex fund managers that manage sums of money many of us only dream about, there are well known analysts, extremely knowledgable economists, ex Mutual fund managers, current and ex brokers..this incredible list of disciplines goes on and on. It doesn’t get any better than this. One would think that with all this knowledge, experience and firepower any market and trading question can be answered by the community.
This brings me to my question…with all this knowledge in one place, why is there still reference to “the smart money”, “they”, “the big money”. There seems to always be some big unknown, unidentifiable entity that controls our destiny, the market direction, and our trades.
If “the smart money”, “they”, “the big money” aren’t part of this vast and knowledgable Stocktwits community, who are they and where can they be found? I wan’t to know so when the market turns against what the stream is suggesting and it was the “smart money” that made it happen I would like to know in advance.
The answer to this continues to elude me.