What is Bandwagon Trading?

When it comes to names, creative names, not name calling, I can say that (at least from what I would like to think of myself) I've got talent.

I joined this great group, called Absolute Traders. For the longest time, I was saying, where can I learn Technical Analysis? So maybe, by shouting out to the great beyond, my pleas for help were heard. And through the confluence of fortuitous events (how redundant can I get), I went to this seminar by ****** ******* Brokerage. They had a segment for Absolute Traders. Thus, I learned about them, and now, months later, I'm a member!

They've taught many a great lesson. But you know, lessons are good, application is better. If life is called the school of hard knocks, August was my most expensive tuition. Ouch! So anyway, enough of that, let's talk about being a trader, and being a bandwagontrader.

In Absolute Traders, they have this forum where people can contribute. Well, I being the creative wannabe, came up with a short list of nicknames. I had to think of something. It couldn't be Mr. Bearbull, since it's already being used. It couldn't be PhilippineStockMarketInvestor since it would be too long.

So I thought, when you're a trader, you must follow the trend. So I thought of some names related to that, and here were the samples

Trendsetter
Trendtrading
Mr. Trend
Trendmaster
Trendfollower

These are all copyrighted. So don't use it you piece of unoriginal something! Hehe. I know I know, imitation is the greatest form of flattery. But intimation, that is the best form of praise. So if you plan to use any of the above, please, mention me and this blog of mine would ya??

So anyway, I thought, there's this term called bandwagon mentality. Where anybody and everybody, for whatever reason they may have, just follow a certain form of idea or belief. In trading, you CAN'T afford to be counter trend. It's hard to be a contrarian sometimes. Can you imagine?

GEO went from below Php 1.00 and swelled to a high of Php 3.00. If you were the contrarian during that bull run, hmm, maybe you'd be holding on to JOH by now. Hahaha.

So in short, when you trade daily, and you see people buying up a stock like there's no tomorrow. You join in the fun. Hop onto that bandwagon. You'll likely be riding that all the way to the bank.

Ciao!