I have been watching a few videos on YouTube and I think that I have been able to learn a whole lot from them. I a wondering though is it eve safe to be taking advice from people on there because I do not want to go on there and then I get bad information that leads me to make even more bad decisions. What do you guys think about this?
It's always great to soak up as much information as you can from many different sources. But you'll need to make comparisons or using whatever means at your disposal find out if the information you got was accurate/reliable, etc. That's why there are forums like this. When you hear something you doubt you can always ask questions and get the right answers.
Youtube has an endless potential for every single area we want to learn. We can just look there for what we want and learn, let me tell you, I've done it a number of times and I am never disappointed.
I was literally on youtube the other day and I am thinking to myself that this website has so much information that anyone from anywhere on the earth can learn as much as they want about any topic that they want to. That is really how powerful it is.
Yes, relying on someones recommendation without knowing what their incentives are can be dangerous. What do you think of the idea of people actually sharing their real trades with one another to create more transparency?: https://www.youtube.com/watch?v=FS_dFjyqRt0
Try and take everything with a pinch of salt and wedge of lime ...a friend of mine always tells me to gauge at something the same way i'd judge a coin at face value and that advice has come to help me a great deal...not everything is bad or good and not everything is beneficial or worthy and yet there are things that are worthy, beneficial and important...a discerning eye and mind will help here
If you're listening to those who have climbed the mountain, you're getting good info. They may not always agree with one another, but in general their info is worth at least considering for yourself. Listen to Buffett, Dalio, Icahn, Ackman, Einhorn, and others who have billions or more under management and many millions or billions in personal wealth they've made in the markets over many years. But the unknowns or lesser knowns who may be selling something are probably best taken with a big grain of salt. And if they don't have a lengthy track record of verifiable success (through good and bad times going back many years or decades), it's probably best to not pay them a whole lot of attention.
