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Internet Forums can be a valued source for information.


Internet Forums can be a great resource for information if used correctly. The word correctly can have different meaning depending on the person using a forum.

There is some information that you'll find on Internet Forums, little tidbits that you won't find anywhere else. The information will not be found in Industry Trade Journals because it is not politically correct. And even if it is not industry related there are things you will not find in books on specific hobbies or even in "how to" articles.

Still, one has to ask; how much of the information in this online format can you really trust? After all, these days we can barely trust the newspapers or TV, and that famous quote that; "You can believe most of what you see, half of what you read and none of what you hear," does seem to pass the smell test. So, where does the Internet forum information fall in that line of reasoning?

With folks using fake names, handles and screen names, you do not even know the source of the information or their reputation, credentials or experience levels. That in itself if rather problematic when you consider the implications, the number of people reading information in these venues, and the huge number of people that do believe everything they read.

But does all this mean you should never read anything on these forums? I'd submit to you that there is decent information there, and that you have to be wise enough to figure out on your own whether it is true or not and it makes sense to read it with skepticism.

One forum I use is a good example. Current we have two posters. One I will call Ricky, and the other Squid both come from different backgrounds, and both have their own moral compass. So how do we tell really what is going on with the information they post, and how can we tell reality from fiction?

This is one way I would suggest. Do an Internet search on both using a variety of phrases, like (Ricky or Squid) forums.. Complaints, and a host of others factors. See what pops up, and maybe one of the two, or both have a history of certain behavior you want to avoid.

Another way is watch their behavior when posting, example here is a couple of my personal observations about the two posters.

Squid: Squid has a long history of posting on this forum. He has offered his personal experience plus easy to follow trading recommendations of commodities his system follows Buy/ Sell, and follows up with a record of profit and loss. Squid will also point out pretenders that often troll the forums looking for New Traders who lack the experience to recognize the “carnival barkers”. Sadly when doing so a flame will often ensue “bakers” don’t like to be uncovered unless it is to their advantage.

Ricky: Ricky has a long history on the web of using many different methods to market his services (polite term for hype). A person that will come up with a search of Google, Yahoo, and other search engines supporting his behavior of other forums.

Ricky is a classic example of a person that uses forums to find new money. His methods are suttle, but obvious. A couple examples.

Most forum moderators can trace the posters IP address to identify the poster’s location which helps identify those that use “fake names” to support the “barker’s” false claims, and make those like Squid look like a jealous poster, or a trouble maker. In the case of Ricky, although he has a reputation of doing this on other forums. The difficultly is that there is software available to mask the IP Address to appear coming from a different location, or simple use “remote access” to a friends computer located elsewhere.

This would seem to be a lot of trouble, but not to the “barkers’ of the world looking for money, and using forums. OK, then comes the difficulty to get a following on a forum especially with a reputation that proceeds Ricky.

First remember most like Ricky have studied the behavior personalities of the people “likely” to give him money. These people are likely not knowledgeable about trading, and convinced that trading is a path to riches that will be given to them for just a few dollars. So they are in the market, and anxious to part with their money.

Ricky will find forums that have people looking for information and establish his “blackout false names” in advance. So not to be to obvious he may seprerate the false names (all Ricky) joining a forum by days, weeks, months, and in some cases maybe a year. This offers Ricky a clear path to weave his magic, and not be obvious, but a victim of any attack that may come his way, and he know the attacks will come.. He uses them to his advantage.

Mode of operation: post his thoughts as to market direction, and credit his system for identifying the move. Sprinkle some suttle comments that suggest the market will go higher unless it goes down, or down unless it goes up. Then wait, maybe post some more, and especially if the market goes the direction of his system have his blackout posters give him a round of applause. If the trade does not work out then wait for someone, like Squid, to point out the trade did not work like his system suggested.

Either way, good or bad, the trade works to Ricky benefit. The blackout posters, congratulating him on an excellent job on a market call that went his direction, and that will often grab the attention of other posters that will also congratulate him. Ricky only job at that point is to remain humble, and continue to post other trades. The ones that do not work and pointed out by Squid or someone that has just started following him it becomes Ricky’s job to remain clam and explain his system really worked and the other person did not apply his system correctly. If continued discussion peruses his blackout posters will, of course, come to his defense, and make the other poster appear to be a clown. This will discredit the other poster, and give credit to Ricky. The other that asked the obvious question feel they misunderstood, and because everyone else understands (the blackout posters planted months in advance) they become silent and wait for the next magical trade.

The Rickys of the Internet have found that without their blackout poster they are dead in the water.

These personalities can destroy a good forum over time, and the strong poster that the person looking for when they first came to the forum are gone. Ricky does not care about the forum, he has his own, and something that will be brought up by one of his blackout posters (the forum Ricky controls).

The reason I published my observation on a web page is because it is so long, and most people are not interested (who can blame them). If I post it on the forum the blackout posters will hit it, and defend Ricky, which is in itself is disruptive to the forum’s mission.

If you have read this far you have the patience that escapes me.


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