Common Trading Mistake - Looking for opinions of other people

Social media is filled with opinions. Right now, many posts compare the current market with previous weak market conditions (2015, 2018, 2022). But here's the thing—for every comparison you show me of how the current price action will lead to a further decline (based on some price action from years ago), I can show you two comparisons of why it won't. The truth is that nobody knows for sure. Remember that fear is most rampant at market bottoms. A recent example is from March 2020, when a lockdown was imposed to stop the spread of COVID-19. This triggered panic selling and NIFTY fell 13% in a single day. Guess what? That day also marked the bottom of a 40% correction. Funnily enough, that day also saw the most comparisons and arguments for how this is just the beginning of a bigger stock market crash, and perhaps even the end of the world! https://preview.redd.it/18ln4wud3ece1.png?width=1835&format=png&auto=webp&s=0a98dd1863a7e203be0e665e1cf5f52941de71a6 Define your parameters. Don't rely on opinions. If you do, you will most likely end up missing a bull rally when it comes (Like March 2020) Instead, define the parameters that will guide you for when to start taking new positions. Throw news and opinions of other people in the trash - trust yourself and your system. Most importantly, truth what the market is telling you. How to make a defined system to guide you? Here's what I use - [https://x.com/tradelyfblog/status/1868690041968476341](https://x.com/tradelyfblog/status/1868690041968476341) Opinions don't make you money, market moves do. So let the market moves guide you.