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Herd Instinct – Why Following the Crowd Is a Fast Track to Failure
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What this lesson covers
Herd instinct is the pull toward doing what everybody else is doing, and it affects experienced traders as readily as new ones. This lesson explains how the effect builds, particularly the role of media coverage in amplifying it until participation feels less like a decision and more like common sense. The example used is the cryptocurrency run of 2017, when Bitcoin's rise pulled attention into alternative coins and initial coin offerings, and enormous numbers of people bought into assets they had not evaluated because everybody around them was doing the same. The lesson draws out the warning signs of herd behaviour in your own trading, and why the moment a trade feels obvious and universally agreed upon is the moment to check your reasoning.