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Should You Follow News
Started:May 22nd, 2012 (07:30 PM) by SammyD Views / Replies:412 / 4
Last Reply:May 23rd, 2012 (02:03 AM) Attachments:0

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Should You Follow News

Old May 22nd, 2012, 07:30 PM   #1 (permalink)
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Should You Follow News

My usual routine daily is to check the news before trading. My question is does the news really matter? It may sound ridiculous but if someone is a true technical trader, are they not trading the reaction to the news (via price action) anyway? Also, who can predict with any certainty how news will be interpreted; after all, isn't this what makes a market, two opposing opinions? Although reading headlines and stories can certainly be entertaining, is it a waste of time? I should preface all of this by saying that I mostly trade Forex, not individual stocks, in which case it would seem advantageous to stay up to date on individual companies.

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Old May 22nd, 2012, 07:30 PM   #2 (permalink)
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Old May 22nd, 2012, 09:07 PM   #3 (permalink)
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Forget about watching the news....the moronic talking heads.
All you need to do is look at a calendar to determine when the major announcements are and if your not in a trade, stay out or if you are make sure you are protected (immediately before and after).

Listening to news almost always causes you to lose money...either by keeping you out of a good trade or getting into a bad one.

You have undoubtedly heard it a million times to trade what you see on your chart and that is exactly what you should do....all the other influences just cloud your judgement.

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Old May 22nd, 2012, 09:20 PM   #4 (permalink)
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Use an economic calendar to be flat during a medium to high level event, like inventory, NFP, FOMC, etc, and ignore news otherwise.


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Old May 23rd, 2012, 02:03 AM   #5 (permalink)
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I guess most people here will disagree, but I think you should absolutely follow the news. You can choose to not consider it with your trading decisions, but even so I think a professional trader has to at least stay reasonably up to date with financial markets.

Of course it is not possible to interpret with certainty what the reaction will be. Most of the time I don't even try to trade off of individual news stories. Every once in a while though there is news that you can trade and these times have been some of my best trades.

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