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Follow news, economy and fundamentals while trading?
Most of the discussion here seems to focus on technical trading. Does anybody follow intraday news, or economic reports, or other fundamental information while trading? I'd like to think yes, though as a scalper I tend to ignore the news and let the market come to me and take money out of it. However, if trading over a longer time frame market sentiment and news plays a larger role. If so, which news sources do you follow while you're trading? (CNBC, Bloomberg, some online news feed, etc)
Can you help answer these questions from other members on NexusFi?
Yes, there are some events that demand attention and respect. But I don't watch CNBC anymore while trading, I prefer it to be as quiet and relaxing and non-distracting as possible.
I use forexfactory.com for their calendar. I am trying to program a C# method to pull data from their calendar that relates to the markets I trade so an indicator within NT can tell me when not to trade automatically, but for now I just visit forexfactory daily.
Yeah, with Forex you have to be aware of central bank and other announcements. Same with treasury futures. With commodities you have to be aware of days where supplies/inventories/yields are reported as well. With index futures, probably not so much, maybe macro-economic reports like job reports, consumer confidence/sentiment, durable goods, purchasing managers reports, etc. but many times the market shrugs off those reports, other times it responds strongly to them.
