Quote from the1:
That will not work over time. 2008....good news came out frequently even though it was a shit market. Market would move straight up and 100%+ retracements would occur almost all the time. I faded good news all the time during 2007/2008. 2009 rolls in and that stopped working. Had to start buying good news and buying bad news. See my point?
If drukes1234 is really consistently profitably via trading news flow...he's doing a lot more than that generic statement you quoted of him.
Besides, its really a matter of perspective about what's good and bad news especially when there's so many different available trading instruments that has correlated, none correlation or inverted correlation price actions as a reaction to news flow. What you consider to be bad news may be looked at by him as good news and vice versa. I say that because I've frequently seen other traders say they faded good news while other traders were saying it was bad news.
Thus, not worth debating if you two aren't trading exactly the same trading instrument at the same time.
