Do you follow a process when trading into a major event or play it by ear?
- Thread starter yan365
- Start date
Haven't had a case where technicals didn't work in the reaction.
Any effort I have made over the years to impose my opinions on my systems has resulted in failure. Wars, politics, disease, destruction. What, me worry? Just stay on course.
Hello yan365,
I am slave to price trading everyday. Price is master and I am a slave.
I don't think about events, whatever price do, I do.
In my personal opinion... data releases, news events, and economic reporting numbers....are all too much of a gamble to trade, manage and predict. It's either going to be a hit or miss process, up or down, win or lose.
A trader doing that...won't come out on top in the end. It's all very similar to playing blackjack, and expecting to magically come out on top in the end overall. You won't.
You should instead learn to observe, understand, and trade the harmonious, movement, wave chart line on a daily scale, or weekly scale or monthly scale or yearly scale. I prefer daily. What makes it dance and move, all its variables and elements. If you can establish that future frame work, and use that image to know when to buy and sell...you're golden.
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Personally, Never Trade Events. Always wait for the initial reaction and then the reaction, then assess. There are too many big players making plays or unwinding plays that it is like triple blind guessing. Trade what you see and you see better when things are not working out cross big currents.
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THAT, generally speaking;
mostly in major long term trend /down this year . Lightened up + cut on last bear rally; so its mostly a process, but some play by sight, since trends are some risk , but not predictions.......
I used to gamble @ pool ; risks in markets are not a gamble @ all.