do you watch the news while you trade?

To go 100% mechanical to keep emotion out of it.

Another fallacy. If you lose $1,000.oo today from a purely mechanical trade how is that different than losing $1,000.oo from a discretionary trade?

The stomach will churn just as much, probably enen more because now aside from the money lose you will get upset with the system, Right?

.........:eek: :(

PS, any opinion will cloud your trading. The talking heads on CNBC etc are salesman/saleswomen, the guests are there to SELL you their products. There is no such thing these days as unbiased information from the tube, it is infotainment or flat out sales pitches. Like whats his name; Ned Reiley i think, what a turkey, he is trying to compete with that other bullish bs'er, Joe Battailigia, something like that. anyone that listens to the dribble from these salesman deserve to lose their money. If you have "ANY" opinion in trading you will lose, you sit there in disbelief as the mkt takes your money and you are mistified...
 
Quote from polpolik:
I neither watch nor read anything during the trading day. It serves to confuse me when I read or hear about stuff which could sway my decisions. At the end of the day, I'll look to see what's gonna happen tomorrow but that's pretty much it.

Well, except when there's FOMC meetings or any major stuff like terrorist attacks. But in general, they're not good for a technical trader.
More...
Generally agree with your approach on news.
The 10am major economic news items I take account of but only as a distortion to the predicted days pattern (eg YM). FOMC too tends to make price swing big in the direction of the predicted pattern.

As you say keep it technical.
:)
 
PS, any opinion will cloud your trading. The talking heads on CNBC etc are salesman/saleswomen, the guests are there to SELL you their products. There is no such thing these days as unbiased information from the tube, it is infotainment or flat out sales pitches. Like whats his name; Ned Reiley i think, what a turkey, he is trying to compete with that other bullish bs'er, Joe Battailigia, something like that. anyone that listens to the dribble from these salesman deserve to lose their money. If you have "ANY" opinion in trading you will lose, you sit there in disbelief as the mkt takes your money and you are mistified...


ther truest words I have heard in a long time. Spoken, I am sure by someone who has paid a lot to learn this
 
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