ES Journal - 2019/2020

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IamTheCasino said:
You shouldnt, but a lot do. I was watching the charts when that big downtrend happened after Trump announced he had COVID. However, at the time I had no clue about the news and was just watching based on price action.

News/earnings and whatever else is normally factored into the price before anything ever comes out. By the time news has reached the masses its already been implemented into the price.
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Right, I agree and understand. My intent in my entire post was just to better understand what benefit or advantage people do have or think they are getting from adding in news and political takes and opinions in their trading. I wasn't expecting any good or relevant answers, but can't hurt to ask / clarify.
 
trdes said:
Since this is your thread just want to ask do you have any issues with me discussing NQ here as I have been?
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I don't see why there should be....this should really be renamed the E-Mini journal as ES, NQ, RTY, and CL are all great for trading.
 
Buy1Sell2 said:
I expect the market to be green by day's end. I anticipate that as long as The President recovers in the next couple of weeks, and I suspect he will, that this will be a major positive for the country and Trump/Pence going forward.
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trdes said:
Right, I agree and understand. My intent in my entire post was just to better understand what benefit or advantage people do have or think they are getting from adding in news and political takes and opinions in their trading. I wasn't expecting any good or relevant answers, but can't hurt to ask / clarify.
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I assess news depending on how unexpected it is, how significant its impact, and whether the event has a defined outcome.

I believe when the big professionals are surprised, little traders like myself have a short term advantage while they adjust.
 
I agree. I can't imagine anyone trading this way (or thinking this way) is truly an elite trader. You can use news from the standpoint of assessing the market's reaction to the news as having relevance but not the news itself.

trdes said:
I don't understand all this political talk, I mean are you really taking trades based on this information and if so how do you derive any type of consistent and constant measurable advantage from looking / trading the news?

I just don't personally see it that way, I mean we were already discussing yesterday how the larger charts were in a difficult position to have sustained up moves, so looking for news to justify a down move, doesn't serve much purpose particularly for day trading.

If you're a longer term investor, I could see factoring in the news and adjusting your holdings would make a little more sense, but even than it can become difficult.
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BeautifulStranger said:
I assess news depending on how unexpected it is, how significant its impact, and whether the event has a defined outcome.

I believe when the big professionals are surprised, little traders like myself have a short term advantage while they adjust.
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That's reasonable, thanks for the reply.
 
trdes said:
Looks like I missed a good day to trade. I don't understand all this political talk, I mean are you really taking trades based on this information and if so how do you derive any type of consistent and constant measurable advantage from looking / trading the news?

I just don't personally see it that way, I mean we were already discussing yesterday how the larger charts were in a difficult position to have sustained up moves, so looking for news to justify a down move, doesn't serve much purpose particularly for day trading.

If you're a longer term investor, I could see factoring in the news and adjusting your holdings would make a little more sense, but even than it can become difficult.
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Just because the news and the political situation (which should affect market action) is discussed doesn't mean people actually trade on that information. I certainly don't. Generally, for my day trades, I keep thing technical and aim to capture the better part of 10-20 point swings these days. The larger trend does not factor into this.

But for the big picture and where we're moving in the next weeks or months - news and other conditions should matter.

A general problem when the market moves on news is that it's hard to really know if the market would have gone that way anyway (and maybe the news merely amplified the move). So in the end, as a trader it's best to keep things technical and try to be aware of at least the scheduled news releases.

Right now, the current volatility (uncertainty) have to be associated with the upcoming presidental election in the US. So, news are definitely relevant.
 
Cast your votes for the week (s) ahead:

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