Is news necessary to trading?

[harrytrader]

Indeed I find it's more a good idea to write this novel "Trading in a Mirror". If ever I do it, it will be in french rather then I will look for a translator
http://www.elitetrader.com/vb/showthread.php?s=&threadid=22531

Quote from OddTrader:

Q

Neal: If it looks like a duck, walks like a duck, and quacks like a duck,it must be a chicken. Is that what you're saying?

Doug: How many times have you told that a piece of news is bullish, only to find a few weeks later that the same news is now bearish. Welcome to the world of smoke and mirrors. ... ... ...

--- Trading Chicago Style (by Neal Weintraub)

UQ

 

[Cheese]

"After all, if you look hard enough you can find plenty of good or bad news just about every day." Steve46

Amen.

News rationales are mostly just ways to describe the gyrations and varied directions of the markets. News most times fills what otherwise would be a huge vacuum.

Saw on TV the other week a programme about stress. It included a young prop trader who waited at his screen for some major news item. He had no plan, no clue .. by the way he spoke he had zilch trading knowledge. To cut this story short he made some money and then jacked it and more away in the last half of the day at the end of the week. Prognosis on this guy: beyond hope or any realization about this game.