I trade futures and not stocks, and for me, not being aware of key economic reports, or some of the news that may occur during the day can both 'blind side' me on a trade I; as well, there are a number of times that there is a setup into news, or a news reaction that is tradeable.
The biggest reaction I have ever been a part of was 9-11 and watching cnbc when the first tower was hit. I suppose that could have been some kind of pilot/plane malfunction, but when that 2nd tower was hit I felt that it had to be intentional and trying a short was worth risking for a fixed stop amount. In later days, anytime you would hear the work anthrax and pushed the short short button you would get a profitable trade. Then I remember a day when a building was hit in Italy and it was assumed to be terrorist activity; as soon as the news confirmed that there was no terrorsit activity I went long against the reaction; there was a similiar situation somewhat recently from the Eiffel tower fire, and a number of profitable buys from saddam news.
Regardless of whether any of these trades were attempted, it still would have been beneficial knowing the news ahead of trying a 'next' trade. Granted these kind of things don't happen every day, nor would any of these be method-based trades, but this is a response to 'watching cnbc' and knowing what is happening during the trading day.
The biggest reaction I have ever been a part of was 9-11 and watching cnbc when the first tower was hit. I suppose that could have been some kind of pilot/plane malfunction, but when that 2nd tower was hit I felt that it had to be intentional and trying a short was worth risking for a fixed stop amount. In later days, anytime you would hear the work anthrax and pushed the short short button you would get a profitable trade. Then I remember a day when a building was hit in Italy and it was assumed to be terrorist activity; as soon as the news confirmed that there was no terrorsit activity I went long against the reaction; there was a similiar situation somewhat recently from the Eiffel tower fire, and a number of profitable buys from saddam news.
Regardless of whether any of these trades were attempted, it still would have been beneficial knowing the news ahead of trying a 'next' trade. Granted these kind of things don't happen every day, nor would any of these be method-based trades, but this is a response to 'watching cnbc' and knowing what is happening during the trading day.
. Another one who worked for an important national radio as information speaker specialised in Finance was very honest guy and he said he regrets that he had in fact no economical education and that it was the case of many - he almost intended to say that it was on purpose that TVs and radios put ignorant journalists at these kind of jobs 