YM Traders

Porgie..

See.. you say news doesn't matter.. But, you have to know what kind of news matters right now. A year of two ago, the Motor Vehicle Sales #ers wouldn'tve meant much. But, the world has changed.

Motor Vehicle Sales #ers are going to be coming out today at the close. Looks like the higher gas prices haven't taken a toll on motor sales, and most likely the number is going to be higher than whats expected. Thats why we are up today, and threatening yesterday's highs.
 
rip,

i don' tdisagree with anything u said.........but as an intraday trader who has signals that tell me when it is going up and down and sideways, the news is still of no importance to me in that realm. But still very important.......just trading the effect as they cause the market reaction..........in other words I let the signals tell me what to do..........hav e a grea t one
 
Porgie..

I am not saying you need news when you trade 1 contract.. but, if you aspire for something more.. Then you have to start laying out your foundation. And news must be an integral part of it. Thats all I'm saying.
 
ripley,

News is a big trap for intraday traders.......a real distraction...........nothing personal just proven too many times........multiple contracts are traded with exit strategy as price moves the same as 1 contract.........happy trading
 
Quote from porgie:

...News is a big trap for intraday traders...
More...
Do you completely ignore major economic reports that are released during trading hours? Will you carry a position into an FOMC announcement?
 
a large position becomes a small position quickly.........scaling out ........very rigid exit rules.......and breakeven.....rule.......
 
at a minimum it is good to know when the news reports are, etc. so you can decide NOT to be in the market because that immediate impact can totally invalidate any other signal you are using. if you are scalp shorting YM because of xyz reason (tick hook combined with fib resistance and some tape reading weakness) and some report comes out 30 second later and the dow reverse and rams right thru yer stop - well if you had known the report came out @ 10, that could tell you to stay out and wait till the reacion.

we all know that what matters is not the news, but HOW the news affects the market, and since the market is a derivative (traders trade based on "how will other traders THINK this affects other traders" - think about it), it is very difficult (but not impossible) to be good @ predicting how the market will respond to X, before they do, or even moreso what the news result will be before it comes out

i have, on occasion took an edumacated :) prediction as to a news result (i did with a court decision before it came out once that affected YM and MRK because i have a lot of experience in civil law), but the more prudent course the vast majority of time is to play the tape. wait for the reaction to the news, judge the waves of reaction, and play it accordingly

imo

or you can choose to sit out the period immediately around scheduled news, and wait for equilibrium to reassert itself

since we, as traders, benefit from disequilibrium though (*that is what moves prices - disequilibrium between supply and demand), playing the news is a way to make money

but it's tricky no doubt
 
I will always agree with the above....i use a system probably very different than typically seen by public............might be a terrible system for most or all........but I am not aware of news except fomc announcements.......otherwise, am able to trade trouble free without news awareness..........today was an example of nasty beginning, nice run to the upside, narrow range whipsaw for hours.......but all tradable.........many signals today.......being concerned about news announcements for intraday trader emini leads to mind bias.......big trap........i simply take the signals........not new stuff ...........happy rtrading
 
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