Don't read report or news or research.

1only

1only

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Someone just PM me ask me if he should read research from some.com. Well, I don't know you but my performance is way better after I stopped reading any research, reports and news release.

The only thing I want to know is when news will be released to avoid trading at that period. I don't understand these reports or news and I don't need to because I have my own opinions about the market.

Again, it's only me and I improve my trading so much after I stopped reading news, report and research.
 
It depends on your trading technique. To trade without regard for news is a bad idea. News is the primary means the insiders use to manipulate the outsiders. If you can correctly deduce why they release a particular piece of news, it gives you an advantage.
 
Insiders already act on the news before its released. Different theories regarding this. I agree with OP on the news bit.

Really depends on how your technique matches with it.
 
1only said:
Someone just PM me ask me if he should read research from some.com. Well, I don't know you but my performance is way better after I stopped reading any research, reports and news release.

The only thing I want to know is when news will be released to avoid trading at that period. I don't understand these reports or news and I don't need to because I have my own opinions about the market.

Again, it's only me and I improve my trading so much after I stopped reading news, report and research.
Click to expand...

I agree with that statement..........I never watch news anymore and only trade technical..........The news can spike things a bit, but it never changes the long term direction of the markets.........
 
One of the easy things I do for my forex trading improvement is stop reading news or analysis.

Actually, it's not very easy for me to stop reading news, reports and analysis at the first place. It took me very long time starting reducing my reading on reports and analysis. I was still reading news until 1 year ago. I found that I make huge improve on my Forex trading once I stopped reading them all.

Here is an example reading news did nothing but bad for my trading and it just happened today (Jun 29).

I started my trading on 10 AM EST and I do check the time when news is released to avoid trading at that period. When I was checking news time, I peep 'Pending home sales", which has high impact on the market from http://www.forexfactory.com/calendar.php. The news was way better than forecasting which should favor USD. Because the little read on the news, I went short on EURUSD at 1.4355 and got stopped out 25 minutes later for -15 pips. You can check my trade record here.

As you can see, the market does not follow the news and often fails to respond to some very important news or statement. If you understand that, why you want to read these news. However, you must know when the news will be released to avoid trading that period of time.

If you are a day trader, you may just want to see if stop reading news can help your trading.
 
If anyone was trading EUR/USD today and disregarded the news schedule, you would have been fu*ked multiple times.
 
My fcking algorithm got me short EURUSD just before Greece passed the austerity measures. Unimpressed cat was unimpressed.
 
Disregarding what's driving the market is a recipe for disaster. Sure you could catch a series of setups in a trend and feel like a top notch trader. With the fx market in particular, you can easily find yourself drawn into a series on losers from setups that would otherwise give profit because the market isn't supportive of that direction.
I am not advocating trying to research everything but you have to be aware of the general theme and data releases that can disguise bad trades as good ones. You will find a smoother growth curve if you operated in this fashion.
 
forker said:
Disregarding what's driving the market is a recipe for disaster. Sure you could catch a series of setups in a trend and feel like a top notch trader. With the fx market in particular, you can easily find yourself drawn into a series on losers from setups that would otherwise give profit because the market isn't supportive of that direction.
I am not advocating trying to research everything but you have to be aware of the general theme and data releases that can disguise bad trades as good ones. You will find a smoother growth curve if you operated in this fashion.
Click to expand...

The disaster will happen if I remove my 15 pips SL or trade without 100% discipline following my rules and plan including overtrading. But it's only for my trading style as day trader. I can't comment on other kind of trading and I believe your opinion will work very well for you.
 
I was about to short the EUR/NZD the other night. The chart screamed exactly where it wanted/ was likely to go. I then read a thread on T2W about it being best to be flat the Euro.

The result was I had my head turned, broke my trading rules ( trade the chart only ) and missed out on 6-8% for my account. Its cool though because im a noob and that mistake will not be made again.
 
Last edited:
YouAreNotFree said:
I was about to short the EUR/NZD the other night. The chart screamed exactly where it wanted/ was likely to go. I then read a thread here on T2W about it being best to be flat the Euro.

The result was I had my head turned, broke my trading rules ( trade the chart only ) and missed out on 6-8% for my account. It cool though because im a noob and that mistake will not be made again.
Click to expand...


The absolute worst thing you can do is to listen to things here and then act on them. Form your own opinions and just do not blindly believe what I or others say. :devilish:
 
You can chase everything for eternity and keep losing money. My advice is to develop a system that works for you. Everyone has "a feel for the markets" that is always improving if you keep educating yourself. In my opinion the worst thing you can do is chase the markets.........Build your own trading system and keep improving it and you will make money.............
 
forker said:
Disregarding what's driving the market is a recipe for disaster. Sure you could catch a series of setups in a trend and feel like a top notch trader. With the fx market in particular, you can easily find yourself drawn into a series on losers from setups that would otherwise give profit because the market isn't supportive of that direction.
I am not advocating trying to research everything but you have to be aware of the general theme and data releases that can disguise bad trades as good ones. You will find a smoother growth curve if you operated in this fashion.
Click to expand...

I learnt from a professional trader that the best thing to do with news is not to trade when something major is happening. The violent swing following will kill practically any trading technique.
 
I was short the Swissy this afternoon (on a 5m t/f) during the ISM.
Did I care? No. (As it happened I scratched the trade due to (over) cautious PA.)

If I did not scratch it I would have ended up with about x15 my target.

My moral of this storey is. - If my stop is in the right place for my normal set up and I let any news run any profit, then a failed trade has cost me no more than usual and a winner has run much further and the concept of letting winners run has done me proud.
 
Jason101 said:
I was short the Swissy this afternoon (on a 5m t/f) during the ISM.
Did I care? No. (As it happened I scratched the trade due to (over) cautious PA.)

If I did not scratch it I would have ended up with about x15 my target.

My moral of this storey is. - If my stop is in the right place for my normal set up and I let any news run any profit, then a failed trade has cost me no more than usual and a winner has run much further and the concept of letting winners run has done me proud.
Click to expand...

My thought to you Jason is primarily, why did you not care? Are you totally isolated from humanity? and losing money trading Forex does not matter to you............ If this is the case then please let me trade your money, and a percentage will go to the needy..... I can point you to many winners
 
JahDave said:
My thought to you Jason is primarily, why did you not care? Are you totally isolated from humanity? and losing money trading Forex does not matter to you............
Click to expand...

H Dave,

Thanks for your reply and concerned words. I am not sure why but I have only just seen it.

I think you must have misunderstood me. By a scratch trade I meant a break even trade. I lost no money on the trade. If I had lost I would have cared, but having said I do believe that you need to factor in a certain amount of loss into your plan and not worry too much if you lose within your expected parameters.

The x15 win was what would have happened if I had kept the trade open through the news.

I like very much your value on money; I wish everyone held your beliefs.

jahDave said:
If this is the case then please let me trade your money, and a percentage will go to the needy..... I can point you to many winners
Click to expand...

I am always wanting to learn more and would welcome any pointers/new ideas especially from someone who seems to be very confident in not losing and respects the value of money so much.

Kind Regards
Jason
 
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