awareness

[suggy]

hi all

just wondering, how much attention do u pay to current affairs?
trading from a dummy acount today i woulda got hammered because i thought the market would drop again. instead its increased significantly. do you ever let your expectations determine a trade (Im guessing no)? or do u completely detach yourself and only play the market as you see it? thanks in advance.

 

[Mr. Charts]

Never ever, unless you are trading index options and you have sufficient time to expiry for your expectations to occur.
Trade what you see, not what you think ought to happen.

 

[RogerM]

Suggy - if enough people expect something to happen, then the market will complete the move before the event - i.e. it has already discounted the expected move. And the corollary to that is that there will be events going on of which you will be unaware that will none-the-less be reflected in the prices.

For short term trading (i.e. few mins to few days) always trade what you see.

 

[TBS]

Never ever, unless you are trading index options and you have sufficient time to expiry for your expectations to occur.
Trade what you see, not what you think ought to happen .

Nail, head, hammer interface.

 

[TBS]

hi all

just wondering, how much attention do u pay to current affairs?
trading from a dummy acount today i woulda got hammered because i thought the market would drop again. instead its increased significantly. do you ever let your expectations determine a trade (Im guessing no)? or do u completely detach yourself and only play the market as you see it? thanks in advance.

What market and time frame are you looking at suggy?

e.g Ftse Futures today dropped something like 70 points during the morning, before a 60 point rise, 30 point drop, 70 point rise, 40 point drop, 70 point rise.......

 

[Helenqu]

just wondering, how much attention do u pay to current affairs?

Hi Suggy,

Well being careful about news cost me a lot of potential trades today

I decided (being an ultra cautious person) that with the war situation I was only going to take short trades Consequently not a very profitable day

Can't say I'm very inclined to long though as I expect the news shocks to be negative ones. I think you have decide what level of risk you are prepared to take. The less risk you take the less you make basically, and that risk tolerance will alter as you progress in your trading and according to how much capital you have.

 

[Skimbleshanks]

I never look or listen to the news while I am trading - I really don't care what is going on in the world.

Whatever happens in the news will be reflected within seconds on the charts and I respond to it then. If I stopped to find out what the news was, then try and interpret it, I am bound to take the wrong view and suffer a loss.

 

[ChartMan]

I agree, forget the news, in general. News about xyz's performance does affect the price ( ICI ). All this war stuff too, is undoubtedly affecting daytrading prices, you just have to be extra careful. If it goes against you right now, it's likely to be bigger than normal, either way. Stick rigidly to TA , support and resistance and you'll stay safe. DON'T try to second guess likely moves on news, you'll get eaten alive.

 

[suggy]

hmmm

thanks for your comments all i thought u would all say that. I guess its one of those discipline things not trying to second guess the market.

TBS I'm looking at FTSE and DJ cash charts for the moment, not streaming but real time. only trading a dummy account atm trying to get a feel for how the market moves. even when i do start trading properly I wouldnt have enough capital to support trading futures (and the likely losses I would rack up to start off with).

another lesson taken on board i feel

 

[oatman]

suggy,

Suggest you take a look at some MAs on a 1min.
It'll keep you interested without getting complicated.
I often use weighted 21 and 55 (Fib numbers) on 1min. Ftse future, but you need to experiment.

Be lucky,

 

[Les Carlin]

The news

I often find when i watch the news that i may or may not correctly interpret its effect on the market. So i decided to jack that in a while back. However what is useful is to take a few soundings from commentators who will give a general indication of what the news will do to the market direction. What i've gleaned re the war is anything that happens which is perceived to lengthen matters wiill depress the action and vice versa. However, at the end of the day it comes only to what people have already been saying:

Trade what you see. Everything else is put there to confuse you