I was only commenting on the statement"Professional traders don't do prediction." Not any service or trade service.
Surely you don't believe that market news does not move the markets ? To be more specific, do you believe that news about oil has no impact on price movement of Light Crude or Brent when the news is released ? wrbtrader
One may argue that institutional trading firms these days mainly use predictive models and automated trading systems that dominate the markets these days. Yet, its still odd to see one of those firms talk about their forecasts on Bloomberg and then see a competing firm talk about their forecasts making the opposite predictions on CNBC. The good thing is that one will be right and earn the right to say "it works". wrbtrader
The price of all markets moves by supply and demand, the news can make that a lot of people buy or sell, but if, for example, just released news about China won't use more petroleum to make the chinese food (Jaja equisde) because they just researched another better way, but in the market, a group of investment funds buy all, the prices will rise.
The mind of each investor, the herd follows the news to trade, and the real traders looks the charts.
There's a difference between following the news to trade versus knowing what's causing the changes in supply/demand. If you do not know the difference between the two...you will eventually get lost. Simply, understanding and knowing the reasons for the change in suppy/demand does not imply you're following the herd nor imply you're trading the news. wrbtrader