Hello, I am relatively new to trading, and one thing that I have noticed is that information is gold when it comes to determining investment strategies or an insight into a particular market. But there are so many Information sources both physical (Newspapers, magazine) and Electronic (Websites, Forums) that one can easily lose sight of what is important to focus on. My question is â What information sources do you rely on, on a daily basis? (I am in the UK by the way) Thanks for reading.
I unplug my television, avoid reading newspapers or magazines. I do not recall making money by watching the news. I do recall buying Yahoo stock a week after it went public, holding for about 2 1/2 years and selling for a big capital gain. And all I did was ignore the news.
Reading headlines or watching CNBC and trying to gain an edge over the market is how amateurs manage to consistently lose money.
Price, volume, support/resistance and trend lines. I look at earnings.com and yahoo finance for earnings news for my options trading and forexfactory for my forex trading. That's it. Turn off the boob tube, it's pure drivel. I don't understand these guys here who watch CNBC all day while trading and then come here posting diatribes about it. It's just a distraction.