Dear brethren: Do you think that reading news is an integral part of successful trading? Have you ever experimented with a pure technical approach, i.e., no news at all? OPC
for pair trading, not knowing the news fast enough was a real detriment...till I spend some big $$ for premium news from different sources. I've been thinking of getting a Bloomberg terminal...any experience out there on Bloomberg news?
A trader told me he never let the news influence his trading... until the day he shorted Walmart.. the same day KMart filed Chapter 11... he said it was "painfull"...
Let's put it this way: it isn't so much the news per se that's important...it's the market's reaction to news. The market's reaction to news gives you trend confirmation. OldTrader
That's the way I had been using it, until my news source decided to raise the fees and provide only real time news. I feel I just don't need that. Technicals do a better work in analysing the short term picture. Does anyone know of a news provider, in a delayed basis, for market close reports of the major U.S. commodity markets? Thanks. OPC
Not only do I not read news, but I don't even look at the names of the companies I trade. Symbols only. I don't want to be biased.
Briefing.com is all I need for the past 10 yrs. Wait til everybody knows about the news, see how they react to it and sometimes I go along if I am early enough or fade it if I am late. But I think the trick is to make sure traders get shaken out of stops before u fade the fade.