So from my survey, it looks like less than 1/3 of you use news events to trade. Considering 75% of traders don't make money, this is good news.
https://finance.yahoo.com/calendar/economic/ Here's a free economic calendar for you to use. So from this information, if you did not get stopped out or hit target on your trade, you would want to get out before 5:40 AM EST.
For EVENTS, you want to do one of the following: 1) Close any trade before they occur. 2) Use a hedge to trade them with limit orders. 3) Trade after you get the results and use PA for entries and exits.
28.6 + 21.4 is NOT less than one third. Also 90%+ is closer to percentage of unprofitable traders. But we trade the market, not each other so why be concerned with it?
I am talking about the yes votes, you are including the sometimes. I think your % may be too high for those that put in 10,000 hours and keep working at it for many years. If it includes everyone that opens a retail account with no skills or knowledge, you may be right. Also, some traders here do help each other if you are nice. NoDoji gave me a trade setup. I read Brook''s PA book, and found 1 setup in 400 pages. Please don't correct me if it's say only 300 pages. LOL. Also, don't trade or get out if you see his barb wire pattern.
Well, finally was able to grow some balls and do a swing trade without killing trade when I was 2 points into profit. Actually 1st trade was like that, then instead of stopping for the day, I did the swing trade. I did kill the trade a bit before target but that was because I checked and price was starting to go against me. I was able to just not look at the chart for 30 min and do something else, and then finally looked at it. The 1st trade was more with trend but was way too far away from a good stop placement so I don't have a problem with killing it a bit early. 2nd trade I was able to use a wide stop but one that would not blow up my account if I was wrong.
US crude prices tumble as world’s largest oil ETF cuts stake "US oil prices fell sharply on Monday after the world’s largest oil-backed exchange traded fund began offloading all its short term contracts on fears of another plunge into negative territory." https://www.ft.com/content/a8a7dc16-1a9a-48f9-9bfa-89269f94218a
So after watching CNBC last night about how front end contract for oil might be weak due to not being able find more storage for oil, my bias was to short the market. I also found the above news report backing up my bearish view. So on market open at 3 pm PST, I sold one contract and added another close to 1st Resistance as trade went against me. Resistance is marked as R on chart with support marketed as S. I do use stops and targets but they are automated. So then I went for a walk. When I came back my 1st target of BE was hit. I left the original target of 1st contract alone which was then also hit. The main goal of this trade is not to blow up my account, so while I would have taken a bigger loss if both contracts got stopped out, I had the following strategy when I entered the 2nd contract. The main goal was to be able to at least get out at BE for one of the contracts. This way even if oil decided to defy gravity, I would only take a loss on 1 contract. So we are either in a trend, a range, or random movement. If the trend is down or we in a range, I should have been able to hit my target which I did. Obviously, it's better if you can determine that price is not going to keep trending up. However, that is why it's good to use stops or hedge with options since no one has a 100% win ratio. By leaving the original target alone, I can make a good profit on the trade. We don't want to risk $ dollars to make $ pennies on our trades.
Used car prices might be falling soon. So if you need a car, the trade may be to time an entry to buy one soon. Then you will get more value out of it if prices rebound.