You transact in PRICE. It's all you need to know. Though it's easier said than done due to headfakes and alibis (news).
Once you start asking yourself questions why market did such and such, you join the club of "Financial analysts". The problem with Financial Analysts is they tell opinions. Opinions are free and plentiful. Everyone has their own.
this is very true. the work is best done without wondering where it come from or where it's heading to but the hear and now. but the idea that news is explainatory instead of predictive is new...and seems valid
The market is going where its going and wars, recessions, presidential scandals, terrorism, geo- political intrigue, currency devaluations and the latest political controversy merely provide a few entertaining blips along the way. ps Don't tell that to CNBC. They market in the blips. JMO
"Tiger got to hunt, bird got to fly; Man got to sit and wonder, 'Why, why, why?' Tiger got to sleep, bird got to land; Man got to tell himself he understand." from Cat's Cradle by Kurt Vonnegut Trader's often need to have an answer, even a wrong answer to be able to put their mind at rest.
at first read I almost thought you meant tiger as in Tiger Woods I'm curious, so if you guys don't base on the media news or inhouse economics, what do you take as indicator(s) for a day work, monthly plan, yearly strategy, etc ? For me day work is reactive to market irrational movement. Economist reports come in handy for monthly or longer plan. Some do get it right often, especially Re reserve bank rates movement or industrial growth/decline
Why do we need to know why? Because we like to think we have some modicum of control. We dont want to accept that MASS media is for the MASSES,of which we all are. Which means that you are not going to find anything out from anything you see, hear or read in any publication. You will find out about the decisions made after they are in place. You will not be privy to the individuals who made them or the process that they engaged in. What a frightening concept it must be to truly realize that you are just along for the ride. But when you accept that, you will be a better trader. That is the beauty of TA, it shows, if you are astute, where the ride is going in a timely manner. That is all one really needs to know. The rest of needing to know why is a function of boredom. We dont have to hunt or harvest our food, nor do we need to hide from predators. Not so long ago, having a full stomach was a thrilling thing. Now, we have to bungie jump, or jump out of airplanes, or get a thousand piercings, or sleep with a stranger on a whim to feel something. Traders, abandon hope all ye who enter here. Just react.