You are listening to financial networks while trading? You should not & t;

In my trading floor has a policy of open mic, which allows participants to trade hall to interact with me at the time of the trading session in cash. Unusually talk to member number and hear a financial network that blared in the background. I believe that the trade while listening to the financial news can really harm your trading success. Usually these networks are preparing people to assess current market conditions and predict various aspects of trade and investment.

But there is clearly a problem with getting trade information from the network. They all have an agenda that you can or can not be supplemented. In addition to the agenda, which is usually based on political affiliation, who grow the network, many of these guys are simply speculating on the possible outcome of the daily market activity. What good is that?

To be a profitable trader, it is important that you make your own chart analysis and initiated trading on the basis of this analysis. In the short term, only the analysis with charts & # 39 is an acceptable method of trading with dashes indicators in real time. There is no doubt that television "talking head" can predict short-term price movements.

Today was a perfect example of why your analysis is much more valuable than the think tanks, selling network. I often listen to one or more financial networks before they start trading, because I was interested in the problems with the shares, which affect the NASDAQ. Among this morning debate among the general considerations was a general consensus that the NQ is going to make a new high in the morning session.

Guess what? Morning NQ share was down, not up. The market did not make the slightest attempt to rally, but remained in the humiliating condition of continuing and spent a lot of time testing new lows. So much for the prediction of television. Usually this is just a general assumption, which often coincide with the problems of stocks in the portfolio of speakers. Even worse, there is a good chance that it can be a simple assumption that could It happens.

Another fine example of the misinformation these "talking heads" – is peradpraduktsyynyya predictions based on the direction of F & # 39; yuchersav overnight. In my experience, as prices for f & # 39; yuchersy reduced during the night, only shows little correlation with the fact that the planned cash traders session for that day. So next year hear that "the effect of the price f & # 39; yuchersav at night means that the market will go down," you can usually reject the information as nonsense. Traders overnight and traders cash session – they are two different groups and often have different objectives and motives.

Thus, I listen to music or just enjoy the silence when I trade and send the advice given by "experts" can make you (or I) is directed bias. Day, if you have a preconceived dubious distinction – is a recipe for commercial disaster. Do yourself a favor and refrain from "experts" and take their own trading decisions based on what you see what develops on the chart.

Source by David S. Adams