Use of reading market news if you day trade?

[seeyouinNY]

I hear alot of day traders saying that they care little for what is happening on the market (i.e. they only care about the incremental blips and changes in their candlestick charts etc.)

I'm starting to agree with them.

What good is reading market news when you're trading on 1/10/15 minute increments?

 

[CanOz]

I hear alot of day traders saying that they care little for what is happening on the market (i.e. they only care about the incremental blips and changes in their candlestick charts etc.)

I'm starting to agree with them.

What good is reading market news when you're trading on 1/10/15 minute increments?

News is critical for people putting capital at risk several times per session.

You can learn about the current sentiment after econo news, strong markets ignore news, weak markets react to news...

You could be in a trade and then the market may do something out of chartacter, lots of times its a result of news.

Pull up a DOM, and watch how liquidity thins out around news. Watch how the market reacts after major econo news.

I can't see how an effective intra-day trader can function without a good news feeds...one like www.tradethenews.com

Used by prop traders around the globe!

I receive no benefit from TTN, just love the service.

CanOz

 

[tech/a]

When trading short term you can be trading news
But you won't be using news to trade ( well I don't )
I trade momentum which I can see in a chart in the
Timeframe I'm trading.
I don't believe you can trade in lower timeframes unless
You ave strong technical trading knowledge.

 

[skc]

When trading short term you can be trading news
But you won't be using news to trade ( well I don't )
I trade momentum which I can see in a chart in the
Timeframe I'm trading.
I don't believe you can trade in lower timeframes unless
You ave strong technical trading knowledge.

News and short timeframes are perfect together.

You make money by being the quickest to interpret the news.

Especially on smaller cap stocks that don't have a whole lot of followers.

The premise of course is to be able to not only interpret the news correctly, but pre-empt how others will interpret the news as well.

 

[tech/a]

The premise of course is to be able to not only interpret the news correctly, but pre-empt how others will interpret the news as well.

Two more reasons why I trade the chart.

 

[sinner]

I don't pay attention to the news re intraday trading, but I do find that trading is poor and I lose more when it's a slow news day.

 

[Trembling Hand]

Two more reasons why I trade the chart.

Tech from what i have seen your futs trading is around important changes in momentum. I'm not sure how often you trade but if you are in the market day in day out you soon learn to be following everything all the time.

You cannot trade futs, IMO, fulltime without having a good grasp of news, and eco ann (and expiry dates . You can go for months without it making much diff then all of a sudden the market is jumping at every news ann and putting evry trade offside. If you do it for your main income and don't have a good news flow you find you are the last one to know about an earth quake in Tokyo, or N.Korea letting poppers off or crappy China PMI etc etc.

 

[skc]

Two more reasons why I trade the chart.

Not sure what you mean by this. Is it because:

1. It is not possible to interpret the news (or people's reaction to such news) correctly?
2. It is not something you personally know how to do?
3. It is more efficient to just trade the chart?

Tech from what i have seen your futs trading is around important changes in momentum. I'm not sure how often you trade but if you are in the market day in day out you soon learn to be following everything all the time.

You cannot trade futs, IMO, fulltime without having a good grasp of news, and eco ann (and expiry dates . You can go for months without it making much diff then all of a sudden the market is jumping at every news ann and putting evry trade offside. If you do it for your main income and don't have a good news flow you find you are the last one to know about an earth quake in Tokyo, or N.Korea letting poppers off or crappy China PMI etc etc.

The minimum you need is to avoid scheduled news if you choose not to read any news. But you still can't get around the non-scheduled stuff (unless you have access to GOD's outlook calendar). You can trade the chart after the tsunami... but why wait to interpret how others interpret the news when you could have interpreted it yourself. The earlier you act, the better price you get.

 

[Trembling Hand]

unless you have access to GOD's outlook calendar.

I've seen an early version,

 

[CanOz]

I've seen an early version,



View attachment 52956

lol...Too funny

 

[skc]

I've seen an early version,

Lol. So we've proved that access to GOD's calendar does not give you an edge.