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januson

Discard News and Futures

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Hello...

 

In my constant search for the perfect trade I've tried to eliminate external noise as much as possible. It started with total elimination for diverse recommendations for price targets, you know.. strong buy, conviction lists etc., then I eliminated all financial expectations etc. Of cause things like cnbc.com-videos etc. are banned in the trading hours. I often amuse myself watching Cramer and so forth, but only in my sparetime.

 

Well.... I live in Denmark CET+1, the US markets open 1.5 hours before our exchange closes Nordic - OMX; Sweden, Norway, Denmark.

In the tradinghours I've a suspicion that the market follow the US futures very closely, in particular NQ fut and S&P fut. I'm not sure if that's their real names?

However.. for each little upstep or downstep it looks like we follow them, for instance.. in the morning 09:00 our time (your time must be 3am) if the futures are negative then.. uhhh... we open lower and vice versa.

 

I'm thinking of eliminating every external noise, so the futures must go down the drain also. And so must some of the other indexes also i.e. Swedish Index.

 

Anybody else in out there, who only concentrate about the trade, the whole trade and nothing but the trade. And ignore / close out everything else?

 

 

BTW... I rarely hold my positions overnight.

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I ignore pretty much everything except what's on the economic calendar for crucial hours to watch during the trading day.

 

I still listen to the news to have an idea of what's causing the markets to move. However, I don't base my trading on that. I mostly look at market internals and previous key levels for S/R areas. Tape + Volume + Price and market internals is all I really need to succeed.

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Anybody else in out there, who only concentrate about the trade, the whole trade and nothing but the trade. And ignore / close out everything else?

That is EXACTLY what I do. I day trade the ES/YM and with my strategy the charts tell me everything I need to know. I don't watch or listen to anything market related while trading. As for news announcements, I write down the time and possible importance of the event before I start trading. This is only so I know when to expect higher volume and volatility so I can manage my trades (or stand aside) accordingly. The numbers themselves mean nothing to my strategy. If there is a huge unexpected move I may or may not turn on the news (would have to be really big). I do know people who are successful trading market correlations, but for me if I have a chart open I plan on trading it.

 

My advice: Try it and if it helps...continue, if it doesn't...don't. :)

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that is called infomation overload,he says up ,she says down, u r right,just read the charts,i dont trade from 11-1 bcuz it always gets me except on trend days

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Okay....

 

I've now tried this approach for 2 days and I feel more relaxed when I'm in a trade. I've now eliminated everything except the index for OMXC20 which is the major index for 20 of the biggest stocks at Copenhagen Stock Exchange. I use it just as an overall market sentiment - hopefully I can get rid of that in the future, :o

 

Hlm-> Yes that's exactly my point... The charts tell me everything, price action and volume. No fuzz... :cool: just the real thing.

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Welcome to real trading, the only thing in front of you is the truth, everything else is just noise to distract from making the right trade. If you haven't been to LV (Las Vegas), they'll pour you as much cocktails and alcohol as possible, just another way to loosen your pockets (discipline) and get a bit reckless. Same old game.

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