How following NEWS can Bust your Trading Account
In Continuation with Previous Article Are you a "News" Based Trader or Price action Based ?
With the Drama over Fed Rate Hike coming in next few days most of Traders will become obsessed with news events. They get sucked into a ‘black hole’ of staring at economic news calendars from their broker or elsewhere and trying to ‘figure out’ what might happen as a result of them, this is a horrible place to be mentally and it’s very bad for your trading.
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With the Drama over Fed Rate Hike coming in next few days most of Traders will become obsessed with news events. They get sucked into a ‘black hole’ of staring at economic news calendars from their broker or elsewhere and trying to ‘figure out’ what might happen as a result of them, this is a horrible place to be mentally and it’s very bad for your trading.
Once you convince yourself that XYZ is ‘going to happen’ based on a certain upcoming news announcement, you have set yourself up for the destruction of your trading account. All logic and objectivity goes out the window when you think you know ‘for sure’ what the market is going to do at some point in the future.The main key to trading success, is remembering that
posted by Bramesh at
3:47 PM
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