Saturday, April 5, 2008

Trading With Conviction, Dealing With Distractions

OK, I know it is damn difficult to trade with an up bias these days with this entire media constantly projecting nothing but gloomy outlooks. Mentioned in about popular bearish sentiment”, by the time the uninformed crowd has mostly got on board with downside partiality, not much more selling pressure exists in the near term future.

Sticking to the Freaking Plan

My own strategy called for bullish trades this week, but I ended up making a lot less than I should have due to distractions from the media. Projections about the jobless report earlier today made it particularly scary. Yet if I had ignored it all and stuck to the plan, my return this week would have resulted at least twice as much.

Bad Economic Report, Up Stock Index

So we have a whole lot of people on the unemployment line according to the latest study, and the stock market rallied today. What does that mean? It means the financial media, underlying economic speculations don’t mean squat to profitable trading.

It’s time to wake up and pay attention only to liquidity and supply/demand, things that actually affect price moves. All this misinformation pumped by the media, or so-called experts, and trader-wannabes… they make me sick.

Ignore them, trade with confidence. (of course don’t forget your risk management, too, hahaha)

0 Reflections: