Are You Listening To Television Analysts on Popular Programs During Your E-Mini Trading?
My ultra-small trading room has a feature that allows everyone to speak and add input during the times I am e-mini trading.
Sometimes individuals forget to mute their microphones while in the room and I can hear what is going on in their homes as they trade.
It's not unusual to hear business and investing shows blaring in the background.
Whether you are conscious of it or not, these television shows can easily influence your trading decisions in a negative way, and I highly suggest that you opt for some unobtrusive music or silence during your e-mini trading.
Television shows are almost always biased to the long or short side and their interviews can be misleading, especially if you are an e-mini scalper.
This is a distraction you do not need to endure.
Most of these shows trot out a parade of hedge fund managers and financial "experts" to give you advice on which direction the market is likely to move.
Needless to say, very few, if any, of these interviewers are e-mini scalpers so their advice generally ranges from completely useless to downright distracting.
Your goal, as a trader should be to trade the chart in front of you and not let any distractions deter you from that goal.
It is easier said than done, but I have watched traders make ill-advised decisions based upon what they have heard on the television.
"So what should I listen to?" you ask.
Who said you need to listen to anything? I personally prefer to trade in silence and follow the price movement bar-by-bar.
I am always asking myself the meaning of each bar, with the help of an order flow program.
Is the market beginning to trade higher? Lower? The subtle changes in order flow can give you key insights in what the market is actually doing.
I try not to listen to anything that would distract me from concentrating on the tools available for my analysis.
More importantly, I don't want someone else's opinion to cloud my judgment.
In any multiple guest interview there may be panel members that are very bullish on the market and spell out a variety of factors on which to justify their prognostication, and there may be a panel member who is very bearish about the investment environment and can make a very cogent argument for his/her point of view.
There are also panel member who don't have a clue as to what is going on in the markets.
In short, business television programs can deeply influence your trading and I highly recommend avoiding them altogether.
Your trading depends on your interpretation of the chart in front of you, and listening to a barrage of differing opinions is not the best way to succeed in e-mini trading.
As always, I wish you the best in your trading
Sometimes individuals forget to mute their microphones while in the room and I can hear what is going on in their homes as they trade.
It's not unusual to hear business and investing shows blaring in the background.
Whether you are conscious of it or not, these television shows can easily influence your trading decisions in a negative way, and I highly suggest that you opt for some unobtrusive music or silence during your e-mini trading.
Television shows are almost always biased to the long or short side and their interviews can be misleading, especially if you are an e-mini scalper.
This is a distraction you do not need to endure.
Most of these shows trot out a parade of hedge fund managers and financial "experts" to give you advice on which direction the market is likely to move.
Needless to say, very few, if any, of these interviewers are e-mini scalpers so their advice generally ranges from completely useless to downright distracting.
Your goal, as a trader should be to trade the chart in front of you and not let any distractions deter you from that goal.
It is easier said than done, but I have watched traders make ill-advised decisions based upon what they have heard on the television.
"So what should I listen to?" you ask.
Who said you need to listen to anything? I personally prefer to trade in silence and follow the price movement bar-by-bar.
I am always asking myself the meaning of each bar, with the help of an order flow program.
Is the market beginning to trade higher? Lower? The subtle changes in order flow can give you key insights in what the market is actually doing.
I try not to listen to anything that would distract me from concentrating on the tools available for my analysis.
More importantly, I don't want someone else's opinion to cloud my judgment.
In any multiple guest interview there may be panel members that are very bullish on the market and spell out a variety of factors on which to justify their prognostication, and there may be a panel member who is very bearish about the investment environment and can make a very cogent argument for his/her point of view.
There are also panel member who don't have a clue as to what is going on in the markets.
In short, business television programs can deeply influence your trading and I highly recommend avoiding them altogether.
Your trading depends on your interpretation of the chart in front of you, and listening to a barrage of differing opinions is not the best way to succeed in e-mini trading.
As always, I wish you the best in your trading
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