Quote from: HarmonyA on January 07, 2020, 11:51:48 PM

Quote from: makenoise on September 20, 2018, 02:54:03 AM

It is easy to get stucked in this trap when you read a particular economic news and tell yourself that it seems likely to make the market go in a certain direction. Once you convinced yourself that what you expect to happen is basically you digging for your account. In the early years of trading, many traders were stuck in the trap of trading in news and focused too much on fundamental analysis.
Trying to find out what the market is going to act next after the major economic reports are published appears to be obvious and useful to a trader at the time. However, you may be surprised to learn that the trader focuses too much on news that is losing money as prices tend to move in the opposite direction from what the news reflects.

Trading by the news is for novices. Professional traders follows market trends and apply the necessary approaches to trade profitability.

And these novices drop the price when they hear the news and then say that they were correct and the news dropped the price and they reduced their lose if they will not follow the news and will just hold according to the chart then they will not face any lose because after the news and their dump the price again start to rise and they miss the price on which they sold and then they buy again at a higher price.