Post
Topic
Board Trading Discussion
Re: Election results and trading
by
DevilSlayer
on 03/11/2020, 11:03:01 UTC
I may stop all my trading activity from tomorrow for a couple of days because it's getting too risky... What do you think?
Actually might stopped as well. Its gonna be a lot of social tweets and tweaks that could affect the market with this election period.
My best advice is to AVOID SOCIAL MEDIA.
It is really expected that we will see a huge wave of topics/dramas about the US election this time. Social media in trading may lot of effects on trading especially if you are using fundamental analysis.
But for me, there are a lot of negative effects of social media this time like fake news, a lot of speculations and you may disagree with it.
I rather keep watching different charts since it may help me to get a good entry for my trade.
I also do not have care any news, disclosure and anything that can affect my further decisions, I think it is really depend on what type of trader are you. I'm a pure technical analysis trader so I really avoid those news and articles in the internet. My decisions in trading are also depends on the price action and in the market structure of the chart, I will not buy or I will not sell my positions as long as there is not trigger in my plan. I will only sell my position if my target price hit or my cut loss price hit. I will not sell my position by just hearing or seeing any news about the last election day for tomorrow. But for those who are fundamental analyst out there, you can use any strategy as long as you will able to gain profit and not incur huge losses. There is a lot of news and opinions around the internet and it can create hype that can affect your plan and decisions so it is better if we will stay away with it.