There's A Sect Of Successful Traders Who Couldn't Care Less What Bernanke Says, Or About News At All

Naturally, when markets go up or down, people look for cause and effect.  We went up because of X, or we went down because of Y.  The market liked this or it did not like that.

But in many cases (and I would argue, in most cases), PRICE is the cause.  More transactions occur because the price changed than because the news changed.  We can rationalize and reason and assess all we want.  When we actually push buy or sell, we care most about PRICE.  Because whatever our reasoning, at the end of the day, month, or year, the only reason we are successful is because of PRICE.  Not because of the reasoning.  Not because of the news.  Not because of Ben Bernanke, or Mario Draghi, or Shinzo Abe.  Because of PRICE.

That’s why there are successful traders who don’t even pay attention to the news.  They don’t care about the why of PRICE.  They only care about PRICE.  And they react accordingly.



Read more:
http://www.businessinsider.com/only-price-matters-in-trading-2013-6