For as long as I’ve traded and especially since it became my living, others have told me the things and times that I must trade. Today’s fomc release for instance. You have to trade it or you’re not really a trader. You can’t trade it. Pros don’t trade then. Yep, each one of those things I have been told. Trade NFP. Don’t trade it. Fool’s game. You can add the open,the close as well as early morning and overnight. They are all things that supposedly you a there must participate in or should never even think of doing. Hmmm, so many opinions and voices!
Many of the people who have told me these things were pro traders. A much larger number were not. Some were hobbyists and many I think had likely never hit a bid. Never! Yet they all gave me their advice. Sometimes loudly and vehemently. Did I appreciate their advice? Of course I did. I also did not. Huh? Let me explain.
Ever person processes information differently and at different speeds. That will affect the way you trade and often the things you trade. That doesn’t make you good or bad. Its just how it is. That also changes,as does the market and the data produced. I personally would never want to miss fomc or NFP data hitting. I love trading in that environment. Big news. Data hitting hard. It is where I am comfortable and where I tend to do well. You don’t? Oh no, you’ll never make it! Wrong, wrong,wrong. That has nothing to do with success.
If you have a space or style that is working for you then never let anybody force you off of it. Don’t be made to feel like it makes you not a trader or not successful. What works for you is what is important. Its your job and your money. Work your plan if it is working. Let everybody else argue about what you should be doing. Just do your job.
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Be nimble. Be aware. Enjoy what you do.
#fomc #trading#advice
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