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Don't Trade With Your Head Stuck in the Sand

18 Years ago | May 08, 2014 10/1/22, 12:00 AM

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For those who read our monthly newsletter and for those who didn’t, suggest giving it another look as the title, C’mon ECB, Send Us a Signal proved to be a good one given the events of today. It wasn’t the exact signal I was looking for but I am sure the value of the EUR was taken into consideration when the ECB discussed whether it should ease policy at the June meeting. Draghi hinted of this in his press conference and this saw the EURUSD, which was poised just below 1.40, to reverse course and fall sharply. In any case, our newsletter turned out to be a good one as Draghi gave a signal and the market reacted.

I have also written several articles on why news matters. The latest one published this week, Ask Your Advocate: Like it or Not, News Matters, turned out to be a timely one as can be seen in the way the market reacted to Draghi’s press conference comment (see above). In the article, I wrote:

There is an old adage in the trading world that the reaction to news is more important than the news itself.

Trading is like a puzzle and the more pieces you can find the clearer the picture will be. Markets move on surprise (e.g. when an economic report comes in above or below the consensus forecast) but it is the reaction that gives you a clue.

The point I am trying to make is that one goal of the Global Traders Association is to inform as we believe knowledge is power. We are bringing our decades of experience to give insights you might not find elsewhere. We hope you are enjoying our articles and finding them useful as the two I highlighted above proved to be not only timely, but valuable for trading.

Note, we will soon be adding the ability comment in our blog so stay tuned.

Jay Meisler, founder

Global Traders Association

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