Tonight I was watching TV while my wife was sleeping on the sofa and when I got up to get something to nibble on, the business news came on which flashed many breaking stories and business reports. While admittedly I stopped what I was doing to listen to what was being said, I soon realized it was mostly noise and wouldn't benefit me or my business in any way. Don't get me wrong, it may have a place for certain people in industry, but for me, a trend following trader, it would add noise and confusion to my life and that's not allowed. Lets be honest, all the news does is report on things that have already happened and/or consists of speculation on future trends, and are usually wrong. I quickly picked up the remote, and changed the channel.
As a technician and follower of the market, it's your duty to unemotionally take buy/sell signals, without bias. This is how you separate yourself from the average trader who typically falls apart taking long or short positions on oil, or the dollar, or the Dow Jones Industrial Average, simply because of the "fundamentals". Your job is to listen to the market itself, the price action, react swiftly, and monitor its progress. My advice is to not listen, read, or watch any piece of business news, hoping to gain insight on future investment decisions. Your charts are all the data you need in order to make good, valid decisions. At least then you will be basing them on actual market movement, happening at that moment in time, rather than projecting your preconceived beliefs on the market.
Be like the fly fisher who travels out into nature, where he/she can be alone, with their own thoughts, and simply listen and follow what nature itself is telling them. Be calm, relaxed, and breathe. Focus only on what you see and avoid the noise from others. That's your best chance for success in this business. Go catch those fish.
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