I like the way you think and analyse. Always think from the perspective of those who controls the media and the big boys. I recall reading many many rumors, like something is going on in company ABC which will cause the price to appreciate/depreciate, and the company's spokesman will deny the rumors. Only later after the price has moved significantly they will admit the rumors were true.
This is business, not a research project. In business, success comes in terms of profit - gains v's cost. During our education or in many conventional professional careers, success comes from knowing the most. The traders who make money are not necessarily those who know most. Select a basic objective strategy. Decide what data you must possess in order to make it work. Collect that data. Only. Decide what you need to know before you start collecting information.
My system: a) trading PC turned off 99% of the time. b) Algo on one dedicated algo machine, 1 screen, turned on a couple of hours after market open, just a bunch of numbers, no charts. My day each morning will see me in cafe drinking coffee and reading newspaper while mkt is opening, watching mkt out of corner of eye on mobile phone. c) Tablet with me at home to do a quick company search on or to check info from market related websites. d) might place 2-3 trades per week on average, turn on trading PC for a couple of minutes, then switch off again. The financial results support my wife & I with money left over accumulating. KISS Not one indicator in site on my system other than MA200 for reference purposes only.
Can't beat an uncluttered lifestyle and approach to work. Obviously the specific toolset might differ for each person, I just could relate to your post despite my computer being on most of the time but I also hardly ever look at charts and do not trade based on colors and lines and circles. News is a challenge for me as macro trader. I do need to expose myself to various angles and perceptions in order to inform my own decision making and derivation of what I perceive as the truth and most likely future outcomes. While I am very careful in my news source selection I also want to hear what others are using as the landscape is constantly changing and I might be missing out on innovations in news aggregation.
only makes sense right... this is a game where we all try to take money away from each other lol... so take advantage of any tools you have... especially if you have a media outlet. in terms of the 50 tabs lol (too funny)... generally speaking, those who write are clueless... people who go to school to study journalism of course have no clue in finance, so they get a job in newspaper/tv/online.... they have to call the institutions and go - mr. Trader, tell me what's going on.. and now what would Mr. Trader tell them to write? lol.
I feel that most articles today are just for the sake of content and to be found online first if there is a significant news event. Many of them are not the type of articles that one should be basing his decisions on for trading. Avoid information bias.
I guess, the cool part is.. it doesn't feel like work. It's all absolutely fascinating. A great puzzle.
Use the leverage of your subconscious and take a nap. Use Onetab and clear your tabs without losing your place. Relevant, pertinent, and actionable info will percolate toward being repeated daily opened tabs. Utilize mind-mapping software or OG paper and pencil. Build a notebook reference library. Overload comes from not digesting information and creating associations to longterm memory.
mr maxinger, same here, charts can be like the old spagetti sauce commercial, " . . . it's in there." While i will admit that prego is nowhere near as good as great grandma's homemade recipe, i also admit that market moving news announcements like fed talks and other reports, can provide opportunities for me to trade the reaction to the reaction. I don't bother to parse the monologue, I watch the chart. Gotta keep your eyes on your fries though, for sure, and use a short timeframe for my two cents worth. I don't have to put boatloads of capital to work and sure don't worry about moving markets with my trades tho, lol. Fund managers have other things and timeframes to consider. Old dude I knew would say 'if you're here after what i'm here after, you're here after i'm gone.' cheers I have noticed that asian markets responding to chinese anncmts can get consistently surprised by early release of the report, so once again, keep your eyes on your egg-rolls.