It would wait or hope for corporate disclosures, earnings reports, news of acquisitions and buyouts. Even speculate on backdoor operations. All in the hope of catching the next big move.
How it felt before while waiting for those disclosures
Well, it was all a spectacular fail. Why? Because even if there were disclosures and others that did come out, my cyborg unit couldn't make heads or tails on what it all meant or how it would impact a stock's prices. I mean honestly, how many people out there really understand how all the computations or news will affect a stock?
Would it be a sell on news?
Buy on news?
Or no reaction?
Just like playing heads or tails.
I'm not saying that these do not work. There are people out there who make money being fundamentalists. Kudos to them! Unfortunately, I am not one of those people. So I switched tactics and learned how to be a technician. From one of the best.
So after having been trained in the ZF system, the results were tremendous. Just being focused on the chart would tell you if there was accumulation being done or if a big move was imminent. How to set your own target prices or trail stops and more importantly, setting and following cutlosses.
Nowadays, whenever I see, hear or read about people trying broker analysis or stay up late to watch how the US index performs or even some who look at the prices of commodities like gold/nickel/silver etc or those who keep hoping for earnings disclosure, I can't help but feel that I made the right choice. Because why should I use up important energy and resources in monitoring too many things that are beyond my control? Looking and worrying about all those external forces each and every day could lead to analysis paralysis.
So now I just stick to the charts. Sometimes it's the simple things that are the best. IT certainly helps this robot to power down peacefully at night.
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