Today there wasn't any significant plays out there that fitted my playbook, or at least that what I thought as I was sitting through 95% of pre-market trading. But then at 9:28 ish I saw that $AGRX was a potential playbook play. But as we were so late into pre-market trading I wasn't too comfortable taking on this trade just by instinct, I didn't feel comfortable enough with the strategy to just go at it. And one of the reasons was that I hadn't been able to read through the news. But then it kind of hit me, I many times worry too much about how the news might impact the stock and its movement. but what I've seen lately is that the news doesn't really matter if the specific strategy is lined up perfectly, and this goes for several strategies. Unless the news is like a merged news or a huge contract with like $AAPL or something ridicules like that.
So what I plan on doing as the next opportunity comes along is to not worry of how the news might impact the movements of the stock unless it says "merge, FDA approval or any big named company". Because I feel that I lose track of what indicators really matters to my specific playbook setups as I focus in too much on how the news is going to impact the stock. and many times just like today it makes me sit by the sidelines. And guess what, I'm tired of sitting by the sidelines seeing that my thesis is right. lol.
And I feel that this is a big step forward for me as I start to understand what type of information that distracts me more than it adds to my thesis.
So tomorrow I'm going to make sure that the day is a stress-free trading day as it comes to trying to detriment how the news is going to impact the stock, by simply not doing it. Trade the ticker, and it's movements, not the company or their bull sh*t.
Take a minute to think about that, is there any indicator within your strategy that might bring you more noise than clearness to the setup?
Received 1 Karma