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As a scalper, very short term trader, do fundamentals play any part of your methodology.
I'm not a futures trader but I find that if I take fundamentals into consideration when trading stocks that it gives me a bias that may cause me to stay with a trade way to long.
Some famous Wall street trader said "The market can stay irrational longer than I can stay solvent"
Investors study fundamentals, traders study price movement.
"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
I do think fundamentals play a role in the daily price movements in markets. It could be a number of things that set the tone/bias for the day ranging from oil inventories on Wednesdays, inflation day like CPI, Fed rate decisions, and announcements from OPEC countries about supply cuts. These are just to name a few events that shape the price action for the rest of the day/week. I would consider these events part of the fundamental picture in the oil market and they can change moment to moment. However, I agree with you in the sense that price action is more important than fundamentals. My 4 tick stop loss is not influenced at all by the fundamentals of the crude market. Also, I would not let my account go to zero just because I think a report is bullish.
blackgrey45
Marco Island, FL
Legendary Market Wizard
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 791 since Jul 2022
Thanks Given: 877
Thanks Received: 916
Trades today
Market MCL
Trade 1
6:53am Entry Short @78.45 | 30 tick stop @78.75 and Take Profit @77.85
7:06am Stop moved to breakeven
7:24am Take profit moved to 77.65
8:19am Exit @77.65 | Result +$80.00
4:49am Long 78.60 | Exit 78.50 | Result -$10.00
5:11am Short 78.77 | Exit 78.87 | Result -$10.00
5:18am Short 78.81 | Exit 78.41 | Result +$40.00
7:40am Short 78.84 | Exit 78.84 | Result $0.00
8:02am Short 78.86 | Exit 78.86 | Result $0.00
8:16am Long 78.76 | Exit 78.60 | Result -$16.00
8:42am Short 78.53 | Exit 78.65 | Result -$12.00
8:56am Short 78.75 | Exit 78.82 | Result -$7.00
8:58am Short 78.87 | Exit 78.83 | Result +$4.00
9:17am Long 78.41 | Exit 78.38 | Result -$3.00
9:19am Long 78.41 | Exit 78.41 | Result $0.00
1:00pm Long 79.23 | Exit 79.43 | Result +$20.00
1:40pm Long 78.87 | Exit 79.12 | Result +$25.00
2:08pm Long 78.86 | Exit 79.07 | Result +$21.00
Trade 1
11:37am Short 78.33
11:40am Exit 78.13
Result +$20.00
Trade 2
2:02pm Long 77.72
2:19pm Exit 77.94
Result +$22.00
Daily profit after fees +$39.32
On another note I am starting to think about my financial future outside of trading and decided to buy a stock today. I bought Monster Beverage Corp. I'm not a stock market expert but I like the product they sell and the EPS/market cap is growing every year.
