Saturday, June 23, 2018

Listening to the "experts"

In a previous post, I mentioned about ignoring all the noise of the talking heads and experts on TV and in the media in general. 

Case in point. I was looking at the Australian dollar futures this week and did a quick search for any news. Well, I found two articles. One talked about how the Aussie dollar was on a down-trend (true) and it would go to .70. The other claimed the Aussie could hit .50.

Well, the chart below kind of tells you why you might want to ignore the experts and just focus on what the market does. After those two articles were published, the Australian dollar went from about .7345 to .7440 in two days. If you could have caught the bottom and top (very hard to do, but this is for illustrative purposes only), that would have been worth $900 per contract. 

Pay attention to the markets. They will do what they do, regardless of what the "experts" think.  

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