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What Reports?

There are many economic reports that are disseminated daily. But what report should one watch? Admittedly, I do read some reports, but the reports do not override my trading screen, because the trading screen will reflect those reports. Meaning, let us say hypothetically the CCI decreases. That could have various meanings depending on the trader. Hence, price action monitoring is critical because “meaning” is relative to the trader.  So, I do not watch too many reports, I just watch my screen, stick to my trade plan and trade accordingly. However, watching reports can help one’s trading. For instance, let us say hypothetically, the CCI decrease by 10 points. One then can watch the screen to see how that effects the trade plan. From this information one can hypothesize future price action outcomes and modify the trade plan for those reporting days, such as, maybe those day are days not to trade. Just remember, always “trade the facts” and the facts are your proven successful trading plan.