I hear a lot of people complaining about suffering from information overload nowadays. They may have a point – it depends on what type of information are you getting overloaded on? Are you overloading your charts with ten different technical indicators, that each of which by themselves, or taken together, will never generate enough order flow to move the market? Or are you overloaded with information about various types of order flow generators that can move the market? The latter is the good type of information overload.
Years ago when I learned order flow trading, I suffered information overload every second of every day for around 180 days straight. The amount of information I was attempting to process was truly mind boggling. I read everything from forum posts, to trading books, to central bank minutes, watching central bank chief speeches, reading economic textbooks, to every little commentary that could potentially have an impact on the markets. Not to mention having read over 10,000 different articles on interpreting the news, market participants, and what is moving the markets.
You want all the stimulation you can get for your mind. The mind is truly an amazing thing, but you need to feed it good information to work with. Feed it junk, and it will probably spit out junk. Feed it good information on order flow and what can move the market, and it can reward you beyond your wildest dreams. You do not need to necessarily fully understand everything that you read, listened to or watched. It doesn’t necessarily matter how much you consumed. The thing that matters is the small, tiny ideas – the gems that you unearth. Those great ideas that can lead to profitable order flow trades.
Feed your mind information about success stories, profitable trades, order flow generators, liquidity, inefficiencies, and making money in any type of market, and watch your trading success explode to a whole new level.
I process a lot of information every single day as time allows. Reading upwards of ten articles per day on market sentiment and news releases and what can be affecting global markets. Reading books and magazines, watching videos, occasional forum lurking. A lot of the stuff I already know, but I am just searching for that new potentially profitable information that can lead to that extra profitable trade per month, or to possibly remove certain losing trades from my normal course of action. If, I can discover one new inefficiency every few months or so, then that can absolutely justify reading a magazine or newsletter every month. Sometimes the information I read can help to keep a positive outlook on life and help myself stay in the game and keep playing and therefore have sufficient capital to catch the big market moves and trades that occur a few times per year.
Therefore, next time, be careful when you believe you are suffering from information overload. Unplugging yourself from various sources of information is not the thinking of exceptionally successful traders. You need to plug yourself into the best possible order flow information in order to stimulate the profitable thoughts and trades in your mind. Feed your mind information about success stories, profitable trades, order flow generators, liquidity, inefficiencies, and making money in any type of market, and watch your trading success explode to a whole new level.