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Monthly Archives: June 2012

June 12, 2012

Heat map up-date @ 815am EST

The heat map on our morning prep this morning shows us ALL the currencies are trading narrow and flat this morning.  The US Dollar index is trading at -0.1% and with anything below 0.2% +/- we won’t use it as a strong correlation like we often do.  We can also see the other currencies also […]

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June 12, 2012

Day trading strategy using dollar index futures

We use a negative correlation with the US dollar index futures market to make educated trading decisions that go along with our pre-determined trading plan.  Simply put, we look for trading opportunities within our simple trade plan and when the dollar index correlation confirms it we take the trade with higher confidence.  We don’t always […]

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June 11, 2012

3 jobs to be a professional trader

3 jobs to be a professional trader: Understand HOW the markets & trading tools work. Learn basic price patterns and use them for trading entries Keep your emotions under control while you look for these patterns. Learn these in sequence and keep it simple.  First step, learn HOW the markets work, today is Contract Rollover […]

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June 11, 2012

Day trading strategy for dollar index

The dollar index trading lower this morning below the PLOD and towards the upper third of the bullish price channel.  We take our time with this 144-range chart on the dollar index to extract all of the vital information we need to be at our trading-best this morning.  Remember the dollar index correlation is always […]

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June 11, 2012

Monday News Prep

Monday morning, our news prep is crucial for locating the news overnight and the news today.  There may be reaction to the news overnight, so we start there. Bullish news overnight from China, France and Spain will take center stage this morning with the lack of major US news.  The question we need to answer […]

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June 11, 2012

Monday Morning Prep for Professional Traders

Every new day is another opportunity to learn from the valuable clues hidden inside of every candlestick.  This morning we look for clues from the people, the traders behind each move in the market, and their reasoning for it.  Remember that every candlestick we see is the result of market sentiment from something in the market, and […]

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