November 28, 2012
- in Uncategorized by schooloftrade
Day Trading Prep; schooloftrade
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The James’ Report: Day Trading Strategies for Professional Traders
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FOUNDATION FOR SUCCESS: Professional traders all have two things in common; a foundation of knowledge about the markets, and a simple set of rules to follow every day according to their trading plan. Every trader must possess these two fundamentals in order to have success in the long term of their careers. New traders come into the markets looking for magic indicators and people to call trades, when in reality the path to success can never be cut short. We must all take the time to learn the basics, so take the time today to learn about the markets you are trading. Learn how they operate, who participates, and how the business works around it. Once you set the foundation for success, then we move into using a specific trading plan, which will provide you with the road-map for your trading day.
News from Europe & Asia for US Morning Session:
– Sentiment wavering on edge of fiscal cliff as lack of progress seen in US budget talks – Euro Zone Oct M3 money supply data grows at highest rate since Oct 2008
– US Treasury says China CNY remained significantly undervalued but China is not a currency manipulator
– 10-yr JGB yield falling to 9-year low 0.72%
– European peripheral spreads tighten in session despite uncertainties in the details of the Greek deal
– Italy 10-year yield at 18-month lows below 4.70%
– Italy 6-month bill auction results seen as solid with yield at 2-yr lows
– German 5-year BOBL auction results seen as solid (lower yield with higher bid/cover ratio)
– Bank of Spain (BOS): Recent data suggests that Q4 GDP will continue to contract; impact of ECB efforts are waning
– Germany’s DIW Institute cuts Q4 GDP forecast to 0.0% (flat) from prior +0.2% – Onion: North Korea President Kim Jong-un 2012 ‘sexiest man alive’, China Daily runs 55-page photo spread
– European peripheral spreads tighten in session despite uncertainties in the details of the Greek deal
– Italy 10-year yield at 18-month lows below 4.70%
– Italy 6-month bill auction results seen as solid with yield at 2-yr lows
– German 5-year BOBL auction results seen as solid (lower yield with higher bid/cover ratio)
– Bank of Spain (BOS): Recent data suggests that Q4 GDP will continue to contract; impact of ECB efforts are waning
– Germany’s DIW Institute cuts Q4 GDP forecast to 0.0% (flat) from prior +0.2% – Onion: North Korea President Kim Jong-un 2012 ‘sexiest man alive’, China Daily runs 55-page photo spread
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