September 12, 2012
- in Uncategorized by schooloftrade
FOMC Meeting Begins, German Court Approves ESM
—————————————————————————————
The James’ Report: Day Trading Strategies for Professional Traders
—————————————————————————————
THE KING: Professional traders understand they must rule their lives like a king rules over a kingdom. Sure, there are many perks to being a king, just like there are for being a professional trader, however we need to remember that those benefits comes with some sacrifice. First, we need rules to follow in our personal and professional lives. As traders, we must create those rules, as well as enforce them. Domestic policies in your kingdom will help govern our inner-selves, while our foreign policy will deal correctly with the people around us. As king we don’t want too many laws to confuse ourselves, adding complicated laws will only make things more difficult, and we need to remember that the best king is the one that nobody thinks they have. This analogy is effective because just like a king, professional traders must rule their lives with simplicity and without overbearing control. You are the ruler in your life today, and it’s time for you to take control over your kingdom. News from Europe & Asia for US Morning Session:
– This morning is the beginning of the 2-day FOMC Meeting in the US. Markets are anticipating some big news from the Fed regarding more stimulus, and it shows in the market’s personality this week leading up to Bernanke’s speech on Thursday.
– European equity indices are trading higher, but off of their best levels after Germany’s Constitutional Court rejected the injunction which sought to halt the ESM/fiscal compact. The best performing indices on the session have included the Spanish IBEX-35 and the Italian FTSE MIB. The German court ruling has been supportive to bank shares and outperformers in the sector include French and Italian banks. Resource related companies are broadly higher, amid the rise in commodity prices. Looking ahead, the focus of the markets is expected to be Thursday’s US FOMC decision, as some traders have raised their bets for more quantitative easing following the weaker than expected Aug non-farm payrolls data.
—————————————————————————————————–
Read
the Complete Morning Prep for Day Traders Here
the Complete Morning Prep for Day Traders Here
Advanced
members receive LIFETIME Trade-Room Access & All Future Strategies. Join today.
members receive LIFETIME Trade-Room Access & All Future Strategies. Join today.
===========================================================
