ADP Employment Report, Crude Oil Inventories, Professional Trader Prep

The James’ Report:  Day Trading Strategies for Professional Traders

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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:

– AUD continues to be weighed down by worsening economic fundamentals
– Australia’s 10-year bond yield hits lows not seen since late July on RBA cut and weaker than expected trade data
– Spain’s PM Rajoy continues to play down bailout speculation, as Moody’s continues to assess the country’s sovereign rating.
– Peripheral bond markets trade in quiet manner, ahead of Thursday’s ECB meeting; CDS widen
– EUR/USD continues to respect the $1.28-1.30 range
-The major European services PMIs miss expectations
-UK Services PMI expands in Sept, raising hopes that the economy grew in Q3
-Italian FTSE MIB outperforms on better than expected services PMI data
– Italian bonds outperform as debt agency officials foreign interest in the country is rising
-Portuguese 1-yr bonds yields move sharply lower, ahead of debt exchange

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