July 18, 2012
- in Uncategorized by schooloftrade
Crude Oil Rollover, Ben Bernanke and Wacky Wednesday Traders Prep
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The James’ Report: Day Trading Strategies for Professional Traders
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THE PLAN: Professional traders understand the value of a solid trading plan, and the process of developing that plan is just as important as the execution of the plan when its in place. We’ve all heard this before, it’s the journey not the destination, and this couldn’t be a more accurate way to describe the evolution of a professional trader. We cant skip to the end of this process, we must take it slowly and start from the foundation of a high percentage strategy. With a solid strategy we then need to adapt that to the markets we’re trading, and our internal emotions that control us. Once a professional trader has a trading plan, he or she has learned so much from this along the way that by the time they become successful with the plan its easy to see why. Do you have your trading plan ready today? —————————————————————————————
News from Around the Globe Overnight:
China Economic Work Conference China could shift monetary policy from “prudent” to “moderately loose” due to slowing economic growth
– Fed Chairman Bernanke to testify to House later today (Likely to reiterates Tuesday comments to the Senate)
– BOE vote to increase Asset Purchase Target earlier this month was not unanimous
– German Chancellor Merkel said to have commented that she could not be sure European project would work but remained optimistic
– Fed Chairman Bernanke to testify to House later today (Likely to reiterates Tuesday comments to the Senate)
– BOE vote to increase Asset Purchase Target earlier this month was not unanimous
– German Chancellor Merkel said to have commented that she could not be sure European project would work but remained optimistic
Equity indices opened the session broadly higher, despite mixed trading in Asia and amid mixed corporate earnings. France’s CAC-40 has led today’s gains, while the Spanish IBEX-35 has underperformed. Banks have traded mixed (laggards have included Deutsche Bank, Santander, BBVA and Unicredit). Amid the ongoing global growth concerns, UK-listed commodity names are trading mixed. Looking ahead, companies seen report earnings during the US morning include Abbot Labs, Bank of America, Bank of New York, BlackRock and Honeywell. Following Tuesday’s US close, large chipmaker Intel traded lower, as the company cut its 2012 sales forecast.
– Its Opening Day at the Del Mar Race Track today, attracting Fund Managers and the like for a day at the track.
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