Day Trading Morning Prep; early morning news kick-starts another trading day

The James’ Report:  Day Trading Strategies for Professional Traders

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CREATIVITY:  Professional traders possess a combination of some very unique skill-sets, the most important of which is creativity.  Small-business experience, statistical and technical analysis are all important, however without a creative mind we would never be able to make any profit on these other technical skills we have developed.  Every new building starts with the design, how it looks, works, and the materials being used.  Every trading plan begins with a vision, which must be designed initially in the mind of the trader.  Even the most complicated black-box trading algorithms have some of the simplest designs at their beginning.  We can look all around us, the most sophisticated technology always begins with the simplest of design, and a creative mind is what discovered it.  Take the time today to step back and think outside-the-box, get creative, and have fun with it.  The world is filled with followers, today you can be the leader.

 News from Europe & Asia for US Morning Session:

– Australia Q2 GDP a touch below expectations; A$ at 6-week low below 1.02
– China Services PMI hits 1-year low but stays in expansionary territory
– Major European PMI Services data comes in below expectations
– Market awaits ECB rate decision and press conference on Thursday to get clarification of planned bond buying scheme to lower peripheral yields. Potential disappointment looming for Europe
– Markets also waiting Friday’s release of US payroll data to see if Bernanke has an excuse to perform QE3
– German new 10-year Bund auction technically uncovered; UK DMO bid-to-cover falls steeply from prior

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