November 30, 2012
- in Uncategorized by schooloftrade
Day Trading Plan; schooloftrade
Germany Parliament approves revised Greek aid bill; German domestic engine sputtering after weak retail sales data; Euro-zone Unemployment Rate hits fresh record high
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The James’ Report: Day Trading Strategies for Professional Traders
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THREAT OF SUCCESS: For many professional traders, the biggest obstacle in their career is handling the almost-overnight success in their trade account. When we are successful as traders we must do everything in our power to remain humble, and resist the temptation to over-complicate our trading and our personal lives. This can be easier said than done. The key to avoiding this trap is to remove the profit and money from the equation and focus on the routine and trading plan. For example, at the end of each week, professional traders feel successful when they follow their rules, following their trading plan. The wise trader knows that when we follow our plan consistently the byproduct of that will be profits in our trade account. The key to handling success is to demand more from ourselves than just profits alone. Hold yourself to a higher standard and accountable to your trading plan, rather than your trade account.
News from Europe & Asia for US Morning Session:
– US budget shenanigans likely to continue ahead of fiscal cliff
– Japan Industrial Production data comes in stronger than expected with 1st rise in 4 months. Cabinet approved 2nd round of stimulus. Lawmakers threaten to remove BoJ independence
– Rising pressure among both LDP and DPJ members for an outsider to take the reins at the BOJ; JPY at 7-month lows against both USD and EUR
– Strong China Nov manufacturing PMI forecast for Saturday release
– RBA chance of rate cut next week seen gaining momentum
– German Oct Retail sales slump leads to speculation whether private consumption can continue to remain pillar of domestic growth
a strong pillar of domestic growth
– Italian Oct Unemployment Rate of 11.1% climbs to highest level since Jan 2004
– Euro Zone Oct Unemployment Rate at fresh EMU record level of 11.7%
– German Parliament expected to approve Greek aid package
– Japan Industrial Production data comes in stronger than expected with 1st rise in 4 months. Cabinet approved 2nd round of stimulus. Lawmakers threaten to remove BoJ independence
– Rising pressure among both LDP and DPJ members for an outsider to take the reins at the BOJ; JPY at 7-month lows against both USD and EUR
– Strong China Nov manufacturing PMI forecast for Saturday release
– RBA chance of rate cut next week seen gaining momentum
– German Oct Retail sales slump leads to speculation whether private consumption can continue to remain pillar of domestic growth
a strong pillar of domestic growth
– Italian Oct Unemployment Rate of 11.1% climbs to highest level since Jan 2004
– Euro Zone Oct Unemployment Rate at fresh EMU record level of 11.7%
– German Parliament expected to approve Greek aid package
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