June 6, 2012
- in Uncategorized by schooloftrade
ECB Press Conference, Crude Oil Inventories, Market Personality on our Radar
Professional traders have mastered the skill of staying centered. Our days can be chaotic at times, with lots of different things happening at once, pulling our attention and emotions in what appears to be too many directions to keep it all together. Professional traders understand that if they stay ‘centered’ they can control all the chaos by controlling their inner thoughts. When things start to get chaotic, its time to step back for a second, reminding ourselves of our trading plan, our 3 price patterns, looking at slower chart timeframes to see the bigger picture, reading the tape for a few moments, reviewing the news for today, all are things that take only a few moments but will bring you back to your ‘center’ today. The next time you find yourself feeling scattered and confused, take a few deep breaths, step back mentally, and refocus your plan of attack. —————————————————————————————
The James’ Report: Day Trading Strategies for Professional Traders
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What happened Overnight:
– Australia Q1 GDP expands at fastest pace in four years.
– German Industrial Production comes out dramatically lower
– Stimulus hopes grow in both China and US
– Moody’s takes action on German and Austrian banks’ ratings
– Spain Budget Min Montero: Spain is losing access to credit markets
– Chancellor Merkel sticking to No euro bonds and No direct bank recapitalization views
– Stimulus hopes grow in both China and US
– Moody’s takes action on German and Austrian banks’ ratings
– Spain Budget Min Montero: Spain is losing access to credit markets
– Chancellor Merkel sticking to No euro bonds and No direct bank recapitalization views
– European equity indices opened the session broadly higher as the focus of markets is on the later today ECB rate decision and press conference. So far on the session, Spain’s IBEX has outperformed (higher over by over 2%), amid ~3% gains for the major Spanish banks and decline in government bond yields. In terms of the UK’s FTSE 100, after being closed for the prior 2 sessions the index has gained ~1.5%, as banks have outperformed on catch up buying. Additionally, the major UK-listed miners are higher by 2-6% on the combination of catch up buying and higher commodity prices.
