Euro trading at lows, US news starts at 900am, and Yom Kippur at sundown

The James’ Report:  Day Trading Strategies for Professional Traders

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THE SPIRAL:  We develop new skills in a circular motion, which begins with us in our natural state, using our instincts to react to problems that may arise in the future.  From this point we learn new techniques, which at first, will feel unnatural and awkward.  Repeated practice and execution of these new techniques will soon lead us to feel more confident in our skills, and before too long we are now naturally using our new techniques as if we have never been without them in the beginning.  Take the example of a student of the financial markets.  When you begin to learn you react out of instinct when you take a loss, trying to avoid those losses in the future by reading books, attending seminars, and trying to get as much information as you can.  At first, this new information seems foreign, unnatural, but if a new trader begins to practice every day with consistency soon these new skills appear to be natural, as if they were born to be a professional trader.  Remember today that when you begin the learning process of ANY skill you will feel ‘unnatural’ at first, but rest-assured that the SPIRAL of your learning will bring you right back to your natural-self very soon!

News from Europe & Asia for US Morning Session:

– EUR/USD trades near the low for the week, equities are mixed as traders await additional clarity related to Spain
– Spain continues to seek details on the ECB’s OMT bond buying program. Spain’s Deputy PM said the government needs to know how much the ECB would spend on buying sovereign debt.
– Spain sells 3 and 6-month bills at higher yields and lower bid to covers.
– Italian bonds underperform ahead of supply due later in the week. On Wed, Italy is due to sell 6-months BOT, while Tesoro is due to sell 5 and 10-year bonds on Thursday. 
– Germany’s Debt Agency Chief suggests that Bund yields may begin to rise.
– German automakers underperform the DAX, amid speculation that Daimler might lower production

– Following the mixed open, European equity indices are mostly lower, led by the declines in the French CAC-40 and Italian FTSE MIB. Banks are broadly lower, led by declines in Credit Agricole and Commerzbank. Additionally, resource related companies are declining, tracking the weakness seen in the Chinese equity market.

– Jewish People around the world begin their most solemn religious fast of the year, Yom Kippur, beginning at sundown this evening, and continuing until sundown on Wednesday.

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