August 1, 2012
- in Uncategorized by schooloftrade
FOMC-Day, Manufacturing News, and Crude Oil Inventories
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The James’ Report: Day Trading Strategies for Professional Traders
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THE DOOR: The door is a metaphor that all professional traders must live by. On one side of the door is your internal self, your being, your emotions, body and mind. On the other side of the door is the material world, and all the chaos and distractions that come with it. As professional traders we must resist the temptation to open that DOOR and walk to the other side. On the inside, we stay focused on what makes us money the most, our trading. On the outside of the door we focus on fancy computers, magical indicators, and guru’s on television touting the next ‘big move’. Professional traders understand that if we stay INSIDE the door we focus on the now, the reality in price-action and we become more successful, but if we venture to the OUTSIDE we often get distracted, chaotic, and we lose focus and our profits. Which side of the DOOR are YOU on today? —————————————————————————————
News from Around the Globe Overnight:
– Key central bank rate decisions over the next 24 hours; market anticipates extended policy guidance from the Fed and the potential for some ECB measures to the support the euro zone
– German officials continue to tout its hard-line stance on Europe
– China data sends mixed signals on manufacturing PMI; Australia Manufacturing Index at 3-year low
– Major European PMI Manufacturing revised lower in final reading (3-year lows)
– Spain sets debt limit for Autonomous Regions in crisis
– US Tsy Sec Geithner: Europe ‘Still a cloud over us’
– German officials continue to tout its hard-line stance on Europe
– China data sends mixed signals on manufacturing PMI; Australia Manufacturing Index at 3-year low
– Major European PMI Manufacturing revised lower in final reading (3-year lows)
– Spain sets debt limit for Autonomous Regions in crisis
– US Tsy Sec Geithner: Europe ‘Still a cloud over us’
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Read
the Complete Morning Prep for Day Traders Here
the Complete Morning Prep for Day Traders Here
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