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Jackson Hole, Jobless Claims, and Labor Day Weekend Trading Strategy
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MASTERY: Many people believe that professional traders rely on supernatural powers, superior intelligence, or excessive working hours to become success in this business. Ask any successful trader and you will quickly learn, this is certainly not true. The secret to a trader’s success is quite simple; we have to MASTER the moment. At first this seems to broad, too simple, this can’t be the answer, right? Think about the times when your body is here, but your mind is somewhere else. If you are working, and thinking of play, you will accomplish neither. This theory is simple to understand, but executing this in our daily routine is challenging. Take the time today to look at your personal routine. How can you do a better job at slowing down, and living in the moment? Are you eating when you eat? Trading when you trade? Sleeping when you sleep?
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News from Europe & Asia for US Morning Session:
– Brazil Central Bank cuts interest rates for the ninth time in current cycle to record low levels buy hints that perhaps the easing cycle might be over
– German Chancellor Merkel in China to convince Europe is a worthwhile investment; Premier Wen expresses confidence
– German Aug Unemployment Change rises for the fifth straight month
– Poland Q2 GDP weaker than expected with second half of year seen slowing even more
– Key focus turning to the annual Kansas City Fed Symposium of Central Bankers in Jackson Hole, WY
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