September 13, 2012
- in Uncategorized by schooloftrade
Jobless Claims, FOMC Announcement, and Possible QE3
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The James’ Report: Day Trading Strategies for Professional Traders
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MASTER OF NONE: We’ve all heard the saying before; ‘a jack of all trades is a master of none’ and this phrase couldn’t be more accurate for a new trader trying to learn to make profits every day. Many of us begin the learning process with confidence, but then are humbled by the complexities of the markets and we begin the tiresome process of searching for the ‘Silver Bullet’ that will allow us to work less and print money from the markets we trade. New traders must be very careful not to bounce around from strategy to strategy, never truly learning one or the other, and never seeing enough feedback from the market to truly learn this skill. A professional trader understands that to be successful at this business you need to be committed to one strategy so you can master it. This process may take a few weeks, months, or even years, but in the end it always results in a successful trading career for many years to come. Take the time today to think about your learning process. Are you spreading yourself too thin trying to bounce from one idea to the next? Take the time today to re-focus your time and energy in one direction, any direction, and as long as you commit to it 100% you will be successful in your efforts beyond your wildest dreams. News from Europe & Asia for US Morning Session:
– Following the mixed open, European equity indices are trading lower ahead of the later today FOMC decision, led by declines in the peripheral indices.
– Markets expected to be flat ahead of this afternoon’s announcement from the Fed and Bernanke.
– Netherlands elections: pro-Euro parties survive; PM Rutte’s Liberal party win most seats but no majority so coalition must be formed
– Numerous central banks keep policy decisions unchanged with New Zealand, South Korea, Indonesia, Philippines and SNB among them
– SNB also maintains EUR/CHF floor at 1.2000
– Markets await decision for FOMC and clarification on QE3
– Numerous central banks keep policy decisions unchanged with New Zealand, South Korea, Indonesia, Philippines and SNB among them
– SNB also maintains EUR/CHF floor at 1.2000
– Markets await decision for FOMC and clarification on QE3
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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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