June 5, 2012
- in Uncategorized by schooloftrade
More Bears in Europe after Retail Sales come lower; US Traders Stay patient ahead 10am News
Professional traders understand that bad trades happen to great people, but it can sometimes be too easy to feel sorry for ourselves because of losses or mistakes we’ve made along the way. “I’m working very hard, I am a very smart person, and these markets are out to get me” is a typical scenario you see among new traders. Professional traders understand this thought process can quickly lead to ‘self-martyrdom’ as our inner ego seeks recognition. Don’t let yourself play the victim in your trading if you’re having trouble getting started, you will soon begin to seek more sympathy and you will attract more failure in your career, this is a slippery slope for any new trader. Avoid this trap by accepting failure for what it is; a valuable learning experience that will not be your first or last in your career. Just like everything in this life, every lesson we learn is another stepping stone along the way, but it’s up to us to react to our emotions and failure in the correct way to ensure our future growth and success as traders. How can I learn from this experience today? —————————————————————————————
The James’ Report: Day Trading Strategies for Professional Traders
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What happened Overnight:
– China May HSBC PMI Services at 19-month high, other BRICS reading improve as well
– RBA cuts by 25bps to 3.50%, as expected; has further room to move
– G7 Fin Min and Central Banker conference call awaited, no details of when it would occur; Markets ponder whether any potential coordinated policy action in the pipeline
– Euro Zone Apr Retail Sales weaker than expected
– RBA cuts by 25bps to 3.50%, as expected; has further room to move
– G7 Fin Min and Central Banker conference call awaited, no details of when it would occur; Markets ponder whether any potential coordinated policy action in the pipeline
– Euro Zone Apr Retail Sales weaker than expected
– China May HSBC PMI Services at 19-month high, other BRICS reading improve as well
– RBA cuts by 25bps to 3.50%, as expected; has further room to move
– G7 Fin Min and Central Banker conference call awaited, no details of when it would occur; Markets ponder whether any potential coordinated policy action in the pipeline
– Euro Zone Apr Retail Sales weaker than expected
– RBA cuts by 25bps to 3.50%, as expected; has further room to move
– G7 Fin Min and Central Banker conference call awaited, no details of when it would occur; Markets ponder whether any potential coordinated policy action in the pipeline
– Euro Zone Apr Retail Sales weaker than expected
