Morning Day trading plan; schooloftrade

The James’ Report:  Day Trading Strategies for Professional Traders

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PATTERN OF ENERGY:  What are you made of?  A scientist would say you’re an organism made up of trillions of cells, each containing molecules and atoms, which are always changing.  In other words, from a microscope we’re constantly changing, evolving into a pattern of energy that shapes the body into what we are today.  Our bodies are always evolving, never in the same place today as we were yesterday, so why would our trading career be any different? 

Professional traders can all reflect on earlier times in their careers when they knew less, wanted to do more, and had to evolve into the trader they are today.  The more we understand about these patterns of energy, the more we appreciate the opportunity to be successful as a professional trader.  Every day we make money in the markets is a byproduct of the work we put in 6 months ago, just as much as it is the effort we put forth today.  We are always learning news ways to use the same old techniques, new personalities to every market, and new ways to capitalize on the opportunities we see today.  Take a moment today to pause and think of the miracle that has occurred for you just to be alive today, and then remember that you’ve worked very hard to get where you are, so let’s make the most of today’s opportunities!

News from Europe & Asia for US Morning Session:

– European equity indices are broadly higher, as the DAX and EuroStoxx50 indices have moved to fresh 2012 highs. 

– Looking ahead, markets are expected to focus on interest rate decisions by the ECB and BoE. 

-Australia Nov Unemployment change beats expectations with +13.9k v flat consensus; Unemployment Rate at 3-month low
– New Zealand Central Bank keeps key rate steady (as expected)
-S&P cut Greece rating to Selective Default from CCC (4 notches) on recent developments on their bond swap plan; Concerns are mounting those investors might balk at the Greek debt buy back
– Deutsche Bank data said to have hidden some $12B in “mark-to-market” paper losses during financial crisis in 2007-09; company responds that it found the report to be “wholly unfounded” 
-US Treasury Geithner: No prospect for a fiscal cliff agreement if tax rates do not rise on the top 2%; Still hopeful that a deal will be made; prepared if a deal is not reached and we go over fiscal cliff
– UK Trade deficit widen in Oct 
– ECB and BoE expected to stay on hold
– European stocks extend 18-month highs

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