Professional Day Trading Morning Prep

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The James’ Report:  Day Trading Strategies for Professional Traders

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OPPORTUNITY:  Every trading day is a new opportunity to improve as a professional trader, and we have the luxury of live price-action to be our teacher.  There is a never-ending supply of learning (and earning) opportunities in the marketplace every day we just need to know where to look for them.  Are you a trader who has difficulty following rules?  Following a simple set of rules is a great example of something that cannot be done by reading a book, it must be learned in the heat of the moment while the candlesticks are forming in front of your eyes.  One of the biggest mistakes a new trader can make is to skip a day of live price action, or watching the charts without intention on improving today.  We have so many resources at our fingertips today; let’s not waste this opportunity to learn from the market personality.

News from Europe & Asia for US Morning Session:

– IMF cuts 2012 and 2013 global GDP forecasts (as speculated)
– Moody’s cut Cyprus sovereign rating 3 notches to B3 from Ba3 with Negative Outlook 
– EU/IMF/ECB Troika said to adjust adverse scenario forecasts for Greece debt levels to 150%/GDP by 2020 vs prior forecast of 146%/GDP in March
– PBoC Gov Zhou said the impact of the global financial crisis is worsening; to take more preemptive and targeted measures in monetary policy; Shanghai Composite up 2% on renewed RRR cuts
– UK production data and Trade Balances come in worse than market expectations

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