May 17, 2012
- in Uncategorized by schooloftrade
Traders Prep for Early-Morning Economic News; Jobless Claims & Philly Fed
Professional Traders have mastered the skill of ‘keeping an even keel’. Traders feel tremendous joy and happiness after winning trades, and extreme sadness and isolation after they lose money. This emotional roller-coaster is something that many new traders have experienced, and something that is challenging to avoid. The secret to every trader’s success with their emotions is understanding the big-picture plan. We are going to have days when we hate our jobs as traders, and there will be days when we feel like the KING of the world. Never take a loss or a win too personally, this is a business. If we take a loss, learn from it, but don’t dwell on it. When we take a winning position, use it to reinforce confidence, but don’t let it go to your head. The key is keeping to your plan, and understanding that within that ‘plan’ there will be ups and down, and we will end up on top! —————————————————————————————
The James’ Report: Day Trading Strategies for Professional Traders
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What happened Overnight:
– European markets quiet due to Ascension Thursday Holiday
– US foreclosure filings hit 5 year lows
– Spain sells upper end of its range in bond auction with Yields rising (as expected)
– US foreclosure filings hit 5 year lows
– Spain sells upper end of its range in bond auction with Yields rising (as expected)
– Spanish banks have seen over 1B Euro in withdrawals in the last week
– Troika to study contingency plan for Portugal in case of Greek EMU exit
– 3-month Euribor rises for the first time since Dec 19th 2012
– Troika to study contingency plan for Portugal in case of Greek EMU exit
– 3-month Euribor rises for the first time since Dec 19th 2012
