Traders Prep for Jobless Claims, Ben Bernanke and Fed Budget Statement

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The James’ Report: Day Trading Strategies for Professional Traders

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Professional traders understand the value of trading ‘what you see’ rather than ‘what you know’, avoiding the temptation to waste time trying to figure out what will happen in the future, or why things happened when they did. We can spend all day working on predicting the future, when in reality we have everything we need coming from the market right now in the form of reading tape, watching speed, and looking for market sentiment. Rather than trying to predict the future, professional traders have mastered the present.

What happened Overnight:

– Australia April employment data exceeds expectation with unemployment rate at 12-month low.

– French Industrial Production lower then estimated
– China April trade surplus almost 2x higher than expected with imports and exports both weaker.
– BoE expected to refrain from any new QE program for the time being
– South Korea Central Bank leaves interest rates unchanged (as expected)
– Greece Pasok Party now has mandate to form a new Govt; new elections remain the likely scenario

read the complete morning
prep here

Prepare for your trading
with these charts today:

Crude Oil
Futures

Gold
futures

E-Mini-Russell
Futures

Euro
Currency Futures

Day
trading strategies

read the complete morning
prep here

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