May 22, 2012
- in Uncategorized by schooloftrade
Traders prep for Manufacturing News
Professional traders appreciate the value of live price action when they are learning, it can never be replaced by reading books or post-market review. Too many new traders fall victim to the idea that hindsight and back-testing can be used in replace for watching the real-time price action as it develops, and it cannot. While you’re watching price action, always asking yourself, where we are, where we’ve been and where we’re likely headed in the future. What clues are you getting from the market? Is the price action saying anything to you? Look closely, if you don’t see it, focus on thinking about the people behind each candlestick and let time be the best teacher. —————————————————————————————
The James’ Report: Day Trading Strategies for Professional Traders
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What happened Overnight:
– Fitch cut Japan’s sovereign rating
– The battle lines have been drawn, ahead of Wednesday’s informal EU Summit; France want Eurobond; Germany wants growth without being financed by debt.
– BOE does not need to send inflation letter to Chancellor. First time in 10 quarters
– The battle lines have been drawn, ahead of Wednesday’s informal EU Summit; France want Eurobond; Germany wants growth without being financed by debt.
– BOE does not need to send inflation letter to Chancellor. First time in 10 quarters
– European equity indices opened the session higher, led by gains in banks and resource related shares, amid market optimism ahead of Wed’s EU summit and the decline in peripheral bond yields. As of the time of writing, equity indices are off of their best levels, as Fitch has downgraded Japan’s sovereign rating. In Greece, the Athens Stock Exchange (ASE) is lower by over 0.50%, amid renewed speculation that Greece’s largest banks will be provided €18B in financing.
