May 16, 2012
- in Uncategorized by schooloftrade
Traders Prep for Wacky Wednesday & Crude Oil Inventories News
One of the biggest challenges facing new traders is the reality that a poor trading decision can result in a profitable trade just as easily as a proper trading decision can result in a loss. For this reason, we see many new traders that will make money out of ‘beginners luck’ because they lack fear in their decision-making, but later on in their careers that lack of fear ends up humbling them to the sidelines, and often never returning to their glory when they began. We can avoid this ‘trap’ that we all stumble through by acknowledging this and using a simple trading plan for every trade we take. New traders MUST use a trading plan, or they will fall victim to this cycle of fear-based trading that will ultimately end a traders career. Do you have your trading plan ready today? —————————————————————————————
The James’ Report: Day Trading Strategies for Professional Traders
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What happened Overnight:
– European equity indices opened the session broadly lower, as indices have been pressured by banks
– China’s “Big Four” state-run banks have issued almost no new yuan loans in the first half of May
– Germany and ECB said to be at odds over EFSF guarantees
– UK Claimant Count registers its largest monthly decline since July 2010
– ECB holding a previously scheduled meeting in Frankfurt
– Germany and ECB said to be at odds over EFSF guarantees
– UK Claimant Count registers its largest monthly decline since July 2010
– ECB holding a previously scheduled meeting in Frankfurt
– Greek Elections planned for mid-June
