May 9, 2012
Traders Prep for Crude Oil Inventories & Market Personality Clues
Professional traders understand that the road to trading success is very easy to navigate, but very few people actually use it. Instead, most traders look for shortcuts, which never give them the results they are looking for, and often puts them further behind in their learning than when they started. First, we must learn about the industry we are working in, we need to know how the markets work, and how we can profit from them buying and selling. Second, we must get to know the market personality of a few select markets and know them better than we know ourselves. Third, we must execute a simple trading strategy that has been proven over time to have a statistical reliability in its long term results. You see…these three steps are easy to understand, so why don’t we see more professional traders? Simple, people don’t take the clear path, they want shortcuts, magic indicators and guru’s that call trades for them. Stop cutting corners and looking for shortcuts, you know what you need to do, now lets go out and do it. —————————————————————————————
The James’ Report: Day Trading Strategies for Professional Traders
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What happened Overnight:
– Spain govt said to have plans to require banks to set aside additional €25-40B in provisions; announcement expected on Friday, May 11th
– Australia 10-year Givt yield approaching 60 year lows.
– Greece continues to struggle to build a coalition govt; France incoming President said to be at odds with structural reform partners
– Spain 5-year CDS at record levels above 510bps; spread between 10-year Bund at widest level since late Nov 2011
– Australia 10-year Givt yield approaching 60 year lows.
– Greece continues to struggle to build a coalition govt; France incoming President said to be at odds with structural reform partners
– Spain 5-year CDS at record levels above 510bps; spread between 10-year Bund at widest level since late Nov 2011
– Another day without much on the Economic Calendar, Crude Oil Inventories at 1030am EST today will be our focus.
Prepare for your trading
with these charts today:
with these charts today:
Crude Oil
Futures
Futures
Gold
futures
futures
E-Mini-Russell
Futures
Futures
Euro
Currency Futures
Currency Futures
