Back into the rhythm of the markets after a restful break, re-focus our energy in the right directions
The first thing I’m doing this morning is getting back into the ‘rhythm’ of my trading. Everything from my morning routine to my mental prep before I take my first trade; this is when I need to focus on my routine and let myself get back into ‘the zone’ where I was when I left end of last week. One of the biggest mistakes I made as a rookie day trader was to force trades the first day back from vacation, so let’s not make the same mistake this week. Take it slow the first day back, don’t try to do too much, have some fun, get back into our routine. Looking at the news this morning we have the 8:15 ADP Employment Report, followed by news at 10:00 from both ISM Manufacturing & Construction Spending, all three will be important for us to watch this morning ahead of Friday’s Non-Farm Payrolls Report which will certain have people watching. The most important aspect of today’s news is what we DO NOT SEE…Crude Oil Inventories are normally on Wednesday’s but due to the Monday Holiday its been pushed back until tomorrow @ 11am EST. Think about how that could affect the markets? Traders won’t be trading TODAY because the news is tomorrow…at the same time…traders wont trade TOMORROW because the news wasn’t TODAY. Traders love things to be the SAME when they trade and this is an easy excuse to sit on the sidelines this week for the crude news, so we will be watching how volume and speed react to this LACK of news at 10:30am today. I can see we have Gold Futures in contract rollover today, now trading the 8-11 contract. Let’s review that process together in our live trade room this morning, as well as the Dollar Index, Crude Oil, Russell, Euro and more. We Love Your Feedback! Read and Post it here J Live Trade Room is open, come join us! Click here for helping logging into the Trade Room
