November 7, 2012
- in Uncategorized by schooloftrade
Markets React to US Election, German woes, Prep for Inventories
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The James’ Report: Day Trading Strategies for Professional Traders
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WE ARE ONE: One of the most interesting aspects of learning to be a professional trader is the awareness that we are all connected through the markets, working in separate locations, with different objectives and resources, but all working together in a symphony without a conductor. If you weren’t inside the trading world you would never know this secret ‘club’ existed, but once you step into the life you quickly see that we are all in this together. Many traders agree that the only thing that really makes sense in this world is the price-action on a chart, as if you are able to peel away the lies and manipulation to see what’s really happening in this world we live in. Fibonacci, the grandfather of technical analysis saw this phenomenon, and so did Elliot when he discovered the 5-point wave patterns that govern everything we do. Technical Analysts know this is true because they believe in the ‘wisdom of crowds’, and the list goes on. Ask yourself today, as you watch the charts, if it is the candlesticks that lead reality, or is it the opposite way around. News from Europe & Asia for US Morning Session:
– President Obama re-elected as President under the Electoral College; popular leaning towards Romney; First time ever for a second term president.
– Democrats retain Senate while Republicans retain House.
– Greece austerity vote later today; labor unions stage large-scale protests
– Democrats retain Senate while Republicans retain House.
– Greece austerity vote later today; labor unions stage large-scale protests
– European equity indices are broadly higher, as markets digest the US election results and better than expected earnings out of companies, including BNP and MunichRe.
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the Complete Morning Prep for Day Traders Here
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