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Posted by Joseph James

Head Trader at Motivator, Trader, Fund Manager and Educator. Joseph focuses on intra-day trading of crude oil, E-mini Russell, Gold, and Euro and his network of traders covers all corners of the industry.

SchoolOfTrade; Day Trading Strategy Morning Prep

by Joseph James on February 4, 2013

in Commodities, Technical Analysis

“Believe you can and you’re halfway there.” -Theodore Roosevelt
News for the day:

This morning we begin a new week of trading in our live trade room with no major news before 9:30amEST.  On top of that, lets recall the major news from last Friday most likely means large fund managers come to their desks early this morning to analyze their positions and make sure it all makes sense with Monday’s market-personality.  This will slow things down from getting the week started, and this is a substantial clue for new traders to be patient for the first trade of the week, and look for the best market-personality and price-action between the hours of 9:30am and 11:30am EST this morning. 
Monday’s are always an easy way to dig yourself into a hole to start the week, so let’s be patient this morning as traders come back to their desks and get this party started-up again!
8:20am EST:                        Gold & Currency Futures Open
8:30am EST:                        Market personality Check
9:00am EST:                        Crude Oil Futures Open
9:30am EST:                        US Markets Open
10:00am EST:                    Factory Orders [945]
10:30am EST:                      Market personality Check
12:00pm EST:                      Lunch Break
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