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Key events and releases for next week’s trading

  
  Analysis
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Fed Chair Powell speaks at Jackson Hole Economic Policy Symposium on Friday

The key event next week her until Friday at 10 AM ET/1400 GMT, when Fed Chair Powell is scheduled to speak at the Jackson Hole Economic Policy Symposium.  The title of his speech is “Challenges for Monetary Policy”.

Chairman Jerome Powell will speak at the Jackson Hole economic policy symposium

The meeting minutes from the last FOMC meeting will be released on Wednesday at 2 PM ET/1800 GMT.   The market is very sensitive to what the Fed might do at their next policy meeting in September. There is a 100% chance for a rate cut, with the market currently pricing in a 32% chance for 50 bps.
Other key events and releases for the week include:
Tuesday:
  • RBA monetary policy meeting minutes. 9:30 PM ET (Monday/0130 GMT
  • Canada manufacturing sales.  8:30 AM ET/1230 GMT
  • FOMC member Quarles speaks. 6 PM ET/2200 GMT
Wednesday
  • Canada CPI. 8:30 AM ET/1230 GMT
  • US FOMC meeting minutes.  2 PM ET/1800 GMT
Thursday
  • France flash manufacturing/service PMI.  3:15 AM ET/0715 GMT
  • German flash manufacturing/service PMI.  3:30 AM ET/0730 GMT
  • EU flash manufacturing/service PMI.  4 AM ET/0800 GMT
  • US flash manufacturing PMI. 9:45 AM ET/1345 GMT
  • Jackson Hole economic policy symposium begins. Day 1
Friday:
  • New Zealand retail sales.  6:45 PM ET/2245 GMT
  • Canada retail sales. 8:30 AM ET/1230 GMT
  • Fed chair Jerome Powell speak. 10 AM ET/1400 GMT
  • Jackson Hole economic policy symposium. Day 2
Saturday:
  • Jackson Hole economic policy symposium. Day 3

10 Things that Great Traders have Declared Independence From –

  
  Education
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  1. Great traders do not have to be right about any one trade, their success is based on winning more than they lose on a large amount of trades.
  2. Great traders do not need trade ideas from other traders, they trade a system and method independent of others opinions.
  3. The best traders are independent of holding on to losing trades stubbornly trying to prove they are right, they cut losses.
  4. The best traders are not prisoners of their emotions they can make clear headed decisions due to trading like it is a business not an ego trip.
  5. Rich traders became rich because they had systems that allowed winning trades to be free to run as far as they would go. They are independent of price targets.
  6. Rich traders trade independently from BLUE CHANNEL sentiment.
  7. Great traders trade charts independently of market sentiment.
  8. Great traders trade independently of talking heads on financial television.
  9. Winning traders are independent of market gurus they have proven systems and methods.
  10. Great traders are free from the risk of ruin because they never risk more than 1% to 2% of their total capital on any one trade.

TEN WAYS TO BE A TRADER NOT A GAMBLER

  
  Education
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  1. Trade based on the probabilities NOT the potential profits.
  2. Trade small position sizes based on your account NEVER put your whole account at risk of ruin.
  3. Trade a plan NOT emotions.
  4. Always enter a trade with an edge that can be defined DO NOT trade with entries that are only opinions.
  5. Trade based on quantifiable facts NOT opinions.
  6. Trade after extensive research on what works and what does not. Don’t trade in ignorance.
  7. Trade with the correct position sizing since risk management is your number one priority and profits are secondary concern.
  8. Trade in a way that eliminates any chance of financial ruin NOT to get rich quick.
  9. Trade with discipline and focus DO NOT change the way you trade suddenly due to winning or losing streaks.
  10. Trade in the present moment and DO NOT get biased due to old wins or losses.

5 Distinguishing Features of Great Traders

  
  Education
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* Everyone is wrong in the markets at times. The difference between the great traders and the unsuccessful ones is in how long they stay wrong.
* Addictive traders get high from action; great traders get high from mastering markets–and mastering themselves.
* Great traders do their best work when they are not trading; unsuccessful traders do not work when they are not trading.
* Every loss of discipline is a self-betrayal; great traders are true to themselves and stay disciplined as a result.
* Great traders focus on the two things they can always control: when they play and how much they bet. 
You will never achieve greatness by minimizing your weaknesses. At best that will bring you to average. The path to greatness lies inmaximizing strengths: becoming more of who you are when you are at your best. Here are five things I look for in successful new traders.

5 Great Things about Great Traders

  
  Education
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 Everyone is wrong in the markets at times. The difference between the great traders and the unsuccessful ones is in how long they stay wrong.
* Addictive traders get high from action; great traders get high from mastering markets–and mastering themselves.
* Great traders do their best work when they are not trading; unsuccessful traders do not work when they are not trading.
* Every loss of discipline is a self-betrayal; great traders are true to themselves and stay disciplined as a result.
* Great traders focus on the two things they can always control: when they play and how much they bet. 

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