August 10th, 2018 - Issue #931
In This Issue
1. Trading Challenge - Do you have what it takes?
2. Hot Market Report: Euro Currency Futures
3. Economic Calendar
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1. Trading Challenge - Do you have what it takes?
Trading Competition
Start: August 19th at 5 PM CT
End: August 31st at 4 PM CT
Prizes (Commission Credits)
First Place: $1,000
Second Place: $500
Third Place: $250
Competition Details
- All trades will be completed in the GAIN Trader Simulated Trading Environment using the white-labeled Contest Trader application
- All traders will begin with a virtual account of $100,000. Your goal: increase the balance to as much as possible by the conclusion of the competition
- Choose to trade from CME Group’s Gold(GGC), Crude Oil(GCL), Corn(ZC), Wheat(ZW), Soybean(ZS) products, and the 10-year treasury note(ZN)
- Top three traders with the highest P&L balance at the end will get commission credits towards their live account trading post the contest
- Contestants do not need to have a current live or active account, but the commission credits to the winners will only be credited to live trading on GAIN Capital Futures accounts
Rules/Guidelines
- This trading completion is limited to non-professional individuals only. Entities and NFA registered persons are not eligible
- Simulated commission charges set at $5.00 per side inclusive of fees
- Only 1 demo account is permitted per client for the contest
- Futures only will be traded
- Top 10 rankings will be updated prior to the next trading day on https://gainfutures.com/ at close of market, with the winners announced Tuesday September 4, 2018
- Using the Contest Trader front-end trading application will be mandatory amongst all contestants
Good Trading
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Important: Trading commodity futures and options involves a substantial risk of loss. The recommendations contained in this letter are of opinion only and do not guarantee any profits. There is not an actual account trading these recommendations. Past performances are not necessarily indicative of future results.
2. Hot Market Report: Euro Currency Futures Continue Lower trend
By Ilan Levy-MayerClick on image below to enlarge
Euro Currency futures have been on a lower trend now for the past 4 months but even more pronounced over the last three weeks. US Fed Policy of raising interest rates is very friendly to a strong U.S. Dollar, Geo political events, strong US protectionism policy, Tariffs resulting in the weakness of Russian Ruble and the Turkish Lira are just a few of the fundamental factors affecting this market.
Personally, I would much rather trade the currency futures than FOREX spot. Many beginning traders who start small will venture into the forex markets but it is my opinion that a primary market that is trading on one regulated and centralized exchange is much better than trading "against" your broker/forex dealer in a secondary market.
Weekly chart of Euro Currency futures for your review from this morning ( August 10th 2018). You can see the market got into the "red zone" in the end of May and since then got into the "double red zone" where you see both a red bar and a red triangle on top. At the time I am writing this newsletter, the market is sitting on a FIB support level so the close today ( Friday Aug 10th) is important and if we close below 114.720 it may open the door for further decline
To access a free trial to the ALGOS shown in the chart visit and sign up for a free trial for 21 days with real-time data.
Euro Currency Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $2530 initial, $2300 Maint. ( as of the date of this newsletter)
Point Value: full point = $1250.00 ( Example: 114.650 to 115.650 ). Min fluctuation is 1/2 = $6.25 ( Example: 114.650 to 114.655)
Settlement: Deliverable, FND is last business day preceding the contract month
Months: March (H), May (K), July (N), September (U,) December(Z)
Weekly Options:YES
Euro Currency futures are a good market for Day Trading in my opinion because of the intraday range and movements. Be careful, these factors can work against you or in your favor.
Some of the basic fundamentals to keep in mind when you are considering a trade in the Euro Currency as well as other currencies:
1. When you are trading the Euro Currency or any other currency pair, you must be aware of Central Bank Risk, policy changes, Interest rate adjustments, Inflation expectations, prices of other commodities that may impact the health of a sovereign currency.
2. Dates and times of important reports for that specific country
3. Relationship with other currencies
4. Global Political situation
Our brokers here at Cannon will be happy to chat about the Euro Currency market, other currencies, other futures, options, futures spreads and much more!
Feel free to contact us at any time.
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 08/10 Fri |
7:30 AM CDT - Core CPI & CPI(Jul)
11:00 AM CDT - WASDE Report & Crop Production 1:00 PM CDT - Treasury Budget(Jul) |
LT: Aug Eurodollar Options(CME)
Sep Coffee Options(ICE) |
| 08/13 Mon |
|
LT: Aug Eurodollar(CME)
Aug Mx Peso(CME) |
| 08/14 Tue |
7:30 AM CDT - Export(ex-ag) & Import(ex-oil) Prices(Jul)
3:30 PM CDT - API Energy Stocks |
LT: Aug Lean Hogs(CME)
Aug Soybeans,Soymeal,Soyoil(CBT) Aug Lean Hogs Options(CME) |
| 08/15 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index
7:30 AM CDT - Empire Manufacturing(Aug) 7:30 AM CDT - Productivity-Prel(Q2) 7:30 AM CDT - Retail Sales(Jul) 7:30 AM CDT - Retail Sales Ex-Auto(Jul) 7:30 AM CDT - Unit Labor Costs-Prelim(Q2) 8:15 AM CDT - Capacity Util & Industrial Prod(Jul) 9:00 AM CDT - Business Inventories(Jun) 9:00 AM CDT - NAHB Housing Market Index(Aug) 9:30 AM CDT - EIA Petroleum Status Report 11:00 AM CDT - NOPA Crush 2:00 PM CDT - Dairy Products Sales 3:00 PM CDT - Net Long-Term TIC Flows(Jun) |
LT: Sep Platinum Options(NYM)
Sep Palladium Options(NYM) Sep Sugar-11 Options(ICE) |
| 08/16 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Building Permits & Housing Starts(Jul) 7:30 AM CDT - Philadelphia Fed(Aug) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
LT: Sep Crude Lt(NYM)
|
| 08/17 Fri |
9:00 AM CDT - Leading Indicators(Jul)
9:00 AM CDT - Univ of Mich Consumer Sentiment-Prelim(Aug) |
LT: Aug Nikkei Options(CME)
Aug Russell Options(CME) Sep Cotton Options(NYM) Sep Orange Juice Options(ICE) |
| 08/20 Mon |
2:00 PM CDT - Milk Production
|
FN: Sep Cocoa(ICE)
|
| 08/21 Tue |
3:30 PM CDT - API Energy Stocks
|
LT: Sep Crude Lt(NYM)
|
| 08/22 Wed |
6:00 AM CDT - MBA Mortgage Index
9:00 AM CDT - Existing Home Sales(Jul) 9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Cold Storage 2:00 PM CDT - Dairy Products Sales |
|
| 08/23 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims Weekly 8:00 AM CDT - FHFA Housing Price Index(Jun) 9:00 AM CDT - New Home Sales(Jul) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
FN: Sep Coffee(ICE)
Sep Crude Lt(NYM) |
| FN=First Notice, OE=Option Expiration, LT=Last Trade | ||
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!
