Posts Tagged ‘trade company’
Monday, August 16th, 2010
“‘The News can really Move the Futures Market”
Somewhat of a quiet day on the futures exchange to start the week after some volatile sessions last week. As I’ve said many times before, if a trader can recognize early enough during the trading session, what type of trading day is about to unfold, then one can use the proper day-trading technique more suitable for that day.
Some examples may include: join the trend on trending day, mean aversion techniques on choppy days and much more.
On a different note, I got a blue diamond for tomorrow’s session which can mean potential up day if the market can break above 1083.00 or….continued decline if it fails to gain some upside momentum. Daily chart for review below:
Futures & Commodity Trading Levels (Potential Support/Resistance):
This Week’s Calendar from Econoday.Com
All reports are EST time
Tuesday August 17th – http://mam.econoday.com/byweek.asp?cust=mam
E-Commerce Retail Sales
6:00 AM ET
ICSC-Goldman Store Sales
7:45 AM ET
Housing Starts
8:30 AM ET
Producer Price Index
8:30 AM ET
Redbook
8:55 AM ET
Industrial Production
9:15 AM ET
4-Week Bill Auction
11:30 AM ET
Narayana Kocherlakota Speaks
12:30 PM ET
Disclaimer:
This is not a solicitation of any order to buy or sell, but a current futures 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!
Tags: commodity, commodity brokers, commodity futures, commodity trading, day trading, e mini, futures broker, futures contract, futures exchange, futures market, futures quotes, futures trading, market widgets, online broker, online trading, options trading, S&P 500, trade company
Posted in Day Trading Webinar, Futures Exchange | No Comments »
Tuesday, August 10th, 2010
“‘The News can really Move the Futures Market”
FOMC tomorrow around 14:15 EST
FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow. If you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the futures market.
My observations suggest choppy, low volume up until announcement, followed by some some sharp volatile moves right during and after the announcement.
Futures & Commodity Trading Levels (Potential Support/Resistance):
This Week’s Calendar from Econoday.Com
All reports are EST time
Tuesday August 10th – http://mam.econoday.com/byweek.asp?cust=mam
NFIB Small Business Optimism Index
7:30 AM ET
ICSC-Goldman Store Sales
7:45 AM ET
Productivity and Costs
8:30 AM ET
Redbook
8:55 AM ET
Wholesale Trade
10:00 AM ET
4-Week Bill Auction
11:30 AM ET
3-Yr Note Auction
1:00 PM ET
FOMC Meeting Announcement
2:15 PM ET
Disclaimer:
This is not a solicitation of any order to buy or sell, but a current futures 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!
Tags: commodity, commodity brokers, commodity futures, commodity trading, day trading, e mini, futures broker, futures contract, futures exchange, futures market, futures quotes, futures trading, market widgets, online broker, online trading, options trading, S&P 500, trade company
Posted in Futures Exchange | No Comments »
Thursday, August 5th, 2010
“‘the futures market is possibly over bought”
Monthly unemployment numbers tomorrow before the cash open will provide the futures market with some direction and may get us out of this ‘summer low volume’ type of trading.
Plan your trade, trade your plan. Stay focused and ONLY try to day-trade when you are focused. Remember to stay disciplined and know that no one trade or trading day will determine your trading fate. Even when day-trading (which is a short term action), the end results is of long term progress effort and the sum of many trades.
On a different note, below is a daily chart of the Mini Dow Jones. I got a red diamond ahead of tomorrows session. For me, that means that ‘the futures market is possibly over bought ‘. The way I like to play this set up is that if we break below 10550, we have a chance for a stronger move down. On the other hand, if we can keep above it, we may see 10720 soon.
Futures & Commodity Trading Levels (Potential Support/Resistance):
This Week’s Calendar from Econoday.Com
All reports are EST time
Friday August 6th – http://mam.econoday.com/byweek.asp?cust=mam
Employment Situation
8:30 AM ET
Consumer Credit
3:00 PM ET
Disclaimer:
This is not a solicitation of any order to buy or sell, but a current futures 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!
Tags: commodity, commodity brokers, commodity futures, commodity trading, day trading, e mini, futures broker, futures contract, futures exchange, futures market, futures quotes, futures trading, market widgets, online broker, online trading, options trading, S&P 500, trade company
Posted in Futures Broker, Futures Exchange | No Comments »
Tuesday, August 3rd, 2010
“The Current Uptrend is Strong”
Daily chart of Mini Dow Jones futures contract for your review below with possible Elliot Wave scenarios. The 82 reading suggest the current uptrend is strong. If the 3rd wave we are in will continue than next target will be 10723. If the market pulls back first to possible 4th wave, support is at 10490. Of course, when its all said and done what matters most is price action and not what we want or hope the market will do.
Futures & Commodity Trading Levels (Potential Support/Resistance):
This Week’s Calendar from Econoday.Com
All reports are EST time
Friday August 6th – http://mam.econoday.com/byweek.asp?cust=mam
Employment Situation
8:30 AM ET
Consumer Credit
3:00 PM ET
Disclaimer:
This is not a solicitation of any order to buy or sell, but a current futures 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!
Tags: commodity, commodity brokers, commodity futures, commodity trading, day trading, e mini, futures broker, futures contract, futures exchange, futures market, futures quotes, futures trading, market widgets, online broker, online trading, options trading, S&P 500, trade company
Posted in Futures Exchange | No Comments »
Monday, August 2nd, 2010
“Todays session was classic example of a summer trading session”
Fairly boring trading day on the futures market. Low volume and overall not many set ups after initial move up ….It is what it is. As a futures trader, know what market environment you are in and don’t try to force trades if you don’t have the set ups you are looking for. Some days, the market provides better opportunities than others, sometimes it provides many more risks. Patience is key. No trade is better than a bad trade.
Futures & Commodity Trading Levels (Potential Support/Resistance)
This Week’s Calendar from Econoday.Com
All reports are EST time
Tuesday August 3rd – http://mam.econoday.com/byweek.asp?cust=mam
Motor Vehicle Sales
ICSC-Goldman Store Sales
7:45 AM ET
Personal Income and Outlays
8:30 AM ET
Redbook
8:55 AM ET
Factory Orders
10:00 AM ET
Pending Home Sales Index
10:00 AM ET
4-Week Bill Auction
11:30 AM ET
Disclaimer:
This is not a solicitation of any order to buy or sell, but a current futures 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! (more…)
Tags: commodity, commodity brokers, commodity futures, commodity trading, day trading, e mini, futures broker, futures contract, futures exchange, futures market, futures quotes, futures trading, market widgets, online broker, online trading, options trading, S&P 500, trade company
Posted in Futures Exchange | No Comments »
Friday, July 30th, 2010
“GOOD TRADING!”
Wishing all of you a great trading month during August 2010! Enjoy the weekend, clear your mind from trading emotions and recharge for the new week / month.
Futures & Commodity Trading Levels (Potential Support/Resistance):
This Week’s Calendar from Econoday.Com
All reports are EST time
Monday August 2nd – http://mam.econoday.com/byweek.asp?cust=mam
ISM Mfg Index
10:00 AM ET
Construction Spending
10:00 AM ET
4-Week Bill Announcement
11:00 AM ET
3-Month Bill Auction
11:30 AM ET
6-Month Bill Auction
11:30 AM ET
Disclaimer:
This is not a solicitation of any order to buy or sell, but a current futures 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!
Tags: commodity, commodity brokers, commodity futures, commodity trading, day trading, e mini, futures broker, futures contract, futures exchange, futures market, futures quotes, futures trading, market widgets, online broker, online trading, options trading, S&P 500, trade company
Posted in Futures Exchange | No Comments »
Friday, July 30th, 2010
“Last Trading day of the month tomorrow.”
At any time traders, especially self directed futures traders, must be aware of first notice day, last trading, economic reports etc.
Tomorrow is first notice day for August Gold futures contract – As your futures and commodity broker we try our best to keep many of you informed via this daily blog but always make sure you contact your futures broker with any questions you may have.
Daily chart of September e-mini Dow Jones below for review. I am not sure about direction to be honest. Both bulls and bears have a case and at this point we are trading in a band between 10293 and 10536, which is a wide trading range.
Trading Levels:
This Week’s Calendar from Econoday.Com
All reports are EST time
Friday July 30th – http://mam.econoday.com/byweek.asp?cust=mam
GDP
8:30 AM ET
Employment Cost Index
8:30 AM ET
Chicago PMI
9:45 AM ET
Consumer Sentiment
9:55 AM ET
Farm Prices
3:00 PM ET
Disclaimer:
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!
Tags: commodity, commodity brokers, commodity futures, commodity trading, day trading, e mini, futures broker, futures contract, futures exchange, futures market, futures quotes, futures trading, market widgets, online broker, online trading, options trading, S&P 500, trade company
Posted in Futures Broker | No Comments »
Wednesday, July 28th, 2010
“The Dow Jones Average is leading the way”
Market made recent highs overnight, backed down and managed to close un-changed.
I think with this recent move, it is the Dow Jones average which is leading the way.
Below is a daily chart of the mini Dow Jones futures along with some Fibonacci levels.
My speculation is that an hourly close during the day session tomorrow above 10520 can trigger 10760,
on the flip side, an hourly close below 10435 can bring 10320 much closer.
Trading Levels:
This Week’s Calendar from Econoday.Com
All reports are EST time
Wednesday July 28th – http://mam.econoday.com/byweek.asp?cust=mam
MBA Purchase Applications
7:00 AM ET
Durable Goods Orders
8:30 AM ET
EIA Petroleum Status Report
10:30 AM ET
5-Yr Note Auction
1:00 PM ET
Beige Book
2:00 PM ET
Disclaimer:
Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
Tags: commodity, commodity futures, commodity trading, day trading, e mini, futures broker, futures contract, futures exchange, futures market, futures quotes, futures trading, market widgets, online broker, online trading, options trading, S&P 500, trade company
Posted in Futures Exchange | No Comments »
Monday, July 26th, 2010
“Today’s futures trading session was lower volume”
Well like I said before, each day-trading session in the commodities and futures markets can wear a different dress….Today’s trading session was lower volume, indecisive to start with but with enough intra-day swings in price action to provide some trading set ups.
I mentioned before in this blog as well as in my day-trading webinar that if a trader can get an early sense to the type of trading day that is about to unfold, he/ she can really increase their chances by using methods/ indicators and set ups that work better for the different trading days ( trending, choppy, volatility on both sides etc.)
In between, below you will see a daily chart of the mini SP 500 with what may be some resistance levels on the way up and possible support levels if we decide to turn around and head back south ( last week we had more than a few changes in market direction)
If you like to see what my INTRADAY chart looks like, live during the trading session, sign up for my Live Day Trading Webinar:
Live Day Trading Webinar
Trading Levels:
This Week’s Calendar from Econoday.Com
All reports are EST time
Tuesday July 27th – http://mam.econoday.com/byweek.asp?cust=mam
ICSC-Goldman Store Sales
7:45 AM ET
Redbook
8:55 AM ET
S&P Case-Shiller HPI
9:00 AM ET
Consumer Confidence
10:00 AM ET
State Street Investor Confidence Index
10:00 AM ET
4-Week Bill Auction
11:30 AM ET
52-Week Bill Auction
11:30 AM ET
2-Yr Note Auction
1:00 PM ET
Disclaimer:
Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
Tags: commodity, commodity futures, commodity trading, day trading, e mini, futures broker, futures contract, futures exchange, futures market, futures quotes, futures trading, market widgets, online broker, online trading, options trading, S&P 500, trade company
Posted in Day Trading Webinar | No Comments »
Thursday, July 22nd, 2010
One Way to Eliminate Fear and Greed While Day Trading
It is a known fact that fear and greed can be a trader’s worst enemies. I’ve found one way that has helped some clients deal with fear and greed and their cousin, “getting out of winners too soon and staying in losers too long.”
What is it? Entering multiple contracts.
In order to enter multiple contracts while day trading, one has to have the appropriate risk capital and margin requirements. But the advantage of trading more than one “unit” or splitting your trading size into two or more parts is as such:
If you enter a trade with one contract (or if you are treating your trading size as one unit, meaning you enter a trade with 4 contracts and exit the trade with 4 contracts), you can face a very quick dilemma (especially when day-trading). Consider the two following scenarios:
1. You get in and very quickly you are up 2 mini SP points…what do you do? Do you take profit? Bring your stop loss closer? How do you avoid getting out too early or too late?
2. You enter a trade and it goes against you rather quickly…if you get out then it is a loser…but the little voice in your head says “what if the market goes back up?”
In the first case scenario, when market decided to be nice to us and moved in our direction, I like to exit half of my positions relatively quickly. In the case of the mini SP, this would be around 7 ticks profit.
What I’ve found is that this will allow me to manage the rest of the trade in a much more relaxed manner. Since I’ve already locked profits in, now I can look for a proper stop close to my break-even level. I can analyze my next target more realistically and, if the market provides room for additional gains, be there to participate.
If you like to see what my INTRADAY chart looks like, live during the trading session, sign up for my Live Day Trading Webinar:
Live Day Trading Webinar
Trading Levels:
This Week’s Calendar from Econoday.Com
All reports are EST time
Friday July 23rd – http://mam.econoday.com/byweek.asp?cust=mam
MBA Purchase Applications
7:00 AM ET
Ben Bernanke Speaks
10:00 AM ET
EIA Petroleum Status Report
10:30 AM ET
Disclaimer:
Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
Tags: commodity, commodity futures, commodity trading, day trading, e mini, futures broker, futures contract, futures exchange, futures market, futures quotes, futures trading, market widgets, online broker, online trading, options trading, S&P 500, trade company
Posted in Day Trading Webinar | No Comments »
