Top 5 Trading Mistakes Beginners Often make | Cannon Trading

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

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Top 5 Mistakes Beginners Should Avoid Making + ES Daily Chart & Futures Levels 9.22.2020

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Dear Traders,

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Trading 101: Top 5 Trading Mistakes Beginners Should Avoid Making
Trading Futures Is A Tough Business, Especially Because There Are Many Different Trading Mistakes, But If You Are One Of The Very Few That Can Succeed, This Could Be A Lucrative Business As Well
I have seen quite a bit since I became a broker in 1998. Some war stories to share about the markets, some crazy moves and much more in between. I was trading futures with clients on the sad Sept. 11th 2001 day when the planes hit and the markets were plunging before they were closed for almost a week. I witnessed the meat contracts making limit up and limit down moves over the years and much more…..
As a commodity broker I have observed MANY traders, many of them were new traders, and this allows me to share with you some valuable observations I hope will help you start your futures trading journey on a much smoother road than most.
Here are the FIVE CRUCIAL TRADING MISTAKES you need to avoid!
I shared the Mini SP 500 chart below this past Friday on our weekly newsletter. You can see the chart and outlook provided last week HERE.
Below is the updated chart after today’s price action for your review – click here to enlarge image.
3308 is now first resistance above. 3127 major support below as well as the 3180’s level which were the lows at the end of July.
trading mistakes

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 when it comes to Futures Trading.

 

Futures Trading Levels

9-22-2020

Trading Mistakes

Economic Reports, source: 

https://forexfactory.com

Trading Mistakes

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 here in 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 judgement in trading.

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RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
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