October 9th, 2015 - Issue #804
In This Issue
1. Trading 202: Pivotal Keys to Day Trading futures...
2. Hot Market Report: Crude Oil Futures Attempting to Break Higher
3. Economic Calendar
1. The Most Important Keys to Day Trading Futures (and any other assets)
By: Ilan Levy-Mayer, Cannon Trading Vice President
It is my personal opinion that sooner or later many traders find a method, trading approach that has a valid chance of producing profits, yet most traders end up losing money....Why? There are many answers to this question but the MAIN key in my opinion is money management.
I came up with what I consider a simple, black & white, calculated method that each trader can apply to their trading and if you have the discipline to stick to the game plan, I honestly believe you will increase your chances of succeeding in day trading.
This article was published by the Stocks, Futures, & Options Magazine in September, 2007 and was written by our VP, Ilan Levy-Mayer. We think this article is timeless and whether you are beginner or advanced trader, you will enjoy it. Perhaps the greatest luxury I have in this business is the ability to observe the experiences of many traders with different personalities, life schedules and risk capital, each trading in a variety of markets. What most astute brokers realize is that, over time, as some individuals prematurely exit winners while others desperately cling to losers, day trading is by definition a trade that is initiated and completed during the same trading day. In this wide category, you will find many types of traders. On one end of the spectrum are scalpers, who go for one or two ticks of profit several times a day in trades lasting just seconds. On the other side are speculators who stay in a position from the start of the day until the close. One of the main appeals of day trading for all types is that the trader goes home flat without having to worry about positions. When the market closes, the day is done. Money management, as the name implies, is applying prudent principles to help conserve your trade (risk) capital. Without risk capital to trade, a speculator does not have a chance to succeed.
Please fill out the form below to download the “Survivor Day trading” PDF and read about:
*Fear and Greed
*Calculating daily profit targets and daily loss limits
*Position Size and more ...
Read Full Article
Cannon Trading respects your privacy and will never give this information to a 3rd party.2. Hot Market Report: Ultra T Bonds - Bull Trend Acceleration
From our friend Jim Wyckoff at JimWyckoff.com
Click on image below to enlarge
he Nymex crude oil futures market this week popped higher and hit a five-week high--to produce a bullish upside "breakout" from a sideways trading range on the daily bar chart. This is one early clue that crude oil prices could be embarking on a fresh price uptrend. However, the bulls must now confront stiff overhead chart resistance at the $50.00-a-barrel level. A close above $50 would give the bulls fresh momentum to better suggest a near-term price uptrend can be sustained.
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 10/12 Mon |
COLUMBUS DAY 1:00 PM CDT - Treasury Budget(Sep) |
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| 10/13 Tues |
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| 10/14 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index 7:30 AM CDT - Core PPI & PPI(Sep) 7:30 AM CDT - Retail Sales(Sep) 7:30 AM CDT - Retail Sales-Ex Auto(Sep) 9:00 AM CDT - Business Inventories(Aug) 1:00 PM CDT - Fed's Beige Book(Oct) |
LT: Oct Lean Hogs(CME) Oct Soymeal(CBT) Oct Soyoil(CBT) Oct Lean Hogs Options(CME |
| 10/15 Thurs |
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Core CPI & CPI(Sep) 7:30 AM CDT - Empire Manufacturing(Oct) 9:00 AM CDT - Philadephia Fed(Oct) 9:30 AM CDT - EIA Gas Storage 10:00 AM CDT - API & DOE Energy Stats 11:00 AM CDT - NOPA Crush 2:00 PM CDT - Dairy Products Sales |
LT: Nov Crude Lt Options(NYM) Nov Sugar-11 Options(ICE) |
| 10/16 Fri |
7:30 AM CDT - USDA Weekly Export Sales 8:15 AM CDT - Capacity Util & Industrial Prod(Sep) 9:00 AM CDT - JOLTS-Job Openings(Aug) 9:00 AM CDT - Mich Sentiment(Oct) 3:00 PM CDT - Net Long-Term TIC Flows(Aug) |
LT: Oct Nikkei Options(CME) Oct DJIA Options(CME) Oct S&P 500 Options(CME) Oct E-Mini S&P 500 Options(CME) Oct NADAQ Options(CME) Oct E-Mini NASDAQ Options(CME) Oct Russell Options(CME) Nov Cotton Options(NYM) Nov Orange Juice Options(ICE) |
| 10/19 Mon |
9:00 AM CDT - NAHB Housing Market Index(Oct) |
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* 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!
