1. Top 50 Trading Rules: The Most Common Pitfalls To Avoid When Trading Commodity Futures
Five hundred experienced futures brokers were asked what caused most futures traders to lose money. Their answers reflected the trading experience of more than 10,000 futures traders.
You may recognize some of your strengths and weaknesses. Many of the reasons given
are very similar from broker to broker. The repetitions stand to demonstrate that, alas, many futures traders lose money for many of the same reasons.
Perhaps the statements of these experienced brokers can help you in the sometimes
fickle, often intricate, and always interesting marketplace of futures trading.
Here is what they said.
1. Many futures traders trade without a plan. They do not define specific risk and profit
objectives before trading. Even if they establish a plan, they "second guess" it and
don't stick to it, particularly if the trade is a loss. Consequently, they overtrade and
use their equity to the limit (are undercapitalized), which puts them in a squeeze and
forces them to liquidate positions. Usually, they liquidate the good trades and keep
the bad ones.
2. Many traders don't realize the news they hear and read has, in many cases, already
been discounted by the market. Download the PDF and find out what they said.
To download the "Top 50 Trading", please fill out this form.
Cannon Trading respects your privacy and will never give this information to a 3rd party.
2. Gold Futures Faking the Bulls - For Now
Despite recent moves, copper still has to prove something...that something would be a close above 247.70.
Gold Futures recently made a nice spike towards the $1200 mark and provided some false hope for the gold bulls as the market turned around and gave back almost all of its gains.
In the past gold was moved many times by fears of: (circle your favorite)
A. Inflation fears
B. Political unrest
C. Tight Supplies/ Governments selling their Gold
D. Public Affection
E. All of the Above
Well, all of these can be true at one point or another and were true at some point. As I am writing this towards the end of 2015, I believe that the main factor influencing gold right now from the fundamental point of view is technical...I get the feeling that until something big happens in the world (see points A through E above) that gold is pretty much NUM....it is reacting strictly to charts and large traders moves.
7:30 AM CST - Empire Manufacturing(Nov)
11:00 AM CST - NOPA Crush
FN: Nov Lumber(CME)
LT: Nov Eurodollar(CME)
Dec Sugar-11 Options(ICE)
7:30 AM CST - Core CPI & CPI(Oct)
8:15 AM CST - Capacity Util & Industrial Prod(Oct)
9:00 AM CST - NAHB Housing Market Index(Nov)
3:00 PM CST - Net Long-Term TIC Flows(Sep)
LT: Dec Crude Lt Options(NYM)
6:00 AM CST - MBA Mortgage Purchase Index
7:30 AM CST - Building Permits & Housing Starts(Oct)
9:30 AM CST - API & DOE Energy Stats
1:00 PM CST - FOMC Minutes
2:00 PM CST - Dairy Products Sales
LT: Dec Platinum Options(NYM)
Dec Palladium Options(NYM)
7:30 AM CST - USDA Weekly Export Claims
7:30 AM CST - Initial Claims-Weekly
9:00 AM CST - Leading Indicators(Oct)
9:00 AM CST - Philadelphia Fed(Nov)
9:30 AM CST - EIA Gas Storage
2:00 PM CST - Milk Production
3:30 PM CST - Money Supply
FN: Dec Coffee(ICE)
LT: Nov Feeder Cattle(CME)
Nov Feeder Cattle Option(CME)
2:00 PM CST - Cattle On Feed
LT: Dec Crude Lt(NYM)
Nov Nikkei Options(CME)
Nov DJIA Options(CME)
Nov S&P 500 Options(CME)
Nov E-Mini S&P 500 Options(CME)
Nov NASDAQ Options(CME)
Nov E-MINI NASDAQ Options(CME)
Nov Russell Options(CME)
Dec 2,5,10 Year Notes Options(CBT)
Dec Bonds Options(CBT)
Dec Canola Options(CBT)
Dec Corn Options(CBT)
Dec Oats Options(CBT)
Dec Wheat Options(CBT)
Dec Rough Rice Options(CBT)
Dec Soybeans,Soymeal,Soyoil Options(CBT)
Dec Orange Juice Options(ICE)
9:00 AM CST - Existing Home Sales(Oct)
2:00 PM CST - Cold Storage
FN: Dec Cotton(NYM)
* 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!