September 13th, 2019 - Issue #981

In This Issue

1. Futures Trading 101: Knowing What You Don't Know in Trading Markets
2. Hot Market Report: Gold Monthly Chart
3. Economic Calendar

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1. Futures Trading 101: Knowing What You Don't Know in Trading Markets

From our friend Jim Wyckoff at JimWyckoff.com

The headline of this educational feature may be a bit confusing, but I will explain what I mean shortly. First, I want to reiterate that trading futures, stock and FOREX markets is not an easy undertaking. It disgusts me that there are a few unsavory people in our industry that portray trading as an easy, get-rich-quick scheme, or as some endeavor for which there are “secrets” to be learned from those who hold “trading secrets.”

Folks, the plain truth is that there are no trading secrets and no easy paths to quick success in trading markets. Beware of anyone who tries to tell (or sell) you such. One of the biggest obstacles to success in trading markets is a lack of knowledge and understanding of the process of trading. The “process of trading” includes understanding financial leverage, market behavior and trader psychology. Understanding the process of trading can be achieved with perseverance and a willingness to continue to learn.

It’s not coincidental that trading markets is similar to most other human endeavors: Hard work and experience are required to achieve notable success. A person who enjoys classic automobiles would not attempt to tear down and successfully rebuild an engine without having some previous experience, or without having learned about the workings of an automobile engine—including knowing about the tools involved in the operation.

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2. Hot Market Report: Hot Market Report: Gold Monthly Chart

Click on image below to enlarge

This week’s highlighted Market is Gold. Gold is part of the Precious Metals sector along with its brothers Platinum, Palladium, Silver and Copper.. All traded on the COMEX and NYMEX exchanges.

According to the London Bullion Market Association, gold's recent rally is evidence of many placing hedges to protect the value of their pound sterling deposits in the event of a Brexit event on October 31st, "The pound staged a recovery and gold prices have tailed off, after members of parliament took steps to prevent Mr. Johnson from Taking the U.K. out of the EU without a deal", Outside of Brexit, the E.U. has begun a new bond buying program to further stimulate the E.U. economy. Central bank policy shifts toward monetary easing tend to buoy precious metals prices. In addition to recessionary fears here in the U.S. and other industrialized nations, instability in Sino-Hong Kong relations also are supportive factors for the yellow metal.

3. Economic Calendar

Source: Moore Research Center, Inc.

* 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!