February 16th, 2018 Newsletter

10 key questions that will help you Measure Your Trading Progress along with Gold Futures chart and trading Outlook

February 16, 2018 - Issue #910

In This Issue

1. Trading 102: Measuring Your Trading Progress
2. Hot Market Report: Gold Futures Shining
3. Economic Calendar

President's Day Hoiliday this Monday. Markets will have modified trading hours and some are closed.

1. Trading 102: 10 Key Questions on Measuring Your Trading Progress, Success

At some point in nearly everyone’s trading timelines, they wonder how their trading successes (or failures) compare with those of other traders. Wondering just how well you stack up to other traders in the industry is a natural curiosity and a human psychological tendency. However, actually knowing the success or failure rates of others doesn’t do a lot to move you farther down the road of where you want to be regarding trading success.

Most traders also wonder about the success rates of the “professional” traders—the ones who make their living solely by the profits they generate from trading. I will provide you with an answer to this question at the end of this feature.

Below are 10 questions regarding measuring your own trading progress and success. These questions should help you determine where you stand in this challenging field of endeavor.

1. What is trading “success?” This is a most basic question. Most would agree that ultimate trading success is defined as being profitable at trading—making more money than you lose. There are other secondary factors that also define success in trading, such as finding a “balance” between trading and other life activities. But it’s being profitable at trading that is the benchmark of defining success.

2. What is trading “progress?” Beginning traders should not expect to have immediate and ultimate success trading futures, stocks or FOREX markets. What they can expect in the early going is to make steady progress through gaining knowledge and experience. Even veteran successful traders continue to make trading progress. Achieving and maintaining trading success requires continual progress—namely continuing to seek out trading and market knowledge. Traders who truly enjoy the “progress” and process of trading do have a significant trading edge over those who do not enjoy learning and gaining experience.

3. At what point in my trading timeline should I expect trading “success?” Trading success (winning trades) can come right away—even for the beginning traders. What is less likely for the inexperienced traders is sustained trading success. Beginners can even run into a “hot streak” that skews the overall reality of trading. Immediate (and likely fleeting) success for a beginning futures trader can do longer-term psychological harm—if he or she does not fully recognize and understand the hard work and perseverance required on the road to trading success. Many times I get questions from less-experienced traders that go something like this: “I’ve been trading two years and I’ve only been able to about break even.”  My reply to them is, “Hey, you should not be too discouraged with those results. Many traders don’t have that kind of success in the early going.”

Please fill out the form below to read the remaining article.

Measuring Progress

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2. Hot Market Report: Gold Futures Shining?

By Ilan Levy-Mayer, VP

Click on image below to enlarge

gold futures; Gold futures have been enjoying some good upside movement in the last few weeks and months. To some degree the old "safe haven status" comes into play with the recent volatility in the stock market but mostly it is the recent weakness in US $ that helps the yellow metal shine a bit brighter now days. Recent highs at 1371 play major resistance for now. If we close above this level, we may see another leg up. Our brokers here at Cannon will be happy to chat about the gold market and other, market outlook and possible trading strategies and much more! Feel free to contact us at any time.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
02/16
Fri
7:30 AM CST - Building Permits & Housing Starts(Jan)
7:30 AM CST - Export(ex-ag) & Import(ex-oil) Prices(Jan)
9:00 AM CST - Univ of Mich Consumer Sentiment-Prelim(Feb)
 
LT: Feb Mx Peso(CME)
Feb Nikkei Options(CME)
Feb Eurodollar Options(CME)
Feb Russell Options(CME)
Mar Orange Juice Options(ICE)
02/19
Mon
PRESIDENTS DAY
 
 
 
LT: Feb Eurodollar(CME)
 
 
 
02/20
Tue

 
 
 
FN: Mar Coffee(ICE)
LT: Mar Crude Lt(NYM)
 
 
02/21
Wed
6:00 AM CST - MBA Mortgage Applications Index
9:00 AM CST - Existing Home Sales(Jan)
3:30 PM CST - API Energy Stocks
 
LT: Mar Platinum Options(NYM)
Mar Palladium Options(NYM)

 
02/22
Thu
7:30 AM CST - Initial Claims-Weekly
9:00 AM CST - Leading Indicators(Jan)
9:30 AM CST - EIA Natural Gas Report
10:00 AM CST - EIA Petroleum Status Report
2:00 PM CST - Cold Storage & Annual
2:00 PM CST - Dairy Products Sales
3:30 PM CST - Money Supply
FN: Mar Cotton(NYM)
Mar Crude Lt(NYM)
LT: Mar Copper Options(CMX)
Mar Gold Options(CMX)
Mar Silver Options(CMX)
02/23
Fri
7:30 AM CST - USDA Weekly Export Sales
2:00 PM CST - Cattle On Feed
 
 
LT: Mar 2,5,10 Year Notes Options(CBT)
Mar Bonds Options(CBT)
Mar Canola Options(CBT)
Mar Wheat Options(CBT)
Mar Corn Options(CBT)
Mar Oats Options(CBT)
Mar Rough Rice Options(CBT)
Mar Soybeans,Soymeal,Soyoil Options(CBT)
Mar Natural Gas Options(NYM)
Mar RBOB & ULSD Options(NYM)
02/26
Mon
7:30 AM CST - New Home Sales(Jan)
2:00 PM CST - Trout Production
 
 
LT: Feb Copper(CMX)
Feb Gold(CMX)
Feb Silver(CMX)
Feb Platinum(NYM)
Feb Palladium(NYM)
Mar Natural Gas(NYM)
02/27
Tue
7:30 AM CST - Durable Goods-Ex Transportation(Jan)
7:30 AM CST - Durable Orders(Jan)
8:00 AM CST - FHFA Housing Price Index(Dec)
9:00 AM CST - Consumer Confidence(Feb)
3:30 PM CST - API Energy Stocks
FN: Mar Natural Gas(NYM)
LT: Feb Butter(CME)
Feb Milk(CME)
Feb Butter Options(CME)
Feb Milk Options(CME)
02/28
Wed
6:00 AM CST - MBA Mortgage Applications Index
7:30 AM CST - GDP Deflator-Second Estimate(Q4)
9:00 AM CST - Pending Home Sales(Jan)
9:30 AM CST - EIA Petroleum Status Report
2:00 PM CST - Dairy Product Sales
FN: Mar 2,5,10 Year Notes(CBT)
Mar Bonds(CBT)
Mar Copper(CMX)
Mar Gold & Silver(CMX)
Mar Platinum & Palladium(NYM)
Mar Canola(CBT)
Mar Wheat(CBT)
Mar Corn(CBT)
Mar Oats(CBT)
Mar Rough Rice(CBT)
Mar Soybeans,Soymeal,Soyoil(CBT)
LT: Feb Fed Funds(CME)
Feb Live Cattle(CME)
Mar RBOB & ULSD(NYM)
Mar Sugar-11(ICE)
Feb Fed Funds Options(CME)
Mar Lumber Options(CME)


03/01
Thu
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly
7:30 AM CST - PCE Prices(Jan)
7:30 AM CST - PCE Prices-Core(Jan)
7:30 AM CST - Personal Income & Spending(Jan)
9:00 AM CST - ISM Index(Feb)
9:00 AM CST - Construction Spending(Jan)
9:30 AM CST - EIA Natural Gas Storage
1:00 PM CST - Auto & Truck Sales(Feb)
2:00 PM CST - Cotton System & Annual
2:00 PM CST - Fats & Oils & Annual
2:00 PM CST - Grain Crushings & Annual
3:30 PM CST - Money Supply
FN: Mar Orange Juice(ICE)
Mar Sugar-11(ICE)

 
FN=First Notice, OE=Option Expiration, LT=Last Trade

Disclaimer: This calendar is compiled from sources believed to be reliable. Moore Research Center, Inc. assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The release dates for certain economic reports may have been rescheduled.

* 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!

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