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April 12th, 2019 Newsletter

Trading 101 educational article The path to emotional control and gold futures trading in a range but still volatile.

April 12th, 2019 - Issue #961

In This Issue

1. Trading 101: The Path to Emotional Control
2. Hot Market Report: Gold futures volatile within a trading range
3. Economic Calendar

Next Friday is Good Friday. Markets will have modified trading hours and most are closed Friday, April 19th.

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1. Trading 101: The Path to Emotional Control

Source: Mind Muscles for Traders

By Rich Friesen

Traders have a major problem. After over two decades of trading on the floors in Chicago and San Francisco, building my own options and equity trading firm, training traders to trade my own capital, coaching traders, building trading courses, and facilitating online mastermind groups, it has become obvious that most traders have a major problem.

The path to trading mastery is often sabotaged by subconscious emotions we bring to the market. I have seen the subconscious emotions and desires cost big money, not only for myself, but the traders in my own firm. That doesn’t even start to add up the millions lost by other floor traders whose emotional biases have limited their own profits.

As I work with independent traders, I see these “Mind Traps” preventing smart, experienced, and determined traders sabotaged by what they don’t know. And by that I mean what they don’t know about the subconscious emotional patterns in their brains that are preventing them from getting the success they want.

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Path to Emotional Control

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2. Hot Market Report: Gold Stuck in a Range

By Ilan Levy-Mayer, VP

Click on image below to enlarge

GC futures;

Since gold broke above $1350 briefly towards the end of February, it has been retracing lower and been on the defensive side of trading. The big question - is this a pullback within a larger uptrend or is this a beginning of a new lower trend? As always time has the answers and all that we can do is try to trade using our own projections and methods. Gold has been watching the US $ index very closely and been moving inversely of the $$. The second factor affecting both is obviously the interest rates outlook that went from possibly more hikes in 2019 a few months back to possibly even lowering rates before the end of the year

Daily chart from this morning, (Apr. 12th 2019). As you can see the market has been in a range for the last few weeks and we have seen good moves on a daily basis which for some may present opportunities and risks for day-trading. Major support at 1285. Immediate resistance at 1315. At this point I like the idea of selling both short terms calls and puts while buying further out calls/puts with further out expiration - as long as I can collect a credit for these spreads. This is a more advanced type of trade and it is highly recommended to discuss specifics with a licensed broker first.

This chart was prepared using CQG Q Trader software, which you can demo for 14 days with real time data.
To access a free trial to the ALGOS shown in the chart ( "early trend identifier" included) along with other tools, visit and sign up for a free trial for 21 days with real time data.


GOLD Futures Specs
Hours: 05:00 PM previous day to 4:00 PM Central Time
Margins: $4700 initial, $4100 Maint. ( as of the date of this newsletter)
Point Value: full point = $100 ( Example: 1285.0 to 1286.0 ). Min fluctuation is 0.1 = $10 ( Example: 1285.5 to 1285.6) Settlement: Physical Delivery
Months: February, April, June, August, October,December. G,J,M,Q,V,Z
Weekly Options:YES

Some of the basic fundamentals to keep in mind when you are considering trading gold futures for this matter:
1. Research supply side in major producing countries.
2. Follow both the jewelry demand and investment demand for silver
3. Focus in macroeconomics not microeconomics
4. Correlation to silver and platinum
5. Correlation to US Dollar prices
6. Inflationary prospects
7. Geopolitical Stability
8. U.S. Fiscal and Monetary Stability

Our brokers here at Cannon will be happy to chat about the gold market, other metals, other futures, options, futures spreads and much more! Feel free to contact us at any time.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
04/11
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Core PPI & PPI(Mar)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply

 
 
 
 
04/12
Fri
7:30 AM CDT - Export & Import Prices(Mar)
7:30 AM CDT - Export(ex-ag) & Import(ex-oil)Prices(Mar)
9:00 AM CDT - Univ of Mich Consumer Sent-Prelim(Apr)
 
LT: Apr Lean Hogs(CME)
Apr Lean Hogs Options(CME)
Apr Eurodollar Options(CME)
May Cotton Options(NYM)
May Coffee Options(ICE)

04/15
Mon
7:30 AM CDT - Empire State Manufacturing(Apr)
11:00 AM CDT - NOPA Crush
3:00 PM CDT - Net Long-Term TIC Flows(Feb)
 
LT: Apr Eurodollar(CME)
Apr Mx Peso(CME)
May Sugar-11 Options(ICE)
04/16
Tue
7:30 AM CDT - Retail Sales(Mar)
7:30 AM CDT - Retail Sales Ex-Auto(Mar)
8:15 AM CDT - Capacity Util & Industrial Prod(Mar)
9:00 AM CDT - Business Inventories(Feb)
3:30 PM CDT - API Energy Stocks
FN: May Cocoa(ICE)
LT: May Crude Lt Options(NYM)
 
 
04/17
Wed
6:00 AM CDT - MBA Mortgage Index
7:30 AM CDT - Building Permits & Housing Starts(Mar)
9:30 AM CDT - EIA Petroleum Status Report
1:00 PM CDT - Fed's Beige Book(Apr)
2:00 PM CDT - Dairy Products Sales
LT: May Platinum Options(NYM)
May Palladium Options(NYM)

 
04/18
Thu
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Philadelphia Fed Index(Apr)
9:00 AM CDT - Leading Indicators(Mar)
9:30 AM CDT - EIA Natural Gas Report
11:00 AM CDT - Cattle On Feed
3:30 PM CDT - Money Supply
LT: Apr Feeder Cattle(CME)
Apr Feeder Cattle Options(CME)
May Orange Juice Options(ICE)
04/19
Fri
GOOD FRIDAY
 
 
 
LT: Apr Nikkei Options(CME)
 
 
 
04/22
Mon
9:00 AM CDT - Existing Home Sales(Mar)
 
 
 
FN: May Coffee(ICE)
LT: May Crude Lt(NYM)
 
 
04/23
Tue
8:00 AM CDT - FHFA Housing Price Index(Feb)
9:00 AM CDT - New Home Sales(Mar)
3:30 PM CDT - API Energy Stocks
 

 
 
 
04/24
Wed
6:00 AM CDT - MBA Mortgage Index
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Dairy Products Sales
 
FN: May Cotton(NYM)
May Crude Lt(NYM)

 
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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