Top 50 Trading Rules and Gold Bulls Back in Control

July 28th, 2017 Newsletter

More than a 100 futures traders and brokers were interviewed and asked for top trading mistakes, hopefully you can learn futures trading mistakes from others! Gold futures chart outlook post FOMC

July 28th 2017 - Issue #886

In This Issue

1. Trading 101: Top 50 Trading Rules
2. Hot Market Report: The Gold Market Has Caught Fire Late This Week
3. Economic Calendar

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.

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2. Hot Market: The Gold Market Has Caught Fire Late This Week

From our friend Jim Wyckoff at

Click on image below to enlarge

gold futures; The gold market hit a six-week high late this week and the bulls are back in business. More sideways-to-higher price action is likely in the near term. Stay tuned!

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
7:30 AM CDT - Durable Goods Ex-Transportation(Jun)
7:30 AM CDT - Durable Orders(Jun)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply
LT: Jul Copper(CMX)
Jul Gold & Silver(CMX)
Jul Platinum & Palladium(NYM)
Aug Natural Gas(NYM)
7:30 AM CDT - Chain Deflator-Adv(Q2)
7:30 AM CDT - Employment Cost Index(Q2)
7:30 AM CDT - GDP-Adv(Q2)
7:30 AM CDT - GDP Deflator(Q2)
9:00 AM CDT - Michigan Sentiment-Final(Jul)
FN: Aug Natural Gas(NYM)
8:45 AM CDT - Chicago PMI(Jul)
9:00 AM CDT - Pending Home Sales(Jun)
FN: Aug Copper(CMX)
Aug Gold & Silver(CMX)
Aug Platinum & Palladium(NYM)
Aug Soybeans,Soymeal,Soyoil(CBT)
LT: Jul Fed Funds(CME)
7:30 AM CDT - Personal Income & Spending(Jun)
7:30 AM CDT - PCE Prices(Jun)
7:30 AM CDT - PCE-Price Core(Jun)
9:00 AM CDT - Construction Spending(Jun)
9:00 AM CDT - ISM Index(Jul)
1:00 PM CDT - Auto & Truck Sales(Jul)
2:00 PM CDT - Cotton System
2:00 PM CDT - Fats & Oils
2:00 PM CDT - Grain Crushings
3:30 PM CDT - API Energy Stocks
LT: Jul Butter(CME)
Jul Milk(CME)
Jul Butter Options(CME)
Jul Milk Options(CME)
6:00 AM CDT - MBA Mortgage Applications Index
7:15 AM CDT - ADP Employment Change(Jul)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Dairy Products Sales
6:30 AM CDT - Challenger Job Cuts(Jul)
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly
9:00 AM CDT - Factory Orders(Jun)
9:00 AM CDT - ISM Services(Jul)
9:30 AM CDT - EIA Natural Gas Report
3:30 PM CDT - Money Supply

7:30 AM CDT - Nonfarm Payrolls(Jul)
7:30 AM CDT - Unemployment Rate(Jul)
7:30 AM CDT - Ave Workweek & Hourly Earnings(Jul)
7:30 AM CDT - Trade Balance(Jun)
LT: Aug Canadian Dollar Options(CME)
Aug Currencies(CME)
Aug Live Cattle Options(CME)
Aug Mx Peso Options(CME)
Aug US Dollar Options(ICE)
Sep Cocoa Options(ICE)

3:00 PM CDT - Consumer Credit(Jun)
FN: Aug Live Cattle(CME)
3:30 PM CDT - API Energy Stocks
LT: Sep Sugar-16(ICE)
6:00 AM CDT - MBA Mortgage Purchase Index
7:30 AM CDT - Productivity-Prel(Q2)
9:00 AM CDT - Wholesale Inventories(Jun)
9:30 AM CDT - EIA Petroleum Status Report
2:00 PM CDT - Dairy Products Sales
FN: Sep Sugar-16(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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