Enhance your trading with a series of short videos on topics such as range bars, support & resistance, parabolics, price confirmation and much more. We also take a look at a weekly chart of the soybeans futures market.
In This Issue
1. Top 50 Trading Rules: The Most Common Pitfalls To Avoid When Trading Commodity Futures
2. Hot Market: Gold Starting to Shine Brighter
3. Economic Calendar
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.
From our friend Jim Wyckoff at JimWyckoff.com
Click on image below to enlarge
The gold market pushed to a 2.5-month high late this week. Short covering and safe-haven demand are driving the yellow metal higher.
Bulls have momentum on their side but 1228.0 is a strong resistance level in the short term.. Make 2017 a great year!!
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 02/03 Fri |
7:30 AM CST - Ave Workweek & Hourly Earnings(Jan)
7:30 AM CST - Nonfarm Payrolls(Jan) 7:30 AM CST - Unemployment Rate(Jan) 9:00 AM CST - Factory Orders(Dec) 9:00 AM CST - ISM Services(Jan) |
LT: Feb Canadian Dollar Options(CME)
Feb Currencies Options(CME) Feb Mx Peso Options(CME) Feb US Dollar Index Options(ICE) Feb Live Cattle Options(CME) Mar Cocoa Options(ICE) |
| 02/06 Mon |
|
FN: Feb Live Cattle(CME)
|
| 02/07 Tue |
7:30 AM CST - Trade Balance(Dec)
9:00 AM CST - JOLTS - Job Openings 2:00 PM CST - Consumer Credit(Dec) 3:30 PM CST - API Energy Stocks |
|
| 02/08 Wed |
6:00 AM CST - MBA Mortgage Purchase Index
9:30 AM CST - EIA Petroleum Status Report 2:00 PM CST - Dairy Products Sales |
LT: Mar Sugar-16(ICE)
|
| 02/09 Thu |
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly 9:00 AM CST - Wholesale Inventories(Dec) 9:30 AM CST - EIA Natural Gas Report 11:00 AM CST - WASDE Report & Crop Production 3:30 PM CST - Money Supply |
FN: Mar Sugar-16(ICE)
|
| 02/10 Fri |
7:30 AM CST - Export Prices(ex-ag) & Import Prices(ex-oil)(Jan)
9:00 AM CST - Mich Sentiment(Feb) 1:00 PM CST - Treasury Budget(Jan) |
LT: Feb Eurodollar Options(CME)
Mar Cotton Options(NYM) Mar Coffee Options(ICE) |
| 02/13 Mon |
|
LT: Feb Eurodollar(CME)
Feb Mx Peso(CME) |
| 02/14 Tue |
7:30 AM CST - Core PPI & PPI(Jan)
3:30 PM CST - API Energy Stocks |
FN: Mar Cocoa(ICE)
LT: Feb Lean Hogs(CME) Feb Lean Hogs Options(CME) |
| 02/15 Wed |
6:00 AM CST - MBA Mortgage Purchase Index
7:30 AM CST - Core CPI & CPI(Jan) 7:30 AM CST - Empire Manufacturing(Feb) 7:30 AM CST - Retail Sales(Jan) 7:30 AM CST - Retail Sales Ex-Auto(Jan) 8:15 AM CST - Capacity Util & Industrial Prod(Jan) 9:00 AM CST - Business Inventories(Dec) 9:30 AM CST - EIA Petroleum Status Report 11:00 AM CST - NOPA Crush 2:00 PM CST - Dairy Products Sales 3:00 PM CST - Net Long-Term TIC Flows(Feb) |
LT: Mar Crude Lt Options(NYM)
Mar Platinum & Palladium Options(NYM) Mar Sugar-11 Options(ICE) |
| 02/16 Thu |
7:30 AM CST - Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - Building Permits & Housing Starts(Jan) 7:30 AM CST - Philadelphia Fed(Feb) 9:30 AM CST - EIA Natural Gas Report 3:30 PM CST - Money Supply |
|
| FN=First Notice, OE=Option Expiration, LT=Last Trade | ||
* 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!
