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Futures Trading Levels for July 20th, 2021

Dear Traders,

Volatility is back!
COVID Variants fears…..While past performance is not indicative of future results, it might be worthwhile to look at how markets behaved during Jan-May of 2020.
Intraday Volatility in stock index futures is extremely high. Actually across many markets Crude and NASDAQ futures leading the volatility but metals, energies and grains have seen higher volatility. I noticed the stock index futures today as I was actively monitoring and trading with some clients and saw the ES make 14 points moves and more, BOTH ways in the same 15 minutes….Intraday chart for illustration below.
Risk management and trade management become more important than buy/sell signals.
1.  Learn to reduce trading size. Perhaps trade smaller contracts like the micros.
2. Adjust stops and entries based on volatility ( ATR/ Parabolics).
3. Be extra picky on entries without chasing trades.
4. Understand that loses are part of trading and this is definitely not a good time to “fight the markets”.
5. Focus more on risk management and ways to protect certain positions as needed. Survive to trade another day.
Markets are moving extremely fast and at times quoting systems, platforms can’t even keep up.
The risk is MUCH GREATER than I have seen, yet some traders look for it.
That is ok, as long as you :
Know the rules, understand current margins, know where the circuit breakers are/ limit moves.
Figure out your max risk.
After you do all that, feel free to trade but jumping in and trying to trade without the basic knowledge above is like jumping into a stormy ocean without a life vest…..
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Futures Trading Levels


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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.


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 here in 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 judgement in trading.

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