E-mini Nasdaq Daily Chart & Trading Levels 2.25.2020

Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog

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Volatility has SPIKED huge. That is a game changer. In my opinion, one can NOT trade the same way he/she did two weeks ago – today.

The large spike ion volatility makes it tough for most people. It is a good time to REDUCE trading size, possibly look at trading the MICROS and definitely not a time to use “mental stops”…..

8984 is a MAJOR support for me personally on the NQ/ mini nasdaq which seems to be the leader of stock indices.

Click on the chart to enlarge

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Futures Trading Levels

02-25-2020

Economic Reports, source:

https://bettertrader.co

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.

Posted in: Future Trading News

Mini Nasdaq Chart & Trading Levels 2.21.2020

Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!

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Dear Traders,

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A word or two about mental stops….

I often hear from clients and prospects that they use “mental stops”…

Take a look at the mini NASDAQ intraday chart from today below and notice the type of move and speed of move that took place…..good luck placing that mental stop $3900 later or more per contract….

If your strategy calls for using stops ( I personally like to have a STOP on any of the short term trades), I highly recommend placing the stops in the system….While I myself have sinned before as well, thinking that “they” can see my stops and are going after my stops…..lets not flatter ourselves too much….UNLESS you are trading some VERY large size, no one is going after the 1 lot, 5 lot, 10 lot or even 50 lots in markets like the mini SP and US bonds ( ZB)….

Getting stopped out is part of the game and for me it is part of trading, if you are not using stops, it is just a question of when “mini black swan even will take place and wipe out your account.

Sorry if I sound a bit harsh above but take it as “tough love”….

Click on the chart to enlarge