Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
For 2014 I would like to wish all of you discipline and patience in your trading!
I have shared the feature below a while back but feel it is worth reading even if you read before. Make sure you are prepared for the trading day, part of the preparation is to know what reports are coming, when they are coming and if they are market movers or not for the specific market you are trading…..
WE DO HAVE MORE THAN A FEW MARKET MOVING REPORTS TOMORROW FOR DIFFERENT MARKETS, SEE ECONOMIC CALENDAR BELOW
Ranking 30 Futures Market Moving Events
Where do I look and when do I pay attention?
By: Cannon Trading Commodities Broker
Every trader has done it. You’ve done it, your friends have done it, even your broker has done it at one point early in their career.
Here’s the scenario:
You’ve finally finished your futures education at Cannon Trading Company. You’ve done you’re homework on stops, limits, indicators and price movements for the market you’re trading. You’re ready to go, you enter your limit order and you wait.
You get filled. Your heart rate picks up, a wry smile crosses your face and you begin to imagine the possibilities of the one trade you’re in: How much can I make? How much can I lose before it’s too much? You’ve waited through months of technical trading and deep meditation to get here, and now it’s finally paying off with one of your first trades in the live market. Sayonara paper trading; aloha live futures.
Then, all of a sudden, the top of the hour hits and the market starts acting up. It’s getting more volatile and more volatile; it’s picking up speed and taking an unforgiving turn against you. You can’t think straight, all you can think about is your losing position that could get worse and worse as the seconds go by. You race to put in a stop order, but you finally have to settle for a market order just to stop the bleeding. You stare.
GOOD TRADING !
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. Past performance is not indicative to future results.
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Futures Trading Levels
|Contract Dec. 2014||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||Dec. Gold||Dec.Silver||Dec. Crude Oil||Dec. Bonds||Dec. Euro|
|Resistance 3||1185.6||16.40||80.90||142 15/32||1.2679|
|Resistance 2||1180.3||16.28||79.65||142 6/32||1.2630|
|Resistance 1||1174.0||16.14||78.33||141 23/32||1.2589|
|Support 1||1162.4||15.88||75.76||140 31/32||1.2499|
|Support 2||1157.1||15.76||74.51||140 22/32||1.2450|
|Support 3||1150.8||15.62||73.19||140 7/32||1.2409|
|Contract||Dec Corn||Dec. Wheat||Jan. Beans||Dec. SoyMeal||Dec. bean Oil|
|WedNov 5||3:15am||EUR||Spanish Services PMI||56.2||55.8|
|3:45am||EUR||Italian Services PMI||49.6||48.8|
|4:00am||EUR||Final Services PMI||52.4||52.4|
|5:00am||EUR||Retail Sales m/m||-0.6%||1.2%|
|8:15am||USD||ADP Non-Farm Employment Change||214K||213K|
|9:15am||USD||FOMC Member Kocherlakota Speaks|
|9:45am||USD||Final Services PMI||57.3||57.3|
|10:00am||USD||ISM Non-Manufacturing PMI||58.2||58.6|
|10:30am||USD||Crude Oil Inventories||1.8M||2.1M|
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 judgment in trading.