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8 Steps to Successful Futures Day-Trading 12-02-2015

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday December 2, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Wishing all of you a great trading month in December.
My name is Ilan Levy-Mayer and I am the Vice President and Senior Futures Broker at Cannon Trading. I came up with the following personal observations after serving online traders worldwide for more than 17 years.

8 Steps to Successful Day-Trading

The following steps are guides to progress, and are not necessarily in sequential order. Some of them are always required, but each futures trader is different and will relate to these stages in their own ways. While attempting to learn and progress, one must keep in mind that futures trading is risky and can involve significant losses.

1. Education

Hopefully if you are already trading you have completed your initial education: contract specs, trading hours, futures brokers, platforms, the opportunities as well as the risk and need to use risk capital in futures, and so on. Understanding this information is essential to futures trading. The second type of education is ongoing: learning about trading techniques, the evolution of futures markets, different trading tools, and more.

2. Find a System

I am definitely not advising you to go on the web and subscribe to a “black box” system (using buy/sell triggers if don’t know why they are being generated). What I am advising is developing a trading technique: a general set of rules and a trading concept. As you progress, you may want to put the different rules and indicators into a computerized system, but the most important factor is to have a focus and a plan. Don’t just wake up in the morning and trade “blank.”

3. Survival

This is the key! Do what you need to do in order to survive this brutal business and give yourself the chance of being here down the road with more experience and a better chance of success. Survival is probably the biggest key for beginning traders. There is a saying in this business: “live to trade another day.” It is so true!


Read the rest!

Many ways to trade any market, many ways to lose money in any market and only very few ways to lock in gainsIf you need help creating a trading plan, visit our broker assist services.  

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.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels

Contract Dec. 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2124.50 4768.83 18038 1217.23 100.63
Resistance 2 2113.00 4742.67 17958 1210.57 100.44
Resistance 1 2106.50 4728.83 17911 1206.83 100.13
Pivot 2095.00 4702.67 17831 1200.17 99.94
Support 1 2088.50 4688.83 17784 1196.43 99.63
Support 2 2077.00 4662.67 17704 1189.77 99.44
Support 3 2070.50 4648.83 17657 1186.03 99.13
Contract Feb. Gold March Silver Jan. Crude Oil Mar. Bonds Dec.   Euro
Resistance 3 1085.5 14.45 43.30 159 4/32 1.0736
Resistance 2 1079.8 14.35 42.77 157 20/32 1.0688
Resistance 1 1074.1 14.25 42.24 156 26/32 1.0662
Pivot 1068.4 14.15 41.71 155 10/32 1.0614
Support 1 1062.7 14.05 41.18 154 16/32 1.0588
Support 2 1057.0 13.95 40.65 153 1.0540
Support 3 1051.3 13.85 40.12 152 6/32 1.0514
Contract Mar. Corn Mar. Wheat Jan Beans Jan. SoyMeal Jan. Nat Gas
Resistance 3 380.3 487.1 902.75 298.13 2.33
Resistance 2 377.9 483.7 897.25 294.87 2.29
Resistance 1 375.8 477.6 893.25 290.63 2.26
Pivot 373.4 474.2 887.75 287.37 2.23
Support 1 371.3 468.1 883.8 283.1 2.2
Support 2 368.9 464.7 878.25 279.87 2.16
Support 3 366.8 458.6 874.25 275.63 2.13
Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 3:54pm Currency Impact Detail Actual Forecast Previous Graph
WedDec 2 3:00am EUR Spanish Unemployment Change -10.3K 82.3K
5:00am EUR CPI Flash Estimate y/y 0.2% 0.1%
EUR Core CPI Flash Estimate y/y 1.1% 1.1%
EUR PPI m/m -0.4% -0.3%
8:10am USD FOMC Member Lockhart Speaks
8:15am USD ADP Non-Farm Employment Change 191K 182K
8:30am USD Fed Chair Yellen Speaks
USD Revised Nonfarm Productivity q/q 2.2% 1.6%
USD Revised Unit Labor Costs q/q 1.1% 1.4%
10:30am USD Crude Oil Inventories -0.6M 1.0M
12:25pm USD Fed Chair Yellen Speaks
2:00pm USD Beige Book
3:40pm USD FOMC Member Williams Speaks

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.

 

Tags: > > > Posted in: Commodity Trading   | Day Trading   | Future Trading News   | Futures Trading   | Options Trading   | Trading Guide  

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