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As of today you should be trading June eminis, June financials, June currencies….
You should not be trading ANY March positions.
Below is a the daily chart of the JUNE mini SP the way I view it….
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As of tomorrow you should be trading June eminis, June financials, June currencies….
You should not be trading ANY March positions as of tomorrow.
Tomorrow morning we have unemployment report ( normally the first Friday of the month but due to the 28 days February the report is coming out tomorrow).
This is a market moving report. look back at your notes.
Last but not least a very interesting tool/ information for options traders and in general:
https://www.cmegroup.com/education/monthly-options-review/february-options-review.html
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Thursday, March 9th
ECB Interest Rate Decision
07:45 EDT/12:45 GMT
Expected to leave key rates unchanged
– Maintain Main Refinancing Rate at 0.00%
– Maintains Deposit Rate at -0.40%
– Maintain Marginal Lending Rates at 0.25%
The ECB governing council will likely keep its policy steady this week despite a steady improvement on the inflation front (being dictated primarily by energy prices). Analysts noted that the Feb Advance CPI moved above the ECB target of ‘around 2%’ for the first time in four years, thus putting pressure on the ECB to reduce its stimulus. But the continued firming seen in headline inflation readings is not apt to budge ECB message for the time being because core inflation remains stubbornly low. As 2017 progresses, the stimulus debate at the ECB may shift as the threat of deflation recedes and inflation levels begin to look sustainable across the whole euro zone region in coming months.
Analysis:
– Press conference seen to retain dovish bias on the back of political uncertainty
– ECB is likely to announce an extension of the TLTRO… more
Rollover Notice:
I personally will start trading the June mini SP this Friday but most traders will rollover tomorrow:
Rollover Notice for Stock Index Futures
Important notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones, the “Big” pit-traded S&P 500, etc., it is extremely important to remember that tomorrow, Thursday, March 9th, at 8:30 am CDT Time is rollover day.
Starting March 9th, the June 2016 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the June 2017 contract as of March 9th. Volume in the March 2017 contracts will begin to drop off until its expiration on Friday March 17th.
The month code for June is M7.
Traders with electronic trading software should make sure that defaults reflect the proper contract as of Thursday morning.
Please close any open March Currency positions by the close on Friday the 10th.
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I have added one more condition/ ALGO to sierra charts ( ATcharts) under the LEVEX family of studies.
you can see it ( marked as a square) on the range bar chart of the last few days for the mini SP.
If you like to try this new indicator along with the current ones along with a free trial of sierra charts (if you are not currently using it), please email me the following:
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS
Continue reading “Try the Newest ALGO of LEVEX Family of Studies and Conditions 3.08.2017”
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What’s Your Trading blood type?
This is a reprint of an article Ilan Levy-Mayer, VP of Cannon wrote for SFO magazine a few years back.
Valuable information which we wanted to share with you:
Perhaps the greatest luxury I have in this business is the ability to observe the experiences of many traders with different personalities, life schedules and risk capital, each trading in a variety of markets. What most astute brokers realize is that, over time, as some individuals prematurely exit winners while others desperately cling to losers, it becomes quite possible to match different “blood types” of those traders with their correct “trading diets.” Clearly, we’re not talking the medical blood type here, but in the figurative sense it makes the right point. With practice, it’s not too hard to determine blood types (type of trading best suited to the individual) based on the personality of the trader, and then prescribe a diet based on that individual trader’s capital, experience, risk profile and schedule.
Read the full article, download the PDF “What’s Your Trading blood type?”
Continue reading “What’s Your Futures Trading Blood Type? 3.07.2017”
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Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow. Front month for grains is May.
Another good read from our friend Peter Davies at JigSawtrading.com:
Ilan: Tell us a little bit about your trading background and how you got started trading.
Peter: In the mid 90’s I was a self employed IT Consultant and ended up living in Knoxville, TN, then I moved to Netherlands, then Denmark, then Japan and finally Thailand, where I ended up starting up an IT firm servicing the client I worked for in Japan. During this time, I managed to save a lot of money which was just sitting there. I ended up having my portfolio managed by a firm of financial advisors. After 3 years, they had lost 30% of the funds. Basically they got into everything that was hot the year before, a terrible strategy in hindsight. At one point, in a meeting with them, they told me they would get back the losses by leveraging my money. They said that all they needed was a 10% gain and the leverage would mean I recouped my losses. I asked them exactly how they would make that 10% gain and they said to me “Well, anyone can make a 10% gain given enough flexibility”. I politely re-determined them that if ‘anyone’ could make 10%, then they wouldn’t have lost 30%. I withdrew all my funds and figured if I was going to lose money, I might as well do it myself rather than paying them to do it for me.
I started out longer term investing but found that hit and miss and while I do still trade on mostly oversold stocks, it was day trading where I found techniques I was really comfortable with. Continue reading “Trader’s Interview 3.03.2017”
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Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow. Front month for grains is May.
A quick interview I did with our Friends over at Trading Technologies ( Cannon offers ALL of Trading Technologies products, including XTRADER for qualified clients).
Ilan Levy-Mayer is the vice president of Cannon Trading Company and chief trader for LEVEX Capital Management Inc., a commodity trading advisor. Levy-Mayer specializes in futures and commodities trading using technical analysis and algo trading. He oversees trading systems, risk and online marketing at Cannon while also running a trading program with LEVEX. A former professional basketball player, Levy-Mayer has been in the futures industry since 1998.
– Brian Mehta, CMO
You have an interesting background. How did you get involved in trading, and how has your prior experience as a professional athlete helped you as a trader?
Ilan: Athletics and trading are not so dissimilar. Learning that practice makes perfect and that spending hours in the gym would help my basketball game translated into me spending hours in front of the machine, watching markets and market patterns, trying to perfect my game.
I actually became involved in trading after becoming a broker. At the time, the online trading business just got started and I was watching too many self-directed online traders lose money way too quickly. READ THE REST….
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Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow. Front month for grains is May.
President Trump will be speaking tonight ( 9 PM Eastern time) and I think that this may move the markets a bit more than usual for the night session….Be aware and be ready for possible shift in volatility tomorrow.
We are starting March with a day full of reports tomorrow, including crude oil inventories, Beige book and more!
Continue reading “President Trump is Speaking Tonight – Markets May Listen! 3.01.2017”
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
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Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow.
Last trading day of the month can be different in different markets.
I noticed large volume and price action on bonds for example during 14:00 Central time ( used to be the pit session close).
Keep a trading journal and write down any patterns you see that can help you in the future. Economic reports reaction, last trading day of the month, option expiration are just a few examples.
Also, I would like to share a trading system we are personally impressed with here at Cannon, out of our iSystems menu:
https://cannon.isystems.com/System/PerformanceSheet?Id=12215
Feel free to contact your Cannon point of contact with any questions regarding this system or any other of the many trading systems we offer here at Cannon.
Continue reading “Futures Automated Trading System for Review 2.28.2017”
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Heads up: Front month for energies is now April. Both crude oil and Natural gas numbers are out tomorrow. Check reports section below.
Here is a screen shot from our trading platform, E-Futures Int’l along with enabled studies/ALGO I have created, which you can try on your own. it comes with a 15 minute remote session, 25 minute video and a 23 page PDF that explains the concept.
The screen shots are for Gold and Natural gas from yesterday’s session.
Red diamond = possible sell. Green diamond = possible buy.
Along with a few simple rules, one can use this another tool for day trading.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS
