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Author: Ilan

Global Events & Economic Reports for 7.18.2014

Posted on by Ilan

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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 Friday July 18, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

Just as I wrote about summer trading, unfortunate events with Malaysian airlines plane crash as well as other Geo political events, sent the market down pretty hard along with two sided volatile action.

Personally this was not an easy trading day, as I did not adjust the stops to match increased volatility only to see the direction of trade come back the way I wanted it.

Trading is not easy mentally! I have seen myself and other traders get frustrated when that happens and start a chain of actions that was not in the game plan and can many times cause much bigger losses…. Revenge trading, doubling down are just a few of our “bad friends” who show up when you are not focused and disciplined….

This is when one should take a pause, small break from trading. Step out, stretch, get fresh air and collect one self composure before deciding if to continue trading and how.

I am glad to share that this actually helped me today stay within my game plan and minimize losses to what i consider “acceptable levels”…

Continue reading “Global Events & Economic Reports for 7.18.2014”

Futures Levels & Economic Reports for 7.17.2014

Posted on by Ilan

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

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Thursday July 17, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 In the last few days we witnessed “summer trading” with low volume which encouraged me to share the following with you on the different types of trading days:

  • In my opinion there are 3 main types of trading days.

1. The most common day are two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought/oversold indicators.

2. Strong trending days, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend.

3. Slow and/or choppy trading days – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.

  • A good question I’ve been asked is how can one asses what type of trading day we will have while the market is still trading….I have been doing some work in finding the answers and will be happy to hear feedback via email but here are some initial observations:
    1. Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session (primary session is when the cash/stock market is open)
    2. Mondays have the highest chance for trending days
    3. The behavior of the first hour of trading can also suggests the type of action for the rest of the day.
    4. If the first 30 minutes of the trading day have good volume, better chances for type 1 or type 2 trading days.
    5. Low volume during the first 30 minutes can suggest a choppy (type 3 trading day)

Continue reading “Futures Levels & Economic Reports for 7.17.2014”

Futures Levels & Economic Reports 7.16.2014

Posted on by Ilan

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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 Wednesday July 16, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

Took a few days off from the markets and came back to see some zig zag action as Yellen was talking.

One must know what reports are coming out and also keep a journal so you have reference as far as different reports and how they affect the markets you are trading. In general I think a trading journal is a must for any serious trader, as we are are only humans and can only remember so much. Writing down different aspects of market behavior as well as your behavior can be valuable.

 

If you like the information we share? We would appreciate your positive reviews on our new yelp!! Continue reading “Futures Levels & Economic Reports 7.16.2014”

Futures Levels & Economic Reports 7.15.2014

Posted on by Ilan

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 July 15, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 There will be no market commentary today.

 

If you like the information we share? We would appreciate your positive reviews on our new yelp!! Continue reading “Futures Levels & Economic Reports 7.15.2014”

Economic Reports and Levels 7.11.2014

Posted on by Ilan

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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 Friday July 11, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

 

If you like the information we share? We would appreciate your positive reviews on our new yelp!! Continue reading “Economic Reports and Levels 7.11.2014”

Earnings Season Started & Economic Reports 07.10.2014

Posted on by Ilan

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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 Thursday July 10, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

Earnings season has started. Make sure you are aware of when major market movers are reporting.

The calendar can be found at: http://www.morningstar.com/earnings/earnings-calendar.aspx

Today I want to refresh our blog readers with what I call “there is life after mini SP for day-traders….” One of my favorite markets for day-trading is the 30 year bonds.

Too many of our clients trade the mini SP 500 and that’s it. I think that if one has the capital/ time/ knowledge, one should be looking to trade more than one market for purposes of diversification.

Each market has a different personality and behavior is dependent on the time of day when it’s most active.. If you are finding that the ES ( mini SP) is not giving you enough risk/opportunities then start monitoring a couple of other markets and perhaps explore them in the demo / simulated mode.

 

There are more than a few markets that I think are suitable for day-trading. Below you will find some observations, tips along with what is unique about these markets, their personality and the most active trading hours.

 

Interest Rates, 10 year and 30 year.

 

In most platforms, the symbols are ZB for 30 year bonds and ZN for 10 year notes. The current front month is September which is U. So ZBU4 for example.

Product Symbol ZB
Contract Size The unit of trading shall be U.S. Treasury Bonds having a face value at maturity of one hundred thousand dollars ($100,000) or multiples thereof
Price Quotation Points ($1,000) and 1/32 of a point. For example, 134-16 represents 134 16/32. Par is on the basis of 100 points.
Product Symbol ZN

 

Underlying Unit One U.S. Treasury note having a face value at maturity of $100,000.
Deliverable Grades U.S. Treasury notes with a remaining term to maturity of at least six and a half years, but not more than 10 years, from the first day of the delivery month. The invoice price equals the futures settlement price times a conversion factor, plus accrued interest. The conversion factor is the price of the delivered note ($1 par value) to yield 6 percent.
Price Quote Points ($1,000) and halves of 1/32 of a point. For example, 126-16 represents 126 16/32 and 126-165 represents 126 16.5/32. Par is on the basis of 100 points.
Tick Size
(minimum fluctuation)		 One-half of one thirty-second (1/32) of one point ($15.625, rounded up to the nearest cent per contract), except for intermonth spreads, where the minimum price fluctuation shall be one-quarter of one thirty-second of one point ($7.8125 per contract).
Contract Months The first five consecutive contracts in the March, June, September, and December quarterly cycle.

These contracts are often affected by many of the economic reports that come out at 8:30 Am Eastern and there is very active volume between the hours of 8 am EST and 3 PM EST

Volume on both contracts is very good. Ten years will often have 1 million contracts traded per day

(might be the second most active US futures market after the mini SP 500) and the bonds will avg. around 300,000 contracts.

These markets can experience very volatile movements during and right after different reports but then will often trade smooth or in an intraday trend the rest of the day.

 

 

If you like the information we share? We would appreciate your positive reviews on our new yelp!! Continue reading “Earnings Season Started & Economic Reports 07.10.2014”

Cannon Trading Releases New Futures Trading Platform, Shogun Trade Executor 7.09.2014

Posted on by Ilan

Cannon Trading Releases New Futures Trading Platform, Shogun Trade Executor™

Cannon Trading launches Shogun Trade Executor™, a futures platform that provides a cutting edge experience for futures traders and combines 25 years of experience into a simple trading platform. Set apart by its access to unfiltered data and statistical analysis, Shogun Trade Executor™ is the perfect program for traders who want to improve their game.

Beverly Hills, California (PRWEB) July 08, 2014

http://www.prweb.com/releases/cannon-trading/shogun-trade-executor/prweb11998947.htm

Cannon Trading Co, Inc., an Independent Introducing Brokerage firm, is releasing its latest futures trading software, Shogun Trade Executer,™ a trading platform tailored to provide the most cutting edge user experience for futures traders.

The new software allows traders to benefit from the company’s 25 years of experience and compiles a user-interface that is both intuitive and highly functional. What separates Shogun Trade Executor™ from the other platforms lies in a few different levels of trading mechanics.

“Besides single click orders, Shogun Trade Executor™ offers tools to help the trader regulate himself and observe his statistics. With an implemented daily loss limit, a trader can now stay disciplined and set daily loss limits to protect profits and/ or limit losses for any given day, directly from the platform,” says Mike Levy, President, Cannon Trading.

“At the end of the day, users can study themselves as traders and observe their own individual trading statistics. Shogun Trade Executor™ provides free charting with over 100 technical indicators, trading algorithms, and unfiltered historical data,” he adds.

These are just some of the features that separate Shogun Trade Executor™ from other platforms. For more information and to actually try it out, traders can start with no cost Demo version.

As the industry has changed, Cannon has always been mindful of the evolving environment and has always kept customer interests in mind. The brokers at Cannon Trading look forward to finding out whether the futures trading landscape is something that will work for customers.

Cannon Trading has consistently tried to be a place where the traders and brokers work together as a team to assist clients in any way possible.

The result is a unique and progressive infrastructure that enables them to meet the varied needs of our clients with tailored services and execution.

Cannon Trading Company has won a Customer Service Finalist of 2003 Readers Choice Award, and the brokers have been quoted in SFO, Futures Magazine and Bloomberg. The Company is a proud member of the NFA andCFTC since 1988.

Visit the website and take advantage of many of the offers and educational tools.

Good Trading

Contact Details:
Name: Cannon Trading Co, Inc.
Email-id: info(at)cannontrading(dot)com
Address: 9301 Wilshire Blvd. Suite 515 Beverly Hills, CA 90210
Phone Number: (800)-454-9572
Website: https://www.cannontrading.com

TRADING COMMODITY FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS. THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED. PAST PERFORMANCES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

Futures Levels & Economic Reports 7.09.2014

Posted on by Ilan

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Wednesday July 9, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

I am not sure if it is the overbought conditions stock index futures are in, perhaps fear of the start of earning season or maybe it is the tense situation over in Israel/ Middle East – but the result today was one of the more meaningful down days of the last few months along with above avg. volume.


Not sure it is anything more than normal market action after indices made all time highs last week….I am a little more skeptic now days when it comes to the short side of the indices. That been said, if September SP500 can break below 1952 ( just a bit below today’s lows) I think we have higher chances of a continuation lower.

In between, know what time frame you are trading, know your rules, your objectives, accept the fact that you will have good and bad trading days and measure your progress after you define what it is.

Ninja Trader Update & Economic Reports 7.08.2014

Posted on by Ilan

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

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Thursday July 8, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

Hope everyone had a nice 4th of July weekend and ready for the rest of July.

First, be aware that earning season has started and that can create moves in stock index futures during the afternoon session/ early morning times.

On a different note, some updates regarding Ninja Trader.

As most of you have heard Ninja Trader who used to be  a software company ONLY, has gotten into the brokerage business by acquiring Mirus futures.

What it means to most traders who are looking to trade using Ninja Trader along with Rithmic data feed, is that they will have to use one firm and one firm only, Ninja trader brokerage. In my opinion, this is a move towards monopoly which is not a good thing to the end user/ client.

If you like to use Ninja Trader and still enjoy Cannon Trading superb customer service, you can do so  by opening an account with Cannon Trading by July 15th

Current Cannon Trading clients who use Ninja Trader are grandfathered in and will be able to continue using Ninja Trader through cannon Trading for the life of the account.

If you like the information we share? We would appreciate your positive reviews on our new yelp!! Continue reading “Ninja Trader Update & Economic Reports 7.08.2014”

Futures Levels & Economic Reports 7.03.2014

Posted on by Ilan

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

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Thursday July 3, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

No market commentary today.  Please have a safe 4th of July  weekend!

 

 

If you like the information we share? We would appreciate your positive reviews on our new yelp!! Continue reading “Futures Levels & Economic Reports 7.03.2014”

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.