Open An Account
Free Demo Account Subscribe Here

Category: Commodity Brokers

Whether a person or a firm, a commodity broker is there to help you with your commodity trading needs. They either have a team of commodity traders under them or a platform that they manage electronically.

For all commodity trading beginners, commodity brokers are a point of contact that can be approached with individual commodity trading needs. To do good in commodity trading, it is important to take the advice of the commodity broker seriously. Under this category archive we discuss everything about commodity brokers and their expert skills.

We at Cannon Trading are there to help your commodity trading requirements. Whether you want to consult us and seek advice or to play a more active role for you in the markets, we are there to serve you with the best of our services. It is essential for you to choose only a certified broker and so, you can always trust us when it comes to qualifying on all quality parameters. No matter which commodity interests you, our trading experts give you the right and real-time advice always. Read our archive; share posts with your friends; or bookmark this page to stay up-to-date on commodity brokers.

Day Trading Psychology, Levels & Economic Reports 10.31.2014

Posted on by Ilan

Hello Traders,

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

Hello Traders,

 

I read the following from:  http://www.daytradingpsychology.com/

and thought it was worth sharing. I think that if you know which category you fall into, it may actually help you deal with this “non human brain friendly thing called trading”……

 

THE COMPULSIVE BRAIN

People with Compulsive brains tend to get stuck in a particular thought or view of the market. Whether bullish or bearish, right or wrong, the main thing is that their minds are closed.

People with compulsive brains often don’t use stops (because they “know” what’s going to happen). They can have some amazing winners, but they will hold a losing position much longer than necessary because they are not open to the feedback the market is giving. These folks demonstrate the same closed-mindedness in daily life and tend to have very strict, by-the-book ways of doing things.

THE IMPULSIVE BRAIN

People with Impulsive brain function are the exact opposite. They tend to stop themselves out all the time and over-use the reverse button. They over-trade. Like a fish spotting a shiny lure, they can’t resist getting involved in a moving market.

In other words, they lack impulse control. This will show up not only in trading, but in conversation, driving, eating and other aspects of daily life.

THE ANXIOUS BRAIN

The third type of brain function found among traders is the Anxious Brain. These folks live with a non-specific sense of impending doom. They see the glass of life as half empty.

When they take risks in trading, they are skeptical and have a heightened sense of the obstacles in their way to success. For example, if they are long, they over-focus on resistance. Continue reading “Day Trading Psychology, Levels & Economic Reports 10.31.2014”

Recognizing Different Types of Trading Days & Levels 10.22.2014

Posted on by Ilan

Hello Traders,

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

 

Are we done? Was this the correction everyone was afraid of and that’s it?

Only the future can tell but interesting to look at the daily chart below of the mini SP 500. We bounced OVER 100 points from the lows!!! But I still need to see if we can break above the 1946 level marked on the chart….

 

Another interesting point is that this rally is on much lower volume than the sell off, but then again this has been the story in the “minor corrections” we had during the last several years.

 

Not sure if this one is any different and we are heading back to test new highs…my “emotions/gut” says this one has a bigger chance of being a more serious correction than the ones we have seen before but my “trading brain” says that statistically odds are in favor of resumption in the rally…

Continue reading “Recognizing Different Types of Trading Days & Levels 10.22.2014”

Monday Futures Market Recap, Economic Reports & Levels 10.21.2014

Posted on by Ilan

Hello Traders,

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

 

TradeTheNews.com Weekly Market Update: The Correction That Wasn’t

From Our Friends at: www.TradeTheNews.comMarket volatility reached epic levels this week. By Wednesday afternoon, the S&P500 had given up than 4% on the week after a series of unfortunate events hammered risk assets, drove liquidation and raised fear the dreaded correction had arrived. However most of the gap was filled in the second half of the week as the soothing possibility of more central bank easing emerged. On Wednesday, the withdrawal of Ireland’s exotic tax avoidance laws, which inspired AbbVie to cancel its $54 billion merger with Shire, slammed many US hedge funds that were long Shire in an arbitrage trade. The same day, talk that the Greek anti-euro, anti-bailout opposition had strengthened its influence drove a massive sell-off in European peripheral debt, further hurting many US hedge funds that were long the instruments. On top of that the Ebola scare reached a fever pitch with false alarms across the US, though only one additional case was confirmed. The combined effect was risk asset liquidation, driving the VIX index above 30 for the first time in nearly two years. Commenting on Wednesday’s market action, Goldman Sachs’ CFO said investors were “shooting first and asking questions later.” Then on Thursday, the ECB said it would adjust haircuts on bonds used as collateral for loans to Greek banks and Fed Governor Bullard said the FOMC should consider delaying the end of the QE taper this month to help stem the slide in inflation expectations. Both announcements helped propel a move higher, aided by some better US data late in the week and a round of mostly solid earnings reports. Continue reading “Monday Futures Market Recap, Economic Reports & Levels 10.21.2014”

Movement in the Indices w/ Heikin-Ashi Charts 10.09.2014

Posted on by Ilan

Hello Traders,

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

 Today’s action in stock indices was quite impressive! The volatility we are now seeing is so different than what we witnessed 2 months ago it’s almost like we are trading a completely different market!

We had almost a 50 point range on the SP today!! Much different than the 8-12 points range we saw couple months back….This calls for you as a trader to adjust, researched and be aware of the market conditions you are trading in.

The market is moving much faster. I was watching the DOM today off and on and the speed of the moves was extreme.

When volatility expands I have the following tips:

  • Reduce trading size
  • Be extra picky = no trade is better than a bad trade
  • Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 1925.00 with a stop at 1919.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 1919.75 and place a stop a few points below in this hypothetical example.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Be patient and be disciplined Continue reading “Movement in the Indices w/ Heikin-Ashi Charts 10.09.2014”

Crude Oil & Gold Futures Renko Charts; Economic Reports & Levels 10.08.2014

Posted on by Ilan

Hello Traders,

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

 

Another two markets I like to touch on when it comes to “other markets to daytrade beside the mini SP 500” are Crude Oil Futures and Gold futures.

 

More than a few similarities between the two markets.

 

They are both volatile, can move VERY fast. I have seen some very large moves happen in matter of minutes if not seconds. The “fear & greed” factor really plays a role in these specific two markets.

Both have active trading hours starting with Far East trading around 10 PM est all the way to the next morning until about 3 PM est. Good volume generally speaking but not close to the mini SP or ten year notes. So you may see some slippage on stops but the volume is more than enough to trade size.

Each tick on gold is $10, so every dollar move =$100 against you or in your favor. Crude is similar, each tick = $10. One full $1 move = $1000.

Continue reading “Crude Oil & Gold Futures Renko Charts; Economic Reports & Levels 10.08.2014”

Market News, Futures Level & Economic Reports 10.07.2014

Posted on by Ilan

Hello Traders,

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

 

True to my Monday tradition, I am sharing some of the news/ factors affecting the markets this week:TradeTheNews.com Weekly Market Update: Markets Shake Off Ebola, Hong Kong Flu, and ECB’s Dubious Prescription

The contrast between US economic strength and Europe’s deflationary headache got even stronger this week. On Thursday, ECB President Draghi outlined his asset purchase plan but left investors with the impression that the program would be too little to beat deflation. Draghi said the ECB’s balance sheet would grow back toward €3 trillion compared to near €2 trillion today, suggesting that the potential universe of covered bond and ABS purchases is up to €1 trillion. Meanwhile, the September non-farm payrolls was +248K complemented by a combined 69K in upward revisions to July and August data. The unemployment rate declined from 6.1% in August to 5.9%, the lowest level since July 2008. The only sour notes were that wage growth was still pretty weak and labor force participation slipped lower. In China, the Occupy Central protest movement took over downtown Hong Kong, driving big sequential declines on the Hang Seng early in the week. The bourse closed for two days of holidays, fell 2% in early trading on Friday and then closed higher. There are real fears that Beijing will not tolerate much more unrest in the city. For the week, the DJIA slipped 0.6%, the S&P500 lost 0.8% and the Nasdaq fell 0.8%. Continue reading “Market News, Futures Level & Economic Reports 10.07.2014”

Non Farm Payroll Data, Economic Reports & Levels 10.03.2014

Posted on by Ilan

Hello Traders,

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

Hello Traders,

 

We started a trial for a new squawk box service here at Cannon and I must say I was impressed enough to share with you an example of the wrap up email I received as well as a link to their services:

http://www.livesquawk.com/#!sign_up  Continue reading “Non Farm Payroll Data, Economic Reports & Levels 10.03.2014”

Heiken-Ashi Mini S&P Chart; Economic Reports & Levels 9.30.2014

Posted on by Ilan

Hello Traders,

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

Volatile action in the markets as events around the globe are injecting some fear factor into the markets.
It may take a while before the bears get over their fear factor of going short due to QE but at least at this point we are noticing the bulls finally having a little more fear as well……

My thought for the SP500 is that we need to see a break below 1955, preferably below 1948.50 to accumulate more momentum and speed to the downside.
At this point I am leaning towards selling rallies but one needs to be flexible and adapt to this market which is picking up volatility and seems to go through a changing personality right now.

Daily Heikin-Ashi chart of Dec. Mini SP 500 futures for your review below:

EP - E Mini S&P 500, Equalized Active Daily Continuation : Heikin-Ashi
EP – E Mini S&P 500, Equalized Active Daily Continuation : Heikin-Ashi

Continue reading “Heiken-Ashi Mini S&P Chart; Economic Reports & Levels 9.30.2014”

Futures Trading Levels & Economic Reports 9.24.2014

Posted on by Ilan

Hello Traders,

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

After a frustrating trading day, I read this one again and thought it is worth sharing:

Educational Feature: Dealing With Losing Trades

By www.JimWyckoff.com

A main tenet of success in futures trading is the ability to accept losing trades as part of the overall trading process. This is not an easy undertaking–especially since many futures traders tend to be of a more competitive nature in the first place. Traders certainly don’t have to enjoy losing trades, but they must accept the fact and move on. Those who can’t accept the fact that losing trades are a part of futures trading usually don’t stay in the business very long.

My wife is a school teacher, and one of her favorite acronyms–ADM–can be applied to losing futures trades. “Accept” it. “Deal” with it. “Move” on. (This is a part of the important psychological aspect of trading, and deserves much more discussion than I can provide in this feature.)

I had lunch with one of my trading mentors a while back. We discussed losing trades. I asked my mentor how many losing trades in a row he has had to endure during his long and successful trading career. His reply was 13 in a row. I asked him how he coped with that. He said that while it was certainly not easy, he knew that losing trades are a part of the business and that he was in the business “for the long haul,” and that his trading methodology was sound. He added, “Ninety-percent of futures trading profits are made on 10% of the trades, which means most of the other trades are either small losers or break-even-type trades.” This is an important fact for all traders to keep in mind.

My lunch meeting with my mentor was good for me because, even though we made no “break-through” discoveries on the path to increased futures trading success, we did reaffirm our own philosophies on trading and markets. My passion for trading and market analysis is fed immensely every time I talk with people in my profession, or attend the quality trading seminars.

Continue reading “Futures Trading Levels & Economic Reports 9.24.2014”

British Pound Waiting for The Scottish Vote, Economic Reports & Levels 9.19.2014

Posted on by Ilan

Hello Traders,

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

British Pound waiting for the Scottish Vote for clues on next move

On Thursday, after a 307-year-old union with England and Wales, Scottish voters age sixteen and over will decide in a referendum that will ask the question: Should Scotland be an independent country?

Most opinion polls show more Scots want to remain in the U.K. than leave it, but enough voters are undecided to swing it either way.

The “Better Together” campaign says Scotland should remain part of a larger country that has a greater say in the world and can better withstand financial shocks. Voting “no” to secession would also ensure it keeps the British pound after the U.K. government ruled out sharing the currency with an independent Scotland.

From the technical perspective I did get a possible buy signal ( see the blue diamond in the chart below). My diamond indicators are an output of an extreme overbought/ oversold along with price action that suggests a good counter trend move. In this case we saw an extreme sell off starting July 15th , falling over 11 points, I think if the market can take the 162.65 level , the door is open for a move up to 164.81 and 166.14!

 

BP6 - British Pound (Globex), Equalized Active Daily Continuation : Heikin Ashi
BP6 – British Pound (Globex), Equalized Active Daily Continuation : Heikin Ashi

 

One thing for sure, volatility may be QUITE HIGH and it’s really hard to tell the immediate affect. Make sure you have a solid money management/ risk plan in tact!!

Read the rest of the analysis at:

http://experts.forexmagnates.com/british-pound-waiting-scottish-vote-clues-next-move/

Continue reading “British Pound Waiting for The Scottish Vote, Economic Reports & Levels 9.19.2014”

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.