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Category: Day Trading

Here is a subject that a lot of people don’t understand at all. Day Trading can be risky. So, it is something that you should stay away from unless and until you are absolutely sure about what you are doing.

There are a number of items about Day Trading such as the minimum mantaince requirementand more that need to be taken into consideration. With the blogs and write-ups listed in this section, you can learn a great deal about day trading.

We at Cannon Trading can help you understand the different concepts of trading and present you with the latest information on the same. Our team of professional and smart people can help you in your day trading transactions and more. In order to understand day trading more clearly, we advise that you go through all the write-ups listed in this category archive on Day Trading.

Weekly Newsletter 1068: Day Trading Mind Traps & Intro to Crude Oil Futures Course & Trading Levels for the Week Ahead 9.27.2021

Posted on by Ilan

Cannon Futures Weekly Letter Issue # 1068

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!

 

Day Trading Mind Traps

“One way our brain helps keep us safe is to protect us from an awareness of our weaknesses. The brain believes that it is better to be falsely confident than recognize the real risks. This protective mechanism tends to work against us in trading.” Kenneth Reid, Ph.D
MINDING THE MIND
The mind can play tricks on us. Intuitive Trading is an attempt to mind read the market, which makes us susceptible to whipsaws. Hindsight Bias causes traders to underestimate the difficulty of trading, while Competency Bias causes us to over-estimate our abilities. These are mental banana peels that set us up for a fall.
INTUITIVE TRADING
Intuitive trading is a natural response to excessive randomness and non-linearity in the market. But making informed guesses is not the same as formulating a rule-based pattern-recognition system that gives a trader a true edge. Without a rule-based plan, intuitive traders expend a great deal of energy mindreading the market, which will not improve your odds of success. In fact, professional traders make a good living exploiting the emotionally-driven behavior of intuitive amateurs.

Watch a recording of a recent webinar held with Bookmap on the topics of:

  • Order Flow
  • Where are the large orders?
  • Heat Map?
  • Tools for day-traders
  • More….
Crude Oil Futures

Trading 101: Free Course – An Introduction to Crude Oil

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 when it comes to Futures Trading.

 

Futures Trading Levels

09-27-2021

Futures Trading Support and Resistance Levels 9.27.2021

 

Weekly Levels

Futures Support and Resistance Levels

 

Trading Signals for commodities

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

Futures Economic Reports

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 judgement in trading

Find Flexibility and Volume w/ Micro Futures Contracts & Support and Resistance Levels 9.08.2021

Posted on by Ilan

Dear Traders,

Get Real Time updates and more on our private FB group!
Separator
MICROS are here to stay!
I was wrong….when the MICROS first came out I was saying to myself “that defeats the whole point of leverage” BUT I am a big fan now.
MICRO CL, MICRO ES, MICRO NQ are just some of the markets with very nice volume and they offer the flexibility of scaling in and out, smaller exposure.
The NQ for example is trading at such levels compare to 3 years ago that a “normal 0.5%” move is worth approx. $1000 against you or in your favor simply because we are trading at 15613….compare to 780 3 years ago!! That is more than double the value/ exposure etc.
The MICRO CL got great volume and at times when this market is very volatile or you want to take a swing trade but still sleep well at night…..
You get my point!
Start a real time demo and trade the MICROS and any other futures market in real time.
You can start MICRO account with as little as $1000 and still get access to the service and knowledge Cannon is well know for in the industry

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 when it comes to Futures Trading.

 

Futures Trading Levels

9-09-2021

Support and Resistance 9.09.2021

Economic Reports, source: 

 www.BetterTrader.co

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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 judgement in trading as well as options on futures.

Futures Trading Levels for July 20th, 2021

Posted on by Ilan

Dear Traders,

Volatility is back!
COVID Variants fears…..While past performance is not indicative of future results, it might be worthwhile to look at how markets behaved during Jan-May of 2020.
Intraday Volatility in stock index futures is extremely high. Actually across many markets Crude and NASDAQ futures leading the volatility but metals, energies and grains have seen higher volatility. I noticed the stock index futures today as I was actively monitoring and trading with some clients and saw the ES make 14 points moves and more, BOTH ways in the same 15 minutes….Intraday chart for illustration below.
1.  Learn to reduce trading size. Perhaps trade smaller contracts like the micros.
2. Adjust stops and entries based on volatility ( ATR/ Parabolics).
3. Be extra picky on entries without chasing trades.
4. Understand that loses are part of trading and this is definitely not a good time to “fight the markets”.
5. Focus more on risk management and ways to protect certain positions as needed. Survive to trade another day.
Markets are moving extremely fast and at times quoting systems, platforms can’t even keep up.
The risk is MUCH GREATER than I have seen, yet some traders look for it.
That is ok, as long as you :
Know the rules, understand current margins, know where the circuit breakers are/ limit moves.
Figure out your max risk.
After you do all that, feel free to trade but jumping in and trying to trade without the basic knowledge above is like jumping into a stormy ocean without a life vest…..
Get Real Time updates and more on our private FB group!

 

Futures Trading Levels

7-20-2021

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Economic Reports, source: 

 www.BetterTrader.co

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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 when it comes to Futures Trading.

 

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 judgement in trading.

Weekly Newsletter, Trading Resources, and More! 7/19/21

Posted on by Ilan

Dear Traders,

ALGO Trade Signals
Directly to your Inbox!
·    A dynamic research tool for Futures traders based on revolutionary algorithmic IP. Experienced management team has combined decades of trading experience with superior programming capability to produce this unparalleled algorithmic trading product.
·    Daily email to traders identifying trading opportunities (signals) on more than 20 specific tickers per a discrete set of rules and conditions/algorithms.
·    Packages are signals only (Basic, $99/month) or signals with execution suggestions by VAREA trading specialists (Premium, $199/month) and get a free month of the Premium product when you sign up. Contact your broker for implementation instructions to get you started.
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Webinar Recording: Cannon Trading & CME Group invites you to WATCH recorded webinar from Wednesday July 14, to learn more about Micro WTI Crude Oil futures, a new tool for managing crude oil price exposure.
FREE Futures Forthright Premium eBook
Cannon Trading Is Pleased To Present “Futures Forthright eBook“, Available For Instant Download Written By Cannon Trading Staff
Fresh off the press is Cannon Trading’s new eBook! Written by our very own staff of brokers, this eBook is designed as a guide to the commodities market for both beginners and veterans alike. Inside you can find:
• A plan with steps that may lead to success
• Steps Towards Mastering your Day Trading
• The top mistakes traders make daily
• How to handle the market noise
• and much more…..
The futures industry is complex and risky, which is why you need someone to be forthright with you…. Download eBook instantly.
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Futures Trading Levels

7-19-2021

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Weekly Levels

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Reports, First Notice (FN), Last trading (LT) Days for the Week:
Date Reports/Expiration Notice Dates
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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 when it comes to Futures Trading.

 

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 judgement in trading.

Recorded MICRO Crude Webinar & Levels – July 16th, 2021

Posted on by Ilan

Dear Traders,

Like us on FaceBook!
Get Real Time updates and more on our private FB group!
If you missed our MICRO Crude Oil webinar yesterday, here is the link to the recording.

 

Futures Trading Levels

7-16-2021

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Economic Reports, source: 

 www.BetterTrader.co

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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 when it comes to Futures Trading.

 

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 judgement in trading.

Weekly Newsletter #1057 Fourth of July Trading Schedule; Why Traders Lose Money? & Trading Levels for Week Ahead

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1057

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!
Wishing all of you a safe, relaxing holiday!
Please see trading schedule below.
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Trading 201: Why do most futures traders lose money and how can you improve your odds?

Watch the 45-minute recorded webinar where Ilan shared some of his observations of why a large percentage of traders lose money trading futures.
*Reasons why most traders lose
*Looking at tools you can utilize and improve your odds
*Review different methods/concepts of trading
*Ilan shares many tidbits that can help variety of traders
*Ilan answers questions
Watch the recorded 45-minute webinar which in our opinion contains some of the most valuable advise both new and advanced traders can utilize
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 when it comes to Futures Trading.

 

Futures Trading Levels

7-05/06-2021

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Weekly Levels

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Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

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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 herein 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

Futures Trading Levels for June 30th, 2021

Posted on by Ilan

Cannon Futures Daily Blog

Dear Traders,

Starting June 28, 2021, CME Group has removed the trading halt between 3:15 and 3:30 p.m. CT on CME Globex for Equity Index products.
This enhancement will allow market participants to access liquidity continuously throughout the trading day and manage event risk that occurs during the trading session with greater ease.
Tomorrow is also the last trading day of the month!
Last trading days and first trading days of the months will at times have unique characteristics. Possible larger moves, sharper turns, higher volume.
Large traders/ funds will try to “close the books for the month”, book profits or losses etc.
Do you homework, go over notes from your journal, study the charts from prior last/ first trading days and be prepared.

 

Get Real Time updates and more on our private FB group!
To access a free trial to the ALGOS shown in the chart along with other tools? (Arrows possible buy/sell, diamonds = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

Futures Trading Levels

for June 30th

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Economic Reports, source: 

 www.BetterTrader.co

 

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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 when it comes to Futures Trading.

Futures Trading Levels for June 29th, 2021

Posted on by Ilan

Cannon Futures Daily Blog

Dear Traders,

Starting today, June 28, 2021, CME Group has removed the trading halt between 3:15 and 3:30 p.m. CT on CME Globex for Equity Index products.
This enhancement will allow market participants to access liquidity continuously throughout the trading day and manage event risk that occurs during the trading session with greater ease.
Subject to regulatory review and effective June 28, 2021, CME and CBOT will eliminate the 3:15 p.m. – 3:30 p.m. Central Time (CT) trading halt on CME Globex which currently exists for certain Equity futures and options contracts.
The halt was initially implemented to account for transactions conducted via open outcry in the trading pits and is therefore no longer necessary.
June is almost over and just like that next week is 4th of July and the beginning of what we consider “summer trading”…
Summer trading USUALLY = less volume, narrower ranges but also larger moves on certain reports.
Below is a video I put together a few years ago on trading using overbought and oversold conditions – still very valid in m opinion.

 

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!

To access a free trial to the ALGOS shown in the chart along with other tools? (Arrows possible buy/sell, diamonds = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

Futures Trading Levels

for June 29th

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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 when it comes to Futures Trading.

Economic Reports, source: 

 www.BetterTrader.co

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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 herein 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

Futures Trading Levels for April 22nd, 2021

Posted on by Ilan

_________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

_________________________________________________

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Get Real Time updates and more on our private FB group!
Dear Traders,
Today’s action in Silver, gold, SP and NQ lead me to write the quick piece below.
Few words on BREAKOUT trading.
The concept is one of many different traders use.
Some like to use COUNTRER TREND trading.
others look at ORDER FLOW, some will use support and resistance mainly and hopefully more traders will master a few different techniques and use the appropriate one depending on the type of trading day that is developing in front of their eyes.
The concept of break out trading looks for the market to “snap out” of a certain trading range and continue moving in that direction. The toughest part is to filter out the “fake breakouts” and recognize early enough which breakouts have the potential to be a powerful one.
A few tips to explore:
Look for a breakout on a smaller time frame that will coincide with a longer time frame CURRENT trend. So you may look at a daily trend and look for a breakout on the hourly chart?
You may trade smaller time frames and look for breakouts that will coincide with the 30 minute chart time frame.
Last but not least ( for today only of course as I am sure there are MUCH more than the short few pointers I am sharing….) try utilizing different type of charts and do your homework in regards to which breakouts seem to work better than others. Look at RANGE BAR charts, explore VOLUME charts, maybe even take a look at Renko bars and other types as well.
30 MINUTES chart of ES below with 4 different pointers to look at, marked A through D. CLICK for larger IMAGE. ALWAYS much easier to look back in hindsight and explain what happened….I wish it was that easier when trading live….Click on the chart so you are able to read the pointers along with some insight for educational purposes.
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To access a free trial to the ALGOS shown in the chart along with other tools? (Slanted arrows possible buy, diamonds = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-22-2021

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Economic Reports, source: 

 www.BetterTrader.co

 

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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 judgement in trading.

Weekly Newsletter #1041 Knowing What You Don’t Know in Trading Markets and Resistance Levels for the Week Ahead 3.01.2021

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1041

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!

Trading 101: Knowing What You Don’t Know in Trading Markets

 

From our friend Jim Wyckoff at JimWyckoff.com

The headline of this educational feature may be a bit confusing, but I will explain what I mean shortly. First, I want to reiterate that trading futures, stock and FOREX markets is not an easy undertaking. It disgusts me that there are a few unsavory people in our industry that portray trading as an easy, get-rich-quick scheme, or as some endeavor for which there are “secrets” to be learned from those who hold “trading secrets.”

Folks, the plain truth is that there are no trading secrets and no easy paths to quick success in trading markets. Beware of anyone who tries to tell (or sell) you such. One of the biggest obstacles to success in trading markets is a lack of knowledge and understanding of the process of trading. The “process of trading” includes understanding financial leverage, market behavior and trader psychology. Understanding the process of trading can be achieved with perseverance and a willingness to continue to learn.

It’s not coincidental that trading markets is similar to most other human endeavors: Hard work and experience are required to achieve notable success. A person who enjoys classic automobiles would not attempt to tear down and successfully rebuild an engine without having some previous experience, or without having learned about the workings of an automobile engine—including knowing about the tools involved in the operation.

Click here to read the rest of the article.

Watch a series of videos that include some pointers, ideas for trading techniques and more just like the one below!
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 when it comes to Futures Trading.

 

Futures Trading Levels

3-01-2021

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Weekly Levels

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Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

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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 herein 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 tradin

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.