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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.

Futures Trading Advice for Beginners Infographics

Posted on by Ilan

Do you often find yourself overwhelmed by the game of numbers that dictates the nerves of the markets? Are you often perplexed by the amusing gains and losses that investors count their wealth by? Here is an interesting way to understand commodities and trading, for all those who are inquisitive about the art of investment. In case you think commodities can be your ticket to extra earnings, the infographic presents some hard facts that you ought to rote before you fall in the temptation of trading. That said, once you have the basics by your side and the facts by your fingers, trading in commodities can be another asset class to consider.

The infographic that Cannon presents, is a graphic insight into how investing in commodities through futures should be done. It also establishes certain general tips one can follow when trading futures. The infographic uses basic examples from day to day life to explain difficult concepts of trading, a matter that generally requires expert intervention or hours of discussion so as to understand thoroughly. The basic features of futures trading have also be highlighted in the simplest possible manner, through this infographic made by Cannon Trading.

 

Futures Trading Infographics
This Infographic created by:: Cannon Trading

Continue reading “Futures Trading Advice for Beginners Infographics”

Wednesday Morning Support and Resistance

Posted on by Ilan

Sorry for the hiatus! We are BACK and here for you.

Here’s a morning cup o’ joe for all you futures traders, our morning support and resistance levels. Good trading!

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Support and Resistance Levels – S&P 500, Nasdaq 100, Dow Jones, Mini Russell 2000, 30-Year US Bond, 10-Year US Note

Contract (Dec. 2011) Mini S&P 500 Mini Nasdaq 100 Dow Jones Mini Russell 2000 30-Year US Bond 10-Year US Note
Resistance Level 3

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Resistance Level 2

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Resistance Level 1

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Support Level 1

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Support Level 2

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Support Level 3

 1240.25

1233.75

 

1226.5

 

1212.5

 

1207.75

 

1193.5

 2300

2289

 

2278

 

2255

 

2240

 

2216

 12040

11990

 

11935

 

11822

 

11689

 

11556

 731.8

726.7

 

721

 

710.2

 

707.4

 

696.50

 14514

14400

 

14308

 

14213

 

14130

 

14103

 13024.5

13022.5

 

13019

 

13003.5

 

12927

 

12912

Continue reading “Wednesday Morning Support and Resistance”

Daily Chart of the March Mini SP 500 and Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5. Economic Reports for Monday, December 12, 2011

 

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1. Market Commentary and Daily Mini S&P 500 Chart

Front month for equity indices is MARCH 2012

mini SP, mini Nasdaq, mini Russell, Mini Dow and few more are all March 2012

Symbol in most platforms for March mini SP is ESH2. Pay attention please!

One day FOMC meeting tomorrow. Statement will be released around 2:15 PM EST

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

My observations suggest choppy, low volume up until announcement, followed by some some sharp volatile moves right during and after the announcement. However, with tomorrow early morning reports and recent volatility, we may see wild action through out.

One advice everyone can benefit from is, reduce your trading size in proportion to the increase in volatility. This should help your comfort level while in the day-trade.

Daily chart of March Mini SP 500 for your review below. Break below 1217 can trigger additional move down, break above 1255 can trigger additional move upside:

450 Continue reading “Daily Chart of the March Mini SP 500 and Support and Resistance Levels”

Daily Mini SP 500 | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Daily Mini S&P Chart
5. Economic Reports for Wednesday, November 30, 2011

 

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1. Market Commentary

Wishing all of you a great trading month in December.

Also heads up, if you are trading GOLD, SILVER, BONDS and GRAINS, it is time to trade the March contract for these markets ( February Gold) as December is entering delivery period.

 

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Continue reading “Daily Mini SP 500 | Support and Resistance Levels”

Monthly Continuation Chart | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Economic Reports for Wednesday, November 30, 2011

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As November is almost behind us, (tomorrow is the last trading day for November ) I thought it would be appropriate to share the mini SP monthly chart for a MUCH longer term picture.

I know most of the readers of this blog are day-traders by nature but it is always wise to have a view of different time frames.

Monthly chart below, along with some possible Elliott Wave counts as well as some Fibonacci retracement levels.

Also heads up, if you are trading GOLD, SILVER, BONDS and GRAINS, it is time to trade the March contract for these markets ( February Gold) as December is entering delivery period.

monthly continuation

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Thanksgiving Day Trading Schedule | Support and Resistance Levels

Posted on by Ilan

 

Jump to a section in this post:
1. Market Commentary and Thanksgiving Day Trading Schedule
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Daily Mini S&P Chart
6. Economic Reports for Wednesday, November 23, 2011

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Market Commentary and Thanksgiving Day Trading Schedule

Happy Thanksgiving to all of you!

Make sure you pay attention to trading hours for both Thursday and Friday this week.

Detailed hours are below the chart.

As far as market outlook, my view last week came true and the question now is how far this sell off will continue.

From Nov. 17th blog: Bearish close today on stock index futures and as I mentioned yesterday, a break below 1204 on the Dec. SP 500 can trigger another leg down.

Thanksgiving Day Trading Schedule
Wednesday, November 23 Hours

CME Group (Floor)
Regular Close
NYMEX (Floor)
Regular Close
GLOBEX
Regular Close/Open
* Exceptions: Livestock, GSCI, Lumber, Crude Palm Oil, Weather, Grain, Ethanol and Dairy products
ICE
Regular Close/Open
EUREX
Regular Close
OneChicago
Regular Close
NYSE
Regular Close
Forex
Regular Close

Thursday, November 24 Hours

CME Group (Floor)
Closed
NYMEX (Floor)
Closed
GLOBEX
Closed: Livestock, GSCI, Lumber, Crude Palm Oil, Weather, Grain, Ethanol and Dairy products
10:30 am Close: Equity products
12:00 pm Close: Interest Rate, Foreign Exchange, Real Estate and Forestry products
12:15 pm Close: Green Exchange, NYMEX, COMEX and DME products
*Trading Resumes at the times listed below*
5:00 pm Open: Equity, Interest Rate, Foreign Exchange, Crude Palm Oil, Livestock, GSCI, Forestry, Weather, Real Estate, Green Exchange and NYMEX/COMEX/DME products
6:00 pm Open: CBOT/KCBT/MGEX Grain and Ethanol products
*Dairy products will remain closed until their regularly scheduled open on Sunday, November 27th
ICE
Closed: Soft and Open outcry products
10:30 am Close: Index products
12:00 pm Close: Financial products
EUREX
Closed: Hurricane Futures, US, Canadian and Brazilian Equity Derivatives (No cash payment in USD)
*All other products regular close
OneChicago
Closed
NYSE
Closed
Forex
Regular Close

Friday, November 25 Hours

CME Group (Floor)
Closed: Dairy
12:00 pm Close: Foreign Exchange, Interest Rates, Commodities, GSCI, Weather and Real Estate products
12:02 pm Close: CME Commodity options
12:15 pm Close: Equity products
12:30 pm Close: CBOT Mini-Grains
NYMEX (Floor)
12:30 pm Close
GLOBEX
Closed: Dairy products
12:00 pm Close: Agricultural, CBOT Grain futures & options, Ethanol, KCBT Grain, Forestry, Weather and GSCI products
12:02 pm Close: CME Commodity options
12:15 pm Close: Equity, Interest Rate, Foreign Exchange, Real Estate, MGEX Grain and KOSPI 200 products
12:30 pm Close: CBOT Mini-Grains
12:45 pm Close: Green Exchange and NYMEX/COMEX/DME products
ICE
11:45 Close: Open Outcry Soft products
12:00 Close: Soft and Open Outcry Financial products
12:15 Close: Financial, Index and Open Outcry Index products
EUREX
Regular Close
OneChicago
12:00 pm Close
NYSE
12:00 pm Close
Forex
Regular Close
*All times listed in Central Time
The above calendar is compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The closing times for certain contracts may have been rescheduled.

Please visit CME at:

http://www.cmegroup.com/tools-information/holiday-calendar/files/2011-thanksgiving.pdf

and the ICE exchange at

https://www.theice.com/marketdata/calendar/CalendarList.shtml?calendar=Holiday&calendar=SpecialTradingHours&markets=ICE%20Futures%20Europe&markets=ICE%20Futures%20Canada&markets=ICE%20OTC&markets=ICE%20Futures%20U.S.&markets=ICE%20Trust%20U.S.&markets=ICE%20Clear%20Europe%20CDS Continue reading “Thanksgiving Day Trading Schedule | Support and Resistance Levels”

Fifteen Minute Mini SP and Ten Year Notes Charts | Looking at Markets for Day-Trading | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Economic Reports for Friday November 11, 2011

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1. Market Commentary

Another trading day brings me to a different topic.

Most of our clients trade stock index futures, like mini SP 500, Mini Russell, Mini Dow Jones futures as well as the DAX and eurostoxx over at Europe ( which appeal to some traders because of the different times these markets are active) etc.

Even within this market group, different markets will behave differently because of difference in the underlying product as well as volume and more. Example the mini Russell 2000 versus the mini SP500.

The mini Russell is a little more “erratic”, bigger, spikier, quicker moves. Mainly because it has less volume than the mini SP 50 but also because the cash index includes the 500 SP stocks plus additional 1500 stocks….

With the growth of electronic trading, volume in Grains, interest rates, currencies, metals, energies and other segments have grown enough that many of these markets are “suitable” for day-trading.

The following is a small list of markets you may want to follow, trade in demo and consider for your day-trading. Another point to keep in mind that some of these markets have lower exchange fees, hence your total transaction costs can be lower!

Indices as discussed above

Currencies ( Euro, Yen, British Pound, Canadian Dollar, Australian dollar)

Interest rates ( US bonds/ 30 years, Ten Years, Five years and even the ULTRA bond contract is picking up volume)

Energies ( mostly Crude oil and Natural gas)

Metals ( gold and silver)

Grains ( beans, corn and wheat)

So the main point I am trying to make today is that there are other markets you may want to look at for day-trading. Some markets fit some traders better because maybe they “respect the trend better”, maybe less volatile or simply because they just are a better match for the trader’s personality on the other side. Some markets are more suitable for “trend following” intraday techniques, while other maybe better for counter trend trading style.
Below you will see two different 15 minutes charts, one of the mini SP 500, the other of the Ten year notes. Continue reading “Fifteen Minute Mini SP and Ten Year Notes Charts | Looking at Markets for Day-Trading | Support and Resistance Levels”

Daily Live Chart Service | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Daily Mini S&P Chart
5. Economic Reports for Wednesday November 2, 2011

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I share my studies and ALGO in two ways.

The first is by having a daily live chart service, where subscribers/ trial members get a unique invitation to view my screen along with live charts, trade signals and trade philosophy. I call it live webinar.

The second method is available for sierra charts / ATcharts users . Those who are interested will get my ALGO/ study pac via email and will be able to apply it on their sierra charts for different markets, different time frames etc.

Both methods are available for a free trial if you did not have one yet.
To read more and request a trial, visit: http://www.cannontrading.com/education-day-trading-webinar.php or simply send me an email with your sierra/ATcharts user name at ilan(at)cannontrading.com Continue reading “Daily Live Chart Service | Support and Resistance Levels”

Trading Multiple Time Frames | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Daily Mini S&P Chart
5. Economic Reports for Wednesday November 2, 2011

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Market Commentary

DAYLIGHT SAVING ends this weekend!

International traders especially, please pay attention we are moving the clocks an hour back. Continue reading “Trading Multiple Time Frames | Support and Resistance Levels”

Real Time Day Trading Signals Service | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Real Time Day Trading Signals Service
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Economic Reports for Thursday November 3, 2011

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1. Real Time Day Trading Signal Service

Your GPS to the Futures Market

Would you like access to intra-day charts with signals like the one below?

real time day trading signals service

We invite you to a free two week trial of our Real-Time Day Trading Signal Service, a streaming visual of trading signals overlaid on live charts of three key markets: the E-Mini S&P 500, Crude Oil, and the Euro.

1.) Live charts with trading signals
2.) Trade management commentary by Ilan Levy-Mayer, Vice President of Cannon Trading and President / AP of LEVEX Capital Management Inc., a registered commodity trading advisor, who explains his response to the trade signals during periods of high market volatility.

Sign up for your free trial here!

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2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000

Contract (Dec. 2011) SP500
(big & Mini)		 Nasdaq100
(big & Mini)		 Dow Jones
(big & Mini)		 Mini Russell
Resistance Level 3 1255.50 2362.00 12055 751.47
Resistance Level 2 1246.95 2343.00 11936 741.63
Resistance Level 1 1240.10 2330.00 11854 734.67
Pivot Point 1231.55 2311.00 11735 724.83
Support Level 1 1224.70 2298.00 11653 717.87
Support Level 2 1216.15 2279.00 11534 708.03
Support Level3 1209.30 2266.00 11452 701.07

3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds

Contract Dec. Gold Dec. Euro Nov. Crude Oil Dec. Bonds
Resistance Level 3 1773.2 1.4021 96.63 143 26/32
Resistance Level 2 1759.4 1.3923 95.21 142 31/32
Resistance Level 1 1748.1 1.3829 93.81 142 16/32
Pivot Point 1734.3 1.3731 92.39 141 21/32
Support Level 1 1723.0 1.3637 90.99 141 6/32
Support Level 2 1709.2 1.3539 89.57 140 11/32
Support Level 3 1697.9 1.3445 88.17 139 28/32

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4. Economic Reports for Thursday November 3, 2011

Unemployment Claims
8:30am

Prelim Nonfarm PRoductivity q/q
8:30am

Prelim Unit Labor Costs q/q
8:30am

Minimum Bid Rate
8:45am

ECB Press Conference
9:30am

ISM Non-Manufacturing PMI
10:00am

Factory Orders m/m
10:00am

Natural Gas Storage
10:30am

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.