Open An Account
Free Demo Account Subscribe Here

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.

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

 

divider black 190

 

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.

 

divider black 190

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

divider black 190

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

divider black 190 Continue reading “Monthly Continuation Chart | Support and Resistance Levels”

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

divider black 190

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

divider black 190

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

divider black 190

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

divider black 190

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

divider black 190

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!

divider black 190

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

divider black 190

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

Important Price Levels SP 500 – Market Leader | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart

divider black 190

1. Market Commentary

Volatility remains high and what I wrote the last few days, still holds:

As far as the daily chart, I am now confused again….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks.

With the close today I am now leaning towards the long side…..BUT still not excited about the risk / reward scenario. Continue reading “Important Price Levels SP 500 – Market Leader | Support and Resistance Levels”

Trading Levels & Economic Reports for 10-20-2011

Posted on by Ilan

 

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart

divider black 190

1. Market Commentary

Volatility remains high and what I wrote yesterday, still holds:

As far as the daily chart, I am now confused again….I got tempted on the short side and got burnt very quickly today….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks.

One more point that I would like to add that have helped me when I followed and hurt me when I ignored…

When volatility is higher than normal, like we have now, I try to REDUCE my trading size. This allows me to stay in a trade with higher comfort level instead of getting out too soon from winners and too late from losers….The principal is correct regardless of volatility but even more so when markets experience fast and sharp moves. Continue reading “Trading Levels & Economic Reports for 10-20-2011”

Take Note of the Columbus Day Schedule for Monday | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports
5. Highlighted Earnings Releases

divider black 190

1. Market Commentary

This morning un employment report lived up to its expectations….providing a volatile two sided action.

Subscribers to our daily webinar or to the LEVEX DIAMOND algo had access in real time to this 15 minutes mini SP chart below.

LEVEX DIAMOND Algo in the S&P 500 Futures Chart from October 7, 2011

LEVEX DIAMOND Futures Chart from October 7, 2011 Continue reading “Take Note of the Columbus Day Schedule for Monday | Support and Resistance Levels”

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.