Non Farm Payroll Tomorrow + Rollover Notice!

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Non Farm Payroll tomorrow morning 8:30 AM EST 

Employment situation from Econoday

Employment situation from Econoday 

Rollover notice 

Rollover Notice for Stock Index Futures

Important notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones etc., it is extremely important to remember that we are now rolling over and trading the June contract.

Starting March. 8th, the June 2018 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the June 2018 contract as of March 8th. Volume in the March 2018 contracts will begin to drop off until its expiration on Friday March 15th.

The month code for June is M8

Traders with electronic trading software should make sure that defaults reflect the proper contract as of Friday morning.

Please close any open March Currency positions by the close on Friday the 16th.

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.

Futures Trading Levels

3-08-2018

Contract June 2018  SP500 Nasdaq100 Dow Jones Mini Russell BitCoin Index
Resistance 3 2777.00 7080.42 25285 1603.13 10986.67
Resistance 2 2759.75 7045.83 25135 1592.97 10543.33
Resistance 1 2754.50 7012.67 25033 1583.33 9991.67
Pivot 2741.25 6980.08 24883 1573.17 9548.33
Support 1 2734.00 6957.92 24781 1563.53 8996.67
Support 2 2720.75 6911.33 24631 1553.37 8553.33
Support 3 2712.50 6892.17 24529 1543.73 8001.67
Contract Apr. Gold May Silver Apr. Crude Oil June  Bonds Mar.  Euro
Resistance 3 1338.7 16.72 62.61 145 1.2562
Resistance 2 1334.2 16.65 62.00 144 16/32 1.2508
Resistance 1 1328.5 16.57 61.16 144  3/32 1.2413
Pivot 1324.0 16.50 60.55 143 19/32 1.2358
Support 1 1318.3 16.43 59.71 143  6/32 1.2263
Support 2 1313.8 16.36 59.10 142 22/32 1.2209
Support 3 1308.1 16.28 58.26 142  9/32 1.2114
Contract May  Corn May Wheat May Beans May SoyMeal Apr. Nat Gas
Resistance 3 402.3 516.7 1082.08 392.33 2.84
Resistance 2 398.0 509.6 1075.67 389.27 2.81
Resistance 1 395.8 504.4 1069.83 386.33 2.78
Pivot 391.5 497.3 1063.42 383.27 2.76
Support 1 389.3 492.2 1057.6 380.3 2.7
Support 2 385.0 485.1 1051.17 377.27 2.70
Support 3 382.8 479.9 1045.33 374.33 2.67

Economic Reports, source: 

http://app.bettertrader.co

Economic Report - Friday, March 9th

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.

Rollover Notice for Stock Index Futures! 3.08.2018

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

____________________________________________________________________

Rollover notice

Rollover Notice for Stock Index Futures

Important notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones etc., it is extremely important to remember that we are now rolling over and trading the December contract.

Starting March. 8th, the June 2018 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the June 2018 contract as of March 8th. Volume in the March 2018 contracts will begin to drop off until its expiration on Friday March 15th.

The month code for June is M8

Traders with electronic trading software should make sure that defaults reflect the proper contract as of Friday morning.

Please close any open March Currency positions by the close on Friday the 15th.

Continue reading “Rollover Notice for Stock Index Futures! 3.08.2018”

Day Trading Mind Traps 3.07.2018

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Trading 102: 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.

Continue reading “Day Trading Mind Traps 3.07.2018”

VOLATILITY Requires Adjustment in Your Trading Tactics 3.06.2018

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

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Heads up:

Wishing everyone a GREAT trading month in March!

Volatility is here. In my opinion, traders need to adjust their trading tactics accordingly.  We will be happy to help, chat trading and more if interested.

Plan your trade, trade your plan!!

Continue reading “VOLATILITY Requires Adjustment in Your Trading Tactics 3.06.2018”

VOLATILITY is a Double Edge Sword 3.02.2018

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

____________________________________________________________________

Heads up:

Wishing everyone a GREAT trading month in March!

Volatility is here. In my opinion, traders need to adjust their trading tactics accordingly.  We will be happy to help, chat trading and more if interested.

Plan your trade, trade your plan!! Continue reading “VOLATILITY is a Double Edge Sword 3.02.2018”

Insights from a Day Trader 2.27.2018

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

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Trading 102: Insights from a Day Trader on preparing for the trading day, mental notes and much more – Written by a current, active day-trader

The following was shared with me by a client of ours, an international trader, who has been trading with us for a few years now. I was VERY IMPRESSED with the content and the thoughts behind this so I asked his permission to share this with our readers and he agreed. The content was originally written in another language and the translation below is intended to try and preserve some of the authenticity of the writing….

Focusing for the Trading Day

  1. I believe that you can earn and make a living from intraday trading on futures contracts. It is very difficult but achievable.
  2. Responsibility – I am absolutely responsible for being an intraday trader in general and for my trading activities in particular. This responsibility is comprehensive, expansive (also subjects that are not directly responsible for me – they are my responsibility !!!) and can not be divided.
  3. My trading plan is orderly and has a positive financial profit expectancy. I believe in her.
Read More

Continue reading “Insights from a Day Trader 2.27.2018”

Trading Systems Updates 2.23.2018

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Trading Systems Updates:

New in 2018, we have expanded the display of trading system reports on our website.

TRADE SMART / BASE TRADING ON ACTUALS ONLY — for the current rankings of trading systems traded at Cannon, click here .

Cannon Trading Co, Inc. is registered with the CFTC and a member of the NFA.

Continue reading “Trading Systems Updates 2.23.2018”

La Niña……. 2.22.2018

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La Niña: Calm Before the Storm in Ag Markets?

By Erik Norland, Senior Economist, CME Group

Highlights

  • Ag options’ implied volatility remains exceptionally low despite La Niña
  • Could be due to decline in U.S. status as predominant global grain exporter
  • Economic conditions could temper impact of La Niña as in 2009, 2010
  • La Niña might not further depress already low grain prices

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Continue reading “La Niña……. 2.22.2018”

Seasonality in Futures Trading 2.21.2018

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Seasonal Futures Trading

There are seasonal commodity trends that may reoccur within the futures market. This could help guide traders and build a plan for a seasonal futures trading strategies.

Trading Commodity Seasonal Patterns

Every calendar year there are different seasons. It is how we plan our lives. Weather is the first to come to mind, but there are holidays, sports, shopping and many more that help break up the monotony of our day to day patterns. The commodities market is no different. Just as you use a calendar to plan and differentiate Thanksgiving from Opening Day in baseball, you can use the same calendar to blueprint possibly when wheat futures will be high and copper prices low. Traders can use these seasonal patterns to their advantage because it allows a certain degree of predictability of future price movements, rather than being bombarded by an endless stream of often contradictory market noise. Now of course there are other factors too numerous to list that can affect the futures markets, but certain conditions and events reoccur at annual intervals and help traders anticipate where the market is headed.

Seasonality of Futures

Continue reading “Seasonality in Futures Trading 2.21.2018”

Trading Levels for Feb. 20th 2018

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With the recent volatility, I thought this would be a good share…..

Most Common Pitfalls To Avoid When Trading Futures-Commodity Futures

500 experienced futures brokers were asked what caused most futures traders to lose money when comes to trading futures.

Their answers reflected the trading experience of more than 10,000 futures traders.  Download the PDF and find out what they said.

1.) Have a Plan

Many futures traders trade without a plan.

READ THE REST AT:

https://www.cannontrading.com/tools/education-top-50-futures-trading-rules1

Continue reading “Trading Levels for Feb. 20th 2018”