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Category: Trading Guide

Trading guide, as you can understand from the term, is a compilation of tips and tricks that can help you in trading. Whether you are new to the world of trading or are an expert in it, a trading guide is a very useful document.

Moreover, every trading guide has a specific purpose. So, if you are thinking about trading, a trade guide will serve you like a self-help manual. So, whether it is about trading options, metals, grains or any other futures contract– a trading guide has all the information in it.

You don’t need to buy one, for you will able to find a number of them online. We at Cannon Trading help you make the most of your trading ventures. Therefore, we have compiled some of the best trading guides for you to learn from. Listed under this category archive are some trade guides using which you can use to help you succeed in many trading ventures. There is enough information in these guides that can help you master the art of trading futures and options smartly.

Notes from a Day Trader + Levels for April 23rd

Posted on by Ilan
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The Week Ahead and Controlling your Emotions

by John Thorpe, Senior Broker

No Fed speakers this week, it is the blackout period in advance of next weeks FED meeting and rates decision.

Look for earnings to move the market this week  MSFT, GOOG, META, XOM, Visa, TSLA

Last week, my colleague posted an article about FOMO just about the same time a client of mine was battling his own fear of missing out.

Of course I asked my client if , after redacting account information, he wouldn’t mind if I shared his “journal Entry” with everyone.

 

John,

I’ll give you an explanation of what happened yesterday. After we talked I left for my job. I returned at 2:30 and saw that I missed all the “short” activity yesterday.

Disappointed, I made the mistake of trying to catch up . I had several positive trades and then several negative trades that put me in the negative for the day.

I was active in a “short” trade, sitting at my desk. I nodded off. I don’t know how long, but it must have been enough seconds that the price action had dramatically turned “long”. Unfortunately, I nodded off with my hand on my mouse. It seems that I touched the mouse and now I discovered that I had clicked a second contract. I was hoping to recover the $1800 loss but it was too late.

1. I went back to practice simulation. First on the 15th from 9 AM and with 3 clicks I had made $2300. Then stopped while ahead.

2. Today I again started practice at 9 AM and within 2 hours made $530. Then stopped while ahead My mistakes. What do I learn from this:

1. Don’t fall asleep while trading.

2. Don’t fall asleep with your finger hovering over the mouse.

3. Stop when you’re ahead and don’t try to make money on the short price action movements.

4. Reminding again to only trade with the trend.

One of the most common pitfalls of traders in Futures Trading is the fear of missing out (FOMO).

Understanding FOMO in Trading:

  • FOMO, or the fear of missing out, is a powerful emotion that can cloud judgment and lead to impulsive decisions.
  • Recognizing the signs of FOMO is crucial for traders to maintain a disciplined approach to their strategies.

The Role of Emotions in Trading:

  • Emotions play a significant role in trading, influencing decisions and reactions to market movements.
  • Acknowledging emotions like greed, fear, and excitement is the first step towards effective emotional control.

Strategies for Controlling Emotions: 

1/ Establishing a Trading Plan:

Having a well-defined trading plan helps set clear goals and guidelines, reducing the influence of emotions.

2/ Setting Realistic Expectations:

Realistic expectations prevent disappointment and impulsive actions based on unrealistic goals.

3/ Utilizing Risk Management:

Implementing risk management strategies ensures that trades are within acceptable risk limits.

4/ Taking Breaks:

Stepping away from the screen during intense market movements can provide a fresh perspective and prevent emotional reactions.

Mindfulness Techniques:

  • Incorporating mindfulness practices, such as deep breathing or meditation, can help traders stay focused and calm during stressful trading situations.

Learn from Past Trades:

  • Analyzing past trades, especially those influenced by emotions, provides valuable insights for improvement.
  • Keeping a trading journal helps identify patterns in emotional responses and areas for growth.

 

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Daily Levels for April 23rd, 2024

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thumbnail?url=http%3A%2F%2Fi.ytimg.com%2Fvi%2FJnHAMUGdNoM%2Fhqdefault

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
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Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

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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: Role of Speculators, Coffee Outlook & Trading Levels for April 22nd

Posted on by Ilan
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Cannon Futures Weekly Letter Issue # 1190

In this issue:
  • Important Notices – Israel, Iran, PCE Report & More
  • Futures 101 – The Role of Speculators in Futures Trading
  • Hot Market of the Week – July Coffee
  • Broker’s Trading System of the Week – NQ intraday System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

Important Notices –

  • The situation in the Middle East will loom over the markets next week. More on that below.
  • Keep an eye on these potential futures market movers:
  • It was hardly unexpected, but Israel’s missile strike on Iran Friday may foreshadow a dangerous series of tit-for-tat retaliation between the Middle East powers – and unsettle world markets. At the same time, the limited scale of the attack and Iran’s muted response appears so far to signal a successful effort by diplomats who have been working to avert all-out war.
  • At the outset of Israel’s offensive last night, volatility amplified in key futures markets – stock indexes (S&P 500, Dow, Nasdaq), currencies, energies (crude oil), metals (gold), financials (30-yr. bonds, 10-yr. notes). Into late evening and on into today, there has been a virtual across-the-board drop-off in the inflated price fluctuation seen when news broke of the military action.
  • GDP and PMI along with homes sales, durable goods and overall a packed week with economic reports.
  • PCE Friday will provide additional clues as to the future of interest rates
  • big earnings week MSFT, GOOG, META, XOM, Visa, TSLA
  • Volatility in Cocoa and Coffee continues. Copper broke higher.

 

 

 

Trading Resource of the Week: Understanding the Role of Speculators

What Are Speculators?
Speculators are primary participants in the futures market. A speculator is any individual or firm that accepts risk in order to make a profit. Speculators can achieve these profits by buying low and selling high. But in the case of the futures market, they could just as easily sell first and later buy at a lower price.
Obviously, this profit objective is easier said than done. Nonetheless, speculators aiming to profit in the futures market come in a variety of types. Speculators can be individual traders, proprietary trading firms, portfolio managers, hedge funds or market makers.
Individual Traders
For individuals trading their own funds, electronic trading has helped to level the playing field by improving access to price and trade information. The speed and ease of trade execution, combined with the application of modern risk management, gives the individual trader access to markets and strategies that were once reserved for institutions.
Proprietary Trading Firms
Proprietary trading firms, also known as prop shops, profit as a direct result of their traders’ activity in the marketplace. These firms supply their traders with the education and capital required to execute a large number of trades per day. By using the capital resources of the prop shop, traders gain access to more capital than they would if they were trading on their own account. They also may have access to the same type of research and strategies developed by larger institutions.
Portfolio or Investment Managers
A portfolio or investment manager is responsible for investing or hedging the assets of a mutual fund, exchange-traded fund or closed-end fund. The portfolio manager implements the fund’s investment strategy and manages the day-to-day trading. Futures markets are often used to increase or decrease the overall market exposure of a portfolio without disrupting the delicate balance of investments that may have taken a significant effort to build.
Hedge Funds
A hedge fund is a managed portfolio of investments that uses advanced investment strategies to maximize returns, either in an absolute sense or relative to a specified market benchmark. The name hedge fund is mostly historical, as the first hedge funds tried to hedge against the risk of a bear market by shorting the market. Today, hedge funds use hundreds of different strategies in an effort to maximize returns. The diverse and highly liquid futures marketplace offer hedge funds the ability to execute large transactions and either increase or decrease the market exposure of their portfolio.
Market Makers
Market makers are trading firms that have contractually agreed to provide liquidity to the markets, continually providing both bids and offers, usually in exchange for a reduction in trading fees. Market makers are important to the trading ecosystem as they help facilitate the movement of large transactions without effecting a substantial change in price. Market makers often profit from capturing the spread, the small difference between the bid and offer prices over a large number of transactions, or by trading related futures markets that they view as being priced to provide opportunity.
Conclusion
All types of speculators bring liquidity to the market place. Providing liquidity is a crucial market function that enables individuals to easily enter or exit the market. Though speculative trading activity generates considerable liquidity, all market players benefit. In contrast to speculators who aim to profit by assuming market risk, some buyers and sellers have a vested interest in the underlying asset of each contact. These market participants aim to offset or eliminate risk and are referred to as hedgers.

 

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  • Hot Market of the Week – July Coffee
Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
July Coffee
July Coffee satisfied its third upside PriceCount objective in where it would be normal to get a near term reaction in the form of a consolidation or corrective trade, at least. At this point, IF the chart can sustain additional upside we are left with thelow percentage fourth count to aim for just above $300.
PriceCounts – Not about where we’ve been , but where we might be going next!
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The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

  • Broker’s Trading System of the Week

With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
PRODUCT
SYSTEM TYPE
Intraday
COST
USD 55 / monthly
Recommended Cannon Trading Starting Capital
$25,000
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The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Would you like to receive daily support & resistance levels?
Yes
S
No
S

 

Daily Levels for April 22nd 2024

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Trading Reports for Next Week

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First Notice (FN), Last trading (LT) Days for the Week:
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Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.

FOMO May be Your Worst Enemy when it Comes to Trading + Levels for April 19th

Posted on by Ilan
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“Mastering the Market: Strategies to Overcome FOMO in Day Trading”.

By Ilan Levy-Mayer, VP

The unpredictable fluctuations in stock index futures can prompt a discussion on a significant challenge that day traders often encounter: the Fear of Missing Out (FOMO). This phenomenon is particularly prevalent in day trading, where the rapid pace, high leverage and high stakes can lead to hasty decisions.

Imagine a scenario where a trader is monitoring the charts and notices a significant downward trend. The immediate thought might be a concern that the market is on the verge of plummeting to new lows. While this could indeed happen, the trader also has a guideline: avoid initiating short positions when the market is below the lowest Volume Weighted Average Price (VWAP) band. This rule is based on the reasonable expectation that the market may rebound before continuing its descent. However, the swift movements of the market, coupled with emotional impulses and the desire to recoup losses, can result in a trader disregarding their own rules in the heat of the moment.

So, how can one manage this internal conflict? Here are some strategies:

• Document your trading rules. Writing them down can reinforce their importance and make it easier to adhere to them.

• Implement a system of self-discipline. If you find yourself breaking your own rules, consider setting consequences for such actions.

• Accountability is key. Enlist a trusted individual to review your trades with you and hold you responsible for your trading decisions.

• Practice mindfulness. Before making a trade, take a moment to breathe deeply and count to five. This brief pause can help you maintain composure and avoid impulsive actions.

• Embrace patience. Often, the decision not to trade can be as crucial as the trades you make. By reducing the number of impulsive trades and focusing on deliberate, well-thought-out actions, you are likely to see progress and improvement in your trading performance.

Remember, overcoming the urge to act on FOMO is a challenging but essential part of becoming a successful day trader. It’s about finding a balance between being proactive and not letting emotions dictate your trading strategy.

 

 

 

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Daily Levels for April 19th, 2024

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thumbnail?url=http%3A%2F%2Fi.ytimg.com%2Fvi%2FJnHAMUGdNoM%2Fhqdefault

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
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Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

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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.

Range Bar, Volume, Renko Charts + Levels for April 12th

Posted on by Ilan
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Plenty of price action of the PPI report this morning!

If you are a day trader in days like today, waiting 15 minutes for the bar chart to complete may seem like an eternity…

This is when applying either RANGE bar charts or VOLUME bar charts can be handy!

When it comes to short term trading I am a fan of using volume charts, tick charts, range bar charts and Renko charts rather than the traditional time charts like the 1 minutes, 5 minutes etc.

My rule of thumb is that if you as a trader make decisions based on charts that are less than 15 minutes time frame, it may be worth your time to research, back test and do some homework as to potentially using other type of charts like volume charts , Range charts etc.

Volume charts will draw a new bar once a user defined number of contracts traded. Example mini SP 10,000 volume chart will draw a new bar once 10,000 contracts traded.

Range bar charts will draw new charts once price action has exceeded a user pre define price or ticks range. Example might be an 18 ticks range bar chart on crude oil.

While the volume charts rely ONLY on volume, the range bar charts rely ONLY on price action.

Their main advantage over traditional time charts is twofold in my opinion:

1. If the market is moving fast, reports came out or there is heavy volume in the market, the traditional 5 minute chart will need 5 minutes to complete the next bar before it provides you with a signal…if you day traded futures before you will know what 5 minutes can do….The volume charts or range bar charts in this case will complete the bars MUCH faster because there is strong price action and strong volume and will be able to provide a signal faster than the time charts.

2. On the flip side, there are times when the market is dead…low volume, sideways, choppy action. If you are using the 3 minute chart and a moving avg. cross over, you may get a signal simple because time has passed and the moving averages crossed even though the market is pretty dead….If you are using a volume chart and the market is slow…it will take a while for the bars to complete and hence it may filter out some “noise” in the market.

 

 

 

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Daily Levels for April 12th, 2024

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thumbnail?url=http%3A%2F%2Fi.ytimg.com%2Fvi%2FJnHAMUGdNoM%2Fhqdefault

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
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Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

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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.

Markets are closed tomorrow! Futures Trading Levels for April 1st

Posted on by Ilan
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Markets are Closed Tomorrow!

 

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Plan your trade and trade your plan

 

 

 

 

 

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Daily Levels for March 28th, 2024

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Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
FF 3.28

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

3b644da2 2bee 4d39 8d98 5208a20bec39

* 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.

Good Friday Schedule and Futures Trading Levels for March 28th

Posted on by Ilan
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Good Friday Holiday Trading Schedule – 2024

  • Thursday March 28, 2024 all CME markets have a regular close.
  • No CME trading for Friday March 29, 2024 trade date in observance of Good Friday.
  • See full schedule here.

 

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Plan your trade and trade your plan

 

 

 

 

 

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Daily Levels for March 28th, 2024

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Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
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Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

3b644da2 2bee 4d39 8d98 5208a20bec39

* 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 Hueber Report: Now is it time to worry? Trading Levels for March 27th

Posted on by Ilan
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The Following is analysis from Dan Hueber. You can find his analysis on Our QT Market Trading platform

 

Weekly Hueber Report: Now is it time to worry?

 

According to the Federal l Reserve Bank of New York, household debt in the United States grew by $212 billion to reach $17.5 trillion in the fourth quarter of last year. The lion’s share of this debt is wrapped up in mortgages and home equity lines of credit, which grew $112 billion during the quarter and reached $12.25 trillion. Auto loans rose $12 billion to $1.61 trillion, and student loans were flat at around $1.6 trillion, but the most significant percentage growth came via credit cards, which jumped $50 billion to $1.13 trillion.

 

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Do keep in mind that as the overall population continues to grow, it is only natural for debt to expand along with it. Still, when you add in the fact that savings went backward during that same period, it would appear that the American consumer is increasingly relying on debt to meet day-to-day needs and wants. I should point out that savings balances have not slipped to as low as they were during the second quarter of 2022 and remain relatively consistent with the period between 2010 and 2018. However, both the amount being tucked away and the personal savings rate have been trending lower again.

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There is one more telling chart that we need to throw into the mix—the delinquency rate on credit cards. While nowhere near the nearly 7% level witnessed during the Great Recession or even the averages seen throughout much of the 1990s, it has been climbing steadily for the past two years and has risen to the highest level since the second quarter of 2011.

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Granted, not all of this news has been bleak, at least not if you are in the banking sector. Last year, they reported an estimated $92 billion in earnings, and this after taking into account funding costs and loan losses. This is more than double what they were earning from credit cards a decade ago. As the old proverb says, one man’s poison is another man’s pleasure. While there are a number of other elements that factor into this, it should come as no surprise that recent surveys find that 41% of Americans believe they are worse off than four years ago. In case you were wondering, 24% say they are better off, and 34% said they were about the same. That still leaves the majority of people thinking that at least they have been holding their own, but these debt trends would appear to suggest that number may shrink in the months ahead.

**The views expressed above are entirely those of the author.

DH

 

Plan your trade and trade your plan

 

 

 

 

 

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Daily Levels for March 27th, 2024

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Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
6eaa8ebc d1a1 4b54 9f6f d28f636b6a04

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

3b644da2 2bee 4d39 8d98 5208a20bec39

* 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.

What to expect on this short trading week? Trading Levels for March 26th

Posted on by Ilan
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What to expect on this short trading week?

With Good Friday coming up we will only have 4 days trading week.

Fed Chair Jay Powell said Wednesday that central bank officials discussed a strategy for how to slow the shrinking of the Fed’s balance sheet,

The plan to slow down the balance-sheet runoff could come as soon as May.

The Fed’s securities holdings topped out at $9 trillion in 2022 — the year it decided to pivot and act aggressively to tamp down rising inflation. The strategy is known as quantitative tightening, or QT. QE refers to the Fed buying assets to lower longer-term interest rates, and QT means the Fed is selling assets to put upward pressure on longer-term rates. QE is used when the Fed wants to stimulate the economy and reduce interest rates on longer-term securities. The Fed tried QT once before, starting in 2017, when Janet Yellen oversaw the central bank. That shrinking of its portfolio drained bank reserves held at the central bank and led to some unexpected turbulence in 2019 after Powell had taken over.

Expectations that the Fed would cut rates by June rose to around 75% in futures markets later Wednesday, up from closer to 50% earlier this week, according to CME Group.

What about the hot PPI and CPI reports that came in last week? The latest data haven’t really changed the overall story, which is that of inflation moving down gradually on a sometimes-bumpy road toward 2%.

Many economists and some inside the Fed anticipated that the central bank’s rate increases to bring inflation down would lead to higher unemployment and a recession. But economic growth has shown surprising resilience even as wage and price increases have slowed thanks to healed supply chains and an influx of workers into the labor force.

Using the Fed’s preferred gauge, inflation excluding volatile food and energy prices has fallen to around 2.8% recently, down from 4.8% one year ago.

FED said while officials didn’t “see this in the data right now,” a significant slowdown in the labor market “could also be a reason for us to begin the process of reducing rates.

Wage growth has continued to slow, and unemployment has steadily inched up, from 3.4% last April to 3.9% in February.

The stakes are high for Fed officials, who are trying to navigate two risks. One is that they ease too soon, allowing inflation to become entrenched at a level above their 2% target. The other is that they move too slowly and the economy crumples under the weight of higher rates.

The Summary of Economic Projections expects gross domestic product growth to hit 2.1% by the end of 2024, up from December’s 1.4% forecast.

Higher housing prices and stock-market gains are boosting wealth and thus supporting consumption, especially of high-income households. The price of bitcoin has recently surged to records, a sign of exuberant risk-taking.

Homebuilders ETF: XHB. Stocks – KBH, TOL, LEN.

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Plan your trade and trade your plan

 

 

 

 

 

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Daily Levels for March 26th, 2024

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b0ba1776 c0cd 4536 92c1 eef6595d7173

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
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Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

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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.

FOMC Rate Decision Tomorrow + Levels for March 20th

Posted on by Ilan
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FOMC Rate Decision Tomorrow

 

The last few FOMC meetings I looked for trades until around 930 AM Central time and then somewhat “took a step back”.

 

I would then follow closely around 1 PM Central when the announcement comes out but try to not pull the trigger until 1:15/ 1:30 when the smoke clears.

CURRENTLY the market is expecting no change in rates. Language will be watched closely.

 

This is of course just my personal preferences and every trader is different.

 

Take notes after the trading session so you can look back and refer the next FOMC meeting….

 

Below are some additional tips/observations I have taken notes of for myself:

 

·    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 4425.00 with a stop at 4419.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 4419.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).

 

·    Expect the higher volatility during and right after the announcement

 

·    Expect to see some “vacuum” ( low volume, big zigzags) right before the number.

·    Consider using automated stops and limits attached to your entry order as the market can move very fast at times.

 

·    Know what the market was expecting, learn what came out and observe market reaction for clues

 

·    The rate announcement comes out exactly at 1 PM central. As of this morning there is a 98% chance of no change in rates.

 

·    Traders will pay EXTRA attention to the language and the Q&A which starts at 1:30 PM Central

 

·    Be patient and be disciplined

 

·    If in doubt, stay out!!

 

 

 

 

Plan your trade and trade your plan

 

 

 

 

 

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Daily Levels for March 20th, 2024

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Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
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Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

3b644da2 2bee 4d39 8d98 5208a20bec39

* 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.

Triple Witching Tomorrow + Futures trading Levels for March 15th

Posted on by Ilan
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Subscribe to our YouTube Channel

 

C26

 

TriPPPle witching tomorrow!

Stock Index March contracts (i.e., the E-mini and Micro S&P, Nasdaq, Dow Jones and Russell 2000.) expire Friday, March15th (8:30 A.M., Central Time). At that point, trading in these contracts halts. Stock index futures are CASH SETTLED contracts. If you hold any December futures contracts through 8:30 A.M., Central Time on Friday, Mar. 15th, they will be offset with the cash settlement price, as set by the exchange.

FRONT MONTH IS NOW JUNE , the symbol is M24, example for mini SP is ESM24

 Monday, March 18th is Last Trading Day for December currency futures. It is of the utmost importance for currency traders to exit all March futures contracts by Friday, March 15th and to start trading the June futures. Currency futures are DELIVERABLE contracts.

The month code for June is ‘M.’  Please consider carefully how you place orders when changing over.

 

 

Plan your trade and trade your plan

 

Watch video below on how to rollover from March to June contracts if you are a stock index trader on our E-Futures Platform!

 

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stars

e35cb555 9ff3 4f00 9fe8 0655b28fbd90

Daily Levels for March 15th, 2024

d69d3d2b f11a 4e36 a041 cab7eee5bea1

b0ba1776 c0cd 4536 92c1 eef6595d7173

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
312e053e 316d 43cd 8973 a7eb9de16fd2

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

3b644da2 2bee 4d39 8d98 5208a20bec39

* 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.

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.