day trading

Day Trading 101: Tight Stops? Wide Stops? Which One Should I Use? 10.13.2017

October 12th, 2017 Filed under Future Trading News | Comment (0)

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Dear Traders,

Day Trading 101: Tight Stops? Wide Stops? Which One Should I Use?

Entry signals are very important but just as important if not more is trade management.
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP

This article was published on FinanceMagnates.com back in April but is definitely a timeless article.

Today I decided to touch more on an educational feature rather than provide a certain market outlook. Many of my clients and blog readers know that when it comes to short term trading I am a fan of adjusting your trading technique/ game plan according to your assessment of the type of trading day that is developing in front of you.

Many new and advanced traders spend HOURS on looking for entry signals. Back testing historical data, creating algorithms to use and much more. I know. I am one of these traders.

Trade management consists of many factors. Some are psychological and some are more mathematical and many are in between. Some of the basic elements of trade management before even entering the trade are: What will my stop loss be**? will I use a stop loss**? What will my target be? will I use a target or just trail the trade if it goes my way?

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Life after mini SP 500…..Other markets for daytrading 3.21.2017

March 20th, 2017 Filed under Future Trading News | Comment (0)

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

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With stock index futures trading at historical LOW volatility, I thought this would be a good time to share something I wrote last year about “other markets to day trade other than the mini SP…..”

Each market has a different personality, different behavior along with different times of the day when it is most active. If you are finding that the ES (mini SP) is not giving you enough risk/opportunities then start monitoring a couple of other markets and perhaps explore them in demo / simulated mode.

I think that there are more than a few markets that are suitable for day-trading. Below you will find some observations, tips along with what are unique about these markets, personality and most active trading hours.

Interest rates Futures:

In most platforms, the symbols are ZB for 30 year bonds and ZN for 10 year notes.

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Day Trading Mind Traps 9.08.2016

September 7th, 2016 Filed under Day Trading, Future Trading News | Comment (0)

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday September 8, 2016

Hello Traders,

Greetings!

Didn’t have anything of added value to share today so instead I am sharing a timeless article we published a couple of years ago about Day Trading Mind Traps!

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Take Profits or Wait for Home Run? 8.16.2016

August 15th, 2016 Filed under Future Trading News, Futures Trading | Comment (0)

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Hello Traders,

Greetings!

Do I hold on for the “big winner” or take small profits?

To start with, this is a good problem…this means you are taking some winning trades. The answer is not a simple yes or no.

One must have a combination of both smaller, consistent winners. Also a few “runners” large profit trades, regardless if you are day trading, position trading or swing trading.

Some traders solve the problem by breaking their trading size into more than just 1 unit.

Entering Multiple Contracts: Philosophy

I think that entering multiple contracts does 3 good things for you…

Reduces fear…

Reduces greed…

And gives you a chance to hang in there for the large winners or what I call a “runner”….

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Day Trading Crude Oil Futures 6.08.2016

June 7th, 2016 Filed under Crude Oil, Day Trading, Future Trading News | Comment (0)

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Hello Traders,

For 2016 I would like to wish all of you discipline and patience in your trading!

Voted #1 futures trading blog!

Crude Oil numbers tomorrow morning. As of lately it has been one of the more followed reports by all markets…..

I wrote this piece about day trading crude oil futures a couple of years ago and it is still very valid in my opinion:

Trading 102: Day Trading Using fear and greed ( using Crude Oil futures as an example)

Crude Oil Futures volatility offers a “different market personality” than stock index futures. Here is some of the things you need to know about day trading crude oil futures:

By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP

Crude Oil is one of MY favorite futures markets for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.

Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when the first notice day and last trading day for crude oil futures are, in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into a delivery situation.

Next is the contract size. Crude Oil futures are based on 1000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.

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