discount futures broker


Volume Based Trading Emini NQ & Support and Resistance Levels 1.14.2021

January 13th, 2021 Filed under Future Trading News | Comment (0)

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Dear Traders,

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Today I am sharing an example of using volume chart along with FIB levels when following intraday market action.
Market is NQ
Chart type is CVB = constant volume bar
5000 contracts traded complete one bar.
This model uses a theory that when it comes to short term day trading, volume is much more important than time, hence the use of volume bars. I use bars of between 1,000 to 18,000 contracts traded (pending the specific market, based on recent volatility, trade volume and a few other factors). That means that instead of bars completing based on time frame (i.e. 1 minute or 15 minutes etc.), we use volume instead of time. So each time X,000 contracts traded, a new bar will complete.  When the specific market has high volume and is moving fast, the bars will complete faster. When market is in low volume without much action, the bars will complete slower.
For me personally, this has helped getting signals ahead of time when there is fast action in the market and avoiding false signals when volume is low.
Needless to say volume charts on their own are no crystal ball and there is much more to trading but may help you take a look at your charts from a a diff. angle.
NQ Emini - Nasdaq Volume Base Chart

NQ Emini – Nasdaq Volume Base Chart, 5000 contracts 1.13.2021

To access a free trial to the ALGOS shown in the chart along with other tools, visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-14-2021

Futures Support & Resistance Levels 1.14.2021

Economic Reports, source: 

 www.BetterTrader.co

BetterTrader Futures Reports 1.14.21

 

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 Dow Jones Futures Chart and Support and Resistance Levels 12.30.2020

December 29th, 2020 Filed under Indices | Comment (0)

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

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Dear Traders,

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Two more trading days left in 2020!!
Thank you for choosing Cannon during this challenging year. We look forward to continuing to provide you with excellent service in 2021 and wish you a healthy, successful year ahead!
New Years Holiday Futures Trading Schedule 2020 CME GLOBEX
Weekly Dow Jones Cash Index with possible upside target as well as support level below. Keep in mind this is a WEEKLY chart.
Dow Jones Futures Emini MICRO Futures

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 when it comes to Futures Trading.

 

Futures Trading Levels

12-30-2020

Futures Support & Resistance Levels 12.30.2020

Economic Reports, source: 

 www.BetterTrader.co

BetterTrader Futures Reports

 

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.


Trading Insight: “Look Before You Leap” and Support & Resistance Levels 12.23.2020

December 22nd, 2020 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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Dear Traders,

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This was shared with me by a colleague of mine few years back and I can fully relate and wanted to share it with you as well:
“Look Before You Leap”
On the way to becoming (trying to become…) a successful Futures trader you will incur many losses.
That I can attest to.
One way to guarantee you will never be a successful trader is by taking “out sized” losses.
There was a time, in my 22 year career, that I would get an idea, in my head, that I had to be in a market, jump in and then look at where a proper stop loss would have to be placed and panic because the loss would be too great if the stop loss was reached.
So being the rookie that I was, I would place what was known as a “money’ stop, which is one that is based on how much money I was willing to risk rather one that was based on support or resistance.
Because this type of stop level was arbitrary I kept getting stopped out and then watching as the market turn around and go the way I thought it would.
Then it dawned on me. Look before you leap! So before jumping into the fray, look at where the stop goes first and if it is too far away you can just pass on it or place your “resting” or limit order closer to where a stop can be placed based chart support or resistance, not on “how much you want to lose”
Of course you can still get stopped out but at least you might have a better chance of keeping your losses smaller.

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 when it comes to Futures Trading.

 

Futures Trading Levels

12-23-2020

Economic Reports, source: 

 www.BetterTrader.co

 

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.


Gold Daily Chart For Review. Sympathy rally with Bitcoin? & Support and Resistance Levels 12.18.2020

December 17th, 2020 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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Dear Traders,

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Get Real Time updates and market alerts on Twitter!
Gold Daily Chart below. Sympathy rally with Bitcoin?
End of the year rally?
Need to see a close above 1900 to get a bit more excited about this one.
Time will tell.
Quick educational tips:
1. Look for high volume markets with a thin spread, so orders are filled quickly and it has high volatility, so there are opportunities for 2 to 4 good trades during the day. The Emini S&P500 Index Future is a good example of this type of market (Each point is worth $50, split into 4 ticks of $12.50 and there are 4 contracts a year, traded on the Chicago Mercantile Exchange).
2. Try to minimize risk to 1% of your capital per trade, then your capital can absorb 100 consecutive bad trades. Even the best systems can expect 20% -40% loosing trades, so the 1% rule gives you room to maneuver.
3. $10-$15k is the minimum recommended risk capital you should have per Emini S&P500 contract traded – then if you lose $1000-$1500 it only represents 10% of you capital, which is recoverable compared to a $3k account where the same loss equals 50% of your account, consequently you are more likely to lose the remainder of your capital rather than recover the loss. If you don’t have the higher risk capital, limit yourself to the MICROS – 1/10th the size.
4. Limit the hours you trade – the more you trade, the more exposed you are to human weaknesses, frustration and more. Just like an athlete you need to preserve your trading (playing) time….

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 when it comes to Futures Trading.

 

Futures Trading Levels

12-18-2020

Economic Reports, source: 

 www.BetterTrader.co

 

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.


3 Risks of Using a Discount Futures Broker

December 13th, 2013 Filed under Commodity Trading, Future Trading News, Future Trading Platform, Futures Broker, Futures Trading | Comments Off on 3 Risks of Using a Discount Futures Broker

With the advent of technology, the means to communicate clear objectives, or with any human, drives most people to ignore full-service futures brokers. Why? It is a spirit of independence. Computers have created a superhighway of trading, and accelerated the pace at which commodities, stocks, in short the financial market operates. These various methods have raised barriers between clients and full-service brokers, but given rise to- discount futures brokers. In reality, what the future of the financial markets beckons, is a direct and honest appraisal of the quick and easy model, versus the client and broker relationship. If the “Great Recession” taught us all anything, if you are not vigilant, or the means to track your investment, there is an inherent risk.

Knowledge vs. Education

Brain to Understanding is to hat on a head, both are useful, if absolutely used for maximum benefits to create larger profits to debt losses. Most experienced futures brokers understand the full scope of the financial market, and this long range vision gives insight into the behaviors of certain commodities. Conversely, when opting out of choosing a full-service futures broker, you are presented with limited tools, vision and insight.

Vision, in the entrepreneurial sense, is the act or power of anticipating what will come to be. If you are a newcomer, choosing discount futures brokers, may lead to a lack discernment or experience to sell or buy at appropriate times to gain the maximum profit, while minimizing the loss. This vital quality reigns supreme on experienced traders in the financial sector. However, the key to having a strong vision is insight.

Insight varies to vision, in that you see both near and far and eventually the end result of a business decision. Good judgment plays an integral part in evaluating leverage metrics, whether using gold as a hedge, or evident world events that will signal either a sharp decline or increase in the markets.

Overall, vision and insight, help with the learning curve in the futures market. In addition, being green in this market can cost you a great deal of time and money. Adding vision and insight to your expansive market toolbox can aid in shortening common investment mistakes, with the aid of the seasoned futures broker as your guide. Conversely, selecting a discount futures broker, they may not have the ability to reign in your decision making. Bad decisions – loss of profit. Consequently, bucking traditional wisdom, you could lose larger returns, and run into dangerous investment decisions.

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