Discount Trading


Weekly Newsletter 1080: 5 Big Mistakes Beginners Should Avoid Making & Futures Support and Resistance Levels for the Week ahead

December 31st, 2021 Filed under Future Trading News, Weekly Newsletter | Comment (0)

Cannon Futures Weekly Letter Issue # 1080

Dear Traders,

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Here are some great reminders to start the trading year of 2022.

Trading 101: 5 Big Mistakes Beginners Should Avoid Making

Trading Futures Is A Tough Business, But If You Are One Of The Very Few That Can Succeed, This Could Be A Lucrative Business As Well
Ilan Levy-Mayer |SmallCapPower I have seen quite a bit since I became a broker in 1998. Some war stories to share about the markets, some crazy moves and much more in between. I was trading futures with clients on the sad Sept. 11th 2001 day when the planes hit and the markets were plunging before they were closed for almost a week. I witnessed the meat contracts making limit up and limit down moves over the years and much more…..
As a commodity broker I have observed MANY traders, many of them were new traders, and this allows me to share with you some valuable observations I hope will help you start your futures trading journey on a much smoother road than most.
Here are the FIVE CRUICIAL MISTAKES you need to avoid!
Don’t wait… sign up NOW!
WorldCup Trading Championships 2022

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

01.03.2022

 

Weekly Levels

 

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

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


How Should We as Traders Confront Risk? & Support and Resistance Levels 10.19.2021

October 18th, 2021 Filed under Future Trading News | Comment (0)

Dear Traders,

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RISK

It is a four letter word. As traders it is something that we thrive on and dread. We chase and fear. We look for and look to avoid. It is RISK. Without it, there is no opportunity for profit. Without it trading lacks potential. With it, failure and heartache are the consequences when it is abused.
  Risk itself is not a bad thing. When it is misused by traders, it becomes a problem. Controlled risk presents traders with exciting and profitable opportunities. Uncontrolled, it brings the end to the dreams and careers of many traders.
  How should we as traders confront risk? The first step is to respect it. Realize the damage it can do to our account equities when it is abused. The two most important tools that we have to control risk are stops and position size. Oh, I know, you hate stops. We all do. We have all been stopped out at the high or low only to see the market immediately move in the direction that we thought it would. But without using stops on every trade that we enter, disaster will eventually prevail. I have a love/hate relationship with my stop orders. I hate to place them, but love how they save me from large, unacceptable account crushing losses. It is the same for all successful traders. Those foolish enough to trade without stop protection are risking disaster on every trade. Unless you as a trader have developed perfect discipline to exit a losing trade quickly, and according to your pre-entry criteria, stops are mandatory. And admit it, at least to yourself…..do you have perfect discipline? I think not.
  The other critical element in controlling risk is position size. By this I mean the percentage of your equity that you are risking per trade. I do not risk more than 3.5% of my equity on any trade. Some traders are comfortable risking 5% of their equity. This amount for me is an amount of risk with which I am comfortable. It allows for aggressive trading, and it allows me to stay in the game ( financially and psychologically) even after a series of losses. This aspect of strategy building is often forgotten by the novice trader. These folks have dreams of “the big hit” or the monster trade that allows their account equity to soar to heights unimagined by mere mortals. The problem is, oops, what if you are wrong? This type of trading/thinking is out of control. It leads to broken dreams and short careers. You must always remember that this is a highly volatile, sophisticated business. Treat it as such. If you want to gamble, jump on an airplane and visit Las Vegas.
  The futures markets are highly leveraged, as we all know. Those traders that abuse risk by not respecting its power will eventually join the long list of former futures traders. Risk must be treated like a beautiful, intelligent woman. Treated with respect, wonderful things can happen. But, abuse it, or disrespect it, and suffer the consequences.
  As a futures trader you have to embrace taking risk. Understand its impact. Respect it. Stay in control of it. Develop a trading method that makes risk an asset to your account instead of an enemy of your account. Risk/reward analysis is an important part of our everyday lives. Can I make it thru the intersection before the light turns red? Do I need to re-apply my sunscreen? Should I have one more beer before driving home? In trading, always keep in mind your risk versus the reward. A 50% gain in your account is not equal to a 50% loss of equity. A 50% winning trade puts you up by one half. But a 50% loss means that you have to double your equity to get back to your starting point. Respect your risk levels. Trade only using a risk level that you, personally, are comfortable with.
  Rome wasn’t built in a day. Neither will your account be built in a day, or a week. Respect risk. Enjoy it’s benefits and your trading in rest of this year and in 2011 will produce profits and satisfaction. Enjoy the ride.
IMPORTANT PLEASE NOTE: TRADING COMMODITY FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS. THE RECOMMENDATIONS CONTAINED IN THE LETTER IS OF OPINION AND DOES NOT GUARANTEE ANY PROFITS. THERE IS NOT AN ACTUAL ACCOUNT TRADING THESE RECOMMENDATIONS.  THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED. PAST PERFORMANCES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

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

10-19-2020

 


Economic Reports, source: 

https://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.


COVID and How it’s Affect the Futures Markets, Crude Oil Futures Chart & Support and Resistance Levels 1.06.2021

January 5th, 2021 Filed under Crude Oil | Comment (0)

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Dear Traders,

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Light at the End of the Tunnel?
by Mark O’Brien, Senior Broker:
As we transition into 2021, the overriding impact on the global economy and commodity prices remains the world-wide pandemic. Rising post-holiday infection figures in the U.S. from California to Rhode Island, in Europe, particularly the U.K., a return of the virus in China, and a newly discovered more contagious variant are all pointing to seeing January as the worst month in this now year-long scourge. Yet, a wide range of markets have been steadfast over the last 3-4 months in their ability to look past this crisis and price in demand improvement. Grains, metals, energies, gasoline, softs all have staged heady rallies. Soybeans are at 6-year highs. Crude oil traded through $50/barrel today, platinum trading above $1,100/ounce breached 4-year highs. Likely, as new and existing vaccines are made available and administered, as the holiday infection surge passes and hospital capacities come down, as we move toward the herd immunity that health officials have explained, the markets will take stock of the light at the end of the tunnel and assess these gains. Likely as well, overall price volatility across most if not all commodity asset classes will remain for the new year.
Crude Oil broke above $50 for the first time in almost a year on OPEC meeting. Daily chart below.
Crude Oil Futures Daily Chart

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

1-06-2021

Futures Support and Resistance Levels 1.06.2021

Economic Reports, source: 

 www.BetterTrader.co

Better Trader Futures Reports 1.06.2021

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 #1031: Knowing What You Don’t Know in Trading Markets, Copper Futures Daily Chart & Futures Levels 12.07.2020

December 4th, 2020 Filed under Weekly Newsletter | Comment (0)

Cannon Futures Weekly Letter Issue # 1031

Dear Traders,

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Get Real Time updates and market alerts on Twitter!
Trading 101: Knowing What You Don’t Know in Trading Markets
From our friend Jim Wyckoff at JimWyckoff.com
The headline of this educational feature may be a bit confusing, but I will explain what I mean shortly. First, I want to reiterate that trading futures, stock and FOREX markets is not an easy undertaking. It disgusts me that there are a few unsavory people in our industry that portray trading as an easy, get-rich-quick scheme, or as some endeavor for which there are “secrets” to be learned from those who hold “trading secrets.”
Folks, the plain truth is that there are no trading secrets and no easy paths to quick success in trading markets. Beware of anyone who tries to tell (or sell) you such. One of the biggest obstacles to success in trading markets is a lack of knowledge and understanding of the process of trading. The “process of trading” includes understanding financial leverage, market behavior and trader psychology. Understanding the process of trading can be achieved with perseverance and a willingness to continue to learn.
It’s not coincidental that trading markets is similar to most other human endeavors: Hard work and experience are required to achieve notable success. A person who enjoys classic automobiles would not attempt to tear down and successfully rebuild an engine without having some previous experience, or without having learned about the workings of an automobile engine—including knowing about the tools involved in the operation
Click here to Read the rest of the article
Dr. Copper
Copper and copper futures have a special place in the commodity futures universe. As one of the most important industrial and building materials in the world, copper’s market price is seen as an important fundamental economic indicator for not only the health of the U.S. economy, but also for the robustness of the world’s economy as a whole. In fact, because of copper’s generally accepted importance as an economic indicator in predicting and reflecting over-all economic health, it is ascribed to be the only commodity with a doctorate degree in the field of economics, hence the title, “Dr. Copper”. Cannon Trading’s brokers affectionately call out the words “Dr. Copper” when referring to copper’s present price and market movements, amongst themselves, in a cheerful genuflecting to the respect we believe this commodity and futures contract deserves. Copper’s recent market trading range /trend can be observed in the daily chart below.
Copper Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $4620 initial, $4200Maint. ( as of the date of this newsletter)
Point Value: full Cent = $12.50( Example: $5.60 to $5.61/bu ). Min fluctuation is 2/8ths of a cent = $12.50 ( Example: 5.60 -5.602)
Settlement: Deliverable, FND is last business day preceding the contract month
Months: March (H), May (K), July (N), September (U,) December(Z)
Weekly Options: NO
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

12-07-2020

 

Weekly Levels

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

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 herein 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 judgment in trading

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