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Futures Trading Levels, Types of Trading Days

March 30th, 2011 Filed under Commodity Trading, Future Trading News, Futures Trading | Comment (0)

Cannon Trading / E-Futures.com

The following is taken from a guide I have written that helps subscribers to my daily chart service. You can have a 2 week free trial to the daily live charts service along with buy/sell triggers and get the full guide along with chart examples, rules and much more by signing up at:

Cannon Trading Inc. Day Trading Webinar

General Notes:
At any given day, one must understand the trading environment that specific day has to offer and adjust their trading style accordingly. In our case it relates more to the size of stops and target based on volatility. Some days the market gives us many opportunities; some not as much; and some days it provides us with mostly risks…….take what the market gives you and not what you want it to give…..

I think if a trader understands early enough what type of trading day it is, he or she can choose which tools from the webinar are most suited for that days trading. If one can do that successfully (which is not easy), I think that is half the battle.

Not taking a trade is better than a bad trade.

My opinion is that there are 3 main types of trading days.

  1. Most common is two sided trading action with swings up and down – this type of trading day is most suitable for the main aspect of this model, which is taking trades based on the arrows.
  2. Strong trending day, mostly one directional – this type of trading day is the least common, many times this will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using the color scheme I have on the charts. Green bars mean strong up trend, red bars mean strong down trend. If you determined that this is a trend day, then use pull backs to enter with the direction of trend and use the parabolic (little dashes) as you trailing stop.
  3. Slow and/ or choppy trading day – this type of trading day is best suited for taking small profits from the market by either using the main model or taking the diamonds as entry signal, and going for quick profits and tight stops.

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Futures Trading Levels and Economic Reports for December 7th 2010

December 7th, 2010 Filed under Future Trading News, Futures Broker, Futures Exchange | Comments Off on Futures Trading Levels and Economic Reports for December 7th 2010

Today was a “slow trading day” when it came to stock indices, which leads me to a good point I would like to make. Most of our day traders, trade the e-mini stock index futures, mostly the mini SP because of its heavy daily volume and exposure.

However, I think that day-traders should be able to follow at least another market, maybe even two additional markets and look for different set up in these markets as well.

Good example from today is the Euro currency. While the mini SP was pretty dead….the Euro had nice range, good volatility and good volume which presents both risks and opportunities for day-traders.

Obviously, before you start trading a new market you should educate yourself on tick size, trading hours, “personality”, when is there more volume in that specific contract etc.

If you do so, I think you will achieve a couple of things, first is diversification. While some days trades in certain market may not work, trades in a different market may provide balance.

Also, if on certain days, certain markets are “sleepy” ( which most day-traders do NOT like), another market may have more action….

As always, do your homework, practice in simulation mode first and make sure you understand the “new contract” you may be trading along with the risks involved.

Below is a screen shot of the Euro Currency from todays webinar session :
( free trial at – https://www.cannontrading.com/tools/intraday-futures-trading-signals )

SP-500-Day-Trading-2010-12-07 Read the rest of this entry »


Futures and Commodity Trading Levels for October 26th, 2010

October 25th, 2010 Filed under Commodity Brokers, Commodity Trading, Financial Futures, Future Trading News, Futures Broker, Futures Exchange | Comment (0)

Weekly chart of the mini Russell 2000 for your review below.

SP-500-Day-Trading-2010-10-26

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Weekly Futures Trading Newsletter and Daily Levels for October 21st 2010

October 20th, 2010 Filed under Future Trading News, Futures Trading | Comment (0)

Our Weekly Newsletter is Now Available for Your Review at:
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https://www.cannontrading.com/community/newsletter/
************************************************************************* Read the rest of this entry »


Quadruple Witching to Provide S&P 500 with Clues, September 17th 2010

September 16th, 2010 Filed under Day Trading Webinar, Futures Broker, Futures Exchange | Comment (0)

Same comments from yesterday and the day before still hold true….main difference is the tomorrow is quadruple witching day so I am hopeful that we finally break out one way or the other……

Well by now this is the 3rd or 4th time we are knocking on 1122.75…..that means one out of two (in my opinion): Tomorrow morning reports help this market break this level and start another leg up towards 1157.00

OR…..

Market fails one more time against this level, fills the gap below ( 1105.75) before giving us some additional clues.
I would love to have the “correct answer” to give you but only time and price action will tell….

SP 500 Day Trading

SP 500 Day Trading

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