Futures Day Trading Guide


Breakout Trading, Mean Reversion & Levels for Friday 2.19.2016

February 18th, 2016 Filed under Day Trading, Future Trading News, Futures Trading | 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 Wednesday February 17, 2016

Hello Traders,

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

Greetings!

Many different ways to make and lose money trading futures, even more so when day trading.

Today’s action in gold futures ( break out) led me to write about:

Three main approaches for trading, in my opinion.

The first is what I call the “trend is your friend”. A trader looks at few different time frames, looking to see if there is an established trend on longer time frame ( example 60 minutes chart) and then trying to look for pull back on lower time frames and “join the trend”. Only works for certain markets and only works few times of the month as most days markets do not have an intraday trend.

Second method is what we call break out. Traders will look for markets that have been in a lower volatility situation using indicators such as ADX for example. Then they will look at the chart to find what they feel are levels that if broken can fuel a stronger move in the same direction. These levels can be extracted visually looking at the chart or using highs/ lows of X periods. This method works better on some markets than others. I noticed that crude oil and gold futures tend to have better chances of a continued breakout move than the mini SP 500 for example.

The third one many traders use and believe in is “mean aversion”. Stock index futures in my opinion will fall into this category many trading days and today’s session ( July 24th 2014) was a good example. Market tested yesterday’s highs, then tested lows and traded in between. Traders will sometimes use RSI or Williams %R to get a feel for when the market gets away from the mean and will use counter trend methods in this case. Use of stops, when counter trend trading is even more important as you do NOT want to get caught on the few days a month when these markets do incur a break out situation…..

Obviously, all methods have good days, bad days and I guarantee you, none of these methods work all the time on all markets. Knowing the above and trying to understand what method should be the primary method for the market YOU trade and which can be used as secondary can help you while trading.

TRADE SMART / TRADE SYSTEMS — for the current rankings as well as actual performance of trading systems traded at Striker, click here.

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Different Type of Trading Days–Levels for 2.18.2016

February 17th, 2016 Filed under Day Trading, Future Trading News | Comment (0)

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Wednesday February 17, 2016

Hello Traders,

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

Greetings!

In the last few weeks we witnessed “volatile trading” with high volume and some wild swings. Much different than the quiet days we had about a year ago…. which encouraged me to share the following with you on the different types of trading days:

  • In my opinion there are 3 main types of trading days.

1. The most common day are two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought/oversold indicators.

2. Strong trending days, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend.

3. Slow and/or choppy trading days – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.

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Free Futures Educational Reads 2.10.2016

February 9th, 2016 Filed under Future Trading News, Futures Trading | Comment (0)

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Wednesday February 10, 2016

Hello Traders,

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


Spotting Clues Day Trading Futures 2.02.2016

February 1st, 2016 Filed under Day Trading, Future Trading News, Futures Trading | Comment (0)

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Tuesday February 2, 2016

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Getting Clues from other markets?

When day-trading a specific market do you only look at the chart for that specific market? maybe you took it a step further and you are viewing multiple time frame charts for the same market which is a good step in my eyes.

Now lets take this even one step further by observing what markets have correlation, direct or inverse to the market you are trading, perhaps this can help you make decisions when trading.

I will give a few examples from my experience:
When I am in a position in the mini SP 500, I will often observe what the bonds are doing ( many times inverse correlation), I will take notice of what the Dow, Russell and NASDAQ are doing as well ( direct correlation)

If I am trading crude oil, I will many times pay attention to what unleaded gas and heating oil are doing (very close, although not direct correlation) as well as what WTI crude is doing.

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Day Trading Tips and Tricks 1.20.2016

January 19th, 2016 Filed under Future Trading News | Comment (0)

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 Tuesday January 20, 2016

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Greetings!

Few pointers for you day-traders out there. I am sure you have heard some from different resources but never hurts to read and absorb this again:

1. Be patient
2. Limit the number of hours you trade
3. Know your DAILY risk before the day begins and this will dictate
the number of contracts you trade
4. Choose markets with high liquidity
5. Know what reports come out every day and their impact on the markets.
6. Understand that even the best methods will have losing days.
7. Learn to accept loses
8. Use RISK CAPITAL only
9. Don’t try to trade and do other things
10. Educate yourself
11. Keep a trading journal

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