Futures Trading Daily Support

What type of trading day am I facing? 5.25.2016

May 24th, 2016 Filed under 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 May 25, 2016

Hello Traders,

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

Voted #1 futures trading blog!

Strong trend day today on both indices going up and gold going down, prompts me to share a piece I have shared in the past about recognizing the different type of trading days (both markets above experienced type 2 trading day today):

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 using support and resistance levels along with overbought /oversold indicators.
2. Strong trending day, 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 day – 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. Many times, no trading is better than bad trading during these type of trading days….

Good question is how can one asses what type of trading day we will have while the market is still trading….I am doing some work about it and will be happy to hear feedback via email but here are some initial observations:
1. Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session ( primary session is when the cash/ stock market is open)
2. Mondays have the highest chance for trending days
3. The behavior of the first hour of trading can also suggests the type of action for the rest of the day.
4. If the first 30 minutes have good volume, better chances for type 1 or type 2 trading days.
5. low volume during first 30 minutes can suggest a choppy (type 3 trading day)

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Trading Levels for Tuesday, May 24th

May 23rd, 2016 Filed under Future Trading News, Futures Trading | 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!

Quiet day to start the week ahead of memorial Day Weekend coming up.

More choppy action then any trend or breakout trades to be honest and volume seems to be lighter.

A couple of trading systems we offer on auto trading have been doing well recently and you can see latest trades and statistics here.

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Futures Trading Blood Type 5.20.2016

May 19th, 2016 Filed under Future Trading News, futures trading education, Trading Guide | 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!

No words of wisdom today…..

Instead, good reading material at:

What’s Your Trading Blood Type?

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FOMC Minutes Produce Fireworks 5.19.2016

May 18th, 2016 Filed under Future Trading News, Futures Trading | 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!

FOMC minutes produced quite a bit of fireworks in bonds, metals and stock indices!

One must know when certain reports come out, do homework as to prior experience/ market behavior ( look at your trading journal? notes?) and be ready.

I looked at prior FOMC and the related FOMC minutes for 2 markets I was trading today, gold and bonds in an attempt to make an educated speculation….today it worked, there are many days it doesn’t but at least i did my homework and stuck to my game plan.

Plan your trade, trade your plan!

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Backtest, Forward Test, Live Trading – iSystems 5.18.2016

May 17th, 2016 Filed under Future Trading News, Futures Trading | Comment (0)

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

Hello Traders,

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

Voted #1 futures trading blog!

Backtest, Forward Test, Live Trading

Eureka! You’ve just found the holy grail of market indicators. The indicator of indicators which over the past few days has perfectly called each 30 minute top and low in the e-mini S&P futures… Now what? Time to put some real money on the thing and retire to the islands…. Not so fast!

Your strategy may be looking good over the past few days, or even months or years. But to really get comfortable with it, wouldn’t you rather know how it has done over many, many years. And once you’ve done that, wouldn’t you rather see it work for a period of time on the current market before putting real money to work.

If you answered yes to either of those, welcome to the world of trading systems – because backtesting and forward testing are two of the biggest advantages of trading systems. The ability to see what would have happened, and what is happening – BEFORE putting real money to work. And then, the kicker… tracking your live account versus the trading system to see how you’re doing with that live money once you’re ready to take that next step.

Backtesting

Becktesting is just what it sounds like. Observing how a system would have performed going ‘back’ in the past, using historical prices to see when a system would have gotten in and gotten out, bought and sold, been stopped out, and so forth. By running the system backwards in time, an investor can compile all the different trades and calculate how much the system would have made and lost month by month, year by year – and from there calculate the statistics such as annual return and maximum drawdown and volatility and so forth we all use to gauge a model’s abilities. On the iSystems platform, every model, every model is backtested as far back as possible, ranging from 2001 to 2007, and shows in the equity curve graph and monthly perf table with a white background.

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