Weekly Newsletter #1052 Learning to Lose, Gold Chart Analysis & Futures Levels for the Week Ahead

May 21st, 2021 Filed under Future Trading News, Metal Futures, Weekly Newsletter | Comment (0)

Cannon Futures Weekly Newsletter Issue # 1052

Dear Traders,

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Trading 102: Learn to Lose

Important NOTE: With The Recent Volatility Across Markets, We Have Seen Margins Increase In Some Markets As Well As Wild Swings And Extreme Volatility In Many Markets. For Some, It Can Cost The Full Account Value But Doesn’t Need To. These Volatile Times Require MAJOR Adjustments In How You Approach Trading And Risk Management. I Hope This Article Helps And I Encourage You To Utilize Our Brokers And The Knowledge They Have To Assist You.. Contact Us

Many different factors go into trading. Too many to discuss efficiently in one blog post. Some relate to trading techniques, other to money management, mental aspect, risk capital and much more.

But one that sticks in my eyes is the inability to accept a loss. I see many clients who can make money and have days where they make money but when they lose, they lose much more, sometimes even losing control and losing a big portion of their account.

I am not sure how a trader can embed this into their trading mind, BUT in my opinion if you train your brain to expect losses, understand losses and that losing days will happen, you will increase your chances of surviving in this business, which in return will actually give you a chance to succeed….

Losses are part of trading and as long as your losses are part of the plan and are quantified in advance and you can adhere to your rules, then you have a chance. I think it’s easy when traders are winning…making money etc. Much harder when you lose or down. your brain starts playing tricks on you…it tells you to double down, maybe reverse even though your analysis does not say so….all of a sudden you start pulling trades out of instinct, fear rather than a calculated plan that has solid risk/ reward. If a trader learns how to lose, to accept losses, to have realistic expectations, then he/ she can avoid having one of those terrible days when traders can lose almost of all their account.

I went into this subject and detailed day-trading money mgmt in an article I wrote a few years back for SFO magazine.

Click here to read the rest of the Article

Market Pick Review for the Week:

Gold Weekly Chart below for your review. Click for larger image.

Gold has benefited from inflationary pressures as well as downside volatility in Bitcoin and crypto currencies. Safe heaven helped the yellow metal complete a nice weekly bar. A daily close above 1888 can trigger another leg up towards 1939. First support at 1838.

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

5-24-2021

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

Gold weekly chart +Support & Resistance Levels 6.21.2018

June 20th, 2018 Filed under Commodity Brokers, Commodity Trading, Day Trading, Future Trading Platform, Futures Broker, Gold Futures, Metal Futures | Comment (0)

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

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Dear Traders,

https://twitter.com/CannonTrading

Gold WEEKLY chart for your review below.

This Sunday night I got the first weekly sell signal since the end of 2017. You can see the little red arrow along with the current bar marked in red. Just because a signal happened, does not mean we will see a sell off but for me personally it is a good probability that the pressure is stronger to the downside. I like some of the option plays one can do using vertical put spreads.

The chart above includes some proprietary studies/ALGOS.

These ALGOS along with a 15 minutes one on one session is available for a free trial.

To sign up and more info visit: https://www.cannontrading.com/tools/intraday-futures-trading-signals

Good Trading

Futures Trading Levels

06-21-2018

Contract September 2018	SP500 #ES_F	Nasdaq100 #NQ_F	Dow Jones #YM_F	Mini Russell #RTY_F	BitCoin Index #XBT_F
Resistance 3	2801.25	7461.33	25029	1737.83	7109.66
Resistance 2	2789.75	7398.92	24944	1725.87	6961.28
Resistance 1	2780.25	7351.58	24803	1718.83	6857.81
Pivot	2768.75	7289.17	24718	1706.87	6709.43
Support 1	2759.25	7241.83	24577	1699.83	6605.96
Support 2	2747.75	7179.42	24492	1687.87	6457.58
Support 3	2738.25	7132.08	24351	1680.83	6354.11

Contract	August Gold #GC_F	July Silver #SI-F	Aug. Crude Oil #CL-F	Sept. Bonds #ZB_F	Sept. Euro #6E_F
Resistance 3	1284.9	16.48	67.89	144 27/32	1.1749
Resistance 2	1281.7	16.43	67.12	144 19/32	1.1713
Resistance 1	1276.7	16.36	66.33	143 31/32	1.1685
Pivot	1273.5	16.31	65.56	143 23/32	1.1649
Support 1	1268.5	16.24	64.77	143 3/32	1.1622
Support 2	1265.3	16.19	64.00	142 27/32	1.1586
Support 3	1260.3	16.12	63.21	142 7/32	1.1558

Contract	July Corn #ZC_F	July Wheat #ZW_F	July Beans #ZS_F	July SoyMeal #ZM_F	July Nat Gas #NG_F
Resistance 3	367.0	509.2	917.00	348.10	3.04
Resistance 2	361.8	499.6	906.50	343.00	3.01
Resistance 1	358.0	493.9	898.00	338.10	2.98
Pivot	352.8	484.3	887.50	333.00	2.95
Support 1	349.0	478.7	879.0	328.1	2.9
Support 2	343.8	469.1	868.50	323.00	2.89
Support 3	340.0	463.4	860.00	318.10	2.87

Economic Reports, source:

http://app.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 is Sitting on Decision Junction 1.20.2017

January 19th, 2017 Filed under Future Trading News, Futures Trading | Comment (0)

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* Volatility in many markets has been extremely low!! Stock index futures especially. I really don’t have an explanation…bit odd but as I mentioned over this blog many times before, it is a cycle. Neither low volatility, nor high volatility can last for ever. It is like a compressed spring that eventually has to expand….So be ready when volatility changes and the trading environment changes accordingly.

** Chart of gold futures below for your review. Gold is sitting on a decision point. It bounced very nicely off the lows made back on Dec. 15th and backed off resistance at 1218. The longer term trend is down, however the immediate trend is up….Should provide for some interesting price action!

Would you like a free trial for the trading software used to create this chart above?
If so visit us and get started with MarketDelta free demo.

** Please vote! the competition ends January 31st and you can vote every day, even if you voted before.

Cannon Trading at 2016 Star Awards by Trader Planet

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. Read the rest of this entry »

Big Moves in Gold Futures!

October 4th, 2016 Filed under Future Trading News | 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 October 5, 2016

Greetings!

BIG move on gold today…..Along with some intraday volatility in stock indices and treasury markets.
Daily chart of gold for your review:

Gold Futures Chart

Read the rest of this entry »

Weekly Continuation Gold Chart 3.11.2016

March 10th, 2016 Filed under Future Trading News | 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!

Greetings!

FRONT MONTH for STOCK INDEX is JUNE!! ECB rate early this morning sent waves of volatility into bonds, gold, stock index futures and other markets.
A bit too wild for my taste to be honest but part of trading.

Some traders prefer not to trade on FOMC or ECB days. Some just stay out during the announcement. On the other hand there some who can’t wait for the big reports as their trading stile demands volatility….. Everyone is different and just knowing the reports and how you fare during can help you decide on the trading or not trading.

In between I am sharing with you recent analysis I did on gold futures for Equities.com:

https://www.equities.com/news/are-gold-futures-still-safe-haven-material