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 Friday January 30, 2015
For 2015 I would like to wish all of you discipline and patience in your trading!
Few ways to enter a trade….
There are so many different aspects to trading.
From financial, emotional aspects to actual details of when to enter a trade, when to exit a trade and SO MUCH more in between…..
An important part of trading is trade entry. Assuming a trader knows why he/ she about to enter a trade the next step sounds simple right? Simply buy or sell the contract you wish to trade….
Many times it is that simple, depending on the time frame you are trading you may simply buy @ market and get the market price at that time. Some traders try to make small profits where every tick counts hence they may use the “buy bid” or “sell ask” button in order to get in at the best market price at that time. Many times you may save a tick by doing so but other times you may find yourself chasing the bid or the ask…
Another way is for a trader to decide that yes she wants to enter the specific market but she would like to get in at a price that is better and will use a limit order. Example may be, trader got the signal she was looking for to sell the mini SP 500 futures. The September contract was at 1982.75. Trader decided that she is willing to take the risk of not getting into the trade but she will only sell if the market hits her limit price of 1983.75 for example. There times that this patience will allow for a better entry price, hence better chances to meet target but there are times that trader will not get in and “miss a possible winning trade”