Futures Trading Levels and Economic Reports for February 9, 2011

Trading is SO MUCH MENTAL once you have a concept you believe in, have confidence in. After that there is a lot of psychological work….

Some examples:

1. Ability to take losses and know not every trade will be a winner and not every day will be a winner

2. Ability to stay patient and NOT feel that if you are NOT trading, you are NOT doing your job….

3. The confidence to stay in winning trades and the discipline to get out of losing trades

4. Allowing trades some time to work

5. Not getting down on yourself for “could have should have etc”

6. Understandings that sometimes, you can do everything right and still have a losing trade. It is simply part of trading.

7. Being a hard worker and keeping a journal after certain trading days. Being  a hard worker in putting time and effort learning new approaches, set ups before deciding if its worthy or not. I WILL SAVE THIS LITTLE LIST AND ADD TO IT AS DAYS PROGRESS.

GOOD TRADING!

TRADING LEVELS!

Economics Report Source: http://www.forexfactory.com/calendar.php

Wednesday, February 9, 2011

Fed Chairman Bernanke Testifies
10:00am USD

Crude Oil Inventories
10:30am USD

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Company, 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!