Futures Trading Levels & Economic Reports for November 15, 2013

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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 Friday November 15, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

Learn to lose….

 

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 ability to take 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 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 management in an article I wrote a few years back for SFO magazine.

 

You can read the full article at:  https://www.cannontrading.com/community/newsletter/Survivor-Day-Trading-Different-Day-Trading-Money-Management-Modified-Hours-E-Minis#two

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.

If you like this Newsletter, feel free to forward to a friend!

 

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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.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels

Contract Dec. 2013  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1803.67 3452.58 15962 1126.13 81.68
Resistance 2 1796.33 3434.17 15907 1119.97 81.48
Resistance 1 1791.92 3423.58 15874 1114.83 81.27
Pivot 1784.58 3405.17 15819 1108.67 81.06
Support 1 1780.17 3394.58 15786 1103.53 80.85
Support 2 1772.83 3376.17 15731 1097.37 80.65
Support 3 1768.42 3365.58 15698 1092.23 80.44
Contract Dec. Gold Dec. Silver Dec. Crude Oil Dec. Bonds  Dec. Euro
Resistance 3 1311.3 2123.8 96.58 133 30/32 1.3572
Resistance 2 1302.5 2106.2 95.51 133 15/32 1.3534
Resistance 1 1294.8 2092.3 94.66 133 1.3496
Pivot 1286.0 2074.7 93.59 132 17/32 1.3458
Support 1 1278.3 2060.8 92.74 132  2/32 1.3420
Support 2 1269.5 2043.2 91.67 131 19/32 1.3382
Support 3 1261.8 2029.3 90.82 131  4/32 1.3344
Contract Dec Corn March Wheat Jan .Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 433.3 664.0 1329.00 432.50 41.80
Resistance 2 431.7 662.3 1324.50 429.20 41.62
Resistance 1 429.1 658.8 1319.00 426.90 41.29
Pivot 427.4 657.0 1314.50 423.60 41.11
Support 1 424.8 653.5 1309.0 421.3 40.8
Support 2 423.2 651.8 1304.50 418.00 40.60
Support 3 420.6 648.3 1299.00 415.70 40.27
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

 

Date 3:58pm Currency Impact Detail Actual Forecast Previous Graph
FriNov 15  4:00am EUR Italian Trade Balance 1.63B 0.96B
5:00am EUR CPI y/y 0.7% 0.7%
EUR Core CPI y/y 0.8% 1.0%
All Day EUR ECOFIN Meetings
8:30am USD Empire State Manufacturing Index 5.2 1.5
USD Import Prices m/m -0.4% 0.2%
9:15am USD Capacity Utilization Rate 78.3% 78.3%
USD Industrial Production m/m 0.1% 0.6%
10:00am USD Wholesale Inventories m/m 0.5% 0.5%

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.

 

Tags: > Posted in: Commodity Trading   | Future Trading News   | Futures Trading  

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