Futures Trading Levels & Economic Reports for November 15, 2013
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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.
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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.
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| 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 |
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.
