Insights from a Day Trader 2.27.2018
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Trading 102: Insights from a Day Trader on preparing for the trading day, mental notes and much more – Written by a current, active day-trader
The following was shared with me by a client of ours, an international trader, who has been trading with us for a few years now. I was VERY IMPRESSED with the content and the thoughts behind this so I asked his permission to share this with our readers and he agreed. The content was originally written in another language and the translation below is intended to try and preserve some of the authenticity of the writing….
Focusing for the Trading Day
- I believe that you can earn and make a living from intraday trading on futures contracts. It is very difficult but achievable.
- Responsibility – I am absolutely responsible for being an intraday trader in general and for my trading activities in particular. This responsibility is comprehensive, expansive (also subjects that are not directly responsible for me – they are my responsibility !!!) and can not be divided.
- My trading plan is orderly and has a positive financial profit expectancy. I believe in her.
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.
Futures Trading Levels
2-27-2018
| Contract March 2018 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | BitCoin Index |
| Resistance 3 | 2834.58 | 7135.67 | 26273 | 1584.30 | 11698.33 |
| Resistance 2 | 2808.42 | 7065.83 | 25997 | 1572.90 | 11021.67 |
| Resistance 1 | 2794.83 | 7029.67 | 25853 | 1566.10 | 10623.33 |
| Pivot | 2768.67 | 6959.83 | 25577 | 1554.70 | 9946.67 |
| Support 1 | 2755.08 | 6923.67 | 25433 | 1547.90 | 9548.33 |
| Support 2 | 2728.92 | 6853.83 | 25157 | 1536.50 | 8871.67 |
| Support 3 | 2715.33 | 6817.67 | 25013 | 1529.70 | 8473.33 |
| Contract | Apr. Gold | Mar. Silver | Apr. Crude Oil | Mar. Bonds | Mar. Euro |
| Resistance 3 | 1357.5 | 17.09 | 65.65 | 144 7/32 | 1.2446 |
| Resistance 2 | 1350.2 | 16.94 | 64.94 | 144 | 1.2409 |
| Resistance 1 | 1342.6 | 16.80 | 64.47 | 143 18/32 | 1.2369 |
| Pivot | 1335.3 | 16.65 | 63.76 | 143 11/32 | 1.2332 |
| Support 1 | 1327.7 | 16.52 | 63.29 | 142 29/32 | 1.2292 |
| Support 2 | 1320.4 | 16.37 | 62.58 | 142 22/32 | 1.2255 |
| Support 3 | 1312.8 | 16.23 | 62.11 | 142 8/32 | 1.2215 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | Apr. Nat Gas |
| Resistance 3 | 372.0 | 485.1 | 1068.83 | 389.97 | 2.81 |
| Resistance 2 | 371.0 | 480.9 | 1064.17 | 387.83 | 2.77 |
| Resistance 1 | 369.8 | 476.8 | 1055.08 | 384.07 | 2.73 |
| Pivot | 368.8 | 472.7 | 1050.42 | 381.93 | 2.68 |
| Support 1 | 367.5 | 468.6 | 1041.3 | 378.2 | 2.6 |
| Support 2 | 366.5 | 464.4 | 1036.67 | 376.03 | 2.60 |
| Support 3 | 365.3 | 460.3 | 1027.58 | 372.27 | 2.56 |
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.
