Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Which Market Should I be (day) Trading?
1. Know and follow more than one market. I think one should have familiarity and follow about 5 different markets ( or more depending account size and time) in general.
2. Understand what type of market conditions you trade better in? Volatile? “dead”, choppy or perhaps trending?
3. Have a view of these markets from longer term outlook and behavior.
4. Trade the markets that fit your strengths.
Example: If I am following gold, crude, bonds, mini nasdaq and mini SP for educational purposes….If I know that I trade better in markets that have larger intraday swings and volatility than lets say trending markets or “quiet markets” I would be focusing on the mini NASDAQ as my primary market now days as it is the one fitting my profile the best.
If “choppy” markets suits my trading style better, I would probably look at gold as of recently.
This will change as markets go through different cycles, from lower volatility to higher volatility. Trending to choppy etc.
Etc. etc. etc.
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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
|Contract June 2018||SP500 #ES_F||Nasdaq100 #NQ_F||Dow Jones #YM_F||Mini Russell #RTY_F||BitCoin Index #XBT_F|
|Contract||June Gold #GC_F||July Silver #SI-F||July Crude Oil #CL-F||June Bonds #ZB_F||June Euro #6E_F|
|Resistance 3||1306.9||16.87||74.23||142 4/32||1.1906|
|Resistance 2||1299.7||16.70||73.41||141 26/32||1.1859|
|Resistance 1||1295.7||16.61||72.97||141 20/32||1.1834|
|Support 1||1284.5||16.36||71.71||141 4/32||1.1762|
|Support 2||1277.3||16.19||70.89||140 26/32||1.1715|
|Support 3||1273.3||16.10||70.45||140 20/32||1.1690|
|Contract||July Corn #ZC_F||July Wheat #ZW_F||July Beans #ZS_F||July SoyMeal #ZM_F||June Nat Gas #NG_F|
Economic Reports, source:
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.