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Mental Stops? – Trading Futures 8.25.2016

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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 Thursday August 25, 2016

Hello Traders,

Greetings!

Mental Stops…..

Every so often I hear clients tell me, ” they don’t use hard stops…they use mental stops”

While the mental stop idea can work 8 out of 10 times, the 1-2 times it does not work will wipe out your account.

Try using mental stops when you were trading crude yesterday and all of a sudden news about Iran looking to comply with production hit the market and market went up over 80 cents in few minutes…

or maybe you had a mental stop on long gold early this morning when all of a sudden in a few minutes gold dropped $14 per contract.

I have seen it happen before with the SP and other stock indices, I have seen it happen in all markets I watch and trade at one time. it’s not a question if, but rather when. Big moves happened and will happen. Not every day, not in every market at the same time but they will happen in all markets at one given time or another.

So unless you have unlimited amounts of risk capital and/ or crystal ball-  use hard stops in the system OR learn how to hedge your positions using options and weekly options.

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

Levels for Trade Date of  8.25.2016

Contract Sept. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2204.75 4869.50 18653 1260.10 95.31
Resistance 2 2196.25 4846.50 18599 1254.40 95.09
Resistance 1 2185.75 4816.75 18536 1245.10 94.91
Pivot 2177.25 4793.75 18482 1239.40 94.69
Support 1 2166.75 4764.00 18419 1230.10 94.51
Support 2 2158.25 4741.00 18365 1224.40 94.29
Support 3 2147.75 4711.25 18302 1215.10 94.11
Contract Dec. Gold Sept. Silver Sept. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1356.3 19.29 48.81 173 21/32 1.1380
Resistance 2 1350.2 19.13 48.27 173 7/32 1.1351
Resistance 1 1339.2 18.83 47.52 172 23/32 1.1314
Pivot 1333.1 18.66 46.98 172 9/32 1.1285
Support 1 1322.1 18.36 46.23 171 25/32 1.1248
Support 2 1316.0 18.20 45.69 171 11/32 1.1219
Support 3 1305.0 17.90 44.94 170 27/32 1.1182
Contract Dec. Corn Dec. Wheat Nov. Beans Dec. SoyMeal Sept. Nat Gas
Resistance 3 343.0 434.3 1026.00 335.20 2.89
Resistance 2 341.3 431.8 1018.25 332.50 2.86
Resistance 1 338.8 429.0 1011.75 329.70 2.82
Pivot 337.0 426.5 1004.00 327.00 2.79
Support 1 334.5 423.8 997.5 324.2 2.8
Support 2 332.8 421.3 989.75 321.50 2.72
Support 3 330.3 418.5 983.25 318.70 2.68

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

All times are Eastern time Zone (EST)

Date 4:32pm Currency Impact Detail Actual Forecast Previous Graph
ThuAug 25  4:00am EUR
German Ifo Business Climate
108.5 108.3
6:00am GBP
CBI Realized Sales
-5 -14
8:30am USD
Core Durable Goods Orders m/m
0.4% -0.4%
USD
Unemployment Claims
265K 262K
USD
Durable Goods Orders m/m
3.4% -3.9%
9:45am USD
Flash Services PMI
51.9 51.4
10:30am USD
Natural Gas Storage
22B 22B
All Day ALL
Jackson Hole Symposium

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.

Tags: > Posted in: Future Trading News  

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