Mindful of Trading Size - Futures Reports & Levels 8.13.2014 - Support & Resistance Levels

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

Mindful of Trading Size – Futures Reports & Levels 8.13.2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!


Today I want to touch briefly on a very important subject of “position size”.

Many traders spend hours and hours on trading signals, studies, reviewing the charts and patterns yet dedicate very little time to the subject of money management and one of it’s important aspects – position size.

If you have the ability, risk capital and desire to trade more than one contract, then position size is an important aspect.

How do you decide if you going to enter a trade with 2 or 10 contracts?
Are you the type of trader that gets in and out with ALL contracts or perhaps you enter and exit in layers?
Do you have certain set ups/ signals you feel stronger about and you enter with larger trade quantity? or do you enter all trades with a predefined number of contracts?
How do you calculate the number of contracts you will enter per trade? is it based on your account value? the market you trade?
does it changes with out regards to the account size?

As I mentioned in the beginning of this very short blog which meant to wake up that part in you as a trader, this subject is much deeper than a quick blog post but the questions/ thoughts above should encourage you to put more time and research into this matter.

To finish I will share just a few tips that I found useful and like to use:

1. Lower trade size when volatility increases as normally you will need to give your trade more room.
2. If you feel  uneasy when in a trade, more than normal, that means you are probably trading larger quantity than you should be.
3. Try to do some math based on your trading performance, worst draw-down, amount of maximum losing trades etc. to determine the amount of contracts per $ equity in the account. Example, “I will trade 1 contract of mini SP 500 per trade signal per $5,000 of equity in the account.”
4. Evaluate periodically as your account value fluctuates and as the market fluctuates.





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. Past performance is not indicative to future results.

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Futures Trading Levels

Contract Sept. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 1953.42 3954.08 16656 1153.60 81.91
Resistance 2 1946.08 3935.67 16608 1147.10 81.83
Resistance 1 1938.17 3920.08 16561 1138.50 81.69
Pivot 1930.83 3901.67 16513 1132.00 81.61
Support 1 1922.92 3886.08 16466 1123.40 81.48
Support 2 1915.58 3867.67 16418 1116.90 81.40
Support 3 1907.67 3852.08 16371 1108.30 81.26
Contract December Gold Sept.Silver Sept. Crude Oil September Bonds Sept. Euro
Resistance 3 1330.4 20.4 99.03 139 29/32 1.3443
Resistance 2 1324.8 20.3 98.48 139 23/32 1.3415
Resistance 1 1317.9 20.1 97.90 139 9/32 1.3393
Pivot 1312.3 20.0 97.35 139 3/32 1.3365
Support 1 1305.4 19.8 96.77 138 21/32 1.3343
Support 2 1299.8 19.7 96.22 138 15/32 1.3315
Support 3 1292.9 19.6 95.64 138 1/32 1.3293
Contract Dec Corn Sept. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 384.7 539.7 1098.50 362.27 37.05
Resistance 2 378.3 539.3 1084.50 356.23 36.51
Resistance 1 373.7 538.7 1072.00 349.87 35.74
Pivot 367.3 538.3 1058.00 343.83 35.20
Support 1 362.7 537.7 1045.5 337.5 34.4
Support 2 356.3 537.3 1031.50 331.43 33.89
Support 3 351.7 536.7 1019.00 325.07 33.12
Economic Reports

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

All times are Eastern time Zone (EST)


Date 3:46pm Currency Impact Detail Actual Forecast Previous Graph
WedAug 13 1:30am CNY Industrial Production y/y 9.1% 9.2%
CNY Fixed Asset Investment ytd/y 17.4% 17.3%
CNY Retail Sales y/y 12.5% 12.4%
2:00am EUR German Final CPI m/m 0.3% 0.3%
EUR German WPI m/m 0.3% -0.1%
2:45am EUR French CPI m/m -0.2% 0.0%
13th-14th CNY New Loans 780B 1080B
13th-14th CNY M2 Money Supply y/y 14.5% 14.7%
4:30am GBP Average Earnings Index 3m/y -0.1% 0.3%
GBP Claimant Count Change -29.7K -36.3K
GBP Unemployment Rate 6.4% 6.5%
5:00am CHF ZEW Economic Expectations 0.1
EUR Industrial Production m/m 0.5% -1.1%
Tentative EUR German 10-y Bond Auction 1.20|1.6
5:30am GBP BOE Gov Carney Speaks
GBP BOE Inflation Report
8:30am USD Core Retail Sales m/m 0.4% 0.4%
USD Retail Sales m/m 0.2% 0.2%
9:05am USD FOMC Member Dudley Speaks
10:00am USD Business Inventories m/m 0.4% 0.5%
10:30am USD Crude Oil Inventories -0.8M -1.8M
1:01pm USD 10-y Bond Auction 2.60|2.6
6:30pm NZD Business NZ Manufacturing Index 53.3
6:45pm NZD Retail Sales q/q 1.0% 0.7%
NZD Core Retail Sales q/q 1.1% 0.8%
7:01pm GBP RICS House Price Balance 51% 53%
7:50pm JPY Core Machinery Orders m/m 15.5% -19.5%
9:00pm AUD MI Inflation Expectations 3.8%

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 judgment in trading.


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