Navigating the Reality of Losing Days in Trading Futures - 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.

Navigating the Reality of Losing Days in Trading Futures

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 August gold is front month.

September bonds, 10 years, 5/2 and notes is front month.

Some days are just losing days….

 

Don’t fight it. You will have losing days. I have been in the futures industry for 15 years now and never have I met a trader who did not have a losing day…and I will never meet one….impossible.

 

Understand it and accept it. One of your hardest jobs as a day trader is to make sure a losing day does NOT become a disaster…Our human emotions and our brain is not programmed very well to learn how to lose. Yet one of the key differences between traders and those who try to become “traders”…is that traders first learn how to lose. They understand losing is part of trading. The others, refuse to take a losing day and will make many mistakes along the way to make a “normal losing” day into a disaster. That may be carrying positions overnight when they normally don’t, reversing, pyramiding and many other mistakes that they would normally not make. That turns a “normal losing day” (maybe for an account of $10,000, a normal losing day would be down $700?) into one of those days where they wipe out half of their account, if not more.

 

Have realistic expectations. Under the statistics of your own trading. Keep notes.

 

Sometimes we need to learn how to lose before we can excel in trading.

 

 

If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

Questions? We are happy to help!

 

Daily Levels for May 31st, 2024

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* 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.

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Posted in: Commodity Brokers   | Commodity Trading   | Day Trading   | Future Trading News   | Futures Broker   | Futures Exchange   | Futures Trading   | futures trading education   | Gold Futures  

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Watch 4 short videos on the topics of:
  • Using Bollinger Bands and Parabolics
  • Using range Bars for Day-Trading
  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
  • License 3 Broker at your Fingertips
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