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.

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Try the Newest ALGO of LEVEX Family of Studies and Conditions 3.08.2017

Posted on by Ilan

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I have added one more condition/ ALGO to sierra charts ( ATcharts) under the LEVEX family of studies. 

you can see it ( marked as a square) on the range bar chart of the last few days for the mini SP. 

ALGO to Sierra Chart for the mini SP 

If you like to try this new indicator along with the current ones along with a free trial of sierra charts (if you are not currently using it), please email me the following: 

  1. Are you a client of Cannon Trading?
  2. Are you currently trading futures?
  3. Charting software you use?
  4. If you use sierra or ATcharts, please let me know the user name so I can enable you
  5. Markets you currently trading?

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.  NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.  IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT.  IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING.  FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.  THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS

Continue reading “Try the Newest ALGO of LEVEX Family of Studies and Conditions 3.08.2017”

What’s Your Futures Trading Blood Type? 3.07.2017

Posted on by Ilan

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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What’s Your Trading  blood type?

This is a reprint of an article Ilan Levy-Mayer, VP of Cannon wrote for SFO magazine a few years back.

Valuable information which we wanted to share with you:

Perhaps the greatest luxury I have in this business is the ability to observe the experiences of many traders with different personalities, life schedules and risk capital, each trading in a variety of markets. What most astute brokers realize is that, over time, as some individuals prematurely exit winners while others desperately cling to losers, it becomes quite possible to match different “blood types” of those traders with their correct “trading diets.” Clearly, we’re not talking the medical blood type here, but in the figurative sense it makes the right point. With practice, it’s not too hard to determine blood types (type of trading best suited to the individual) based on the personality of the trader, and then prescribe a diet based on that individual trader’s capital, experience, risk profile and schedule.

Read the full article,  download the PDF “What’s Your Trading  blood type?”

Continue reading “What’s Your Futures Trading Blood Type? 3.07.2017”

Trader’s Interview 3.03.2017

Posted on by Ilan

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Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow. Front month for grains is May.

Another good read from our friend Peter Davies at JigSawtrading.com:

Ilan: Tell us a little bit about your trading background and how you got started trading.

Peter: In the mid 90’s I was a self employed IT Consultant and ended up living in Knoxville, TN, then I moved to Netherlands, then Denmark, then Japan and finally Thailand, where I ended up starting up an IT firm servicing the client I worked for in Japan. During this time, I managed to save a lot of money which was just sitting there. I ended up having my portfolio managed by a firm of financial advisors. After 3 years, they had lost 30% of the funds. Basically they got into everything that was hot the year before, a terrible strategy in hindsight. At one point, in a meeting with them, they told me they would get back the losses by leveraging my money. They said that all they needed was a 10% gain and the leverage would mean I recouped my losses. I asked them exactly how they would make that 10% gain and they said to me “Well, anyone can make a 10% gain given enough flexibility”. I politely re-determined them that if ‘anyone’ could make 10%, then they wouldn’t have lost 30%. I withdrew all my funds and figured if I was going to lose money, I might as well do it myself rather than paying them to do it for me.

I started out longer term investing but found that hit and miss and while I do still trade on mostly oversold stocks, it was day trading where I found techniques I was really comfortable with. Continue reading “Trader’s Interview 3.03.2017”

Trader’s Commodity Interview 3.01.2017

Posted on by Ilan

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow. Front month for grains is May.

A quick interview I did with our Friends over at Trading Technologies ( Cannon offers ALL of Trading Technologies products, including XTRADER for qualified clients).

Ilan Levy-Mayer is the vice president of Cannon Trading Company and chief trader for LEVEX Capital Management Inc., a commodity trading advisor. Levy-Mayer specializes in futures and commodities trading using technical analysis and algo trading. He oversees trading systems, risk and online marketing at Cannon while also running a trading program with LEVEX. A former professional basketball player, Levy-Mayer has been in the futures industry since 1998.

– Brian Mehta, CMO

You have an interesting background. How did you get involved in trading, and how has your prior experience as a professional athlete helped you as a trader?

Ilan: Athletics and trading are not so dissimilar. Learning that practice makes perfect and that spending hours in the gym would help my basketball game translated into me spending hours in front of the machine, watching markets and market patterns, trying to perfect my game.

I actually became involved in trading after becoming a broker. At the time, the online trading business just got started and I was watching too many self-directed online traders lose money way too quickly. READ THE REST….

Continue reading “Trader’s Commodity Interview 3.01.2017”

President Trump is Speaking Tonight – Markets May Listen! 3.01.2017

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp  

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow. Front month for grains is May.

President Trump will be speaking tonight ( 9 PM Eastern time) and I think that this may move the markets a bit more than usual for the night session….Be aware and be ready for possible shift in volatility tomorrow.

We are starting March with a day full of reports tomorrow, including crude oil inventories, Beige book and more!

Continue reading “President Trump is Speaking Tonight – Markets May Listen! 3.01.2017”

Futures Automated Trading System for Review 2.28.2017

Posted on by Ilan

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp  

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow.

Last trading day of the month can be different in different markets.

I noticed large volume and price action on bonds for example during 14:00 Central time ( used to be the pit session close).

Keep a trading journal and write down any patterns you see that can help you in the future. Economic reports reaction, last trading day of the month, option expiration are just a few examples.

Also, I would like to share a trading system we are personally impressed with here at Cannon, out of our iSystems menu:

https://cannon.isystems.com/System/PerformanceSheet?Id=12215

Feel free to contact your Cannon point of contact with any questions regarding this system or any other of the many trading systems we offer here at Cannon.

Continue reading “Futures Automated Trading System for Review 2.28.2017”

Day trading ALGO – FREE TRIAL 2.24.2017

Posted on by Ilan

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp  

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Heads up: Front month for energies is now April. Both crude oil and Natural gas numbers are out tomorrow. Check reports section below. 

Here is a screen shot from our trading platform, E-Futures Int’l along with enabled studies/ALGO I have created, which you can try on your own. it comes with a 15 minute remote session, 25 minute video and a 23 page PDF that explains the concept.

The screen shots are for Gold and Natural gas from yesterday’s session.

Red diamond = possible sell. Green diamond = possible buy.

Along with a few simple rules, one can use this another tool for day trading.

E-Futures Int’l Chart

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.  NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.  IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT.  IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING.  FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.  THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS

Continue reading “Day trading ALGO – FREE TRIAL 2.24.2017”

Futures Day Trader’s Check list 2.23.2017

Posted on by Ilan

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp  

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____________________________________________________________________

Heads up: Front month for energies is now April. Both crude oil and Natural gas numbers are out tomorrow. Check reports section below.

Day Trader’s Checklist:

  1. Review your statement from the prior trading day.
  2. Know what reports due for release and at what time.
  3. Know previous day’s high/low/close. Mark them on chart.
  4. Mark your support and resistance levels.
  5. Take a look at longer-term time frames.  Is the market you’re trading in a strong bias/trend?
  6. Plan your trade’s parameters ahead of time.  Know your position size limits, your loss limits, your profit targets.
  7. Print/ save a record of your trades at the end of the day.  Check for any “left over” open orders.
  8. Write down what you need to in your trading journal.

Continue reading “Futures Day Trader’s Check list 2.23.2017”

Different Type of Trading Days…..2.22.2017

Posted on by Ilan

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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In the last few weeks we witnessed very low volatility with low volume which encouraged me to share the following with you on the different types of trading days ( PS: The other solution is to also look at other markets for day trading like gold , crude oil and natural gas ) :

  • In my opinion there are 3 main types of trading days.
  1. The most common day are two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought/oversold indicators.
  2. Strong trending days, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend.
  3. Slow and/or choppy trading days – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.
  • A good question I’ve been asked is how can one asses what type of trading day we will have while the market is still trading….I have been doing some work in finding the answers and will be happy to hear feedback via email but here are some initial observations:
    1. Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session (primary session is when the cash/stock market is open)
    2. Mondays have the highest chance for trending days
    3. The behavior of the first hour of trading can also suggests the type of action for the rest of the day.
    4. If the first 30 minutes of the trading day have good volume, better chances for type 1 or type 2 trading days.
    5. Low volume during the first 30 minutes can suggest a choppy (type 3 trading day)

Continue reading “Different Type of Trading Days…..2.22.2017”

President’s Day Trading Hours 2-17-2017

Posted on by Ilan

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Dear Traders,
 

Monday is President’s Day here in the US and markets will have modified schedule.

President's Day Trading Hours

Continue reading “President’s Day Trading Hours 2-17-2017”

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.