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Setting Daily Profit Target and Money Management for Futures Trading 4.10.2014

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

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 April 10, 2014


Hello Traders,

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

I wrote a good article a few years back about day trading money management and one of my points was that it is my personal opinion that if a day trader sets a daily target profit and walks away when he or she achieves that target, they will fare better in the long run.

I might be wrong but think about it, if you are trading a $10,000 account and have a daily profit target of $500. How many times were you there intraday? Would your account equity be in a better shape now if you walked away each day when you made $500 ( in addition to implementing a daily stop level?)

The profit level will be different for each trader based on account size, trading style, aggressiveness level etc. but from talking with many different clients and observing many different clients I think that setting daily profit  AND daily money management will help most traders financially as well as emotionally.

If you want to read the full article and you are a client, simply email me your name and account number and i will email the PDF to you. If you are a prospect, please share with me your trading experience and software you are using and I will be happy to email it to you as well.


GOOD TRADING

If you like the information we share? We would appreciate your positive reviews on our new yelp!!

 

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

Contract June 2014  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1896.17 3683.08 16629 1180.83 80.27
Resistance 2 1881.33 3638.67 16499 1168.97 80.11
Resistance 1 1873.42 3615.08 16433 1162.23 79.85
Pivot 1858.58 3570.67 16303 1150.37 79.69
Support 1 1850.67 3547.08 16237 1143.63 79.43
Support 2 1835.83 3502.67 16107 1131.77 79.27
Support 3 1827.92 3479.08 16041 1125.03 79.01
Contract June Gold May Silver May Crude Oil June Bonds  June Euro
Resistance 3 1331.6 2060.8 105.83 134  3/32 1.3959
Resistance 2 1323.5 2035.2 104.80 133 29/32 1.3908
Resistance 1 1317.2 2011.3 104.09 133 18/32 1.3880
Pivot 1309.1 1985.7 103.06 133 12/32 1.3829
Support 1 1302.8 1961.8 102.35 133  1/32 1.3801
Support 2 1294.7 1936.2 101.32 132 27/32 1.3750
Support 3 1288.4 1912.3 100.61 132 16/32 1.3722
Contract May Corn May Wheat May Beans May SoyMeal May bean Oil
Resistance 3 527.2 683.7 1527.17 502.77 43.68
Resistance 2 522.1 680.3 1518.08 496.83 43.30
Resistance 1 512.2 674.7 1506.67 489.47 43.11
Pivot 507.1 671.3 1497.58 483.53 42.73
Support 1 497.2 665.7 1486.2 476.2 42.5
Support 2 492.1 662.3 1477.08 470.23 42.16
Support 3 482.2 656.7 1465.67 462.87 41.97
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:06pm Currency Impact Detail Actual Forecast Previous Graph
ThuApr 10 2:45am EUR French Industrial Production m/m 0.2% -0.2%
EUR French CPI m/m 0.6% 0.6%
4:00am EUR ECB Monthly Bulletin
EUR Italian Industrial Production m/m -0.2% 1.0%
8:30am USD Unemployment Claims 314K 326K
USD Import Prices m/m 0.2% 0.9%
Day 1 ALL G20 Meetings
All Day ALL G7 Meetings
10:30am USD Natural Gas Storage 15B -74B
1:01pm USD 30-y Bond Auction 3.63|2.4
2:00pm USD Federal Budget Balance -76.5B -193.5B

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

Tags: > > > > > > Posted in: Future Trading News   | Futures Trading  

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