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Survivor Day Trader & Economic Reports 7.23.2015

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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 July 23, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

 Hello Traders,

Survivor Day Trading

I started as a commodity broker back in 1998, when commissions of $25 per round turn for the E-minis were considered a deep discount. I had the luxury of observing many types of day traders and saw things from the sidelines that most traders could not see during the heat of battle, one of which is the importance of solid money management for the long-term survival of day trade.

Day trading is by definition a trade that is initiated and completed during the same trading day. In this wide category, you will find many types of traders. On one end of the spectrum are scalpers, who go for one or two ticks of profit several times a day in trades lasting just seconds. On the other side are speculators who stay in a position from the start of the day until the close. One of the main appeals of day trading for all types is that the trader goes home flat without having to worry about positions. When the market closes, the day is done.
Money management, as the name implies, is applying prudent principles to help conserve your trade (risk) capital. Without risk capital to trade, a speculator does not have a chance to succeed.
Preserve Your Trading Capital
The liquidity and volume of markets including the E-mini S&P 500, U.S. 30-year bonds and many others are attracting increasing numbers of day traders. The speed of execution, the growth in technology and a continued trend toward lower commissions provides an attractive environment for day trading.
Today, traders can take into account mixed markets that are open nearly 24 hours a day and offer low day-trading margins. It’s easy to understand the reason some futures markets are now considered day-trading heavens for many who previously traded stocks, foreign exchange and other instruments.

To read more about:

Unique money management for day traders 

Fear and Greed

Calculating daily profit targets and daily loss limits

Position Size and more…..

Download PDF instantly 


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.

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Futures Trading Levels

Contract Sept. 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2122.00 4685.50 17946 1273.03 98.71
Resistance 2 2117.00 4661.00 17891 1265.07 98.33
Resistance 1 2112.25 4637.75 17837 1260.33 97.99
Pivot 2107.25 4613.25 17782 1252.37 97.60
Support 1 2102.50 4590.00 17728 1247.63 97.26
Support 2 2097.50 4565.50 17673 1239.67 96.88
Support 3 2092.75 4542.25 17619 1234.93 96.54
Contract Aug. Gold Sept. Silver Sept. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1118.4 15.17 51.88 154 17/32 1.1072
Resistance 2 1110.3 15.02 51.30 154 1.1024
Resistance 1 1101.7 14.89 50.21 153 16/32 1.0974
Pivot 1093.6 14.74 49.63 152 31/32 1.0926
Support 1 1085.0 14.61 48.54 152 15/32 1.0876
Support 2 1076.9 14.46 47.96 151 30/32 1.0828
Support 3 1068.3 14.33 46.87 151 14/32 1.0778
Contract Dec. Corn Sept. Wheat Nov Beans Dec. SoyMeal Aug Nat Gas
Resistance 3 425.8 537.9 1014.58 353.03 3.00
Resistance 2 422.0 533.1 1009.67 349.87 2.96
Resistance 1 417.8 524.9 1002.58 346.43 2.92
Pivot 414.0 520.1 997.67 343.27 2.88
Support 1 409.8 511.9 990.6 339.8 2.8
Support 2 406.0 507.1 985.67 336.67 2.81
Support 3 401.8 498.9 978.58 333.23 2.77
Economic Reports


All times are Eastern time Zone (EST)

Date 4:06pm Currency Impact Detail Actual Forecast Previous Graph
ThuJul 23 3:00am EUR Spanish Unemployment Rate 22.9% 23.8%
8:30am USD Unemployment Claims 279K 281K
10:00am EUR Consumer Confidence -6 -6
USD CB Leading Index m/m 0.1% 0.7%
10:15am EUR German Buba President Weidmann Speaks
10:30am USD Natural Gas Storage 71B 99B

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: Commodity Trading   | Future Trading News   | Futures Trading  

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