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Tag: day trading

Futures Levels & Economic Reports 7.16.2015

Posted on by Ilan

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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 16, 2015

Hello Traders,

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

Hello Traders,

Why Didn’t I Get Filled?

“A treatise to Demo Traders”, on behalf of Commodities brokers everywhere.

By Cannon Trading Commodities Broker

Demo Trading. Also known as simulated trading, paper trading, playing with Monopoly money; whatever you’d like to call it, a demo can be your best friend or your worst enemy. Every Futures broker dreads having this conversation with their clients, as it is necessary with every new trader; however, much to a broker’s chagrin, every new trader will say that they already understand when in fact they rarely do. Let me assure you, if you’re a new or even intermediate trader, you probably don’t. You may understand one popular issue of the conversation but odds are if you have been paper trading for five years waiting to be “successful” or to “understand the futures markets” in the simulated world before moving on, you have less of a chance of being successful in the live futures markets because you’re setting yourself up for failure (if you ever do, in fact, trade in the live markets). You should seriously consider speaking with a licensed commodities and futures broker before diving in.

For the uninitiated, demo trading is the practice of trying out an online trading platform on a simulated basis-in a free demo trading account, you’re granted simulated funds, you’re placing simulated orders in the markets and you’re shown simulated profits and losses on what your trades might have done for you if you were futures trading on a live platform with live funds. First and foremost, it’s a wonderful technological tool for testing out a platform to see if it will suit your trading methodology. It can also be used to try different trading strategies, but problems arise when one equates simulated trading too much with live futures trading.

Read the Rest

Different Types of Trading Days 6.02.2015

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

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 Tuesday June 2, 2015

Hello Traders,

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

Hello Traders,

The first trading day of June 2015 was a wild ride in many markets….almost as if the markets were quite confused on the direction for the month and traded very choppy with “unexplained, fast moves” both ways. I saw this in stock index futures, metals, currencies and even the grain sector…

As traders we need to learn how to adapt quickly, sense what type of trading day is developing in front of us and trade accordingly.

I wrote the following a while back and shared it before but worth sharing again as refresher:

  • 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.

Continue reading “Different Types of Trading Days 6.02.2015”

3 Different Types of Day Trading Days & Economic Reports 4.22.2015

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

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 Wednesday April 22, 2015

Hello Traders,

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

Hello Traders,

Many different ways to make and lose money trading futures, even more so when day trading.

Today’s action in crude oil futures led me to write about:

Three main approaches out there in my opinion.

The first is what I call the “trend is your friend”. A trader looks at few different time frames, looking to see if there is an established trend on longer time frame ( example 60 minutes chart) and then trying to look for pull back on lower time frames and “join the trend”. Only works for certain markets and only works few times of the month as most days markets do not have an intraday trend in my opinion.

Second method is what we call break out. Traders will look for markets that have been in a lower volatility situation using indicators such as ADX for example. Then they will look at the chart to find what they feel are levels that if broken can fuel a stronger move in the same direction. These levels can be extracted visually looking at the chart or using highs/ lows of X periods. This method works better on some markets than others. I noticed that crude oil and gold futures tend to have better chances of a continued breakout move than the mini SP 500 for example.

Continue reading “3 Different Types of Day Trading Days & Economic Reports 4.22.2015”

Day Trading Futures 101 & Futures Levels 4.15.2015

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

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 Wednesday April 15, 2015

Hello Traders,

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

Hello Traders,

Day Trading 101: Tight Stops? Wide Stops? Which one should I Use?

Today I decided to touch more on an educational feature rather than provide a certain market outlook.

Many of my clients and blog readers know that when it comes to short term trading I am a fan of adjusting your trading technique/ game plan according to your assessment of the type of trading day that is developing in front of you. Continue reading “Day Trading Futures 101 & Futures Levels 4.15.2015”

Futures Trading Levels & Economic Reports 2.26.2015

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

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 February 26, 2015

Hello Traders,

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

I thought the following information is very interesting and might actually be useful for traders mostly for swing and day-trading. The chart/link below will provide you with the % correlation between different markets for the past 180 days!
MRCI's Inter-Market Correlations(prev 180 trading days) - Mar 12, 2015
MRCI’s Inter-Market Correlations(prev 180 trading days) – Mar 12, 2015

http://www.mrci.com/special/correl.htm

Continue reading “Futures Trading Levels & Economic Reports 2.26.2015”

Futures Day Trading Pointers & Futures Levels 2.11.2015

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

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 Tuesday February 10, 2015

Hello Traders,

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

Few pointers for you day-traders out there. I am sure you have heard some from different resources but never hurts to read and absorb this again:

  1. Be patient
  2. Limit the number of hours you trade
  3. Know your DAILY risk before the day begins and this will dictate
  4. the number of contracts you trade
  5. Choose markets with high liquidity. Try to follow more than one market for diversification.
  6.   Know what reports come out every day and their impact on the markets
  7.   Understand that even the best methods will have losing days
  8.   Learn to accept loses
  9.   use RISK CAPITAL only
  10.   Don’t try to trade and do other things at the same time….
  11.   Educate yourself
  12.   Keep a trading journal
  13.   Evolve, be flexible.

Continue reading “Futures Day Trading Pointers & Futures Levels 2.11.2015”

Futures Levels & Economic Reports 1.22.2015

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

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 January 22, 2015

Hello Traders,

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

ECB decision and verbiage in regards to Euro Zone QE will move the markets early tomorrow morning ( 7:30 AM central time). Be aware and be ready.

We got a sneak preview today when some reports came out in regards to this matter.

VOLATILITY is the keyword today and the last few weeks.
Personally I think this market has been harder to trade.
Do your homework. Review the charts over different time frames.
Do you need to adjust entry techniques? Do you need to use LESS leverage? Perhaps your stops needs to be adjusted based on volatility?

i am just throwing some ideas out there to help you think, research and hopefully implement and adapt to what I consider a different market for day trading than we have seen for most of 2014.

In between I am sharing with you my Crude Oil 18 tick range bar chart from today with some good and some not so good signals for your review:

CLE - Crude Light (Globex), Equalized Active Continuation : Range Bar, 18 Tick Units
CLE – Crude Light (Globex), Equalized Active Continuation : Range Bar, 18 Tick Units

Would you like to have access to the DIAMOND and TOPAZ and 5T ALGOs as shown above

and be able to apply for any market and any time frame on your own PC ?   You can now have a three weeks free trial where the ALGO is enabled along with few studies for your own sierra/ ATcharts.  The trial comes with a 23 page PDF booklet which explains the concepts, risks and methodology in more details.

Continue reading “Futures Levels & Economic Reports 1.22.2015”

Swiss Franc & Futures Levels 1.16.2015

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

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 Friday January 16, 2015

Hello Traders,

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

Swiss franc made a huge move today as Swiss officials decided to detach the Swiss rate from the Euro currency….This was probably the biggest one day move I have witnessed in any commodity/futures market percent wise in my 17 years as a broker ( at the high today it was up approx. 25%, closed up 17%!!!)…..

Monthly chart below for general knowledge below…

SF6 - Swiss Franc (Globex), Monthly Continuation
SF6 – Swiss Franc (Globex), Monthly Continuation

And repeating yesterday’s words below as today was even a crazier day than any so far…..

VOLATILITY is the keyword today and the last few weeks.
Personally I think this market has been harder to trade.
Do your homework. Review the charts over different time frames.
Do you need to adjust entry techniques? Do you need to use LESS leverage? Perhaps your stops needs to be adjusted based on volatility?

i am just throwing some ideas out there to help you think, research and hopefully implement and adapt to what I consider a different market for day trading than we have seen for most of 2014.

 

Our blog is nominated for the STAR award once again!

2014 Trader Planet Award
Trader Planet Award

Please vote for our blog at:

www.traderplanet.com/l/qYd

Once there, scroll to the blog category and select

Daily Futures Trading Levels and Insight  as your first place and submit at bottom of the page!

 

GOOD TRADING

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 March 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2060.42 4276.17 17838 1214.40 95.24
Resistance 2 2043.83 4233.08 17685 1200.50 94.27
Resistance 1 2017.92 4163.92 17495 1177.00 93.44
Pivot 2001.33 4120.83 17342 1163.10 92.47
Support 1 1975.42 4051.67 17152 1139.60 91.63
Support 2 1958.83 4008.58 16999 1125.70 90.66
Support 3 1932.92 3939.42 16809 1102.20 89.83
Contract Feb. Gold Mar.Silver Feb. Crude Oil Mar. Bonds March   Euro
Resistance 3 1316.1 17.70 54.86 153 2/32 1.1975
Resistance 2 1291.7 17.47 53.06 151 30/32 1.1886
Resistance 1 1275.0 17.17 49.66 151 9/32 1.1752
Pivot 1250.6 16.94 47.86 150 5/32 1.1663
Support 1 1233.9 16.64 44.46 149 16/32 1.1529
Support 2 1209.5 16.41 42.66 148 12/32 1.1440
Support 3 1192.8 16.11 39.26 147 23/32 1.1306
Contract March Corn March Wheat March Beans March SoyMeal March bean Oil
Resistance 3 394.4 535.7 1043.83 347.00 33.98
Resistance 2 390.8 535.1 1031.67 342.50 33.66
Resistance 1 385.4 533.9 1011.33 334.60 33.33
Pivot 381.8 533.3 999.17 330.10 33.01
Support 1 376.4 532.2 978.8 322.2 32.7
Support 2 372.8 531.6 966.67 317.70 32.36
Support 3 367.4 530.4 946.33 309.80 32.03
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
FriJan 16 2:00am EUR German Final CPI m/m 0.0% 0.0%
2:45am EUR French Gov Budget Balance -84.7B
3:15am CHF Retail Sales y/y 1.1% 0.3%
5:00am EUR Final CPI y/y -0.2% -0.2%
EUR Final Core CPI y/y 0.8% 0.8%
8:30am USD CPI m/m -0.3% -0.3%
USD Core CPI m/m 0.1% 0.1%
9:15am USD Capacity Utilization Rate 80.2% 80.1%
USD Industrial Production m/m 0.1% 1.3%
9:55am USD Prelim UoM Consumer Sentiment 94.2 93.6
USD Prelim UoM Inflation Expectations 2.8%
11:00am USD FOMC Member Williams Speaks
4:00pm USD TIC Long-Term Purchases 27.3B -1.4B

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.

 

Economic Reports & Futures Levels 1.15.2015

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

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 January 15, 2015

Hello Traders,

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

VOLATILITY is the keyword today and the last few weeks.

Personally I think this market has been harder to trade.

Do your homework. Review the charts over different time frames.

Do you need to adjust entry techniques? Do you need to use LESS leverage? Perhaps your stops needs to be adjusted based on volatility?

I am just throwing some ideas out there to help you think, research and hopefully implement and adapt to what I consider a different market for day trading than we have seen for most of 2014. Continue reading “Economic Reports & Futures Levels 1.15.2015”

Futures Levels & Economic Reports 1.14.2015

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

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 Wednesday January 14, 2015

Hello Traders,

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

Very volatile day in stock index futures and energy markets along with grains and a few others….

30 minutes ago I was planning to write on how today’s action may be a bearish signal but then stocks rebounded to close near the unchanged level and lead me to believe that we still need to see a decision day/point where either the bulls or the bears take the market sharply higher/ lower….

Mini Russell 2000 daily chart for your review. My opinion is that the Russell been some what of a leader in the volatile moves we have seen.

Wide range today and I am tempted to say, I would be on the sidelines waiting to see if we can break above 1200 or below 1162 before having a directional bias for the short-medium term.

 

TFE - Russell 2000 Index Mini, Equalized Active Daily Continuation (Delayed by 10 Mins.) : Heikin-Ashi
TFE – Russell 2000 Index Mini, Equalized Active Daily Continuation (Delayed by 10 Mins.) : Heikin-Ashi

Continue reading “Futures Levels & Economic Reports 1.14.2015”

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.