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Tag: Discount Brokers

Fed Chair Testimony Tomorrow & Support and Resistance Levels 1.11.2021

Posted on by Ilan
Get Real Time updates and more on our private FB group!

More than a few FED Personnel will be talking tomorrow which can move the markets at times. Please see insight by my colleague John Thorpe, Senior Broker below:

Fed Chair Testimony tomorrow morning , 10:00 a.m. EST Tomorrow , January 11th, Jerome Powell will be speaking at 10:00 a.m. EST Before the Committee on Banking, Housing, and Urban Affairs in the U.S. Senate , Prepare yourselves and trading accounts for statements designed to provide calm in lieu of the recent market turbulence. The difficulty for Powell, unlike his recent speech about the Fed minutes, which is written ahead of time, is this “testimony” will be ad lib. My belief is the markets will react more intensely to Chairman Powell’s testimony than the volatility we saw during the January 5th minutes of the December 14-15 2021 policy meeting. Markets have been traveling largely in one direction since that moment in time. Equity indices lower, Bonds and notes lower, Metals lower, food stuffs lower.. Be careful during this time frame and expect unexpected market reactions in many of the markets we are trading during his nomination testimony.

 

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 when it comes to Futures Trading.

 

Futures Trading Levels

01-11-2022

Futures Support and Resistance Levels 1.10.2022

 


Economic Reports, Source: 

https://bettertrader.co/ 

Better Trader Economic Indicators 1.11.2022

 

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.

“Cut Your Losses Short” Advice from an Ex Floor Broker

Posted on by Ilan

Dear Futures Trader,

Get Real Time updates and more on our private FB group!

Cut Your Losses Short – Quick but important advice by John Thorpe, Senior Broker and ex floor broker:

As Brokers we see too many self directed accounts under stress because losses are allowed to run.
I am not quite sure what the logic is, or even if there is logic attached to the decision to hang on to losing trade Ideas, and many times doubling up or even tripling up on the losing position. Invariably, when there is no more money left, the client is forced out only to see the market finally turn.
One of the traders Jack D. Schwager interviewed for his first Market Wizards book had this quote and a dose of reality.
I tend to cut bad trades as soon as possible, forget them, and then move on to new opportunities. The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you follow these three rules, you may have a chance. – Ed Seykota
If you are looking for other reference material please contact your Cannon Broker for lists of solid, informative and helpful trading tomes

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 when it comes to Futures Trading.

 

Futures Trading Levels

11-09-2021

 

Futures Trading Support and Resistance Levels 11.09.2021


Economic Reports, source: 

https://bettertrader.co/ 

Better Trader Economic Reports 11.09.2021

 

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.

Non Farm Payroll Report Out Tomorrow & Support and Resistance Levels 11.04.2021

Posted on by Ilan

Dear Futures Trader,

Get Real Time updates and more on our private FB group!

NFP – Non Farm Payroll report out tomorrow at 5:30 AM ( lucky us on the west coast….) or 8:30 AM Eastern time.

This is probably the most watched market report each month and a market mover across the board!
Do your homework, be ready and if in doubt, stay out….
From ForexFactory.com:
Source Bureau of Labor Statistics (latest release) Measures Change in the number of employed people during the previous month, excluding the farming industry; Usual Effect’ Actual’ greater than ‘Forecast’ is good for currency;
Frequency Released monthly, usually on the first Friday after the month ends; Next Release Dec 3, 2021
FF Notes This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts;
Why Traders
Care
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity;
Also Called Non-Farm Payrolls, NFP, Employment Change;
If you are looking for other reference material please contact your Cannon Broker for lists of solid, informative and helpful trading tomes

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 when it comes to Futures Trading.

 

Futures Trading Levels

11-05-2021

Futures Support and resistance trading levels 11.05.2021

 


Economic Reports, source: 

https://bettertrader.co/ 

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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.

Weekly Newsletter #1040 Day Trading Using Counter Trend or Trend Following Concepts Video and Trading Levels for the Week Ahead

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1040

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Trading 101: Trading Video: How I like to day-trade futures using either counter trend or trend following concepts ( or what I call simpler approach to day trading)
In This 25 Minutes Video You Will Learn The Following:
1. Possible advantages of using range bar charts over time charts for day trading
2. Trade set ups using counter trend indicators
3. Trade set ups using trend following indicators
4. The concept of price confirmation
5. Tips and insights from Ilan’s observations of different markets
6. You will be able to install the indicators/concepts mentioned and practice right away with your own demo!
Dr Copper – -Weekly Copper Chart for your review below
Copper Futures Weekly Chart
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 when it comes to Futures Trading.

 

Futures Trading Levels

2-21-2021

Futures Support and Resistance Levels

 

Weekly Levels

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Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Reports 2/22 - 2/26

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 herein 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 tradin

New Product:  Small Exchange Treasury Yield & Support and Resistance Levels 12.16.2020

Posted on by Ilan

_________________________________________________

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

_________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
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Have you heard? There’s a new futures exchange in town and NOW you can trade the 10 years Yield!.
Interest rates have never been lower,* and now trading them has never been easier. Small Treasury Yield / S10Y gives you access to the lowest interest rate environment in the history of US Treasuries all in a small, standard, and simple future. And the Small Exchange is letting you test it out for zero exchange transaction fees! Put oversized, complicated bond products in your past… trade the future of interest rates.
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Don’t miss this limited-time opportunity to trade S10Y for zero exchange transactions fees! The Small Exchange will waive all exchange transaction fees for the Small Treasury Yield futures until January 29th.†
*All-time low in 10-year Treasury rate of 0.52% on August 4, 2020, according to treasury.gov.
†The Small Exchange $0.07 and $0.15 exchange transaction fees will be waived. Commissions and other fees charged by, or passed through from, your broker will still apply. Visit the Small Exchange fee page for a full list of our fees.
© 2020 Small Exchange, Inc.  All rights reserved.  Small Exchange, Inc. is a Designated Contract Market registered with the U.S. Commodity Futures Trading Commission.  The information in this advertisement is current as of the date noted, is for informational purposes only, and does not contend to address the financial objectives, situation, or specific needs of any individual investor.  Trading futures involves the risk of loss, including the possibility of loss greater than your initial investment.

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 when it comes to Futures Trading.

 

Futures Trading Levels

12-16-2020

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Economic Reports, source: 

 www.BetterTrader.co

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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.

Weekly Newsletter #1031: Knowing What You Don’t Know in Trading Markets, Copper Futures Daily Chart & Futures Levels 12.07.2020

Posted on by Ilan

Cannon Futures Weekly Letter Issue # 1031

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Trading 101: Knowing What You Don’t Know in Trading Markets
From our friend Jim Wyckoff at JimWyckoff.com
The headline of this educational feature may be a bit confusing, but I will explain what I mean shortly. First, I want to reiterate that trading futures, stock and FOREX markets is not an easy undertaking. It disgusts me that there are a few unsavory people in our industry that portray trading as an easy, get-rich-quick scheme, or as some endeavor for which there are “secrets” to be learned from those who hold “trading secrets.”
Folks, the plain truth is that there are no trading secrets and no easy paths to quick success in trading markets. Beware of anyone who tries to tell (or sell) you such. One of the biggest obstacles to success in trading markets is a lack of knowledge and understanding of the process of trading. The “process of trading” includes understanding financial leverage, market behavior and trader psychology. Understanding the process of trading can be achieved with perseverance and a willingness to continue to learn.
It’s not coincidental that trading markets is similar to most other human endeavors: Hard work and experience are required to achieve notable success. A person who enjoys classic automobiles would not attempt to tear down and successfully rebuild an engine without having some previous experience, or without having learned about the workings of an automobile engine—including knowing about the tools involved in the operation
Click here to Read the rest of the article
Dr. Copper
Copper and copper futures have a special place in the commodity futures universe. As one of the most important industrial and building materials in the world, copper’s market price is seen as an important fundamental economic indicator for not only the health of the U.S. economy, but also for the robustness of the world’s economy as a whole. In fact, because of copper’s generally accepted importance as an economic indicator in predicting and reflecting over-all economic health, it is ascribed to be the only commodity with a doctorate degree in the field of economics, hence the title, “Dr. Copper”. Cannon Trading’s brokers affectionately call out the words “Dr. Copper” when referring to copper’s present price and market movements, amongst themselves, in a cheerful genuflecting to the respect we believe this commodity and futures contract deserves. Copper’s recent market trading range /trend can be observed in the daily chart below.
Copper Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $4620 initial, $4200Maint. ( as of the date of this newsletter)
Point Value: full Cent = $12.50( Example: $5.60 to $5.61/bu ). Min fluctuation is 2/8ths of a cent = $12.50 ( Example: 5.60 -5.602)
Settlement: Deliverable, FND is last business day preceding the contract month
Months: March (H), May (K), July (N), September (U,) December(Z)
Weekly Options: NO
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To access a free trial to the ALGOS shown in the chart along with other tools, visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

12-07-2020

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Weekly Levels

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Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

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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 herein 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

How Discount Brokers Work?

Posted on by Ilan

Discount Futures Brokerage is formatted to provide a more cost effective way of trading futures for experienced traders who are comfortable placing trades over the internet , using their personal computer..

Discount Futures Brokers typically offer lower service fees and take a more minimal role in daily trading decisions. What you are essentially using a broker since then, is to place orders and for representation on the exchange floor. It is true that futures trading, or any trading market for that matter, could not operate without market participants and market professionals representing those participants. With commodities markets being so risky, regardless of cost it is clear that qualified brokers are vital to the success of participants of various markets.

What’s The Difference?

The biggest difference with discount brokers is the client’s ability to be more self-directed with their trading profile. The risk associated with futures trading disclaims that there is no guarantee of profit no matter who manages your money. No matter the level of involvement, brokers still represent the interests of every client and are likewise as valuable.  The need for Futures Trading Brokers will never become obsolete, so the emphasis on discount brokerage need be on discounted commissions and fees, not discounted service.

Below is a list of lesser or excluded fees associated with a discount futures brokerage:

  • Account Maintenance Fees
  • Platform Fees
  • DataFeed Fees (Online/E-Trading)
  • Low Margin Investments
  • Broker Support Fees

Another difference with discount brokerage is the type of platform often used for this type of futures brokerage service; online. Online Futures Trading is in some cases synonymous with a discount futures brokerage. The reason this is, is due to lower costs associated with online platforms that allow you to do most of the monitoring of real time market data. A wide selection of online futures companies provide the software you can download to use to trade and build a profile. When one places orders online, he doesn’t need to call his broker and place orders via phone. That saves the time of the broker and allow for lower, discounted fees.

Continue reading “How Discount Brokers Work?”

Futures Trading Levels and Economic Reports for April 9, 2013

Posted on by Ilan

 

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Tuesday April 9, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

I am getting excellent feedback on the daily email, information and trading levels and I appreciate it!

 

I would like to ask you for a small favor in return….
If you are a member on Elite trader and/ or use google plus –
Please take a moment to write a positive review on our services/ firm at:
http://www.elitetrader.com/br/?action=view&R_FirmID=229
https://plus.google.com/104474120507024800084/about

 

 

On a different note, earnings season is starting today and will play a role in the intraday moves/ overnight moves of stock index futures.

 

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.