Trading Week Starts with Strong Sell off – FOMC this Week

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Fed Likely to Sidestep Trade War to Raise Rates on March 21

  • 12 Mar 2018
  • By Bluford Putnam
  • Topics: Economic Events, Interest Rates

The trade war that could stem from U.S. tariffs on steel and aluminum is unlikely to affect GDP, freeing the Fed to raise rates at its March 21 meeting.

Watch Video: http://www.cmegroup.com/education/featured-reports/fed-likely-to-sidestep-trade-war-to-raise-rates-on-march-21.html

Continue reading “Trading Week Starts with Strong Sell off – FOMC this Week”

Quadruple Witching 3.16.2018

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March madness in futures + Quadruple Witching….

Futures, futures options, stock options and single stocks all expire tomorrow morning right on the open of the stock market.

Keep in mind that March mini SP and it’s relatives (mini Dow, mini Nasdaq etc.) EXPIRE tomorrow and cash settle based on special settlement price….Markets can get volatile tomorrow morning right before and around the open.

The March contract will simply cease to trade. If you have not switched to June yet, now is the time…..

Continue reading “Quadruple Witching 3.16.2018”

Educational Videos 3.14.2018

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Rollover Notice 

We are now trading June indices as well as June financials.

  • ESM8
  • NQM8
  • RTYM8
  • YMM8
  • ZBM8 ( bonds)

Currencies will rollover to June starting this week, monitor volume and I like to trade the month with the highest volume BUT regardless by Friday I will start trading June currencies.

Educational Videos

by: Cannon Trading Brokers

Cannon Trading is happy to share with you a few videos focusing on trading techniques, ideas and tools you can add to your trading arsenal. In this week’s newsletter we are sharing the following 3 videos, about 5 minutes each, ready for immediate viewing on the following topics:

  1. Identifying Support And Resistance Using A Line Chart.
  2. Finding Levels of Support Resistance
  3. Day Trading crude oil futures using fear and greed….

Watch Videos

Continue reading “Educational Videos 3.14.2018”

Non Farm Payroll Tomorrow + Rollover Notice!

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

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Non Farm Payroll tomorrow morning 8:30 AM EST 

Employment situation from Econoday

Employment situation from Econoday 

Rollover notice 

Rollover Notice for Stock Index Futures

Important notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones etc., it is extremely important to remember that we are now rolling over and trading the June contract.

Starting March. 8th, the June 2018 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the June 2018 contract as of March 8th. Volume in the March 2018 contracts will begin to drop off until its expiration on Friday March 15th.

The month code for June is M8

Traders with electronic trading software should make sure that defaults reflect the proper contract as of Friday morning.

Please close any open March Currency positions by the close on Friday the 16th.

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.

Futures Trading Levels

3-08-2018

Contract June 2018  SP500 Nasdaq100 Dow Jones Mini Russell BitCoin Index
Resistance 3 2777.00 7080.42 25285 1603.13 10986.67
Resistance 2 2759.75 7045.83 25135 1592.97 10543.33
Resistance 1 2754.50 7012.67 25033 1583.33 9991.67
Pivot 2741.25 6980.08 24883 1573.17 9548.33
Support 1 2734.00 6957.92 24781 1563.53 8996.67
Support 2 2720.75 6911.33 24631 1553.37 8553.33
Support 3 2712.50 6892.17 24529 1543.73 8001.67
Contract Apr. Gold May Silver Apr. Crude Oil June  Bonds Mar.  Euro
Resistance 3 1338.7 16.72 62.61 145 1.2562
Resistance 2 1334.2 16.65 62.00 144 16/32 1.2508
Resistance 1 1328.5 16.57 61.16 144  3/32 1.2413
Pivot 1324.0 16.50 60.55 143 19/32 1.2358
Support 1 1318.3 16.43 59.71 143  6/32 1.2263
Support 2 1313.8 16.36 59.10 142 22/32 1.2209
Support 3 1308.1 16.28 58.26 142  9/32 1.2114
Contract May  Corn May Wheat May Beans May SoyMeal Apr. Nat Gas
Resistance 3 402.3 516.7 1082.08 392.33 2.84
Resistance 2 398.0 509.6 1075.67 389.27 2.81
Resistance 1 395.8 504.4 1069.83 386.33 2.78
Pivot 391.5 497.3 1063.42 383.27 2.76
Support 1 389.3 492.2 1057.6 380.3 2.7
Support 2 385.0 485.1 1051.17 377.27 2.70
Support 3 382.8 479.9 1045.33 374.33 2.67

Economic Reports, source: 

http://app.bettertrader.co

Economic Report - Friday, March 9th

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.

Rollover Notice for Stock Index Futures! 3.08.2018

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

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Rollover notice

Rollover Notice for Stock Index Futures

Important notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones etc., it is extremely important to remember that we are now rolling over and trading the December contract.

Starting March. 8th, the June 2018 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the June 2018 contract as of March 8th. Volume in the March 2018 contracts will begin to drop off until its expiration on Friday March 15th.

The month code for June is M8

Traders with electronic trading software should make sure that defaults reflect the proper contract as of Friday morning.

Please close any open March Currency positions by the close on Friday the 15th.

Continue reading “Rollover Notice for Stock Index Futures! 3.08.2018”

Day Trading Mind Traps 3.07.2018

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Trading 102: Day Trading Mind traps 

“One way our brain helps keep us safe is to protect us from an awareness of our weaknesses. The brain believes that it is better to be falsely confident than recognize the real risks. This protective mechanism tends to work against us in trading.” Kenneth Reid, Ph.D

MINDING THE MIND

The mind can play tricks on us. Intuitive Trading is an attempt to mind read the market, which makes us susceptible to whipsaws. Hindsight Bias causes traders to underestimate the difficulty of trading, while Competency Bias causes us to over-estimate our abilities. These are mental banana peels that set us up for a fall.

INTUITIVE TRADING

Intuitive trading is a natural response to excessive randomness and non-linearity in the market. But making informed guesses is not the same as formulating a rule-based pattern-recognition system that gives a trader a true edge. Without a rule-based plan, intuitive traders expend a great deal of energy mindreading the market, which will not improve your odds of success. In fact, professional traders make a good living exploiting the emotionally-driven behavior of intuitive amateurs.

Continue reading “Day Trading Mind Traps 3.07.2018”

VOLATILITY Requires Adjustment in Your Trading Tactics 3.06.2018

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Heads up:

Wishing everyone a GREAT trading month in March!

Volatility is here. In my opinion, traders need to adjust their trading tactics accordingly.  We will be happy to help, chat trading and more if interested.

Plan your trade, trade your plan!!

Continue reading “VOLATILITY Requires Adjustment in Your Trading Tactics 3.06.2018”

VOLATILITY is a Double Edge Sword 3.02.2018

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

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Heads up:

Wishing everyone a GREAT trading month in March!

Volatility is here. In my opinion, traders need to adjust their trading tactics accordingly.  We will be happy to help, chat trading and more if interested.

Plan your trade, trade your plan!! Continue reading “VOLATILITY is a Double Edge Sword 3.02.2018”

Insights from a Day Trader 2.27.2018

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Trading 102: Insights from a Day Trader on preparing for the trading day, mental notes and much more – Written by a current, active day-trader

The following was shared with me by a client of ours, an international trader, who has been trading with us for a few years now. I was VERY IMPRESSED with the content and the thoughts behind this so I asked his permission to share this with our readers and he agreed. The content was originally written in another language and the translation below is intended to try and preserve some of the authenticity of the writing….

Focusing for the Trading Day

  1. I believe that you can earn and make a living from intraday trading on futures contracts. It is very difficult but achievable.
  2. Responsibility – I am absolutely responsible for being an intraday trader in general and for my trading activities in particular. This responsibility is comprehensive, expansive (also subjects that are not directly responsible for me – they are my responsibility !!!) and can not be divided.
  3. My trading plan is orderly and has a positive financial profit expectancy. I believe in her.
Read More

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Trading Systems Updates 2.23.2018

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Trading Systems Updates:

New in 2018, we have expanded the display of trading system reports on our website.

TRADE SMART / BASE TRADING ON ACTUALS ONLY — for the current rankings of trading systems traded at Cannon, click here .

Cannon Trading Co, Inc. is registered with the CFTC and a member of the NFA.

Continue reading “Trading Systems Updates 2.23.2018”