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Futures Trading Levels and Economic Reports for January 8, 2011

Posted on February 8, 2011September 10, 2014 by Ilan

Thought the quick article below is definitely worth sharing.

Costly hiccups – do YOU have any?

by RealityTrader.com

Continuing our mini-series devoted to trading psychology, let’s look into another very common problem traders encounter.

One of the most frequent questions I get: “OK, I seem to have mastered a lot, I can extract money from the markets and I have stretch of winning days BUT… one day comes when I seem to be unable to follow my own rules, I start doing everything against what I learned, dig deeper and deeper hole… and when the day is over I find myself giving back all I made in a week before that! I feel groggy… then I remember everything I learned, pick myself up, glue pieces together, start trading carefully, start making money… only to have another blow-off just like the previous one in a week or two! What’s going on, why can’t I control myself and how do I avoid these frustrating days??”

If all above sounds familiar – it should. I haven’t met many traders who avoided this problem. Good news is, it’s a somewhat good problem to have since it appears at the stage where your method is good enough and mastered well enough so you are able to make money consistently inbetween those disgusting days. Bad news is, there is no other way to overcome this problem but to understand the root of it. This, however, is true for all psychological barriers we encounter in trading – no magic button to push and turn the problem off, have to understand where the problem stems from so you can recognize it when it re-appears and apply the right patch. And this problem is pure psychological – after all, what could change so drastically on the fifth day after four days of winning? Aside of your own behavior that is.

Vadym is the author of Techniques of Tape Reading (McGraw Hill 2003), How to Scalp Any Market (2005) and Master Profit Plan (2005). Vadym is a frequent featured speaker at International Trader’s Expos and Financial Forum Conferences.

He is the founder of RealityTrader.com, a hands-on training company, working with a global community of individuals to achieve high levels of trading success.

Vad is a professional trader and an international private trading mentor responsible for turning around the trading careers of thousands of trader. He has also published articles and interviews in industry magazines, corporate product newsletters and trading forums Continue reading “Futures Trading Levels and Economic Reports for January 8, 2011”

Futures Trading Levels and Economic Reports for February 7, 2011

Posted on February 5, 2011January 8, 2015 by Ilan

I personally find more “true market behavior” now days in markets like gold, Euro, crude oil and others versus stock index futures. It seems that quantitative easing (QE) has took out the fear factor from stock index futures….or maybe when traders all think that way that is when market sentiment changes?

I am not sure…in between, if you would like to see what my intraday charts, set ups and signals look like for Crude oil, Euro and mini SP, please sign up at:

Screen shot sample from few weeks ago below ( red diamonds = suggested sell, blue diamonds = suggested buy):

SP-500-Day-Trading-2011-02-07 Continue reading “Futures Trading Levels and Economic Reports for February 7, 2011”

Futures Trading Levels and Weekly Newsletter February 3, 2011

Posted on February 3, 2011September 10, 2014 by Ilan

Next two days are full of economic numbers, plus lets not forget Egypt and Middle East….

I expect higher volatility than we witnessed today but then again, sometimes the market does what it wants, including the un- expected…..

Good quick article at:

https://www.cannontrading.com/community/newsletter/ Continue reading “Futures Trading Levels and Weekly Newsletter February 3, 2011”

8 Steps to Successful Futures Day Trading February 2, 2011

Posted on February 2, 2011September 10, 2014 by Ilan

Download and read our guide which outlines some important futures day trading concepts. It may be beneficial to read this guide before trading commodities on the futures market.

My name is Ilan Levy-Mayer and I am the Vice President and Senior Futures Broker at Cannon Trading. I came up with the following personal observations after servingone must keep in mind that futures trading is risky and can involve significant losses.

1. Education

Hopefully if you are already trading you have completed your initial education: contract specs, trading hours, futures brokers, platforms, the opportunities as well as the risk and need to use risk capital in futures, and so on. Understanding this information is essential to futures trading. The second type of education is ongoing: learning about trading techniques, the evolution of futures markets, different trading tools, and more.

2. Find a System

I am definitely not advising you to go on the web and subscribe to a “black box” system (using buy/sell triggers if don’t know why they are being generated). What I am advising is developing a trading technique: a general set of rules and a trading concept. As you progress, you may want to put the different rules and indicators into a computerized system, but the most important factor is to have a focus and a plan. Don’t just wake up in the morning and trade “blank.”

3. Survival

This is the key! Do what you need to do in order to survive this brutal business and give yourself the chance of being here down the road with more experience and a better chance of success. Survival is probably the biggest key for beginning traders. There is a saying in this business: “live to trade another day.” It is so true!

READ THE REST AT:

https://www.cannontrading.com/tools/education-8-steps Continue reading “8 Steps to Successful Futures Day Trading February 2, 2011”

Futures Trading Levels and Economic Reports for January 26, 2011

Posted on January 26, 2011September 10, 2014 by Ilan

We should see volatile next 24 hours.

State of the Union tonight and tomorrow we have FOMC statement.

I shared the Dow Jones Cash index yesterday so i am providing an updated chart from today in which I actually got a potential sell signal.

As you can see we have a RED diamond appearing ahead of tomorrows open, the way I like to trade this signal is by entering on a stop, so in this case I will wait to see if Dow Jones Cash trades below today’s low at 11898 and only then I would have higher confidence to be short.

Below the chart, please review some notes i wrote for FOMC days:

SP-500-Day-Trading-2011-01-26 Continue reading “Futures Trading Levels and Economic Reports for January 26, 2011”

Futures Trading Levels and Economic Reports for January 25, 2011

Posted on January 25, 2011September 10, 2014 by Ilan

I wrote the following last Thursday as SP, NASDAQ and Russell 2000 were selling off a bit:”Last two days we saw the first meaningful price decline in more than a few good weeks.

Still we are not getting a confirmation from the Dow Jones index that this potential
I would like to see for a larger scale sell off. ”

So while I still think stock indices are over valued and due for a correction, I definitely don’t think it is wise to try and “predict tops and bottoms” and in this case it is trying to pick tops.

I rather wait for a good signal along with good risk/ reward set up.

The chart below if of the Dow Jones CASH INDEX (not the futures contract). I would take a shot at a short position if the cash can break below 11,862, otherwise it looks like the Dow may want to work its way towards the 12439. I use this technique of entering certain positions if prices break above or below certain levels as it gives me more confidence in market direction. I call it “Price Confirmation”

SP-500-Day-Trading-2011-01-25

Past results are not necessarily indicative of future results.
The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition. Continue reading “Futures Trading Levels and Economic Reports for January 25, 2011”