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Tag: futures contract

Futures Trading Levels, Types of Trading Days

Posted on by Ilan

Cannon Trading / E-Futures.com

The following is taken from a guide I have written that helps subscribers to my daily chart service. You can have a 2 week free trial to the daily live charts service along with buy/sell triggers and get the full guide along with chart examples, rules and much more by signing up at:

Cannon Trading Inc. Day Trading Webinar

General Notes:
At any given day, one must understand the trading environment that specific day has to offer and adjust their trading style accordingly. In our case it relates more to the size of stops and target based on volatility. Some days the market gives us many opportunities; some not as much; and some days it provides us with mostly risks…….take what the market gives you and not what you want it to give…..

I think if a trader understands early enough what type of trading day it is, he or she can choose which tools from the webinar are most suited for that days trading. If one can do that successfully (which is not easy), I think that is half the battle.

Not taking a trade is better than a bad trade.

My opinion is that there are 3 main types of trading days.

  1. Most common is two sided trading action with swings up and down – this type of trading day is most suitable for the main aspect of this model, which is taking trades based on the arrows.
  2. Strong trending day, mostly one directional – this type of trading day is the least common, many times this will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using the color scheme I have on the charts. Green bars mean strong up trend, red bars mean strong down trend. If you determined that this is a trend day, then use pull backs to enter with the direction of trend and use the parabolic (little dashes) as you trailing stop.
  3. Slow and/ or choppy trading day – this type of trading day is best suited for taking small profits from the market by either using the main model or taking the diamonds as entry signal, and going for quick profits and tight stops.

Continue reading “Futures Trading Levels, Types of Trading Days”

Futures Trading Levels Feb 28th and Crude Oil Futures Chart

Posted on by Ilan

Cannon Trading / E-Futures.com

Wishing you all a great weekend. Amazing how fast short February went by and Monday will be the last trading day of the month.

I expect the higher volatility we have seen over the last few days to stay with us for a while….so as mentioned before be aware of it, adjust your trading parameters accordingly and stay disciplined!

Below you will see a screen shot from the crude oil futures chart I share intraday. We also execute this crude day-trading system in-house as an “auto traded ” trading system with letter of direction.

The day-trading system is up slightly more than $1,000 NET per contract traded since we launched live trading on Jan. 28th 2011.*
*These are risky markets and only risk capital should be used.

Past performances are not necessarily indicative of future results.
If you are interested in more information, would like to see detailed LIVE results, please send me an email or speak with your broker.

Daily E-Mini S&P 500 Futures Trading Chart

Stock futures trading chart levels Continue reading “Futures Trading Levels Feb 28th and Crude Oil Futures Chart”

Futures Trading Levels and Economic Reports for February 18, 2011

Posted on by Ilan

Daily chart of crude oil for your review below:

S&P500 daily trading levels February 18

Life After Mini SP – Day Trading Crude Oil Futures “Buying the Fear, Selling the Greed”

Join us for a Webinar on February 23

Space is limited.
Reserve Your Webinar Seat Now at: https://www2.gotomeeting.com/register/477215826 Continue reading “Futures Trading Levels and Economic Reports for February 18, 2011”

Futures Trading Charts, February 16, 2011

Posted on by Ilan

Low volume on the Mini SP 500 today.

That should change tomorrow with a variety of economic reports due.

Daily chart of Mini Russell 2000 for your review below:

S&P500 daily trading levels Tuesday February 16 Continue reading “Futures Trading Charts, February 16, 2011”

Futures Trading Levels and Economic Reports for February 11, 2011

Posted on by Ilan

I like the way tomorow’s date looks like …2-11-11 so decided to share a MONTHLY chart of the SP 500 index, more for “fun”, “change” than anything specific…

SP-500-Day-Trading-2011-02-11.png Continue reading “Futures Trading Levels and Economic Reports for February 11, 2011”

Futures Trading Levels and Economic Reports for February 10, 2011

Posted on by Ilan

Good article to read on our weekly newsletter:

https://www.cannontrading.com/community/newsletter/ Continue reading “Futures Trading Levels and Economic Reports for February 10, 2011”

Futures Trading Levels and Economic Reports for February 9, 2011

Posted on by Ilan

Trading is SO MUCH MENTAL once you have a concept you believe in, have confidence in. After that there is a lot of psychological work….

Some examples:

  1. Ability to take losses and know not every trade will be a winner and not every day will be a winner

  2. Ability to stay patient and NOT feel that if you are NOT trading, you are NOT doing your job….

  3. The confidence to stay in winning trades and the discipline to get out of losing trades

  4. Allowing trades some time to work

  5. Not getting down on yourself for “could have should have etc”

  6. Understandings that sometimes, you can do everything right and still have a losing trade. It is simply part of trading.

  7. Being a hard worker and keeping a journal after certain trading days. Being  a hard worker in putting time and effort learning new approaches, set ups before deciding if its worthy or not. I WILL SAVE THIS LITTLE LIST AND ADD TO IT AS DAYS PROGRESS. Continue reading “Futures Trading Levels and Economic Reports for February 9, 2011”

Futures Trading Levels and Economic Reports for January 8, 2011

Posted on 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 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”

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.