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”
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.
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.
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.”
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”
A new month starting and below you will see my WEEKLY chart for the mini SP. I have sell set up in this market as well and if the short side pick speed, I would look for around 1230 and 1186 within the next few weeks. If i am wrong and the market breaks above 1300, I would play defense and wait for the next set up.
I wish you all a great trading month in February.
Continue reading “Futures Trading Levels and Economic Report for February 1, 2011”
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:
Continue reading “Futures Trading Levels and Economic Reports for January 26, 2011”
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”
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”
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.
Below you will see a daily chart of the mini NASDAQ 100 contract along with some potential levels.
Continue reading “Futures Trading Levels and Economic Reports for January 21, 2011”
Great articles about trading psychology on our weekly newsletter at:
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https://www.cannontrading.com/community/newsletter/
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I think every trader should read these articles and the new ones to folow next week. Continue reading “Futures Trading Levels and Weekly Newsletter, January 20, 2011”
Below is a screen shot from the daily service I hold, called NAZLAN live charts or as some know it, daily webinar.
I think the term live charts is a better description for the service being offered, which you can have a free trial to until Jan. 28th, EVEN if you have had one before.
Sign up at: https://www.cannontrading.com/tools/intraday-futures-trading-signals
Every day around 8:30 AM central, I send an invite code where one can log in and view my live screen that includes 3 charts. Mini SP500, euro currency futures and crude oil futures. The charts include a few set ups that I like to use for intra-day trading along with some notes and general observations of the market for that day.
The corner stone of the charts is the “DIAMOND algorithm” I developed over the last couple of years, which I explain in details during the sessions and that I personally found as one leading indicator that gives me confidence to take certain day-trading set ups. The screen shot from todays webinar may provide a visual for what I just wrote above….
Upper left corner is small image of Euro currency chart, lower left is of the Crude oil and large right is of the mini SP 500. Actual size during the live service is much larger…..
After the free trail, if you decide to subscribe, the cost of the service for CANNON trading clients is $119 per month and for non CANNON trading clients, the cost is $299 per month.
*** 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.
In no event should the content of this newsletter be construed as an express or implied promise, guarantee or implication by or from, Cannon Trading or it’s affiliates, that you will profit or that losses can or will be limited in any manner whatsoever. Continue reading “Futures Trading Levels and Economic Reports for January 19, 2011”
Wishing a nice long MLK weekend!
Trading hours at: http://www.cmegroup.com/tools-information/holiday-calendar/files/2011-martin-luther-king.pdf
Our office is closed Monday but our night desk is open Sunday night and Monday night. Continue reading “Futures Trading Levels and Economic Reports for January 18, 2011”
Market is still locked in a range….so far in 2011, the March SP500 been trading between 1255 and 1277….My feeling is that by Thursday we should break out one way or the other as the market awaits some economic reports and earnings are being released.
In between, you are welcome to check out our “Live Charts” service which I run daily.
Subscribers get a daily invitation to view my charts ( sample from todays session below). I share my charts, notes, set ups, trade philosophy and more for the mini SP, crude oil and Euro currency markets. For 2 week free trial (no repeat trials), please visit:
https://www.cannontrading.com/tools/intraday-futures-trading-signals
There is a substantial risk of loss in trading commodity futures, options and off-exchange foreign currency products.
Past performance is not indicative of future results. Continue reading “Futures Trading Levels and Economic Reports for January 12, 2011”