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Tag: futures trading

Accept a losing day and you will increase your winning ratio…..11.16.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday November 16, 2016

Greetings!

So I was trying to think of a valuable advice I can provide you as volatility increased quite a bit the last few weeks and I think it will remain higher than average for a while as we are facing quite a bit of uncertainty. This is what I came up with:

So many times as a broker I see clients who know how to make money…I see it in the daily statements, good winning %, and consistent profits UNTIL….something happens.

Either the client who is normally a day-trader decides to carry his/hers losing position and make it into a swing trade…..OR the trader is down and refuses to accept the fact it may be a losing day and decides to double down and get more aggressive because if this trade is a winner he will have another winning day….the examples go on and no I am not referring to anyone specific although many of you probably think I am talking about them.

I have done it before as a trader. It is the inability to accept a loss that creates this snow ball.

I am not a psychologist nor a professional writer (English is my second language if you did not tell by now (-:

What I am hoping for is that by writing this I may help the “good voice” inside your head that tells you DONT double down OR just keep the stop, win over that bad voice that is whispering to you to go ahead and reverse the position and double it when it is clearly not in your game plan…Trading is tough mentally, financially and emotionally, help yourself be a better trader by being a more disciplined trader.

Last but not least, do NOT enter a trade with the thought of let me get in and see how it goes…Risk levels, potential targets, game plan…should all be there BEFORE you enter the trade! Continue reading “Accept a losing day and you will increase your winning ratio…..11.16.2016”

No Trade is Better Than a Bad Trade 11.10.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday November 10, 2016

Greetings!

Wow! What a volatile 24 hours we had across many markets. Mini Nasdaq limit down at one time, Mexican Peso down 11% at one point, bonds saw a 6 point swing, Dow had a range of over1100 points!! This one will definitely go down in the history books of trading….

What’s next?

Expect volatility and uncertainty to remain although not to this extent. Go back in your notes, research some volatile trading periods and adjust your trading accordingly and last but not least, remember that “No trade is better than a BAD trade”.

Continue reading “No Trade is Better Than a Bad Trade 11.10.2016”

FOMC tomorrow 11.02.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday November 2, 2016

Greetings!

BIG day tomorrow!

FOMC meeting along with ADP employment report earlier in the day and crude oil numbers…

Be aware of the reports, know your strengths and weaknesses and decide if you should be trading during these reports or not.

refer back to notes from your ( hopefully ) trading journal and stay disciplined and consistent. No trade is better than a bad trade!

Here are some notes I share before every FOMC day….

_____________________________________________________________________

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

The following are suggestions on trading during FOMC days:

  • Reduce trading size
  • Be extra picky = no trade is better than a bad trade
  • Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 2105.00 with a stop at 2099.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2099.75 and place a stop a few points below in this hypothetical example.
  • Expect the higher volatility during and right after the announcement
  • Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Know what the market was expecting, learn what came out and observe market reaction for clues
  • Be patient and be disciplined

Continue reading “FOMC tomorrow 11.02.2016”

Daily Chart of the mini Dow Jones 10.14.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday October 14, 2016

Greetings!

Check out our Top Performing Trading Systems!

With recent volatility in Stock Indices, I am including a daily chart of the Mini Dow Jones.

Mini Dow Jones Daily Chart

Continue reading “Daily Chart of the mini Dow Jones 10.14.2016”

Be Disciplined, Be Consistent in Your Trading! 9.20.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday September 20, 2016

Greetings!

Front month for stock indices (e-minis) is December.
Front month for metals is December.
Front month for currencies is December.
Front month for natural gas and crude oil / energies is November. Be consistent with your trading decision…if you have rules make sure you follow them and fight that bad voice inside that makes you deviate, usually when in a losing trade! Discipline and consistency are sometimes more important than the question of should I buy or should I sell…

Trade with confidence, Trade with a plan, Trade with discipline!

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Check out our trading systems results! Continue reading “Be Disciplined, Be Consistent in Your Trading! 9.20.2016”

Volatility is back in the Futures Markets 9.14.2016

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday September 14, 2016

Greetings!

Front month for stock indices is December!!

Looks like volatility is back…usually it will stay for a while so time to adjust your trading strategy you were using in June, July and August and expand it to the higher volatility.

This may mean looking for larger target profits, using wider stops, perhaps smaller trade size, perhaps being “picky” with your entry level etc.

If you need help, feel like chatting markets or getting feedback  – we are here!

Continue reading “Volatility is back in the Futures Markets 9.14.2016”

Day Trading Mind Traps 9.08.2016

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday September 8, 2016

Hello Traders,

Greetings!

Didn’t have anything of added value to share today so instead I am sharing a timeless article we published a couple of years ago about Day Trading Mind Traps!

Trading Day After Labor Day 9.06.2016

Posted on by Ilan

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wedneday September 7, 2016

Hello Traders,

Greetings!

It’s the day after Labor Day and we saw some big moves in the metals, stock indices still are trading in relatively low volatility.  As I mentioned before, it’s not a question of if but a question of when and what will cause higher volatility. Be flexible and ready to adapt to changing market conditions.

Continue reading “Trading Day After Labor Day 9.06.2016”

Behavior of Markets Last Trading Day of the Month 8.31.2016

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday August 31, 2016

Hello Traders,

Greetings!

December bonds are now front month for those of you trading bonds, ten years etc.!

December silver and December gold are also the front month!

Tomorrow is the last trading day of the month. Certain markets will experience certain trading behavior on the last trading day of the month.

Bonds are known to make some sharp moves right around 1:30 Central time ( 30 minutes before what used to be the pit close)

Here is a bond chart from last month’s last trading day….Pay attention to the WIDE range during the whole day and the large moves in the last hour!
Bond Chart July 31st 2016

Also tomorrow is Wednesday. Crude Oil numbers come out.

Here is what Crude did last week….1 minute chart right before and after report came out…
Crude 1 Minute Chart

Keep a trading journal! Write notes.

Continue reading “Behavior of Markets Last Trading Day of the Month 8.31.2016”

Check Out Two Futures Trading Systems Live Results! 8.30.2016

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday August 30, 2016

Hello Traders,

Greetings!

December bonds are now front month for those of you trading bonds, ten years etc.!

August is almost over…..and it has been a pretty low energy month as far as trading is concerned. Between summer vacations in the US and Europe and the fact that markets got tired from the extreme BREXIT volatility…August was a very low energy trading month with low volatility. Volatility comes and goes in cycles and the  longer the period of low volatility is, the bigger the moves that will follow when some Geo Political event finally shakes the markets….so be ready!

On a different note, check out the live results on the following two trading systems which can be traded with as low as $5,000 per system!! Feel free to reach out to your cannon contact with any question or if you need help evaluating the trade systems below:

MJ Crude system

MJ Mini Russell system

Continue reading “Check Out Two Futures Trading Systems Live Results! 8.30.2016”

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.