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Tag: futures trading

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

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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 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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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

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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 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”

Trading Futures Using Fear and Greed 8.23.2016

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 23, 2016

Hello Traders,

Greetings!

Trading 201: Day Trading Using fear and greed ( using Crude Oil futures as an example)

Crude Oil Futures volatility offers a “different market personality” than stock index futures. Here is some of the things you need to know about day trading crude oil futures:
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP

Crude Oil is one of MY favorite futures markets for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications ofCrude Oil Futures.

Crude Oil Futures have monthly expirations. So each month we trade a different contract month, so one needs to know when the first notice day and last trading day for crude oil futures are, in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into a delivery situation.

Next is the contract size. Crude Oil futures are based on 1000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.

Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013 ( I wrote this one a while back but the examples and logic are still very current!) , crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.

Continue reading “Trading Futures Using Fear and Greed 8.23.2016”

Take Profits or Wait for Home Run? 8.16.2016

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 16, 2016

Hello Traders,

Greetings!

Do I hold on for the “big winner” or take small profits?

To start with, this is a good problem…this means you are taking some winning trades. The answer is not a simple yes or no.

One must have a combination of both smaller, consistent winners. Also a few “runners” large profit trades, regardless if you are day trading, position trading or swing trading.

Some traders solve the problem by breaking their trading size into more than just 1 unit.

Entering Multiple Contracts: Philosophy

I think that entering multiple contracts does 3 good things for you…

Reduces fear…

Reduces greed…

And gives you a chance to hang in there for the large winners or what I call a “runner”….

Continue reading “Take Profits or Wait for Home Run? 8.16.2016”

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.