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Tag: Trading Futures

Walk before you Run!! – Trading Futures 6.21.2017

Posted on by Ilan

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!! 

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Walk before you run

By Cannon Trading staff

The image of a successful futures trader is that of a lone wolf surveying the landscape looking for an opportunity to attack and seize quick and substantial profits. We all know about the potential for making a fortune in the futures markets. Yet, few do so. Why is that? What are some of the common pitfalls that prevent this dream from becoming a reality for most futures traders? Continue reading “Walk before you Run!! – Trading Futures 6.21.2017”

Mental Stops? – Trading Futures 8.25.2016

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 Thursday August 25, 2016

Hello Traders,

Greetings!

Mental Stops…..

Every so often I hear clients tell me, ” they don’t use hard stops…they use mental stops”

While the mental stop idea can work 8 out of 10 times, the 1-2 times it does not work will wipe out your account.

Try using mental stops when you were trading crude yesterday and all of a sudden news about Iran looking to comply with production hit the market and market went up over 80 cents in few minutes…

or maybe you had a mental stop on long gold early this morning when all of a sudden in a few minutes gold dropped $14 per contract.

I have seen it happen before with the SP and other stock indices, I have seen it happen in all markets I watch and trade at one time. it’s not a question if, but rather when. Big moves happened and will happen. Not every day, not in every market at the same time but they will happen in all markets at one given time or another.

So unless you have unlimited amounts of risk capital and/ or crystal ball-  use hard stops in the system OR learn how to hedge your positions using options and weekly options.

Continue reading “Mental Stops? – Trading Futures 8.25.2016”

Walk Before You Run When Trading Futures 1.05.2016

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 January 5, 2016

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Voted #1 futures trading blog!

Hope everyone had a great holiday season and some time off with family and friends. I wish all of you the best in trading in 2016 specifically and in all aspects of life in general.

Great article to start your trading in 2016:

Walk before you run

By Cannon Trading staff

The image of a successful futures trader is that of a lone wolf surveying the landscape looking for an opportunity to attack and seize quick and substantial profits. We all know about the potential for making a fortune in the futures markets. Yet, few do so. Why is that? What are some of the common pitfalls that prevent this dream from becoming a reality for most traders?

One of the most prevalent misconceptions for inexperienced traders is that they believe themselves to be smarter than the rest of the market participants. They under estimate the qualifications and abilities of the rest of the futures markets professionals. This business of trading is dominated by very dedicated, resourceful professionals who have invested lots of time and assets into their pursuit of trading profits. Competing against these seasoned professionals is not impossible but going it alone, especially initially, is usually not the most prudent course of action for new traders.

Continue reading “Walk Before You Run When Trading Futures 1.05.2016”

Volatility returns to Energy and Metal Futures; Economic Reports and Levels 9.03.2014

Posted on by Ilan

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

It seems that both volume and volatility came back from the long weekend…

BIG moves in energy and metals sector along with improved range and volume in stock indices.

I suspect this will continue the rest of this week with more reports ahead including Friday’s monthly employment levels.

Something my colleague mentioned to me today reminded me how “unnatural” trading can be for the human mind….As we are executing some trading systems on behalf of clients here at Cannon, one of the trading systems is a breakout system which caught the big sell off today in Crude, heating oil and gold ….( this is by no means to say that this system does this every day or anything of the sort but simply to provide an example of the following….): As the markets were moving in the direction the system wanted , my colleague mentioned, ” wish we could take profits now…” and it reminded me of one of the basic mistakes we all do. Taking profits too early and letting losses ride too long…The system which we execute under a letter of direction, ended up making quite a bit more by riding the trend rather than “taking profits now”  and while this is not to imply that this happens all the time, my opinion is that many traders , day traders and long term traders take out profits too quickly and stay in losers too long. The reason? Our human mind wants to see the profits as “ours”, i.e closed profits so we can know for sure this was a win….vise versa on the losing side…we refuse to close losses  because as long as the trade is open we have a chance for it to reverse, once we close it, it is a done deal, it is a closed losing trade….

So the point of the story is, that many times while trading we need to fight the urge to do what feels comfortable and rather do what we researched and believed produce results over time (assuming you do have a method/concept you researched and believed in…..)

Wishing you a great trading month ahead!

 

 

Keeping a Futures Trading Journal, Economic Reports & Levels 8.28.2014

Posted on by Ilan

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

The EXTREMELY low volume today ( as well as last few days…) made me go look in my trading journal where sure enough I wrote down that the week before Labor Day is usually lower volume and a good time to take some days off….( too bad I did not schedule some vacation time LOL)
The point of the story is that keeping a trading journal has MANY ADVANTAGES….and I highly recommend it.

I keep notes on the following:

  • different methods I test
  • Market behavior during different economic reports
  • Things I did well, mental state of mind
  • Mistakes I have made, the reasons I did and how I can try to avoid these mistakes
  • Different indicators, chart settings, ideas I read about
  • Different codes I created for my charts
  • Much more…

Many times the journal will help me put closure on a bad day but more so it helps keep track of work I have done so I don’t have to do it again.

 

Try it. It is not easy, especially after bad days….it takes time, energy and consistency – just like trading. I keep mine on a word doc so I can easily access it ( plus my hand writing is terrible). Hope this tip helps and wishing you good trading!
PS: About low volatility and volume, its a cycle and times of much higher volume and volatility are proably very near…. Continue reading “Keeping a Futures Trading Journal, Economic Reports & Levels 8.28.2014”

Futures Mini Indices Volume and Mini S&P Chart 4.22.2014

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 April 22, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

Extremely light volume in the markets today as Europe was still on a holiday. Volume in the mini SP contract was about 35% of the average normal daily volume as of lately. I suspect that both market participants and volatility should return tomorrow from the Easter holiday.

Daily chart of the mini SP for your review below:

805

Continue reading “Futures Mini Indices Volume and Mini S&P Chart 4.22.2014”

Setting Daily Profit Target and Money Management for Futures Trading 4.10.2014

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 Thursday April 10, 2014


Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

I wrote a good article a few years back about day trading money management and one of my points was that it is my personal opinion that if a day trader sets a daily target profit and walks away when he or she achieves that target, they will fare better in the long run.

I might be wrong but think about it, if you are trading a $10,000 account and have a daily profit target of $500. How many times were you there intraday? Would your account equity be in a better shape now if you walked away each day when you made $500 ( in addition to implementing a daily stop level?)

The profit level will be different for each trader based on account size, trading style, aggressiveness level etc. but from talking with many different clients and observing many different clients I think that setting daily profit  AND daily money management will help most traders financially as well as emotionally.

If you want to read the full article and you are a client, simply email me your name and account number and i will email the PDF to you. If you are a prospect, please share with me your trading experience and software you are using and I will be happy to email it to you as well.

Continue reading “Setting Daily Profit Target and Money Management for Futures Trading 4.10.2014”

Futures Levels & Economic Reports 3.26.2014

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 March 26, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

The importance of a positive state of mind when trading….is HUGE….
I have seen it when helping clients, interacting with online clients and most of all with myself.
When I let the market or surrounding elements take me out of my focus and allow frustration to take control, the results can be dangerous….an example might be getting stopped out on a short crude trade at the high of the day just to see the market reverses fast and strong….A client may get frustrated because of margin calls or other issues.
It may even be elements outside of trading, such as family, phone calls or just feeling stressed for non trading related issues.
The result of all of the above ends up being poor decision making, trading with frustration, low thresh hold for mistakes and much more.
What is the solution? I do not have one but recognizing that you are trading with the wrong frame of mind or frustration is a good first step. Taking a small break from the screen and putting things in a bigger perspective is a good second step. Deep breaths and a quick time out never hurt anyone either…..

Hope that by sharing this I may help you the next time frustration is about to take over….. Continue reading “Futures Levels & Economic Reports 3.26.2014”

Futures Levels & Economic Reports for 1.14.2014

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 January 14, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

I need your help!

I have gotten and getting great feedback from many of you and would appreciate if you can take a couple of seconds to vote at:

 

777

 

Educational Feature: Dealing With Losing Trades

(Note: This feature is a favorite of mine, and I believe all traders need to address this issue every once in a while.)

A main tenet of success in futures trading is the ability to accept losing trades as part of the overall trading process. This is not an easy undertaking–especially since many futures traders tend to be of a more competitive nature in the first place. Traders certainly don’t have to enjoy losing trades, but they must accept the fact and move on. Those who can’t accept the fact that losing trades are a part of futures trading usually don’t stay in the business very long.

My wife is a school teacher, and one of her favorite acronyms–ADM–can be applied to losing futures trades. “Accept” it. “Deal” with it. “Move” on. (This is a part of the important psychological aspect of trading, and deserves much more discussion than I can provide in this feature.)

I had lunch with one of my trading mentors a while back. We discussed losing trades. I asked my mentor how many losing trades in a row he has had to endure during his long and successful trading career. His reply was 13 in a row. I asked him how he coped with that. He said that while it was certainly not easy, he knew that losing trades are a part of the business and that he was in the business “for the long haul,” and that his trading methodology was sound. He added, “Ninety-percent of futures trading profits are made on 10% of the trades, which means most of the other trades are either small losers or break-even-type trades.” This is an important fact for all traders to keep in mind.

My lunch meeting with my mentor was good for me because, even though we made no “break-through” discoveries on the path to increased futures trading success, we did reaffirm our own philosophies on trading and markets. My passion for trading and market analysis is fed immensely every time I talk with people in my profession, or attend the quality trading seminars.

For many of you, the futures trading arena can be more fulfilling (and more fun) if you have someone, or some support group, with which to share your thoughts and strategies. If you are passionate about futures trading and markets, finding someone who shares that passion is a great trading tool within itself!

That’s it for now. Next time, we’ll discuss another important issue on your path to trading success.

Continue reading “Futures Levels & Economic Reports for 1.14.2014”

STAR AWARDS – Trading Levels & Economic Reports for 12.03.2013

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 December 3, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

I was informed Friday that our blog is being nominated for the STAR award by traderplanet.com which is very nice to hear and know that the work and amount of time we put into it is not going unnoticed!

I have gotten and getting great feedback from many of you and would appreciate if you can take a couple of seconds to vote at:

http://www.traderplanet.com/l/WEd

Trader Planet Award

Continue reading “STAR AWARDS – Trading Levels & Economic Reports for 12.03.2013”

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.