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Excellent, short article by yours truly…..
Trading Futures: 5 Big Mistakes Beginners Should Avoid Making
Trading futures is a tough business, but if you are one of the very few that can succeed, this could be a very lucrative business as well
Ilan Levy-Mayer| June 27, 2017 |
I have seen quite a bit since I became a broker in 1998. Some war stories to share about the markets, some crazy moves and much more in between. I was trading futures with clients on the sad Sept. 11th 2001 day when the planes hit and the markets were plunging before they were closed for almost a week. I witnessed the meat contracts making limit up and limit down moves over the years and much more…..
As a commodity broker I have observed MANY traders, many of them were new traders, and this allows me to share with you some valuable observations I hope will help you start your futures trading journey on a much smoother road than most.
Here are the FIVE CRUCIAL MISTAKES you need to avoid!
Good Trading
Futures Trading Levels
6-29-2017
| Contract September 2017 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2474.50 | 5940.58 | 21640 | 1462.40 | 96.80 |
| Resistance 2 | 2457.50 | 5852.67 | 21533 | 1445.10 | 96.56 |
| Resistance 1 | 2447.75 | 5807.83 | 21468 | 1435.60 | 96.15 |
| Pivot | 2430.75 | 5719.92 | 21361 | 1418.30 | 95.91 |
| Support 1 | 2421.00 | 5675.08 | 21296 | 1408.80 | 95.50 |
| Support 2 | 2404.00 | 5587.17 | 21189 | 1391.50 | 95.26 |
| Support 3 | 2394.25 | 5542.33 | 21124 | 1382.00 | 94.85 |
| Contract | August Gold | July Silver | August Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1264.0 | 17.08 | 46.50 | 156 23/32 | 1.1567 |
| Resistance 2 | 1259.9 | 16.96 | 45.70 | 156 7/32 | 1.1504 |
| Resistance 1 | 1255.0 | 16.87 | 45.27 | 155 20/32 | 1.1467 |
| Pivot | 1250.9 | 16.74 | 44.47 | 155 4/32 | 1.1404 |
| Support 1 | 1246.0 | 16.65 | 44.04 | 154 17/32 | 1.1367 |
| Support 2 | 1241.9 | 16.53 | 43.24 | 154 1/32 | 1.1304 |
| Support 3 | 1237.0 | 16.44 | 42.81 | 153 14/32 | 1.1267 |
| Contract | Sept. Corn | Sept. Wheat | November Beans | July SoyMeal | July Nat Gas |
| Resistance 3 | 361.3 | 483.3 | 923.50 | 297.23 | 3.18 |
| Resistance 2 | 360.4 | 479.2 | 920.50 | 296.47 | 3.15 |
| Resistance 1 | 358.6 | 476.1 | 917.25 | 295.53 | 3.11 |
| Pivot | 357.7 | 471.9 | 914.25 | 294.77 | 3.08 |
| Support 1 | 355.8 | 468.8 | 911.0 | 293.8 | 3.0 |
| Support 2 | 354.9 | 464.7 | 908.00 | 293.07 | 3.01 |
| Support 3 | 353.1 | 461.6 | 904.75 | 292.13 | 2.97 |
Economic Reports, source:
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.