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Top 5 Mistakes Traders Make & Trading Levels 7.06.2017

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

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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!

Read the 5 Mistakes….

Good Trading

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.

Futures Trading Levels

7-06-2017

Contract September 2017  SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2447.08 5800.42 21606 1435.97 96.68
Resistance 2 2439.67 5734.08 21540 1429.43 96.47
Resistance 1 2434.08 5692.92 21481 1424.07 96.25
Pivot 2426.67 5626.58 21415 1417.53 96.04
Support 1 2421.08 5585.42 21356 1412.17 95.82
Support 2 2413.67 5519.08 21290 1405.63 95.61
Support 3 2408.08 5477.92 21231 1400.27 95.39
Contract August Gold Sept. Silver August Crude Oil Sept.  Bonds Sept.  Euro
Resistance 3 1242.4 16.54 49.02 154 20/32 1.1486
Resistance 2 1235.4 16.36 48.17 154  6/32 1.1454
Resistance 1 1230.5 16.20 46.61 153 26/32 1.1420
Pivot 1223.5 16.02 45.76 153 12/32 1.1388
Support 1 1218.6 15.86 44.20 153 1.1355
Support 2 1211.6 15.68 43.35 152 18/32 1.1323
Support 3 1206.7 15.52 41.79 152  6/32 1.1289
Contract Sept.  Corn Sept. Wheat November Beans Aug. SoyMeal Aug. Nat Gas
Resistance 3 404.8 615.2 1017.25 333.40 3.16
Resistance 2 399.5 594.8 1007.25 330.60 3.09
Resistance 1 395.8 577.4 1000.75 328.10 2.97
Pivot 390.5 557.1 990.75 325.30 2.90
Support 1 386.8 539.7 984.3 322.8 2.8
Support 2 381.5 519.3 974.25 320.00 2.71
Support 3 377.8 501.9 967.75 317.50 2.59

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.

Tags: > > Posted in: Future Trading News  

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