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Top 50 Trading Rules + Levels & Economic Reports for October 24th 2017

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

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Dear Traders,

Most Common Pitfalls To Avoid When Trading Futures-Commodity Futures

500 experienced futures brokers were asked what caused most futures traders to lose money when comes to trading futures.

Their answers reflected the trading experience of more than 10,000 futures traders.  Download the PDF and find out what they said.

  1. Have a Plan

Many futures traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they overtrade and use their equity to the limit (are undercapitalized), which puts them in a squeeze and forces them to liquidate positions. Usually, they liquidate the good trades and keep the bad ones.

  1. News Factor

Many traders don’t realize the news they hear and read has, in many cases, already been discounted by the market.

  1. Trade Objectively

After several profitable trades, many speculators become wild and nonconservative. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that “can’t fail.”

  1. Know Your Size

Traders often try to carry too big a position with too little capital and trade too frequently for the size of the account.

  1. Don’t Get Greedy when it comes to Trading Futures

Some traders try to “beat the market” by day trading, nervous scalping, and getting greedy.

Read the rest of the 50 rules…

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

10-24-2017

Contract December 2017  SP500 Nasdaq100 Dow Jones Mini Russell BitCoin Index
Resistance 3 2588.08 6175.33 23385 1524.57 6694.24
Resistance 2 2582.67 6151.67 23352 1518.83 6430.22
Resistance 1 2572.83 6107.83 23288 1508.07 6200.13
Pivot 2567.42 6084.17 23255 1502.33 5936.11
Support 1 2557.58 6040.33 23191 1491.57 5706.02
Support 2 2552.17 6016.67 23158 1485.83 5442.00
Support 3 2542.33 5972.83 23094 1475.07 5211.91
Contract December Gold Dec. Silver Dec. Crude Oil Dec.  Bonds Dec.  Euro
Resistance 3 1298.5 17.46 52.87 153  8/32 1.1862
Resistance 2 1291.6 17.30 52.58 152 30/32 1.1837
Resistance 1 1287.4 17.20 52.25 152 21/32 1.1809
Pivot 1280.5 17.04 51.96 152 11/32 1.1784
Support 1 1276.3 16.94 51.63 152  2/32 1.1757
Support 2 1269.4 16.78 51.34 151 24/32 1.1732
Support 3 1265.2 16.68 51.01 151 15/32 1.1704
Contract Dec.  Corn Dec. Wheat November Beans Dec. SoyMeal Nov. Nat Gas
Resistance 3 363.1 456.6 991.75 320.43 3.08
Resistance 2 357.4 447.4 987.25 319.17 3.05
Resistance 1 354.3 442.1 984.00 317.53 3.01
Pivot 348.7 432.9 979.50 316.27 2.98
Support 1 345.6 427.6 976.3 314.6 2.9
Support 2 339.9 418.4 971.75 313.37 2.91
Support 3 336.8 413.1 968.50 311.73 2.87

Economic Reports, source: 

http://app.bettertrader.co

Economic Reports - Tuesday, October 24th 2017

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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