Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Thursday March 21, 2013
For 2013 I would like to wish all of you discipline and patience in your trading!
The markets’ reaction to today’s FOMC meeting was one of the most uneventful I have seen in a while.
Not much to share with you today, except a small point to ponder: What is one of the key differences between good day traders and bad day traders?
It is not the ability to win. Most of us know very well how to win and when your trading goes well, you’re in a rhythm and things flow nicely. Rather, it is the ability to accept a loss. It is the ability to understand that losses are part of trading. Along the same lines, you need to be aware that no one trade or one trading day makes you or breaks you. It’s much easier said then done but try to embed, accept and practice.
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.
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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 herein 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 judgment in tradin