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Trading Psychology from a Futures Broker 5.14.2015

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

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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 May 14, 2015

Hello Traders,

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

Hello Traders,

Today I must share an observation that may help many of you.

So many times as a broker I see clients who know how to make money…I see it in the daily statements, good winning %, consistent profits UNTIL….something happens. Either the client who is normally a day-trader decides to carry his/hers losing position and make it into a swing trade…..OR the trader is down and refuses to accept the fact it may be a losing day and decides to double down and get more aggressive because if this trade is a winner he will have another winning day….the examples go on and no I am not referring to anyone specific although many of you probably think I am talking about them.

I have done it before as a trader. It is the inability to accept a loss that creates this snow ball.

I am not a psychologist nor a professional writer ( English is my second language if you did not tell by now (-:

What I am hoping for is that by writing this I may help the “good voice” inside your head that tells you DONT double down OR just keep the stop win over that bad voice that is whispering to you to go ahead and reverse the position and double it when it is clearly not in your game plan…Trading is tough mentally, financially and emotionally, help yourself be a better trader by being a more disciplined trader.

 

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.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!


Futures Trading Levels

Contract June 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2118.17 4487.25 18211 1249.40 95.61
Resistance 2 2112.33 4472.50 18165 1243.70 95.14
Resistance 1 2103.17 4447.00 18088 1236.20 94.45
Pivot 2097.33 4432.25 18042 1230.50 93.98
Support 1 2088.17 4406.75 17965 1223.00 93.28
Support 2 2082.33 4392.00 17919 1217.30 92.81
Support 3 2073.17 4366.50 17842 1209.80 92.12
Contract June Gold July Silver June Crude Oil June Bonds June   Euro
Resistance 3 1253.2 18.18 63.15 156 28/32 1.1602
Resistance 2 1235.9 17.71 62.50 155 31/32 1.1494
Resistance 1 1225.1 17.42 61.32 154 5/32 1.1422
Pivot 1207.8 16.95 60.67 153 8/32 1.1314
Support 1 1197.0 16.67 59.49 151 14/32 1.1242
Support 2 1179.7 16.20 58.84 150 17/32 1.1134
Support 3 1168.9 15.91 57.66 148 23/32 1.1062
Contract July Corn July Wheat July Beans July SoyMeal June Nat Gas
Resistance 3 369.0 489.0 966.50 308.77 3.11
Resistance 2 365.8 487.5 963.75 307.13 3.04
Resistance 1 364.0 484.5 960.50 304.77 2.99
Pivot 360.8 483.0 957.75 303.13 2.92
Support 1 359.0 480.0 954.5 300.8 2.9
Support 2 355.8 478.5 951.75 299.13 2.81
Support 3 354.0 475.5 948.50 296.77 2.76
5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

 

Date 4:19pm Currency Impact Detail Actual Forecast Previous Graph
ThuMay 14 All Day EUR French Bank Holiday
All Day EUR German Bank Holiday
 8:30am USD PPI m/m 0.1% 0.2%
USD Unemployment Claims 272K 265K
USD Core PPI m/m 0.1% 0.2%
10:30am USD Natural Gas Storage 112B 76B
1:01pm USD 30-y Bond Auction 2.60|2.2

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 judgment in trading.

 

Tags: > > > Posted in: Commodity Trading   | Future Trading News   | Futures Trading  

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