Cannon Futures Weekly Newsletter Issue # 1133
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In this issue:
- Trading Resource of the Week – FREE Trading Psychology Course
- Hot Market of the Week – Cotton Futures
- Trading Levels for Next Week
- Trading Reports for Next Week
“You Must Understand That There Is More Than One Path To The Top Of The Mountain.”- Miyamoto Musashi, A Book Of Five Rings: The Classic Guide To Strategy
Many experienced traders say that the stiffest challenge you’ll face in becoming a futures trader is conquering your own psyche. Why? Because losing is part of trading, and people hate to lose.
Whether you’re a day trader, a position trader, a spread trader, or an option trader, some of the mental challenges and the questions to go with them are constant:
- How to examine your patterns and behaviors and recognize when they are holding you back
- Maintaining self-confidence as a trader even in the face of inexperience
- The mathematical expectation model and how it can decrease your losses
- Determining the trading plan that is right for your trading personality
- Understanding and using Motivation – Risk – Reward to its full advantage
- Creating effective trading technique strategies
- Qualities of Successful Traders
Hot market of the week is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
PriceCounts – Not about where we’ve been , but where we might be going next!
developed upside PriceCount objective off the fall lows and been trending higher since. Now the market is taking a shot at the first price objective of 89 cents. It is a normal pattern to see a correction or consolidation if upside PriceCount objective is met.
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation
with a Cannon Trading Company series 3 broker.
Trading Levels for Next Week
Daily Levels for February 6th, 2022
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
Trading Reports for Next Week
First Notice (FN), Last trading (LT) Days for the Week:
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 trading
Tags: #cbot > #comex > #commoditiesmarket > #commoditiestrader > #commoditytrading > #crudeoil > #daytrader > #futuresmarket > #futurestrader > #kcbt > #mgex > #nymex > #smfe > #stockindices > #swingtrader > CME > commodities > daytrading > futures > Globex > gold
Posted in: Commodity Trading | Day Trading | Grain Futures | Weekly Newsletter