{"id":14461,"date":"2018-08-08T12:20:14","date_gmt":"2018-08-08T20:20:14","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=14461"},"modified":"2018-08-08T12:23:18","modified_gmt":"2018-08-08T20:23:18","slug":"create-trading-rules-support-resistance-levels-8-9-2018","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/create-trading-rules-support-resistance-levels-8-9-2018\/","title":{"rendered":"Create Trading Rules + Support &#038; Resistance Levels 8.9.2018"},"content":{"rendered":"<p><em><b><span style=\"font-family: 'Georgia',serif; color: #333333;\">____________________________________________________________________<\/span><\/b><\/em><\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><em><b><span style=\"font-family: 'Georgia',serif; color: #333333;\">Voted #1 Blog and #1 Brokerage Services on\u00a0<a href=\"http:\/\/r20.rs6.net\/tn.jsp?f=001U36v1hvtg4O6nrUU85R1W6sfGPKX0ynnFA_D82LpdwBdzw7hFFBsXcDEWOPaVpkBRhG4iwIIEW8dl5sm-Zy6FHhgwdfYQHIB3uhsIL_ukid7tjqwraQ_BoF0xII0Paftq6h0c0xvDjjkGFYQaQXS_PzGm2ZRdaCn-W0INLJ9pmxzYrJ3TUyLrKnbAV5ra33oeleZTVoQEDQ=&amp;c=&amp;ch=\" target=\"_blank\" rel=\"noopener\">TraderPlanet\u00a0<\/a>for 2016!!\u00a0\u00a0<\/span><\/b><\/em><\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><em><b><span style=\"font-family: 'Georgia',serif; color: #333333;\">____________________________________________________________________<\/span><\/b><\/em><\/p>\n<p>Dear Traders,<\/p>\n<div align=\"left\">\n<div align=\"center\">\n<div align=\"center\">Like us on FaceBook!<\/div>\n<div align=\"center\"><a href=\"http:\/\/www.facebook.com\/CannonTrading\" target=\"_blank\" rel=\"noopener\" shape=\"rect\">www.facebook.com\/CannonTrading<\/a><\/div>\n<div align=\"center\"><\/div>\n<div align=\"center\">Get Real Time updates and\u00a0<a href=\"https:\/\/twitter.com\/CannonTrading\" target=\"_blank\" rel=\"noopener\" shape=\"rect\">market alerts on Twitter!<\/a><\/div>\n<div align=\"center\">\n<div><\/div>\n<\/div>\n<div align=\"left\">\n<div style=\"text-align: left;\" align=\"left\">\n<div align=\"center\">\n<div align=\"left\">\n<div align=\"left\"><\/div>\n<\/div>\n<div align=\"center\">\n<div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div><strong>Creating Trading Rules can help eliminate some of the emotions from trading when speaking of trading rules, I think there are two levels of the subject. One is in terms of general rules such as:<\/strong><\/div>\n<ul>\n<li>Only use risk capital<\/li>\n<li>Do not over trade<\/li>\n<li>Do not be greedy and many more of this nature<\/li>\n<\/ul>\n<div><strong>The other set of trading rules relate more to trading strategy perhaps even trade systems. In my opinion, the following are important trading rules when it comes to a trading strategy:<\/strong><\/div>\n<ol>\n<li>Know which markets you are trading<\/li>\n<li>Know how many markets you are trading at any one give time<\/li>\n<li>Know the time frame for your trading, i.e. Are you day trading or swing trading?<\/li>\n<\/ol>\n<div><strong>Once you answer the questions above you can get into even more specific rules. For the sake of educational purposes let&#8217;s assume the following:<\/strong><\/div>\n<ul>\n<li>We will focus on trading crude oil, mini Russell 200 and gold futures.<\/li>\n<li>We cannot be in more than 2 markets at any one given time.<\/li>\n<li>We are approaching trading as an intraday activity, so we will be in and out within the primary trading sessions that starts at 8:30 AM EST and ends at 4 PM EST<\/li>\n<\/ul>\n<div>Now that we know the answers for the first more general set of rules you need to decide and answer the questions below to create the following trading rules:<\/div>\n<ol>\n<li>When do we enter a trade?<\/li>\n<li>Quantity of contracts we will trade?<\/li>\n<li>Decide when to exit a trade when a trade is losing<\/li>\n<li>Decide rules for taking profits or exit targets.<\/li>\n<\/ol>\n<div><a href=\"https:\/\/www.cannontrading.com\/community\/newsletter\/Create-Trading-Rules-to-Help-trading-and-gold-futures-hit-major-resistance#one\" target=\"_blank\" rel=\"noopener\" shape=\"rect\">Please click here to read the rest of the article<\/a><\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><strong>Good Trading<\/strong><\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\">Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0 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.<\/p>\n<p><strong>Futures Trading Levels<\/strong><\/p>\n<p>08-09-2018<\/p>\n<p>&nbsp;<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Contract September 2018<\/td>\n<td colspan=\"1\" rowspan=\"1\">\u00a0SP500 #ES_F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Nasdaq100\u00a0 #NQ_F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Dow Jones\u00a0 #YM_F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Mini Russell #RTY_F<\/td>\n<td colspan=\"1\" rowspan=\"1\">BitCoin Index #XBT_F<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Resistance 3<\/td>\n<td colspan=\"1\" rowspan=\"1\">2871.00<\/td>\n<td colspan=\"1\" rowspan=\"1\">7551.17<\/td>\n<td colspan=\"1\" rowspan=\"1\">25721<\/td>\n<td colspan=\"1\" rowspan=\"1\">1709.97<\/td>\n<td colspan=\"1\" rowspan=\"1\">7366.32<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Resistance 2<\/td>\n<td colspan=\"1\" rowspan=\"1\">2866.75<\/td>\n<td colspan=\"1\" rowspan=\"1\">7523.58<\/td>\n<td colspan=\"1\" rowspan=\"1\">25676<\/td>\n<td colspan=\"1\" rowspan=\"1\">1701.13<\/td>\n<td colspan=\"1\" rowspan=\"1\">7080.50<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Resistance 1<\/td>\n<td colspan=\"1\" rowspan=\"1\">2861.50<\/td>\n<td colspan=\"1\" rowspan=\"1\">7497.67<\/td>\n<td colspan=\"1\" rowspan=\"1\">25608<\/td>\n<td colspan=\"1\" rowspan=\"1\">1694.27<\/td>\n<td colspan=\"1\" rowspan=\"1\">6698.67<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Pivot<\/td>\n<td colspan=\"1\" rowspan=\"1\">2857.25<\/td>\n<td colspan=\"1\" rowspan=\"1\">7470.08<\/td>\n<td colspan=\"1\" rowspan=\"1\">25563<\/td>\n<td colspan=\"1\" rowspan=\"1\">1685.43<\/td>\n<td colspan=\"1\" rowspan=\"1\">6412.85<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Support 1<\/td>\n<td colspan=\"1\" rowspan=\"1\">2852.00<\/td>\n<td colspan=\"1\" rowspan=\"1\">7444.17<\/td>\n<td colspan=\"1\" rowspan=\"1\">25495<\/td>\n<td colspan=\"1\" rowspan=\"1\">1678.57<\/td>\n<td colspan=\"1\" rowspan=\"1\">6031.02<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Support 2<\/td>\n<td colspan=\"1\" rowspan=\"1\">2847.75<\/td>\n<td colspan=\"1\" rowspan=\"1\">7416.58<\/td>\n<td colspan=\"1\" rowspan=\"1\">25450<\/td>\n<td colspan=\"1\" rowspan=\"1\">1669.73<\/td>\n<td colspan=\"1\" rowspan=\"1\">5745.20<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Support 3<\/td>\n<td colspan=\"1\" rowspan=\"1\">2842.50<\/td>\n<td colspan=\"1\" rowspan=\"1\">7390.67<\/td>\n<td colspan=\"1\" rowspan=\"1\">25382<\/td>\n<td colspan=\"1\" rowspan=\"1\">1662.87<\/td>\n<td colspan=\"1\" rowspan=\"1\">5363.37<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Contract<\/td>\n<td colspan=\"1\" rowspan=\"1\">December Gold #GC_F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Sept. Silver #SI-F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Sept. Crude Oil #CL-F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Sept.\u00a0 Bonds\u00a0 #ZB_F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Sept.\u00a0 Euro #6E_F<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Resistance 3<\/td>\n<td colspan=\"1\" rowspan=\"1\">1235.9<\/td>\n<td colspan=\"1\" rowspan=\"1\">15.69<\/td>\n<td colspan=\"1\" rowspan=\"1\">71.71<\/td>\n<td colspan=\"1\" rowspan=\"1\">143 16\/32<\/td>\n<td colspan=\"1\" rowspan=\"1\">1.1726<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Resistance 2<\/td>\n<td colspan=\"1\" rowspan=\"1\">1229.8<\/td>\n<td colspan=\"1\" rowspan=\"1\">15.58<\/td>\n<td colspan=\"1\" rowspan=\"1\">70.54<\/td>\n<td colspan=\"1\" rowspan=\"1\">143\u00a0 6\/32<\/td>\n<td colspan=\"1\" rowspan=\"1\">1.1694<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Resistance 1<\/td>\n<td colspan=\"1\" rowspan=\"1\">1225.7<\/td>\n<td colspan=\"1\" rowspan=\"1\">15.51<\/td>\n<td colspan=\"1\" rowspan=\"1\">68.66<\/td>\n<td colspan=\"1\" rowspan=\"1\">142 30\/32<\/td>\n<td colspan=\"1\" rowspan=\"1\">1.1670<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Pivot<\/td>\n<td colspan=\"1\" rowspan=\"1\">1219.6<\/td>\n<td colspan=\"1\" rowspan=\"1\">15.40<\/td>\n<td colspan=\"1\" rowspan=\"1\">67.49<\/td>\n<td colspan=\"1\" rowspan=\"1\">142 20\/32<\/td>\n<td colspan=\"1\" rowspan=\"1\">1.1638<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Support 1<\/td>\n<td colspan=\"1\" rowspan=\"1\">1215.5<\/td>\n<td colspan=\"1\" rowspan=\"1\">15.33<\/td>\n<td colspan=\"1\" rowspan=\"1\">65.61<\/td>\n<td colspan=\"1\" rowspan=\"1\">142 12\/32<\/td>\n<td colspan=\"1\" rowspan=\"1\">1.1614<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Support 2<\/td>\n<td colspan=\"1\" rowspan=\"1\">1209.4<\/td>\n<td colspan=\"1\" rowspan=\"1\">15.22<\/td>\n<td colspan=\"1\" rowspan=\"1\">64.44<\/td>\n<td colspan=\"1\" rowspan=\"1\">142\u00a0 2\/32<\/td>\n<td colspan=\"1\" rowspan=\"1\">1.1582<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Support 3<\/td>\n<td colspan=\"1\" rowspan=\"1\">1205.3<\/td>\n<td colspan=\"1\" rowspan=\"1\">15.15<\/td>\n<td colspan=\"1\" rowspan=\"1\">62.56<\/td>\n<td colspan=\"1\" rowspan=\"1\">141 26\/32<\/td>\n<td colspan=\"1\" rowspan=\"1\">1.1558<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Contract<\/td>\n<td colspan=\"1\" rowspan=\"1\">Dec.\u00a0 Corn #ZC_F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Sept. Wheat #ZW_F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Nov. Beans #ZS_F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Dec. SoyMeal #ZM_F<\/td>\n<td colspan=\"1\" rowspan=\"1\">Sept. Nat Gas #NG_F<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Resistance 3<\/td>\n<td colspan=\"1\" rowspan=\"1\">389.8<\/td>\n<td colspan=\"1\" rowspan=\"1\">590.7<\/td>\n<td colspan=\"1\" rowspan=\"1\">923.67<\/td>\n<td colspan=\"1\" rowspan=\"1\">347.10<\/td>\n<td colspan=\"1\" rowspan=\"1\">3.04<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Resistance 2<\/td>\n<td colspan=\"1\" rowspan=\"1\">388.7<\/td>\n<td colspan=\"1\" rowspan=\"1\">584.3<\/td>\n<td colspan=\"1\" rowspan=\"1\">918.83<\/td>\n<td colspan=\"1\" rowspan=\"1\">342.40<\/td>\n<td colspan=\"1\" rowspan=\"1\">2.99<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Resistance 1<\/td>\n<td colspan=\"1\" rowspan=\"1\">386.8<\/td>\n<td colspan=\"1\" rowspan=\"1\">577.2<\/td>\n<td colspan=\"1\" rowspan=\"1\">914.67<\/td>\n<td colspan=\"1\" rowspan=\"1\">339.90<\/td>\n<td colspan=\"1\" rowspan=\"1\">2.97<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Pivot<\/td>\n<td colspan=\"1\" rowspan=\"1\">385.7<\/td>\n<td colspan=\"1\" rowspan=\"1\">570.8<\/td>\n<td colspan=\"1\" rowspan=\"1\">909.83<\/td>\n<td colspan=\"1\" rowspan=\"1\">335.20<\/td>\n<td colspan=\"1\" rowspan=\"1\">2.93<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Support 1<\/td>\n<td colspan=\"1\" rowspan=\"1\">383.8<\/td>\n<td colspan=\"1\" rowspan=\"1\">563.7<\/td>\n<td colspan=\"1\" rowspan=\"1\">905.7<\/td>\n<td colspan=\"1\" rowspan=\"1\">332.7<\/td>\n<td colspan=\"1\" rowspan=\"1\">2.9<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Support 2<\/td>\n<td colspan=\"1\" rowspan=\"1\">382.7<\/td>\n<td colspan=\"1\" rowspan=\"1\">557.3<\/td>\n<td colspan=\"1\" rowspan=\"1\">900.83<\/td>\n<td colspan=\"1\" rowspan=\"1\">328.00<\/td>\n<td colspan=\"1\" rowspan=\"1\">2.86<\/td>\n<\/tr>\n<tr>\n<td colspan=\"1\" rowspan=\"1\">Support 3<\/td>\n<td colspan=\"1\" rowspan=\"1\">380.8<\/td>\n<td colspan=\"1\" rowspan=\"1\">550.2<\/td>\n<td colspan=\"1\" rowspan=\"1\">896.67<\/td>\n<td colspan=\"1\" rowspan=\"1\">325.50<\/td>\n<td colspan=\"1\" rowspan=\"1\">2.83<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Economic Reports, source:\u00a0<\/strong><\/p>\n<p><a href=\"https:\/\/app.bettertrader.com\" target=\"_blank\" rel=\"noopener\">https:\/\/app.bettertrader.com<\/a><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/mlsvc01-prod.s3.amazonaws.com\/3dc00ef7001\/0194aaa6-8fb8-48b0-82d3-1347d5c22e6f.png\" alt=\"\" title=\"\"><\/p>\n<p>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\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, 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\u00a0judgement\u00a0in trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>____________________________________________________________________ Voted #1 Blog and #1 Brokerage Services on\u00a0TraderPlanet\u00a0for 2016!!\u00a0\u00a0 ____________________________________________________________________ Dear Traders, Like us on FaceBook! www.facebook.com\/CannonTrading Get Real Time updates and\u00a0market alerts on Twitter! Creating Trading Rules can help eliminate some of the emotions from trading when speaking of trading rules, I think there are two levels of the subject. One is in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-14461","post","type-post","status-publish","format-standard","hentry","category-future-trading-news"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/14461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=14461"}],"version-history":[{"count":2,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/14461\/revisions"}],"predecessor-version":[{"id":14463,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/14461\/revisions\/14463"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=14461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=14461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=14461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}