{"id":15218,"date":"2019-10-28T12:16:28","date_gmt":"2019-10-28T20:16:28","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=15218"},"modified":"2019-10-30T09:32:38","modified_gmt":"2019-10-30T17:32:38","slug":"trade-management-tips-trading-levels-10-29-2019","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/trade-management-tips-trading-levels-10-29-2019\/","title":{"rendered":"Trade Management Tips and Trading Levels 10-29-2019"},"content":{"rendered":"

_________________________________________________<\/span><\/b><\/em><\/p>\n

Voted #1 Blog and #1 Brokerage Services on\u00a0TraderPlanet\u00a0<\/a>for 2016!!\u00a0\u00a0<\/span><\/b><\/em><\/p>\n

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Dear Traders,<\/p>\n

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I have done this so many times before, my colleagues tell me when it happens to them as well as some of my clients\u2026.You have the perfect read on the market. The market actually ends up doing what you thought it would and in a BIG way\u2026yet somehow you managed to LOSE money despite your perfect analysis. To me this is sometimes more frustrating than having a bad losing day.<\/div>\n
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What happened?<\/div>\n
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Poor trade management, that\u2019s what happened.<\/div>\n
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Yes, reading the market well is a much needed quality if you plan on making money rather than contributing donations to the market but more important is how you manage the trade \/ position once you read the market. Much easier said than done, especially after the fact but here are some tips that I am hoping will assist you in the next time you have a good market read.<\/div>\n
By the way, the reason to this quick trading tidbit is the stock market rally we saw today in stock indices. Both my colleague and I \u201chad the right analysis\u201d on this possible rally yet he managed to lose and get stopped out twice while I took a small piece of the rally BUT not nearly as much as I should have\u2026.<\/div>\n
1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0You don\u2019t have a crystal ball. To think you can buy an ES contract in this volatility and use a 2 point stop in hopes of making 20 points profit is a very low probability event\u2026you would need to buy it at the PEREFECT time for this to happen.\u00a0Point is, with higher volatility you need to use WIDER stops to give yourself a chance. That may mean using SMALLER trade size.<\/div>\n
2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0If you are able to, share your read with another trader, it may provide you with a better perspective just by sharing.<\/div>\n
3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0If you think there is room for a big move or what we call a \u201crunner\u201d\u00a0– be prepared to for the pullbacks. Use multiple time frames to gain a better perspective and hang in there for the big move, if this is what you think can happen.<\/div>\n
4.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0If you have enough risk capital, try to use multiple contracts, example buying 2 rather than 1. Taking profit on the first part of the position will help you relax and look at what the market is really telling you rather than what you would like it to say. It helps reduce both the fear and the greed.<\/div>\n
5.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u201cPlan your trade, trade your plan\u201d<\/div>\n
Again these are just some short pointers, written quickly after today\u2019s session in hopes of helping you when you face a similar situation.<\/div>\n<\/div>\n
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Good Trading<\/strong><\/p>\n

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

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Futures Trading Levels<\/strong><\/p>\n

10-29-2019<\/p>\n

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<\/a>
\n<\/a>Economic Reports, source:\u00a0<\/strong><\/p>\n

bettertrader.co<\/a><\/p>\n

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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\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":"

_________________________________________________ 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! I have done this so many times before, my colleagues tell me when it happens to them as well as some of my clients\u2026.You have the perfect read on […]<\/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-15218","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\/15218","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=15218"}],"version-history":[{"count":3,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/15218\/revisions"}],"predecessor-version":[{"id":15233,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/15218\/revisions\/15233"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=15218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=15218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=15218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}