{"id":3413,"date":"2012-04-12T21:29:28","date_gmt":"2012-04-13T05:29:28","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=3413"},"modified":"2017-06-13T05:37:58","modified_gmt":"2017-06-13T13:37:58","slug":"coping-with-losses-as-a-futures-day-trader-support-and-resistance-levels","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/coping-with-losses-as-a-futures-day-trader-support-and-resistance-levels\/","title":{"rendered":"Coping With Losses As A Futures Day Trader | Support and Resistance Levels"},"content":{"rendered":"

Jump to a section in this post:<\/span>
\n1. Market Commentary<\/a><\/strong>
\n2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000<\/a><\/strong>
\n3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds<\/a><\/strong>
\n4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver<\/a><\/strong>
\n5. Economic Report for Thursday April 13, 2012<\/a><\/strong><\/p>\n

 <\/p>\n

Hello Traders<\/p>\n

Only one tip to share with you today….if you having a bad day as a daytrader, make sure it does NOT “kill” you and that you are disciplined enough to limit your losses. This way you still have risk capital in the account to be there for the good days. However, one mistake I keep seeing from traders ( mostly new traders ) is the inability to TAKE losses. Especially on a day like today where stock index kept going up, I saw too many traders try to counter trend ( which is a type of daytrading approach) but I did not see the risk mechanism in their trades, i.e “how much am I willing to risk”? That can end up being a day where one can lose 70% + of your account value and then you are left with no ammunition for the following trading day.<\/strong><\/span><\/p>\n

NO ONE HAS 100% winning record. You will have losing days, it is part of the game. Learn to control your losing days and you will have better chances of surviving and being there for better trading days.<\/span><\/strong><\/p>\n

<\/p>\n

GOOD TRADING!<\/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. 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.<\/small><\/p>\n

<\/a>2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000<\/strong><\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
Contract (June 2012)<\/td>\nSP500
\n(big & Mini)<\/td>\n		Nasdaq100
\n(big & Mini)<\/td>\n		Dow Jones
\n(big & Mini)<\/td>\n		Mini Russell<\/td>\n<\/tr>\n<\/thead>\n
Resistance 3<\/td>\n1407.90<\/td>\n2781.33<\/td>\n13162<\/td>\n828.00<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1395.95<\/td>\n2760.67<\/td>\n13048<\/td>\n818.00<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1389.60<\/td>\n2748.33<\/td>\n12992<\/td>\n811.60<\/td>\n<\/tr>\n
Pivot<\/td>\n1377.65<\/td>\n2727.67<\/td>\n12878<\/td>\n801.60<\/td>\n<\/tr>\n
Support 1<\/td>\n1371.30<\/td>\n2715.33<\/td>\n12822<\/td>\n795.20<\/td>\n<\/tr>\n
Support 2<\/td>\n1359.35<\/td>\n2694.67<\/td>\n12708<\/td>\n785.20<\/td>\n<\/tr>\n
Support 3<\/td>\n1353.00<\/td>\n2682.33<\/td>\n12652<\/td>\n778.80<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/a>3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds<\/strong><\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
Contract<\/td>\nJune Gold<\/td>\nJune Euro<\/td>\nMay Crude Oil<\/td>\nJune Bonds<\/td>\n<\/tr>\n<\/thead>\n
Resistance 3<\/td>\n1718.7<\/td>\n1.3350<\/td>\n106.33<\/td>\n141 29\/32<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1700.0<\/td>\n1.3284<\/td>\n105.28<\/td>\n141 15\/32<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1688.4<\/td>\n1.3238<\/td>\n104.48<\/td>\n140 29\/32<\/td>\n<\/tr>\n
Pivot<\/td>\n1669.7<\/td>\n1.3172<\/td>\n103.43<\/td>\n140 15\/32<\/td>\n<\/tr>\n
Support 1<\/td>\n1658.1<\/td>\n1.3126<\/td>\n102.63<\/td>\n139 29\/32<\/td>\n<\/tr>\n
Support 2<\/td>\n1639.4<\/td>\n1.3060<\/td>\n101.58<\/td>\n139 15\/32<\/td>\n<\/tr>\n
Support 3<\/td>\n1627.8<\/td>\n1.3014<\/td>\n100.78<\/td>\n138 29\/32<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/a>4. Support & Resistance Levels for Corn, Wheat, Beans and Silver<\/strong><\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
Contract<\/td>\nMay Corn<\/td>\nMay Wheat<\/td>\nMay Beans<\/td>\nMay Silver<\/td>\n<\/tr>\n<\/thead>\n
Resistance 3<\/td>\n648.3<\/td>\n648.2<\/td>\n1460.67<\/td>\n3397.0<\/td>\n<\/tr>\n
Resistance 2<\/td>\n646.2<\/td>\n645.1<\/td>\n1452.33<\/td>\n3327.5<\/td>\n<\/tr>\n
Resistance 1<\/td>\n641.8<\/td>\n642.2<\/td>\n1446.67<\/td>\n3281.0<\/td>\n<\/tr>\n
Pivot<\/td>\n639.7<\/td>\n639.1<\/td>\n1438.33<\/td>\n3211.5<\/td>\n<\/tr>\n
Support 1<\/td>\n635.3<\/td>\n636.2<\/td>\n1432.7<\/td>\n3165.0<\/td>\n<\/tr>\n
Support 2<\/td>\n633.2<\/td>\n633.1<\/td>\n1424.33<\/td>\n3095.5<\/td>\n<\/tr>\n
Support 3<\/td>\n628.8<\/td>\n630.2<\/td>\n1418.67<\/td>\n3049.0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\"\"
\n<\/a><\/p>\n

5. Economic Reports<\/h3>\n

2:00am EUR
\nGerman Final CPI m\/m
\n<\/strong><\/p>\n

4:00am EUR
\nItalian Industrial Production m\/m
\n<\/strong><\/p>\n

8:00am USD
\nFOMC Member Dudley Speaks
\n<\/strong><\/p>\n

8:30am USD
\nCore CPI m\/m
\n<\/strong><\/p>\n

8:30am USD
\nCPI m\/m<\/strong><\/p>\n

8:30am USD
\nTrade Balance<\/strong><\/p>\n

9:55am USD
\nPrelim UoM Consumer Sentiment
\n<\/strong><\/p>\n

9:55am USD
\nPrelim UoM Inflation Expectations
\n<\/strong><\/p>\n

1:00pm USD
\nFed Chairman Bernanke Speaks<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Jump to a section in this post: 1. Market Commentary 2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000 3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds 4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver 5. Economic Report for Thursday April 13, 2012 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[149,134,602],"class_list":["post-3413","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","tag-commodity-futures-broker","tag-futures-trading-brokers","tag-futures-trading-online"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/3413","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=3413"}],"version-history":[{"count":8,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/3413\/revisions"}],"predecessor-version":[{"id":12548,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/3413\/revisions\/12548"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=3413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=3413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=3413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}