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E-Futures Breaking News

7 Steps to Successful Day-Trading Futures: A Broker's Perspective

Reports and Expiration Notices

January 24th, 2007 — Issue #363

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7 Steps to Successful Day-Trading Futures: A Broker's Perspective

I came up with the following personal observations after servicing global online traders for more than 9 years. Keep in mind that some of these steps can be switched around as far as order. Some of these steps are always required and that each one of you is different and may relate to different stages in different ways.

  1. Education – Hopefully, if you are already trading you have done this part as far as initial education: contract specs, trading hours, brokers, platforms, risks & opportunities in futures etc. The second type of education is constant in nature and relates to trading techniques, the evolvement of markets, diff. trading tools etc.
  2. Find a System - I am definitely not advising you to go on the web and subscribe to a "black box” system (buy/sell triggers that you don't know why they are being generated). What I am advising, is a trading technique, general set of rules, trading concept etc. As you progress you may put the different rules and indicators into a computerized system, but you don't necessarily have to as long as have a trading approach/system and you not just coming in the morning "blank".
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Disclaimer:

Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results. This is not a solicitation of any order to buy or sell, but a current futures 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!

Economic Reports and Expiration Notices

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
01/25
Thu
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly
9:00 AM CST - Existing Home Sales(Dec)
9:00 AM CST - Help Wanted Index(Dec)
9:30 AM CST - EIA Gas Storage
3:30 PM CST - Money Supply
LT: Jan Feeder Cattle(CME)
Jan Feeder Cattle Options(CME)
Feb Silver Options(CMX)
Feb Gold Options(CMX)
01/26
Fri
7:30 AM CST - Dairy Products Prices
7:30 AM CST - Adv Durable Orders(Dec)
9:00 AM CST - New Home Sales(Dec)
2:00 PM CST - Cattle On Feed
LT: Feb Natural Gas Options(NYM)
Feb Heating Oil Options(NYM)
Feb Reformulated Blend Options(NYM)
Feb 10yr,5yr,2yr Notes Options(CBT)
01/29
Mon

 
 
 
LT: Jan Platinum(NYM)
Jan Palladium(NYM)
Jan Gold(CBT & CMX)
Jan Silver(CBT & CMX)
Feb Natural Gas(NYM)
01/30
Tue
9:00 AM CST - Consumer Confidence(Jan)
 
 
 
FN: Feb Natural Gas(NYM)
LT: Jan Hang Sang
Jan Hang Sang Options
 
01/31
Wed
7:30 AM CST - GDP-Adv(Q4)
7:30 AM CST - Chain Deflator-Adv(Q4)
7:30 AM CST - Employment Cost Index(Q4)
9:00 AM CST - Construction Spending(Dec)
9:30 AM CST - API & DOE Energy Stats
1:15 PM CST - FOMC Policy Statement
LT: Feb Heating Oil(NYM)
Feb Reformulated Blend(NYM)
FN: Feb Gold(CMX & CBT)
Feb Ethanol(CBT)
02/01
Thu
7:30 AM CST - Personal Income & Spending(Dec)
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly
9:00 AM CST - ISM Index(Jan)
9:30 AM CST - EIA Gas Storage
3:30 PM CST - Money Supply
Auto & Truck Sales

 
 
 

* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.

** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.

*** 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!