1. Beliefs

By Janice Dorn, M.D., Ph.D.

Janice Dorn, M.D., Ph.D. is a Financial Psychiatrist and Financial Futurist. Dr. Janice Dorn is believed to be the only Ph.D. (Brain Anatomist) and M.D. (Board-Certified Psychiatrist and Addiction Psychiatrist) in the world who actively trades, writes commentary on the financial markets and coaches fellow traders. Dr. Dorn has been trading the gold futures markets full time since 1993. She has written over 2000 articles on trader and investor psychology, and coached over 600 traders.

If you must play, decide on three things at the start: the rules of the game, the stakes, and the quitting time… Chinese Proverb

We trade to make money. Almost without exception, every person who enters the markets does so because of the promise of making his or her life better through buying and selling in the financial markets. Many come to the markets because of the lure of easy money and the availability of this or that system, method, software, trading technique, seminar, infomercial or tempting e-mail. Never in the history of mankind has it been easier for people to tap into the markets. Tens of thousands visualize themselves sitting in their pajamas, making trades from home and earning a really good living. Moreover, trading goes on all over the world and people can buy and sell at almost any time of the day or night. What’s not to like about this? How easy can this be?

At their core, trading and investing are simple. The challenge is that they are not easy. Trading is unlike any other activity that a human being experiences. The reason for this is that the markets are open, adaptive systems that are always in motion. Other than the regulations set by the exchanges, there are very few rules. Trading is a game where we make our own rules and strive to take money from other people before they take our money. This is serious business, because it is our hard-earned money that we put at risk every time we enter a position. There is almost no way, short of very complex hedging strategies, to put money into the markets without putting it into the realm of risk.

Why do so many traders fail? Why are so many called and so few chosen? There are several main reasons for this, but the fundamental one centers around belief systems. When you think about it, the market is pretty much a level playing field. Everyone has access to similar information, charting systems, and trading platforms. For a price, you can get just about anything you think you need in terms of trading. The two things you really need to be successful are...

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2. Jim Wyckoff's Hot Market - E-Mini Dow Futures

Stock Index Bulls Enter 2012 With Upside Technical Momentum

The Dow stock index futures are in a good price uptrend from the October low and recently hit a fresh five-month high. The U.S. stock indexes are starting out 2012 in overall technically bullish postures, which does bode well for them for the entire year.

Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at Jim Wyckoff

3. Economic Calendar

Source: Moore Research Center, Inc.

Date	Reports	Expiration & Notice Dates
1/06 Fri	7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Dairy Products Prices 7:30 AM CST - Nonfarm Payrolls(Dec) 7:30 AM CST - Unemployment Rate(Dec) 7:30 AM CST - Ave Workweek & Hourly Earnings(Dec)	LT: Jan US Dollar Index Options(ICE)
1/09 Mon	2:00 PM CST - Consumer Credit(Nov)
1/10 Tues	9:00 AM CST - Wholesale Inventories(Nov)
1/11 Wed	6:00 AM CST - MBA Mortgage Purchase Index 9:30 AM CST - API & DOE Energy Stats 1:00 PM CST - Fed's Beige Book(Jan)
1/12 Thurs	7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - WASDE Report 7:30 AM CST - Crop Production & Annual 7:30 AM CST - Winter Wheat Seedings 7:30 AM CST - Grain Stocks 7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - Retail Sales(Dec) 9:00 AM CST - Business Inventories(Nov) 9:30 AM CST - EIA Gas Storage 1:00 PM CST - Treasury Budget(Dec) 3:30 PM CST - Money Supply
1/13 Fri	7:30 AM CST - Dairy Products Prices 7:30 AM CST - Export & Import Prices(Dec) 7:30 AM CST - Trade Balance(Nov) 8:55 AM CST - Mich Sentiment(Jan)	LT: Jan Rough Rice(CBT) Jan Soybeans(CBT) Jan Soybean Meal(CBT) Jan Soybean Oil(CBT)
1/16 Mon	MARTIN LUTHER KING JR DAY	LT: Jan Eurodollar(CME)
1/17 Tue	2:00 PM CST - Consumer Credit(Nov)
1/18 Wed	6:00 AM CST - MBA Mortgage Purchase Index 7:30 AM CST - Core PPI & PPI(Dec) 8:00 AM CST - Net Long-Term TIC Flows(Nov) 8:15 AM CST - Capacity Util & Industrial Prod(Dec) 9:00 AM CST - NAHB Housing Market Index(Jan)
1/19 Thur	7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - Building Permits & Housing Starts(Dec) 7:30 AM CST - Core CPI & CPI(Dec) 9:00 AM CST - Philadelphia Fed(Jan) 9:30 AM CST - EIA Gas Storage 10:00 AM CST - API & DOE Energy Stats 3:30 PM CST - Money Supply

* 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!