RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Daily Futures Trading Update

Market Trend Advice from a Senior Market Strategist

Posted 10/02/2017 9:34AM CT | Laura Taylor

If you have read any of my past blogs, you know that I don’t generally give specific market advice like buy here or sell there. I prefer to educate the trader on how to manage money, protect a position, and share other common sense rules that will keep you around for the next trade. I am sure you have heard this one before, “the trend is your friend.” Counter trend traders can have success on a short-term basis using key support and resistance numbers. But what makes the counter trend trader successful is to know when to surrender to the trend. I am sorry to be repetitive, but the first thing to do after entering a new position is to place a stop loss. How much are you willing to risk on the trade? At what point will you surrender to the trend? Remember the market is always right. You have to be able to swallow a loss without it leaving a bitter taste in your mouth. If you do not protect your position and if you cannot face the fact that you are wrong the market, you will become like a deer in the headlights, staying with the loss so long that you miss other market opportunities. I have been witness to too many traders who refuse to exit a loss until the market forces them out. Be in control of your own destiny by setting your parameters from the beginning and sticking to your plan. 

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Laura Taylor

Senior Market Strategist
Laura began her career in the financial industry in 1981. In 1985 Laura and some former colleagues developed and organized a new IB division at Index Futures Group. With a partner, she named the division (Brokers Resource Corp.), developed the client base and supervised a staff that serviced guaranteed and non-guaranteed IBs located across the country. She developed the in-house procedures manual and conducted on-site compliance audits. I was also one of the original co-founders of the National IB Association (NIBA) and hosted the very first NIBA conference in Chicago. After Index Futures Group sold their IB division Laura stayed on to manage the new accounts department as vice president of operations and then became their director of compliance. In 1996, as part of ED&F Man, Laura decided to venture into a new role in the commodity industry by putting her AP license to work by developing a client base as a commodities broker. Laura joined RJO Futures in 2011 where she enjoys being a senior commodities broker assisting clients with their trading decisions, the execution of their trades and specializing in automated trading for newsletter and hotline subscribers.
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