INDEPENDENT. OBJECTIVE. RELIABLE.

HOW TO GUIDE

10 RULES FOR
TECHNICAL
FUTURES TRADING
BY BRIAN CULLEN
HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

Introduction
Years ago, my high school baseball coach told me something very important. He
would say, Keep it simple, stupid! when working with me on my swing. Shift your
weight forward, swing your hips through and bring your hands steady through the
zone. Dont overthink it or make it more complicated than that, Cullen. Repeat,
repeat, repeat. Coach Donahue loved the K.I.S.S. method and drilled it into my head
every day. I still refer to it 30 years later.

K.I.S.S. The same goes for looking at the markets and trading chart formations. Brian Cullen
While indicator packages have been around for years, true technical analysis and Senior Market Strategist

the foundation that its built on have remained tried and true. Hindsight is 20/20. (866) 928-3319 Toll-Free
Systems that show you what you should have done, or how well you would have (312) 706-7629 Local
(312) 706-7529 Fax
done, are worthless to most traders.
@BrianCullen8
Your job as a trader is to read the charts, recognize the formation taking place
and pinpoint your entry and exit points based on what you know and what you
have learned. The primary goal for any serious trader? To put yourself in a position
to participate if and when price action dictates it. You need to know when theres
action to be takenand how to take it.

Simplicity is the key to consistent results. In my newsletter youll find

straightforward, easy-to-understand trade ideas. There are chart formations in
The Formation Finder, an early look at the day ahead with The Pre-Dawn Targeting
emails and trade recommendations throughout the week in The Cullen Outlook. I
make it accessible to everyone that follows along and my goal is for these set-ups
to be repeatable across all markets.

My day starts at 3:45 in the morning. I have my computers fired up and Im

scanning charts by 4:15. I like to have an idea of what the day has in store and where
my focus will be by the time I get to the office. One of the first things I do is look for
any trendlines that could get tested over the next few days. Some mornings there
will be a Pre-Dawn Update sent out before I leave. After a short drive to the train
station and a 45-minute train ride, Im in the office by 6:45 ready to go. If theres
a formation that needs to be sent out, it gets to you by 8. At the end of my day, Ill
take one last look through the markets and jot down any notes for the next day.
Sometimes Ill send out an email for Markets To Consider for those looking at the
next days activity as well.

I eat, sleep and breathe charts. I know charts and I can help you.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

So what are you looking for?

Ive helped a wide range of clients learn how to think like a technical trader:

Broker-assisted clients aspiring to black-belt status learn a lot working

one-on-one with me.

Self-directed clients gain access to my ideas and use them confidently in

trading on their own terms.

Clients looking for some of both get the best of both worlds.

Youll find 10 K.I.S.S. Rules throughout this guide, along with many Broker Tips
that you can use in your trading.

For some of the chart images, I use continuation charts from FutureSource. For others, I
used our flagship trading platform, dt Pro.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

Lets start with trendlines.

These are one of my favorite tools and theyre the first indicator technical
traders learn. Its easy to learn the principles and theyre easy to use. Basically, you
look for spots on a chart where the market seems to find support or resistance.

BROKER TIP
Trendlines are the base for many of the set-ups and formations that grab my The next time price
attention and guide my eyes every day. These include support and resistance levels, action approaches
uptrends, downtrends, pennants and flags to name a few. So lets take a close look that level, look to
participate on the
at them and see how I use them and how I incorporate them into my newsletter,
next possible reversal
The Cullen Outlook. (either a bounce or
retracement).

Look for spots on a chart where the market seems to find support or resistance and look to
participate on next move.

4
HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

When I see a trendline that has some potential, Ill set some price alarms and look
to recommend entering the market accordingly. This is when you will see an email
come out with a heads-up about this trendline and a possible trade idea.

Trendlines with multiple holds always grab my attention for taking action!

BROKER TIP
The more times
a market holds a
trendline, the stronger
this trendline is
perceived to be. So
pay attention to any
and all trendlines with
multiple holds.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

DT Pro Charting

I rely heavily on all the indicators and drawing tools that dt Pro offers to pinpoint my levels.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

Here is a snapshot of the Price Alert function on dt Pro, our flagship trading
platform. This tool is a must-have to keep all markets on your radar. I personally
use this feature every daymore than anything else in my arsenal. It lets you keep
notes to remind yourself what you were looking at and how you wanted to proceed.
This is especially helpful if you track multiple markets.

Having notes left for myself when price targets are reached allows me to plan particular trade
ideas in advance (and not forget my thought process) while following other markets as well.

The way I look at it is simple. Everyone that looks at the markets technically is
looking at the same trendlines that I amthat we areand is eager to get involved.
Its fair to assume that there will be some buying or selling when markets approach
these areas. This anticipatory trading is what keeps trendlines going. That said, I
recommend trading these set-ups accordingly and look for clients to get involved
at the levels that I have pinpointed. Self-directed traders are free to enter on
their own, while broker-assisted clients can call to further discuss the trade idea.

BROKER TIP
If you do not want to buy as we approach that trendlinelooking for immediate support or resistanceand
would like to play a bit more conservatively, take a look at this idea. I recommend to some traders that they
wait for the market to hold that trendline before getting involved. This way you can get the added confidence
of seeing the price action youre looking forfor example, buying after the market bounces off support or just
after it is turned away at the retracement level.

Now for the K.I.S.S. Rules

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

K.I.S.S. Rule 1
Stop-loss orders on trendline trades go directly above or below that trendline.

Either way you choose to trade it, look to put your stop just above or below the
trendline depending on your risk tolerance. Remember the K.I.S.S. rule. Keep It
Simple with your risk and your objective.

Look to trade trendline bounces and retracements by using the trendline to your advantage for
stop placements.

There is a flip side to this. Not every trendline holds and they cannot last forever. In
this case, it is not that simple.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

Which leads me to the next favorite set-up to get involved in --

the TRENDLINE BREAK.

There will be times that trendlines will not hold and the market will break.

Trendlines are great to trade when they are holding support or resistance. But they
can be even more powerful if that support or resistance fails . This is another great
way to use them for trade ideaswhen they BREAK!

Importantwhen trendlines fail or break two things happen:

1. Traders who have been participating in the trendline move will look to exit
their positions due to this trendline fail. So there will be an influx of traders
looking to GET OUT of the market.

2. In addition to these exiting orders, there will be new traders looking for
an opportunity to participate in a possible move lower off of this break.
This market action brings another influx of traders that COME INTO the
market. This can heighten the move and push prices even further away
from the trendline.

Trendline breaks can be very powerful

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

and with them comes opportunity!

10
Learn to see what the chart is telling you.
Recognize what you see. Know how to proceed.
See how Brian can help you recognize opportunity.
Get The Cullen Outlook.
HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

I like to test different indicators on different charts and see how they fit my trading style.
With dt Pro, the indicator store gives me hundreds of choices.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

K.I.S.S. Rule 2
Make sure that the move is real and avoid the fake-out.

Look to sell any break of a support trendline on the first day AFTER the market
CLOSES above or below the trendline that was broken. You may see markets
penetrate trendlines only to close back onside the trendline hence nullifying the
break. This is why many traders will wait to enter once the market closes outside.

There will come a day when trendlines fail. Be prepared and ready to take action!

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

On dt Pro, the ability to save my indicators and drawings on the charts saves me so much time. I
can come back to it at a later date and not have to put indicators back on or or re-add important
drawings.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

K.I.S.S. 3
Old support becomes new resistance. Old resistance becomes new support.

If there were one formation that I thought didnt get enough attention, it would be
this one. I highly recommend you add it to your arsenal if you do not already look for
these formations. When looking at the commodities markets, one big fundamental
is supply vs. demand. You can see this on the charts and through daily price action .
Supply and demand is in the charts!

For an example, see the cocoa chart below.

Youll see the two levels of resistance near 3020 in blue. After a sustained three-
month rally, the bulls get exhausted and the selling pressure comes in. Where does
the market find support? The same 3020 area in green. Heres something important
to note: If you look even closer, there is almost a mirror-image pullback and double-
bottom put-in at this level.

If there was one formation that I thought didnt get enough attention, it would be
Support vs Resistance.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

K.I.S.S. Rule 4
Read supply and demand through the charts.

This simplifies how you process all of the data affecting the overall marketand
how its reflected in price action.

1. When you notice supply take over, the market most likely will trade lower as
it breaks through demand support.

2. As demand recovers and it squeezes supplies, the market will most likely
trade higher through supply resistance. As these levels meant something in
the pastthey were pivotalthey wont be easily forgotten by the markets.
Look for them to come into play again.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

BROKER TIP
(See charts below) Look for markets that are approaching old support to face some resistance. If this level
holds, resistance is met and the market begins to trade lower, this is where Ill look for an entry to the
downside. My risk will be just above that old support level, and vice versa on any old resistance levels. Look
for support and a possible buying opportunity.

Use market price action to your advantage. If there is a level of resistance that you would like to
trade, once that level fails to hold, GET OUT!!!

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

and vice versa for trading levels of support. The stop order goes directly under that congestion.

BEAR FLAG:

Sometimes a trending market needs to take a breather. When this happens youll
find yourself staring at the formations of either a BEAR FLAG or the BULL FLAG.
Lets take a look at both.

Bear flags form in a downtrending market and have an upward tilt. Basically, as the
market trades lower, youll find times when the continued selling is temporarily met
with an influx of buying support. This causes the market to actually start to carve
out a bottom and it appears we are setting up for a rally, and we do for a short
time. Then the sellers take back control of the markets, the downward pressure
picks back up and the bearish price action continues lower.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

So how do you play this formation if you see this set-up forming? Short answer
Patiently!

Here are two things to do and look for.

1. If you are not participating in any of the upward move, the key is to be
patient. Wait for the bottom trendline of the flag to be broken.

2. Once it closes outside of this flag, below the trendline, it can be an

opportunity to sell the market. Ill typically put stop orders just back above
the lower trendline and back inside the flag for my risk levels.

Look to get short on any break out of Bear Flags to the downside. Stop orders would go be a close
back above the bottom trendline.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

BULL FLAG:

Bull flags form in an uptrending market and have a downward tilt. If you understand
the mechanics of a BEAR FLAG, then its just the opposite for the BULL FLAG.

Look to get involved in the continued longer-term uptrend when the sagging price
action breaks back ABOVE the top trendline of the flag.

Look to get long on any break out of Bull Flags to the upside. Stop orders would go be a close back
below the upper trendline.

20
 You may not scan the markets every day looking
for technical set-ups and chart formations. But I do.
See how Brian can help you see what others miss with
The Cullen Outlook.
HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

K.I.S.S. Rule 5
Forecast a level and look for it.

To pinpoint an objective for any anticipated move out of a flag, try this simple
equation and set your sights accordingly.

Take the length of the leg that occurred before the flag formed, and add it to the
breakout point of the flag.

There are no guarantees. But many analysts will look for these same levels as an
estimate.

Take a look at what I mean:

Bonus question: Can you spot where the old resistance becomes new support
on the chart below?

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

There it is! You already know more than you think!

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

K.I.S.S. Rule 6
When the market approaches areas of indecision, consolidation occurs and
pennants will form.

Much like flags, these formations generally occur after a sharp rise or fall in the
market. Theyll take both up trendlines and down trendlinesand put them to the
test. The chart formation will show you that over time buyers and sellers alternate
taking control of the market squeezing the price action into a corner. Trading volume
will usually leave the market as the range gets closer and closer. BROKER TIP
It is very important
that these flags and
pennants come on the
heels of a strong up or
down move. Without
the sharp incline or
decline in the market,
these formations do
not carry as much
power.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

Look to get involved on the day after the market closes outside of the pennant!

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

dt Pro charts:

With dt Pro, the ability to trade directly off the charts is a game changer! If you see something
while studying the charts, you can enter your trades while staring at your levels! Enter the market
or move stops with the click/drag of the mouse.

So how do you take advantage of these set-ups?

1. Be patient. Wait for the price action to break out of the pennant, either
higher or lower.

2. On the day it breaks out and closes outside of the pennant, look to get
involved in that direction on the next day.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

K.I.S.S. Rule 7
Be part of the incoming volume and trade the breakout.

This is important: Generally there will be a heavy influx of volume into the market
once this breakout occurs. Traders tend to step aside as the market coils up, but
they return to get involved in the subsequent move.

This heavy influx of volume is what tends to drive the market away from the pennant
very quickly. Take a look at the pennant that happens to be forming right now as of
this writing.

BROKER TIP
What would be a good objective level to look for? Similar to a breakout of a bear or bull flag, (and K.I.S.S. rule
#5), traders often look for a similar size move from when a market breaks out of a pennant. When you see a
pennant breakout occur, do two things:

1. Measure the mouth of the pennant. (See the blue area on the chart below.)

2. Add it to the breakout point. (See the green.) This is a great place to start looking for an objective
for your trade. There are no guarantees, but its a formula many traders turn to. You should too.

Take a look at what I mean:

Having an idea of how far a market can run helps you when entering objective orders and
managing stops.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

Sometimes traders just need to be patient and wait for the move to present itself and then attack
the market accordingly. Pennants are a great formation to trade when volume comes into the
market.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

K.I.S.S. Rule 8
Dont just have a monetary stop. Look at what the chart is telling you.

1. When looking at your entry price, scan to see if there is a recent level of
support or resistance levels. This indicates what the market would have to
fight through if price action goes against you.

2. Then put your stop-loss order just above or below that level. Heres a simply
way to think about it: If the market gets to this level, Im wrong and need
to exit.

For example:

Heres another way to think about it: Look at the chart and imagine that the price action is at the
price level for a stop youre thinking about. You want to bypass emotion and use the charts in the
moment to manage the tradeand your risk.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

K.I.S.S. Rule 9
Know where your stop should go.

It comes down to two questions:

1. Where would you be wrong?

2. Where would you not enter the market?

If the price were there, would you still be looking to enter the market in the direction
you were thinking? If the answer is no, then that price point is where your stop
needs to go. If the answer is yes you would still be looking to enter the market
then you need to put your stop further away.

Different trades and formations call for different levels of risk. Some may be
$800.00 and some may be $250.00 and thats fine. If the risk is low, look to trade
multiple contracts and scale in and out accordingly.

See the different price levels each chart offers for opportunities for stop-loss BROKER TIP
placement. A daily chart can limit your levels on any intra-day stop moves, but a
four-hour chart can showcase a few different choices. These charts are from the For trade management
and moving stop
dt Pro platform that Daniels Trading makes available to all of our clients:
orders, I like to use
four-hour charts. View
one the next time you
are looking to either
reduce risk or lock in
profits. Using the same
methods of support
and resistance, I think
you get a great micro-
view of the price
action.

30
Acquire the confidence to trust and understand
what you see -- so youre ready for opportunity.
See how Brian can help you know what to do and when.
Get The Cullen Outlook.
HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

4-Hour versus the Daily: (dt Pro charts)

I like to use intra-day charts for a closer look inside price action. I use them for a more detailed
description of where I need to be focusing on while in the trenches.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

With dt Pro, you can have multiple charts running on your platform so you can toggle back and
forth to maintain the awareness of your levels.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

K.I.S.S. Rule 10
Make your stop-loss order a two-lot.

Buying on support and/or selling against resistance are not new concepts. Chances
are youve traded on both of these ideas. But what about the times when you were
wrong? What happened to the price action after you were stopped out? Did you
miss a trading opportunity?

Heres a strategy that I teach my clients to use in certain situations: Make your
stop-loss order a two- lot. What I mean by this is if you are trading one contract,
your stop-loss order would be for two contracts. In my opinion, a great time to employ
this strategy is when trading with a buy-support or sell-resistance strategy.

My goal is for clients to participate in a potential market move after they are stopped
out if the market looks as if it is going to continue in that direction. One stop order will
exit your one long position. And the second stop order will initiate a brand new
position making you now short a contract. It can be a good way to participate in a
possible reversal of price action.

You notice a market that may hold support:

When a market is bouncing off of support and resistance BUT has room to run if penetrated
what can you do?

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

Buying looking for support and a bounce:

Heres the thought process: You place an order to buy at a level of support. Youre
looking for this support to hold once again and you want to play the bounce. So
you place your stop just below this support to confirm the market is making a new
recent low. If the support level does not hold and you are wrongyou want out of
your long position. And you would like to initiate a new short position. You could use
the same strategy when youre trying to sell resistance but using buy stops.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

Two-lot stop-loss order:

If a position is established and you find yourself on the wrong side of the market after support
or resistance fails to hold, an idea to explore is flipping your position with a 2 lot stop-loss order.
BROKER TIP
Flip the failed bounce
To be clear, by no means does this work every time. And of course there are certain levels to a bigger breakout.
and/or trade ideas where this strategy may not be a good fit at all.

Never underestimate the power of a breakout trade. When markets have a lot
of room to run (as in the chart above), the moves can be great. But they can also
happen fast and furiously as traders rush to the call for action and drive the market
at breakneck speedsbecause they want in if they can.!

Traders looking for these opportunities should be proactive rather than

reactive. Trade what the charts are telling you! Sign up for my newsletter and
Ill put the charts that have my attention in front of you on a daily basis.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

About Brian Cullen

Brian Cullen is a Senior Futures and Options Broker and Market Strategist with
Daniels Trading. He is the publisher of The Cullen Outlook newsletter and the
author of The Markets Spine, a guide and video series focused on technical analysis
of the futures markets.

Brian began his career working with equities and equity options at Charles Schwab.
Since then he has held various positions in the financial industry, from head clerk on
a high-volume trading desk on the floor of the CBOE, to being a market maker for Brian Cullen
a proprietary trading firm in the SPX and OEX pits. Brian then transitioned into the Senior Market Strategist

futures market as a retail broker. He was a Market Strategist for Lind-Waldocks (866) 928-3319 Toll-Free
Private Client Group division, dealing exclusively in the commodity markets. (312) 706-7629 Local
(312) 706-7529 Fax

In early 2009 Brian joined Daniels Trading to expand his added-value services as a @BrianCullen8
broker and to build his client base in new areas. With Daniels Tradings diversified
execution categories, the opportunities for Brians clients are endless.

In Brians words:

I look at the markets and analyze charts all day long. For more than 12 years,
Ive been helping clients learn how to trade the futures markets using technical
analysis. To help as many as possible, Ive distilled my approach into a program I
call The Cullen Outlook. Through publications, webinars and more, I present
ideas, tools and strategiesand most important, a trading style.

The Cullen Outlook has something for broker-assisted and self-directed

traders alike. There are five components to the newsletter, The Markets Spine,
The Markets Spine Video Series, and the Pre-Dawn Targeting, The Formation
Finder and Trade Idea Snapshot emails.

My goal with all five components of The Cullen Outlook is simple: To arm
you with the knowledge to see what the chart is telling you. And to help you
acquire the confidence to trust and understand what you see, so youre ready
to take action.

So what are you looking for? If you like the idea of acquiring a trading style that
sees what others miss, give me a call or email me.

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HOW TO GUIDE:
10 RULES FOR TECHNICAL FUTURES TRADING

DISCLAIMER
STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE
IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE
DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A LIMIT MOVE, IT
MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.

THIS MATERIAL IS CONVEYED AS A SOLICITATION FOR ENTERING INTO A DERIVATIVES TRANSACTION.

THIS MATERIAL HAS BEEN PREPARED BY A DANIELS TRADING BROKER WHO PROVIDES RESEARCH MARKET
COMMENTARY AND TRADE RECOMMENDATIONS AS PART OF HIS OR HER SOLICITATION FOR ACCOUNTS AND
SOLICITATION FOR TRADES; HOWEVER, DANIELS TRADING DOES NOT MAINTAIN A RESEARCH DEPARTMENT
AS DEFINED IN CFTC RULE 1.71. DANIELS TRADING, ITS PRINCIPALS, BROKERS AND EMPLOYEES MAY TRADE IN
DERIVATIVES FOR THEIR OWN ACCOUNTS OR FOR THE ACCOUNTS OF OTHERS. DUE TO VARIOUS FACTORS (SUCH
AS RISK TOLERANCE, MARGIN REQUIREMENTS, TRADING OBJECTIVES, SHORT TERM VS. LONG TERM STRATEGIES,
TECHNICAL VS. FUNDAMENTAL MARKET ANALYSIS, AND OTHER FACTORS) SUCH TRADING MAY RESULT IN THE
INITIATION OR LIQUIDATION OF POSITIONS THAT ARE DIFFERENT FROM OR CONTRARY TO THE OPINIONS AND
RECOMMENDATIONS CONTAINED THEREIN.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE. THE RISK OF LOSS IN TRADING
FUTURES CONTRACTS OR COMMODITY OPTIONS CAN BE SUBSTANTIAL, AND THEREFORE INVESTORS SHOULD
UNDERSTAND THE RISKS INVOLVED IN TAKING LEVERAGED POSITIONS AND MUST ASSUME RESPONSIBILITY FOR
THE RISKS ASSOCIATED WITH SUCH INVESTMENTS AND FOR THEIR RESULTS.

YOU SHOULD CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR
CIRCUMSTANCES AND FINANCIAL RESOURCES. YOU SHOULD READ THE RISK DISCLOSURE WEBPAGE ACCESSED AT
WWW.DANIELSTRADING.COM AT THE BOTTOM OF THE HOMEPAGE. DANIELS TRADING IS NOT AFFILIATED WITH
NOR DOES IT ENDORSE ANY TRADING SYSTEM, NEWSLETTER OR OTHER SIMILAR SERVICE. DANIELS TRADING DOES
NOT GUARANTEE OR VERIFY ANY PERFORMANCE CLAIMS MADE BY SUCH SYSTEMS OR SERVICES.

THE RISK OF LOSS IN TRADING COMMODITY FUTURES AND OPTIONS CONTRACTS CAN BE SUBSTANTIAL. THERE IS
A HIGH DEGREE OF LEVERAGE IN FUTURES TRADING BECAUSE OF SMALL MARGIN REQUIREMENTS. THIS LEVERAGE
CAN WORK AGAINST YOU AS WELL AS FOR YOU AND CAN LEAD TO LARGE LOSSES AS WELL AS LARGE GAINS.

39
CONTACT BRIAN CULLEN

Brian M. Cullen
Senior Broker and Market Strategist

(866) 928-3319 Toll-Free

(312) 706-7629 Local
(312) 706-7529 Fax
bcullen@danielstrading.com

Daniels Trading
100 South Wacker Drive
Suite 1225
Chicago, IL 60606