I..am..so…exhausted…
Energy level will be reaching its low soon….bad sign bad sign….
So this week was weird…
First, my open positions from last week were 1 long soybean contract, and 2 short wheat contracts.
Margin at the beginning of the week: $43,980
Monday 7th
Did not bid.
Margin balance: $42,770
Tuesday 8th
2 long corn contracts, successfully entered the market.
Corn price made a jump this day as I gained about $800. Also gained from the soy contract, but lost a lot from the short wheat contracts, thus I had a net loss.
Margin Balance: $41,740
Wednesday 9th
1 long corn contracts, successfully entered the market.
Margin Balance: $41,455
Thursday 10th
Did not bid
Considered offsetting my long contracts in soybean and corn since I lost about $1500 from these 2 commodities the day before. However, I did not as I got an advice from Deron on twitter to keep my contracts as it was expected that the prices would go up due to lower yield of corn and soybean in the US. I took the advice, but I actually lost even more the next day! Hahaha I lost approximately $2500 on this day. I think I did not do enough analysis for the market, hence I lost. I should’ve looked into the demand side because although US soybean and corn yields were lowered, there had been news stating that US exports had also substantially reduced. Therefore, the price went down rather than up, even if they went up, they wouldn’t have been big jumps.
Margin Balance: $41,285
Friday 11th
Did not bid
Margin balance at the end of this week: $40,975
I think I was pretty lucky this week because I had contracts in each commodity which really reduced my risks. If I only went with wheat, I would’ve lost a lot in the beginning of the week, but due to my long corn and soy contracts, the loss was offset. In the next two days, I lost of lot from the long contracts of soy and corn, but thankfully, the gains from my short wheat contracts offset my loss. So overall, the change in my margin balance wassn’t considered too large, it definitely could’ve been worse.
This week was definitely weird because the prices went in complete opposite directions halfway through the week so it was very difficult to predict the prices. That was one reason I didn’t bid much or offset anything as I just wanted to have contracts in everything, and I didn’t know what to do really, so I decided to ride along with the market.
Caroline
Hi Caroline,
I can feel that you are tired even from your writing. Cheer up!
I had a similar week as you. I had long in soybean and corn and short in wheat, and they moved opposite direction during the week. So my margin balance was also benefited from it. Hope you gain strength and get ready for next week!
Yijeong
haha i keep getting that…i guess my writing is like worsening over the weeks hahaha
yes, i need to regain my energy..hence woke up at 2pm today LoL
glad to hear that u spread ur risk across the 3 commodities as well…last week of trading, hopefully can gain A LOT! hahah…or it could go the other way lol
Care your blog makes me laugh…
I bet your probably feeling pretty good since you have such a high margin, that you dont need to read too much about what is going on. You have lots of room to play around with…do you have the highest balance in the class so far??
get some sleep this weekend,
Ellie
elliieeeee dearrr! <3
my blog sucks thats why it makes u laugh right hahahah
u learn absolutely nothing from reading my blog lolzzzz
anyway, noo..i dont feeel goooddd...just lazy and dunno how to interpret the market haha
im not highest, i think a couple other ppl are much higher than me..like lisa
woke up at 2pm today!!
I opened a lot of people’s blog and then confused which one belongs to who. But Once I read the first word of ur blog. I know it is Caroline. HAHA~~~~~~
Anyway, u did so good job in the trading game. And I guess that it is you who suggests James should mark on the balance, right? 🙂
Well. I think that u r pretty clever this week. Sometimes do not bid is the best bid. In addition, next week will be the final week and you can quit the market quite freely with a small amount of contract.
no zheng! you should know its my awesome blog once u see the adorable animal banners at the top!!! =)
I didn’t suggest that to Jim !!! haha i just suggested that he should give out a little prize at the end of the term
I can feel your exhausted from your word, Caroline. Cheer up and be excited about the last week’s game! You must know there’s a sentence means “begin well and end well (善始善終)”, right?
You still play very good even you feel tired of it! So jealous on your balance. Hope I can catch you in the last trading week! Haha…
Lixi
yesss i know that proverb thanksss~~hanging in thereee..just one more week!!..i hope i can reap in a lot of profit this last week..i shall put some thought into what to do this week hahaha
aiya! Caroline!!!refill ur energy!
I REALLY LIKE THE WAY U PUT WORDS!!!!
btw cuteeee kitty pics!did u send it to Janelle like what u do in facebook hhahhaha
I think its really a clever way to have contracts on differnet commodities.can we call it hedge within differnet commodities?
i should try it too!!
ur soo rich!!! Im back to original point !!
ure the first person to comment on my animal pictures! hahah…yes, janelle hates animals so i love posting picture on her fb and freak her out lolll
yeahh, i guess u can call it hedging hahah…because i was just so hard to predict what the prices would do~~
yes do it for the coming week! 5 contracts in each! hahaha…im kidding….that, according to Jim would be “wreckless bidding”..not good not good~
Did you suggest Jim to mark on the balance?! OMg…that would be sooo good, as I could really use some recognition from this bidding them in terms of bonus marks, which i need badly ><
anyway…..I thinkk the advice you got from Deron about holding long contracts did not turn out as expected is because the Euro debt crisis really does seem to have a significant impact on prices, as can be seen from our exchange group's predictions over the past weeks. There may be factors going in opposite directions, but I think we need to weigh the most important factors, and the crisis really seems to be one of them.
i didn’t suggest it, YOU should! you’re the one with like 100k balance isn’t it?!?!!?
i actually haven’t been paying much attention to the Euro debt crisis….i should really tho as like you said, its really affecting the market…i shall look into it more for this coming week~ thanks!