Ohh this is the last week for trade game,should i shed tears?  o.0 –> T.T

This week,i only bid three times.Keeping losing money but feeling very brave to follow gut to bid!

This week, my new strategy is hedging between comodities and between contracts,which means going long and short between different comodities and when offseting,dont offset thoroughly so that you can have long and short contracts at the same time to buffer your risk.

It did helped me ag little bit,like on monday,i had -3 long contracts in corn,but technical analysis predicted corn would be bearish which price would fall.So i wanted to offset my long contracts by taking 4 short ones.It turned out to be i did the right thing.But because my -3 contracts accounted for a large portion,i still lost some money.But this strategy did work a little bit to buffer the losing risk.

16th. I didnt bid anything on 15th,since i was watching the market trend for a day to think my next step.About corn,from the news i read from bloomberg,they mentioned due to harvest concern,corn price would increase.About soybean,i learned there was upward pressure on US dollar,which made US export less competitive,so i took -5 long contracts to offset my short 4 contracts.

Last night.I offset all my contracts.Yea,its done.Period.

What i learn from this trade game.

1.Find out your own strategy.

I still remeber the first a couple of weeks when i set my feet in news world..i felt soo overwhelmed and i overrespected the news posted online,so i got quite confused about different news for one same thing.So what you need to do is not threatened by all kinds of news,calm down,pick some from different perspectives,like from demand and supply,exchange rate.

Also like im quite risk-averse,i usually bid 1 or 2 contracts 3 max and hold contracts within 4.Offsetting frequently but not thoroughly worked great on me.Last 2 weekes,i tried to be brave to try out some risk loving method…Failure.

2.Be passionable and persistent.

Weeks before midterm,i was soooo excited to check news and do bidding,but because one week pause,i suddenly lost way what to do when returning to market.So,i think when in the future,by any chance to do shares or what,checking news and follow market should be like a habbit.

3.Calm down.

I remember one week i kept earning money,my balance went up from 30000+ right to 60000(wow thats my most brilliant history),which motivated me a looooooooooot.However,im not the boss of market,losing money is wayy to common.But it still took me one or two days to recover,keeping thinking:fake money ..fake money…fake money and its not yours..not yours not yours…

Last.I want to thank all the classmates ,TAs,Jim who helped me a lot with my strategy and margin balance calculating.Also i really appreciat those people who comment on my blogs(then my blog doesnt look very lonely;P)….oh…too sentimental now ….

I think ill still read everyones blogs and mine and also our twitter, soo many memories to reflect on.And it is such a nice and new adventure for me,just by saying future market and bid makes me sooo cool in front of my friends hahahha!

Also,im looking forwarding to next GAME!!!

Good luck to everyone and Thank you all again 🙂

Fancy

This week,my margin balance went negative overnite..and after i posted “join negative-margin club”,Tasha welcomed me with all her warm arms and told me to have a seat there. hahahaha!!!!!But when i looked close of my bid,i realize on 9th ,i sell my wheat @ 0…which obviously was a MISTAKE…so i dropped Javier a line to help me fix it…Then later,my margin balance was normal again.It teaches me a lesson which its never too much to be more careful.In simulated trade game,i have Javier (who likes humming “criminal” song) to help me,but in reality who can help me if i bid wrong by accident??

This week i only bid twice….thought to be more aggressive for the last two weeks,however when my balance became negative by accident,just wish i knew what to do later…

Andrew Chen told me that i didnt catch good timing to bid after reading news,so thast why i bid wrong even base on the same news..So i started to read news during night,after market close.Then news would be about prediction for the next day.

8th.

Corn:Corn marekt was trading low due to outside market pressure.

Soybean:Soybean market was trading lower due to strength in dollar.This news leaded to less export which pushed down price.

Wheat:Thanks to harvest rain which leads to strong harvest in Australia.It has big impact on record stock,boosting exportable supplies.I think this news might affect CBOT price.Then Brazil buys wheat amid concern over the cost of scheme,whose cancle would open the country up to even higher import.Also the cost of the scheme has provoked long standing concerns.

So on 8th.I went -2 long contracts for corn,1 short contract for soybean and -1 long contract for wheat.

Later that day,after market close,soybean price down due to the fact that traders expecting a government report Wednesday will show grow supplies and expecting USDA to increse soybean supplies due to weak export demand.As for wheat,its price went up due to higher amid worries about global supplies and ahead of Wedsday’s report.Also production of  red winter wheat crop decreases because of drought in Ukraine and rains delayi in Australia,which leads to lower harvest.

9th.

Corn:Corn has small harvest after drought,curbing an expansion in global supplies.Another important reason affect corn price is the drop in stockpie.This will push up corn price.

Before i bid,i read twitter news posted by Hossein about the released USDA report..I think corn,soybean price would go up whereas wheat price would go down.So i went long -2 and -3 contrats for corn and soybean and 2 short contracts for wheat.I was veryyyyy aggressive to bid 3 contracts normally i just bid 2 maximum…At that moment i was like:ohhh only one more week left…do something braveeee!

Maybe i was wayy too excited to be brave that i sold my wheat @ 0 by accident>.< ohhh

All in all,this week i lost 2 thousand in total.total balance is around 25000.After wandering around,it comes back to the original point.But i learned a lot during this experience.

What i gain is not the result.Its the scenery on the way that matters.

But dont wanna make stupid mistake again,lesson learned!

Fancy

Heyyyy !! how are u ? After midterms,finally feel the difference between week and weekend lol:)

This week i bid forth times total..but…keep on losing money:(

10.31

I read news that corn price decreased since rally in dollar erope prospects for U.S exports,which reduces investment of commodities.Also,due to bigger crops in Ukraine and the EU are intensifying competition for U.S export market.EU normally is a net importer of corn,but now he is exporting the grain at the fastedst pace in at least seven years.

As for soybean,the price dropped lowest .Argentine were blocking access to the country’s grain ports which will become a supportive factor for price.Also ,theres a strong correlation between China pork production and soybean production,urban population consume more and more oilseed.Morever.China accounts for 60% of world soybean trade.Its demand is a key element in shaping market’s view on price.n this way,soybean price should go up.

Wheat price should fall too as price signal expected substitution demand for feed to wheat.

So i went short 3 contracts for corn soybean and wheat,offseting my long positions before but leaving one short contract for corn and soybean.

However that day,i lost 10000+.Price did decrease,however the price i bid was lower than closing price.And also since what i had before and what i offset were too many contracts..like 2 and 3 contracts for each commodity.So thats why i lost a lot..lesson learned!

11.1 new month yahh!

I bid nothing today after losing a lot money,i thought it would be better to stop to see what is going on in the market.Price for corn and wheat increased a little bit whereas soybean decreased a little bit…

Later i know from news that for corn,much of the day the price decreased due to strong value in U.S dollar.Also weakness in stock market as well as EU debt situation drag down global economy.But later session,short-covering push up price.As for wheat,support from corn push up wheat demand.In the meantime rain and snow in some HRW wheat belt slowed wheat harvest.Morever Egypt bought wheat from Russia due to cheap shipping cost.

11.2

Corn,due to low export,price decreased.For wheat, US export decreased due to competition from black sea region.What matters most is EU trouble slowed agriculture commodities boom.But i went long for corn and wheat,trying to offset my short ones.Not much news about soybean market.based on the decreasing trend,i went short for soybean.However it turned out to be a wrong decision:(

11.3

I went short for corn and wheat and did nothing to soybean.Since i always think better to bid short when you are not sure about market since bad news are always have bigger influence on price.However,this week,the price was exactly the opposite as what i thought.Yes,price went up for these three commodities..Later i heard it was becuz weak in US dollar…

I was quite depressed this week,since at beginning i lost 10000!!!!ohhhh its just fake money,simulated trade game which can have a big effect on me..Cant imagine if i use my own money bidding what gonna happen if i lose 10000 overnight….So what i should learn this week is quickly bounce back after losing 10000 and change my attitute to MORE CAREFULLY READ NEWS and be more aggressive and passionable:)

GOOD LUCK!!!

After midterm,we come back to trade game again.After staying away from it for a week,i feel lost about market….I kept wondering what was going on when i can bid again…On Monday,i discussed with my team members about the weather condition,which seemed to be good for harvest.And it turned out to be right,as the news said”corn,wheat and soybean remain bearish with pressure from a rapid harvest in the U.S.”.however the price didnt fall as we expected.I felt lost…Then as i started to read more news,i realize the market is focused on the European situation.So thas’s why price increases during this week.

Before midterm,i still have -1 contract for each commodity,since the price incresed several times during last and this week,my margin balance didnt suffer a lot.So i still had 35000+ left.

On 25th.USAD said the quantity of soybean is less than expected,and market was bullish.So i went -1 for wheat and soybean.As for corn,i heard Chinese demand for corn was up,which means China would import a large amount corn from states,so i guess price would fall.Since i didnt know which factor would affect more on corn price,i didnt bid anything on corn.It turned out that price for soybean and corn decrease a little bit,and wheat price arised.All in all i lost 3000 profit that day.

From 26th.I knew China releases corn from government into market.However,this is not the main factor affecting price,what matters most is European situation.As European leaders boost the region’s rescue fund which sparked a rally in commodity market.At the same time,EU further measures to shore up US economy amounts to more quantitative easing of monetary policy by central bank.US economy expanded at the fastest pace in a year.I think this is the reason commodity markets have seen price strength this week.Morever,from reading news from twitter,i saw food price inflation is quite high,which might have some effect on price.

After witnessing market for a day,i went long -1 for three contracts on 27th.It was quite a successful day for me which i gained 5000+ . Gradually my feeling for trade game comes back:) This is my first time to hold 2 or 3 long contracts for a long time,i still feel unsafe to hold long contracts.So next week,ill think of offseting some contracts based on news.

After staying away from trade game for a week,it doesnt remember me either.So this week is a good time for us to re-know each other more:)

Good luck to next week!

From last week, price kept decreasing for some reasons,which i thought maybe soon price would go up!So everyday i was thinking of going long!

Finally my “go long”dream came true this week,but for a short while!

10 of Oct,i read some news,heres my conclusion:

For corn: Price rallied by outside market,EU crisis seem stablize,so dollar will become cheaper and weaker,which means more and more export.Also i saw a spike in gold price leads to the gains in other commodity,including corn.(Actually i dont quite understand the linkage between gold and corn,so i posted a question in vista which nick just told me,there should some relationship between cooper and wheat,gold and corn…so that makes sense then.Thanks~)Morever,because of economic growth,demand increases,which needs greater use of fuel made from corn.Corn is oversold,and short covering.So for 10,corn price should be up by 10-12cents.

For soybean,basicallly the similar reason.Because Chinese market will reopen,which will boost demand,i guess soybean price would go up dramatically.Whats more,theres a canal expension,which improves competition of 44%of U.S soybean export.So i think its a good news for U.S export more soybean.However,major transportation infrastructive chanllenges limit the benefits….So if this canal expension is beneficial to export,we should wait and see then.Anyways,soybean price should be up by 10-15cents.

For wheat,news about drop in the value of dollar and oversold wheat also leads to wheat price grow.Also,good rain in Plains contributes to harvest,and warm weather persists over winter wheat area leads to early season growth.

So,for 10,news all mentioned price going up,but for me,i have been getting used to bid short all the time,i would rather wait one day to see if the price does go up.

On 11 of Oct.

For corn,good war, dry harvest weahter in midwest contributes to 33% complete corn harvest.But i read another news saying by Tuesday,corn price would decrease due to strengh in dollar and some reduction in harvest acreage.

For soybean,production yield is higher,and China buys a large quantity of soybean from U.S.

For wheat,USDA is expected to raise the forecast for global wheat suppliers and also rain in Plains contributes to harvest.

So all in all,price still has the trend to increase,so i bid long on 11,holding -2 contracts for corn.-1 soybean and -3wheat!

Then,price did goes up dramatically that day which i gained like 14000+profit that day:)

On 12 ,For corn,I know China buy a large amount of corn from U.S which drives up the price to limit.But price tumbled after government boosted estimate for global stokpile,since theres more supplies for foods,animal feed and ethanol.So i dont know if price should be up or down.

For soybean,uncertainty of if China import form US or south america cuts gains.For wheat,more stocks due to cuts in both domestic use and export.Also news from Russia to impose export tariff on grains,which wheat feeding condemned.However,corn kept steady.

So in the end i bid nothing for corn,but -1 for soybean and -1 wheat,turning out to be a bad idea since price decrease a lot….

So on13,i offset some contracts for these three crops,but im not sure if its the right thing,so i still leave one short for each commodity.

Thats it.Have a good holiday:)

wow it has been the forth week!!

This week,my margin is around 39000,sometimes higher,sometimes lower.But im tooooo risk-averse to hold what i gained!Come on,its just a game.its the same holding 39000 and -39000!!!I kept telling myself:Its a game,be more aggressive!!!

This week,what i tried to practise myself was ANALYSIS.To be honest,i still cant predict well,but i think im on the good way:)

On 30 of Sep,i didnt bid any,holding the old short contracts for these three commodities,which i gained a huge fortune(to me,its huge haha).So i was like even more risk-averse to bid,scaring of losing what i earned! From 30,the market price decreased dramatically,i thought maybe it was too low to bid any,maybe the wise thing to do was waiting for one more day to see the trend,if it continued bearish or would rebounce the next day.In the meantime,i read news knowing corn inventories still droped less and slow demand for crops used in food and animal feed.Whats more,EU debt criss is also a dominant factor affecting price.Here im listing some information i got from news.

3rd:

For corn:It seemed corn price rebounded a lil bit due to the open weather in corn belt leading to harvest,which made my mind turn into demand and supply immediately.So i guessed price woulde increase(also i thought price should increase a lil bit since it decreased this much!!)

For soybean:Market would rebound due to the favourable weather in midwest.However gains were being limited by outside market and increasing harverst pressure.Now concern about Greece’s debt crisis has pressured global and US finacial market…At the same time,fund long liquidation expected weakness in stock and strengh in dollar added to weakness(Actually i dont really understand long liquidation…..but i see weakness = =).I think because of Greece or EU debt crisis,people will turn to US dollar this safe haven,which appreciates dollar,making exports more expensive and decreasing demand.Then price decreased.During discussion with my classmates,i knew bad news,compared to good news,have a bigger influence on price.

For wheat:It seemed market for wheat was mixed.First due to spillover support from corn,wheat future rallied despite strength in dollar,which price should increase.On the other hand,domestic demand sluggish and needed frainfall in HRW wheat belt should decrease price….

Anyways,even with these information,i still prefered to wait one more day to make further action.

Based on 4th news,I knew China would import a record big amount of corn from US due to the shortfall left amount in China and continual growth of livestock farming.Then price would increase also drag wheat price up,since wheat is alternative to corn,theres a close linik between these two commodities.Another reason i guess price for corn would increase is the demand from ethanol plants.

So on 4th, i went short 1contract on corn,soybean should still decrease and went 1 long contract for wheat too.Howeve that day PRICE CONTINUED DECREASING.I was like:ohhh nooooo.i did read news,i did do some analysis…but how come!!!  I think maybe still the main reason is still bad news dominate the price…..

5th.for corn:because spurred demand from livestock and ethanol,and the reason China inports,price would increase.Basically its still the same reason as yesterday.for wheat,based on the same reason as yesterday,also central bank may take further step to sustain an economy recovery,i guess price would increase too.So i guess i should bid long(what i thought was price had already reached bottom.it should increase!!!it should be !!!)But that day,i forgot to hand in future game archive….turned out to be i bid nothing.But what i guessed was right on corn and wheat price!yahhh:)

6th…i was quite happy about my analysis on 5 and become more confident..whats more,i still feel like price would rebound…So i was quite aggressive to went long 2contracts for these three crops..however…..price remained the same for corn and soybean,wheat price decreased…..

I think what i should do is continuing analysis!Sometimes i really feel overwhelmed about economic phases…and dont know which news i should pay more attention to…But its really interesting to do this trade game,feel like im doing something really huge and professional hahaha and its soo cool to tell other friends who are not in this major about this, especially when i see their puzzle faces and hearing they are saying:wow!!!!

LOL!HAPPY LONG WEEKEND!!!!XD

Oh my blog goes crazy which i lost all the contenst before post!!! 🙁

Oh the market goes crazy this week which i lost a lot of profit!!!! 🙁

Hey its been the third week for trade game which i find out it more and more interesting even though i still cant predict the market well and my profits are quite fluctuated as always!!!But i believe its the art of trade game and its how it attracts you!!I went out with friends last night,when i was back,the first thing i did was to check price and my profits even before talking to parents and my boyfriend(now hes like:ohh trade game is my new enemy?):P

This week,i was not lucky to right bid to the point.I thought price would went down to bid short,but price went up in the end.I bid long to cover my loss but it turned out to decrease!I shouldnt say i gained 10,000bucks in Jims class since i lost them all in this week!But im happy i still have 26515 margin balance!

My weakness and goal:This week,i didnt make a lot progess in analysing market based on news,i still feel like its soo overwhelming.What confused me more is in the same day news, ones talking about price decreasing based on some REALLY PROFESSIONAL FACT.Immediately the next news talks about price increasing!So i totally at a loss and dont know which one to rely on! Also i found out i lack sooo many knowledge in something like currency,inflation deflation factor,basically when i read news,my mind thinks about supply and demand automatically which blind other factors…Also what i learned in Jims class open another way to predict price which makes me more confused.And i feel panic about knowing the hole of lacking knowledge….sooo many strange concepts….So what i should strengthen next week is combined basic knowledge with the ability to analyse market based on news..I think it will take me a loooooong time.

Some ideas to share:I think to be a risk averse,when u cant predict the market well,you can hold your contracts well,one thing is dont hold too many at one time…I never hold long or short contracts more than 5..Second,i dont offset the same number,which in my contracts,i have long and short ones at the same time:)

A lilttle analysis about market:This is my first time to write analysis here(just dont wanna mislead classmates haha)which im not sure if its right or not,so i hope my classmates can leave a comment 🙂

Corn: Corn inventory drops less due to the fact that farmer substitute to wheat for livestock feed.Ethonal from corn decreases since corn price was high due to bad weather.So corn price would decrease.

Soybean:EU debt crisis escalate,reduce global soybean demand,im totally a green hand on this,but i see “reduce demand”so i think soybean price would decrease too.

Wheat:rain in Australia contributes to wheat harvest,however,in the meantime,dryness from La Nina US cut down production.Turn to export issue,bumper Australia harvest confront the state with a chanllenge to find export homes,also balck sea extend an obstacle to export which is a potentially large wheat volume export place.In this way,wheat price is hard to predict then.

I didnt post calculation since i had a full blog about it last week.I hope my blog looks more professional with MORE ANALYSIS:)

T.G.I.F!!!have a lovely weekend!!!

YAHHHHH!:)

F

Hey everyone,before i start writing,i just wanna say THANK YOU SOOO MUCH to Tasha, Javier.Jim, Andrew and to Nick,Caroline,Zheng,Janelle.Those who have been bothered by me soooo many times this week by my questions!!!! I had a hard time calculating my profit since i offset different contracts.But now i can say im a expert in calculating it and become really addicted to do it,even though excel helps us do it already!I really enjoy the excitment when you find out your calculation is exactly the same as in excel!So if anyone who has problem calculating it,just let me know,and im pretty sure your suitation wont be “stranger”than mine since i think ive met all the calculation situation:)

However im not very good at predicting future market price based on the news.But i still have a quick glimpse to the news everyday to have a general idea.Basically i just follow the chart, i prefer candle than bar or line.(What disappointed me most is i gained the biggest amount of money by doing nothing!!!)So i think from this week,my goal is to know how to predict price basing on news!So,classmates,be prepared,ill have tons of questions!

Anyways,I earned money!!now my margin balance is 31480! Everyday i can earn some money,sometimes big sometimes small,I think its because i have long and short contracts at the same time,and i dont bid big numbers.This time ill mainly focus on calculation.

19th.

I bid nothing that day.since i still had 1short corn,3 short soybean and 1 short wheat.so i just need to use previous close price-today close price

profit:

corn=50*(692-692.2)= -10

soybean=3*50*(1355.4-1336)=2910

wheat=50*(688.2-673)=760

margin blance=26590

20th.

I went 1 short corn @691. nothing on soybean and went 1 short wheat@676.But dont forget to add up the remained contracts u bid before.

For corn and wheat,i was new to market,then should use bid price-close price.

corn=50*(691-690.2)+50*(692.2-690)=140

soybean=3*50*(1336-1338)=-300

wheat=50*(676-674.6)+50*(673-674.6)=-10

margin balance=26420

21st.

I did nothing on corn,went long 3 soybean to offset @1348 and went long-1@673.

so i still have 2shorts corn,0soybean and 1 wheat.Btw after offset,no matter if you still have contract left,just no need to calculating the old offset part next time.After offset,its new!!

corn=2*50(690.2-685.6)=460

soybean=3*50*(1338-1320.4)+3*50*(1320.4-1348)=-1500

wheat=2*50*(674.6-666.6)+50*(666.6-673)=480

margin balance=25860

22nd.

I did nothing but eared a lot!

corn=2*50(685.6-650)=3560

soybean=0

wheat=50*(666.6-633.6)=1650

margin balance=31070

23rd.

I went 1 long corn@638.4 and 1 short soybean (but bid price is higher than high price,so i didnt enter market).About wheat,i went 1 long @635.

Then i offset 1 contract of corn and still got 1 left.Also i offset 1 contract wheat,still get 1 left.

corn=2*50(650-638.4)+50*(638.4-652)=480

soybean=0

wheat=50*(633.6-640.6)+50*(640.6-635)=-70

margin balance=31480.

I hope this numbers wont make you feel more confused!Basically rule is everyday if u bid,its new to market which need to compare bid price with low or high price to see if u enter market.At the same time,you need to figure out how many contracts you left and dont forget to carry on to today.Also,if you didnt bid anything,contracts and price should carry on!

I hope next week i can have an idea of using information and news as well as knowledge to predict price up and down:)But i made progress this week and im gaining money which is not that bad!

Have a nice weekend!

Fancy

Before bidding.

This is my first time to actually deal with bidding and before i just sorta heard of it.So i was quite confused about how it worked and i had no idea where to begin with.But after the first confused week,i found out what i should do everyday.It is always excited to realize what you dont understand and try to find answers than have no idea what to do.

9.13 first bidding.

I was kinda getting my feet wet for the first time so not a lot to say,but i followed the strategy combined with my own bidding experience.Since i followed expert blog to know that corn price is quite fluctuate and im a rick-averse,i didnt bid any for corn.After checking the trend in CME,i thought soybean and wheat were going throught a downtrend,so i bidded short for both.But i kinda chose bidding price with a very confused mind..since its nearing midnight and i absorbed sooo many bidding knowledge that day…anyways.When i checked the close price the next day,both of the price were less than high price,so i entered into the market.But the close price the next day was higher than what i bided,so i lost some money…

9,15 second bidding.

I keep track of all the news twittered by my classmates and i check some news from bloomberg and agrimoney n other websites.I think:

Corn:

Due to the bad weather in U.S,corn productions decline,however,corn productions in south America offset the loss and better harvest ups corn supply.Since corn has more profit potential,farmer would like to produce more.Also corn for ethanol decreases because of expected high price,there is more corn supply ,So i go short.

Soybean:

I assume soybean goes through a downtrend from the charts and close price recently also liquidation pushe soybean lower,so i bid short again.Since im kinda sure about this downtrend,i go short 2contracts.

Wheat.

Since the rain cust wheat supply even though does not have much impact on harvest,Still it has some effect.Also wheat is an alternative crop to corn as a feed grain which ups demand.So i bid long for wheat.As im not very sure about it,i just go long 1 contract.

Calculationg.

14 of Sep:

I went short 1 soybean @ 1300 ,which close price was 1382.6

I went short 2 wheat @ 699 which close price was 704.4

Since my bid prices were lower than high price,i entered market.

but my loss for soybean was(1300-1382.6)*!*50= -4130

for wheat was (699-704.4)*2*40= -540

Margin balance was 25000-4130-540=20330

15 of Sep:

I bid nothing.which close price,but my margin still changed.So since i went short,i need to use previous close price-today close price.

which for soybean was:(1382.6-1358.6)*50*1=1200

for wheat was:(704.4-696)*2*50=840

Then margin balance was: 20330+1200+840=22370

16 of Sep:

I went short 1 corn @698, went short 2 soybean @1354, went long -1 wheat @699.

Since it was my first time to enter corn market,and my bid price was bigger than high price,then i entered corn market.and the close price for corn was 692

corn profit=(698-692)*1*50=300

Since for soybean i continued to go short,and close price for 16 was 1355.4 .So i need to use previous close price-today close price.

soybean profit=(1358.6-1355.4)*2*50=320

But for wheat, i went long -1 ,which means i offset -1 contract by bidding long and still remain 1 contract of going short.

HOWEVER I DONT KNOW HOW TO CALCULATE IT.AND I SAW ZHENG’S BLOG,HE GAVE US A WAY TO DO IT BUT I DIDNT UNDERSTAND,I JUST COPIED HIS WAY IN MY COMMENT AND DISSCUSSION PART,HOPE CLASSMATES CAN HELP ME UNDERSTAND IT.THANKS

At last.

I am still not good at filtering information online, which i still feel quite overwhelmed to deal with it and im pretty sure theres a long way for me to go to gradually understand it and have my own sharp opion about bidding(otherwise i wont be a student).The point is not how much money u gain or lose,its the way you think and the wise to bid that matters.Also it is VERY important to share your experience with your classmates,which they can give you their idea about it.Group work is always an added wisedom!Whats more,keeping a short summary for each bid is also a good idea.

I do think bidding is quite interesting and it keeps you thinking how to bid wisely.

Lets enjoy it:)

Fancy

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