This week my equity fell down from $30667.26 to $ 28429.91.

The main loss is due on the mistakenly judgement on the soybean’s market.

The form below shows the movement of my trading account during this week.

Last week soybean experienced a modest drop. At the beginning of this week, I was thinking about to go long on S2X (because there is often a rebound after a decline). However, after analysing the historical futures chart, I found there is still a big space for the soybean to decline( as the     shown in the chart below ), so I kept going short on soybeans.

However, several news released this week made the soybean market rise violently.

1. http://online.wsj.com/article/DN-CO-20121023-012617.html

“ ’Chinese demand is still high and the U.S. is basically the only game in town for global soy supplies at the moment, a strong underpinning influence for prices’  said Arlan Suderman, senior market analyst with advisory firm Water Street Solutions in Wichita, Kan.

The U.S. is buoyed by strong export demand, led by China, the world’s largest soybean importer. “

2. http://www.brecorder.com/markets/commodities/asia/87940.html

“ Indian soybean futures surged more than 3 percent on Thursday to hit the highest in a month on gains in overseas markets and as local oil millers were aggressively buying in spot markets due to good export demand for soymeal.”

Don’t rely too much on the technical analysis, keep eyes on the related news!