As I mentioned in my last week blog, I planned to change my strategies to handle the trading game. Yes! It is short-term trading which I need to focus on the “Meager Profit”.

Many a little makes a mickle                                       

A Strong Heart is the priority to trading the futures with a short-term strategy. We must overcome one of the “human failing” —-Voracity. To get the meager profit is the core of this kind of strategy. That is to say, a successful short-term trader wins in Quantity with a certain percentage of quality. So keep that in mind and then we have chance to get profit from short-term trading.

Actually, this week’s attempt seems not as good as I expected. The leading cause is that I cannot control the transaction time well and a desire to earn more in a single transaction.

In order to overcome the voracity, I plan to set a specific objective in every single transaction.

Intuition goes first~

If you are a short-term trader, market and policy analysis is not the most important factor, but intuition is.  Market and policy analysis fits for the long-term investment as the short-term traders need to know how to “follow the trend”. If the market runs as we expect, just follow the trend. If not, stop as soon as possible! We cannot wait passively to open position after the market proves that my anticipation is right. It might be less profitable. We also will suffer from a great loss if we wait for the market confirmation to close a position.

Saturdays’ lab seems useful for me to predict the trend to make a short-term trade. Just follow my intuition with the help of the 5-15min trend chart to make a decision.

Lessons Learnt

1.Choose my own best understanding and familiar varieties. This week I tried feeder cattle for 3 contracts. And then I found that Wheat is actually my best friend~

2.When I miss a market wave, don’t chase it! I missed a good wave today because of a nap. I felt depressed but it was the true time to test my Strong Heart~

3.Save minute chart and the daily transaction records, and then make transactions conclusion. It is an important part of the trading.

New resources:

I noticed a analysis index today which fits for short-term trading. It is RSI—-Relative Strength Index.

Just share a link on Youtube about RSI https://www.youtube.com/watch?v=LT2LpZ_TWrc

Maybe we can talk about the details next week if I find that it is useful.

Happy Thanksgiving!!