How time flies! I have been in Vancouver for 3 months exactly and I have already finished half of the study tasks for the first term in Vancouver’s beautiful autumn. As I finished my last transaction on Friday morning, the futures trading game also comes to the final.

Thanks for Mark’s comments which encouraged me to insist on my own rule to trade. He said, finding out what you are good at and sticking to that for best results. I finally find that wheat is my best friend and it can always be in control while others are often change in a way different from what was expected. 

So I shorted 15 contracts of Dec. wheat in the final order this morning. The open price is $6.97 and it rise to $7.02 in the early morning. But the general price action for wheat today showed a downward trend. In fact, when I waked up and analyzed the trend, the wheat has experienced 2 waves of continuous decline. But I thought I did not miss this wave actually. Luckily, my forecast turned out to be CORRECT !!!

In this 6-week trading game, I learnt a lot. From knowing the definitions and rules of futures to figuring out the “short-term trading” strategy which fits for myself, it is great gains. In the end of the blogs, I summarized a series of detail strategies and lessons learnt for my futures trading journey.

a)      POSITIVE ATTITUDE AND A STRONG HEART

We must overcome one of the human failing —— Greedy. To get the meager profit is the core of this kind of strategy. The game trained me to be more resolute and broad-minded when facing the profit and loss.

b)      CHOOSE YOUR MOST FAMILIAR COMMODITY   

You can rarely get profit from the unfamiliar items. Keep an eye on the things which you are really good at, no matter in the futures trading or in your life.

c)       BUILD YOUR OWN TRADE TIME STRUCTURE

Use the 5- minute chart to make a short-term decision. After you open the position, you need to take actions in 3-4 price movement. Do not take any actions in the first 30 minutes after opening.

d)      RISK CONTROL

How well can you use the limit and stop order? It is a criteria to evaluate a good risk control trader.

e)      HAVE A QUALIFIED TRADE RECORD

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

……

It was actually a precious experience for my following investment decision making in the “future”. (*^_^*)

Looking forward to the Halloween week~~