Strategy WK3
After the huge collapse and sustain decrease in all this three categories’ market from Sep. 6th, we finally reaching the “Adjustment Phase” during this week.
Even all the Wiki Exports indicated a bearish in grain future market in the short run, I personally believe that, prices may stay steady during this week, Since the USDA Grain Stocks report will come out on the end of this week (Sep. 30), people may prefer play safety before that.
From Technical point of view, it is obviously that all of Corn Soybean and Wheat is around the oversold situation, which means price must back up in the long term. However, we cannot deny that both Soybean and Corn is still in the Drop Channel. For Wheat, combine the former MACD and KDJ chart with Relative Strength Index, I personally believed that wheat has already get rid of the Drop trend and probably going up at the end of this week.
For Monday:
Finally successfully went 2 short in Wheat @ 634 to stop bleeding. Holding another 2 long contract and waiting for the price back up.
Still holding nothing in Corn, took a break and look.
For Tuesday:
Decided to get into the Corn market again because according to the chart, downward trend is being clear.
Corn -3 @ 646
For Wednesday:
Tried to offset in Corn and Soybean and went long, but unfortunately didn’t enter the market by 0.15 higher than “today’s highest”.
Corn 5 @ 650.75
Soybean 3 @ 1262
Wheat -1 @ 643
For Thursday:
Miss the daily Due Time!! @ @ Lost control in Time Management. Forcing myself accept the mistake by not to change the bid form after 0:00 a.m. Another kind of learning experience!
For Friday:
To play safety, offset part of Corn. Realize that Soybean is still in the middle of Drop Channel, also wheat’s upward trend showed clearly in chart.
Corn 1 @ 636
Soybean -2 @ 1231
Wheat 2 @ 667
Benefit Calculation:
In case that I cannot be home before midnight Friday (Since I am going my first visit to Victoria *\(^o^)/*), I am posting the Calculation part without Friday’s. I’ll stick it on right after I back home!
Final Balance Calculate Update:
Lost a huge profit since I typed wrong number in Soybean contract by -2, which is suppose to be 2. @ @
Hope you guys have a great weekend! Good Luck for next week!!
Good job, Lixi!
Looks like your forecast is right. The price of wheat went up on Thursday and the price of corn and soybean were in downward trend. Your profit calculation is very helpful. Thanks for sharing your strategy.
Have fun at Vancouver Island!
Yijeong
Thanks for your comment, Yijeong. Even my forecast is right I still losing money everyday. Maybe I have to learn not to follow my heart but the result came out after I did the analysis. 😛
Have a nice weekend.
Good blog….and so professional….Your prediction is absolutely right and I’ve learnt how to calculate profit in a clear way..thanks for sharing~ Have a good weekend and have a earlier sleeping~
Hi lulu,
If you need my excel sample I can email it to you, I use that one for every week’s calculate. However, I don’t think it’s a pretty efficient way to do it…