This week was a good one for my trading game. The decrease in prices of soybean in the beginning of this week made me feel the sweet taste of gain. My equity balance grew from $40098.28 to $46060.82 on Monday, $50523.36 on Tuesday and $50673.40 on Wednesday! I was going short on January 2013 with 3 contracts for soybean and the considerable decreased in price made my equity balance increase by 25%.
The soybean futures prices traded mostly lower this week as plantings in South America are going well. Many economic reports from around the world hinted to further economic slowdowns in Asia and Europe. The United States is only growing somewhere between 1 and 2 percent: http://www.tkfutures.com/soybean_futures_soybean_options.htm
On the last two days of the trading, the price of soybean start slowly to move up, so I decided to offset the contracts in order to keep some of the gaining of the week. Unfortunately, I didn’t do it two days earlier and I lost a part of the $50673.40. But, it was still an honorable profit. On Friday, after I liquidate all three soybean contracts my equity was $46033.98 and realized gains of $6058.50.
In the same time, I went short with a contract of corn which had an increase of 0.50 and made me lose $25. However, this was insignificant for the overall earnings of the week.
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