This week is a very tough week. My equity is 33293.16 and I lost $7244.39. I made many terrible decisions that I can learn many things from them.

First of all, no matter how sure you think your judgements are, don’t make too many contracts. I believe that the price will increase eventually this week. I made a serious mistake that I made too many contacts and I decided to go short immediately when the price of wheat and corn go up. Unfortunately, the price kept going down until Friday.

Second, never offset the losing money contracts easily. As the price went down during the day, because I bought too many contracts, I began to worry I’ll be bankrupt this week if I don’t do anything to stop it. After carefully thinking, I failed to find anything may stop the falling of price. I went short the contracts because I was afraid of being bankrupt because of keeping losing money. As we know, if I do not offset the contracts, I may still have chance to earn money. So, we need to consider carefully when we decide to offset contracts that still losing money. That also implies we shouldn’t make too many contracts no matter how sure you think your judgements are.