{"id":91,"date":"2012-10-07T18:52:51","date_gmt":"2012-10-08T01:52:51","guid":{"rendered":"https:\/\/blogs.ubc.ca\/rosonluo\/?p=91"},"modified":"2012-10-07T20:27:44","modified_gmt":"2012-10-08T03:27:44","slug":"the-road-ahead-sit-and-behold","status":"publish","type":"post","link":"https:\/\/blogs.ubc.ca\/rosonluo\/2012\/10\/07\/the-road-ahead-sit-and-behold\/","title":{"rendered":"The Road Ahead &#8211; Sit and Behold"},"content":{"rendered":"<p>As mentioned in the previous post, I got my long contracts on wheat and soybeans last Monday at their high prices and their prices went through a big dive during the week leaving me an\u00a0unrealized\u00a0loss of about $4000. \u00a0I am keeping the contracts to wait for their prices to go up to a point where I believe I could minimize my loss as much as possible (reducing the loss and risks induced by new\u00a0uncertainties, etc) .<\/p>\n<p>I certainly don&#8217;t like my trading game to turn into a loss minimizing game. \u00a0This &#8220;damage control&#8221; has become my overhead and a good reminder of me to stay on top of my tradings. \u00a0I will make new purchases as I find my\u00a0justifications\u00a0along the way with the daily news.<\/p>\n<p>So far, I have got news about soybeans<a href=\"#ref\"><sup>[1]<\/sup><\/a> which indicate there might be increases in the soybeans futures prices:<\/p>\n<ul>\n<li>export sales jumped to a three-month high last week<\/li>\n<li>oilseed demand is renewed by the price drop<\/li>\n<\/ul>\n<div><\/div>\n<div>On the other hand, USDA is going to release a crop report this coming Thursday(Oct 11) with the supply and demand estimates<a href=\"#ref\"><sup>[2]<\/sup><\/a>. \u00a0That will mostly likely become Thursday&#8217;s price indicator if not as much as causing the price spikes again. \u00a0 For making a profitable trade or for practice, \u00a0it would be worthwhile making effort to come up with an &#8220;estimation&#8221;\/rough guess about the situation before the report comes out. It&#8217;s good to take advantage of limit order as well.<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><a name=\"ref\"><\/a>References:<\/p>\n<p>1. Plume, Karl. (2012, Oct 5).\u00a0<em>U.S. corn eases on harvest pressure, soybeans level . <\/em>Retrieved from\u00a0<a href=\"http:\/\/www.grainews.ca\/news\/u-s-corn-eases-on-harvest-pressure-soybeans-level\/1001747419\/\">http:\/\/www.grainews.ca\/news\/u-s-corn-eases-on-harvest-pressure-soybeans-level\/1001747419\/<\/a><\/p>\n<p>2. USDA. (2011, Dec. 19). <em>Schedule of 2012 release dates of cotton reports issued by the U. S. Department of Agriculture.\u00a0<\/em>Retrieved from\u00a0<a href=\"http:\/\/usda.mannlib.cornell.edu\/usda\/ams\/CNAASRD.pdf\">http:\/\/usda.mannlib.cornell.edu\/usda\/ams\/CNAASRD.pdf<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As mentioned in the previous post, I got my long contracts on wheat and soybeans last Monday at their high prices and their prices went through a big dive during the week leaving me an\u00a0unrealized\u00a0loss of about $4000. \u00a0I am keeping the contracts to wait for their prices to go up to a point where [&hellip;]<\/p>\n","protected":false},"author":14442,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[568640,593792],"tags":[],"class_list":["post-91","post","type-post","status-publish","format-standard","hentry","category-the-road-ahead","category-trading-game"],"_links":{"self":[{"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/posts\/91","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/users\/14442"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/comments?post=91"}],"version-history":[{"count":5,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/posts\/91\/revisions"}],"predecessor-version":[{"id":100,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/posts\/91\/revisions\/100"}],"wp:attachment":[{"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/media?parent=91"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/categories?post=91"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/rosonluo\/wp-json\/wp\/v2\/tags?post=91"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}