Sean Pledger

For my inaugural trade in agricultural commodities I took on the role of a technical trader. Based on the steady decline in corn futures since the end of august I predicted that this trend would continue and took a short position on December corn, buying in on Tuesday at 745’4. The most recent price Sunday evening was 743’2 which would net me a slight profit, however Tradesim maintains the Friday close of 748’2 which results in a loss for the week of -$137.50. This volatility characterized the week with some days closing at a net profit and others closing at a loss. When December corn closed lower Tuesday than my purchase price and I was up nearly $300 dollars on the day there was a rush of excitement that I’m sure traders must lust after. When it closed above my purchase price on Wednesday and my $300 profits turned into $700 losses a gut wrenching fear replaced the excitement.  So if I had to make a clear point on what went right or wrong it would be that I managed to push aside any emotional reaction to price and maintain the short position. I bet on a long term trend and I intend to stick it out (for now at least).