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\u20194. The most recent price Sunday evening was 743\u20192 which would net me a slight profit, however Tradesim maintains the Friday close of 748\u20192 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\u2019m 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. \u00a0So 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).<\/p>\n","protected":false},"excerpt":{"rendered":"
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\u20194. The most recent price Sunday […]<\/p>\n","protected":false},"author":14669,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blogs.ubc.ca\/spledger\/wp-json\/wp\/v2\/posts\/6","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ubc.ca\/spledger\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ubc.ca\/spledger\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/spledger\/wp-json\/wp\/v2\/users\/14669"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/spledger\/wp-json\/wp\/v2\/comments?post=6"}],"version-history":[{"count":2,"href":"https:\/\/blogs.ubc.ca\/spledger\/wp-json\/wp\/v2\/posts\/6\/revisions"}],"predecessor-version":[{"id":8,"href":"https:\/\/blogs.ubc.ca\/spledger\/wp-json\/wp\/v2\/posts\/6\/revisions\/8"}],"wp:attachment":[{"href":"https:\/\/blogs.ubc.ca\/spledger\/wp-json\/wp\/v2\/media?parent=6"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/spledger\/wp-json\/wp\/v2\/categories?post=6"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/spledger\/wp-json\/wp\/v2\/tags?post=6"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}