In the week before last week (Sept. 9th to 15th) I made two contracts on wheat and corn.
Based on the article “Drought’s Grip is wide and deep”, it is believed that wheat and corn prices were increased since the supply shock coursed by drought in the US. And these two contracts are also profitable.
However, last Monday, bad news for price comes out from The Wall Street Journal, “Soybeans, Corn, Wheat Fall Sharply” http://online.wsj.com/article/SB10000872396390443995604578002130070385440.html?KEYWORDS=wheat
Thus, I decided to short on all wheat, corn and soybean in Tuesday, however, I missed the turning point, which means I short on these three commodities too late and I lost few hundred dollars.
Because of the coming fall and expectation of soybean harvest, I decided to hold these contracts for a relatively longer period. However, I lost more than $2000 till last Friday. According to my analysis, that is because of the deduction all over the world.
Don’t get frustrated on loss and keep trying. Please comment on the equity balance, and if you need help on it, let me know.
Dear madam :
I am in trouble with posting new blog at home with my own laptop so in last two weeks I save my blogs as draft and publish it every Monday in Irving Learning center. Hope that you still remember to read my blogs, though its a little bit late.
plz forgive me for this time, I will publish my blog this weekend ON TIME, before Sunday.
yours
Tai Shi
Got it. Thanks.