Last week, I choose to go long about the corn and soybean.
The result turn about to be the diagram below:
Today, I decide to close one contract, the reason is quiet simple. I need to stop loss at this moment. Reviewing last week strategy, the reason to go long on both contracts is I believe the market will rebound in the near future. I pick the wrong time to get into the market. Although the stockpiles about soybean and corn are very low, the market was already responding. Adding to the effect of speculation, the price of corn and soybean is on a relative high level. Thus, the price of corn and soybean should be decline in a relatively long future.
Another reason that leads to my failure is not doing any technical analysis at all. Thus, this week I combine the results about both technical analysis and fundamental analysis.
Learn from the last week poor performance, I will change my strategy into short on Corn and follow the news more frequently.
There is the some cool new resource:
http://www.indexmundi.com/commodities/?commodity=wheat
Hi Victor,
Thank you for sharing the new source. It is a cool source! It’d be appreciated if you can include some comments about the new resource; for example, what it is, and what kind of info you used from it.
PS: I can’t see the image in your posting.