Last week, I choose to go short on four contracts.  3 of them short on corn and 1 short on Soybean.   On Monday, the market price declined to the lowest in this week.  My price in soybean is 1492 and Corn is 742.    Unfortunately, I suffer loss another $3299 this week.

The trend of soybean and corn is downward sloping.  After a fierce drop lasting from last weekends to Monday, traders seem a perfect opportunity to buy in.  This could be a critical reason why the market bounce.  Also, from USDA report, the corn harvest level is lower than expected in revised report. This is a bullish sign for corn.

There are several lesson I want share:

1. Do not follow the hurde.  Last week, I choose to get into the market after seeming the corn and soybean price crumble down at the weekends.  However, the trading system takes time to execute my order at the lowest price before 4:00pm.  This give me a big surprise.

2. Do not get stubborn. I should get out of the market at the first day. On Monday,  I made 1000 gains.  Although I did make some money, I overestimate the possibility of oversells.  At the same time, underestimate it is a great opportunity for trade to go long at relative long price.  The price fluctuate a little bit for the next two days.  But I still hold the contracts.

Reference:

http://www.agrimoney.com/news/corn-making-below-average-start-in-south-america–5122.html

http://futures.tradingcharts.com