Week 5 – Road Ahead

Be confident in my speculation! Don’t have too many second thoughts and try taking some small risks by investing in two-three contracts.

Close monitor of changes in market sentiments, and global supply and demand helps improve my strategy on trading

I will not trade on long term basis for my short/long position contracts, since there are many market uncertainties.. I would rather trade on weekdays going in and out of the market before TradeSim System stops trading on weekends.

I should also consider upgrading my cellular to a smartphone for updates on price quotes on a more regular basis. This keeps me in sync with the market.

With the lag in the tradeSim system in executing my contracts, I should invest few hours in advance before any price change takes place that affect my position value, causing unnecessary losses.

This past week, December wheat prices rose from a low of $846.6 to $860.20. Similarly, corn prices rose from a low of $626.3 to $634.6. I think prices for wheat and corn will trend down at the beginning of this coming week. Therefore, for next week or so, I will stick with short on wheat and/or short on corn in the first three days. Later on, depending on the market situation  I might stay on or change my position to long again.