Something beside trading

My portfolio summary for Week 3

 

Nothing expect wheat received positive return.

My feelings: Terrible. Because I actually fall behind for the whole week ( not the ranking but how much I really “learned”), let alone my goal of getting more insight into trading!  I did some impulse trading based on the recent news hoping to gain from the short trend. But everything turned out to be quite messy. I knew from the Monday morning that I should short corn but I did something else, too lazy to catch the chance at the right time.

Just have a brief overview of my week 3 trading before moving on to the lessons learned:

1.About my darling cattle

I strongly recommend Airlie’s blog “Just an Udder Trading Week” for live cattle, Interesting and insightful, looking through her blog made me feel that any word from me would just be some minor repetition but much less attractive 😛

2. Milk, what did I do?

I made a stupid some mistake again… see what did I bought, a futures contract of September 13^th?  That’s what I got from a whole night’s sleeplessness…

So do not attempt to make important decisions without a good night’s sleep. ==

3. Corn, painfully say goodbye

Finally I decided to close my position even though I belive the price would bounce back sometime later. I wanted to short it on that day and probably buy it back the next day—just to win a small margin, but the fact is: I forgot about everything the next day, so I lost the chance, and now even more loss.

Feeling reluctant to say anything more about other commodities, I thought about buying more diversities every time I see some positive signals in new area. However, I did refrain myself doing so.  Now I just think– why not?

What I harvest:  First try in short, stop and limit.

Something besides trading:

1.It seems that what we’ve learned in 585 applies well into futures trading: 

a. Good decision don’t always get good outcome, something out of our control is always happening.

b.Prediction is based on historical information, but it never gets to the right result.

2. What I learned from my fellow peers:

G: Get valuable information on Monday morning and make wise decision.

V: A tiny mistake at the beginning may grows to be fatal, searching for help and suggestions from wise peers and keep a positive attitude, nothing can prevent us from getting lessons and learning new things even if we were in the worst position.

A: Passion, insight…. Orz

3. Lazy kills me. 

4. Balance my life. Sometimes I find the simple reason that I did not achieve the goal I set is simply because I did not balance my leisure and work well. It is more than just study, but about how to live a life.

5. One harvest what he sowed. I simply did not pay enough effort on the trading this week, and my decision was too impulse and non logical, my loss in trading and now painful feeling of writing this blog are the result.

I decide to work hard, and as Jim said, put unnecessary things on hold. The future “me” will be thankful to a hardworking “me” at present. Same to everyone.

Good luck!