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TRADING THEORY—This is an outstanding rule to understand as when a market trades limit down such as what cotton did in today’s trading session that tells you there is a high probability that prices will open lower on the open in tomorrow’s trading session as buying limit down is a fool’s game. Remember when a market closes limit down there…
How long does a meaningful consolidation has to last before you enter a trade ? In my opinion I always want to see a consolidation that lasts at least 8 or more weeks before I would consider entering. The reason that I want a longer consolidation is to try and avoid a bunch of false breakouts such as a 10…
Live Cattle Futures—-Live cattle futures opened sharply lower this Monday afternoon in Chicago down 180 points at 122.50 in the April contract reacting negatively off of the cattle on feed report which was released last Friday sending prices to a 3 month low. I have been recommending a bearish position from around the 124.50 level and if you took that…
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10 Year Note Futures—The 10 year note in the March contract is trading higher for the 3rd consecutive session up another 16 ticks at 130 /25 as there is sheer panic of the Coronavirus spreading throughout the world sending the stock market down nearly 500 points as money flows are going into the bond sector at this time. I have…
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What Does Risk Management Mean To You? I generally tell people that the reason people lose money in commodities is not due to the fact that they are bad at predicting where prices are headed, however they are bad when it comes to losing trades and refusing to take a loss which results for heavy monetary losses that are difficult…