You can't win them all

Unfortunately you cannot win them all.

Up $140 on Oil

Up $120 on Nat Gas

Ooops getting smashed on Soybeans down $412

Important to remember losses are inevitable.

Cheers

Blackduck

2 Likes

Soybeans can make and break you…in the same day! Lately I’ve been staying away from them, unless it’s a very small position.

Hi MattyMoney

Yes they can. I normally trade bean oil rather than Soybeans. That oil trade almost turned sour as it missed my take profit target and I closed for a $380 loss. But than goodness I re-entered long and picked up $500 on the turn so I finished $120 up.

Happy Trading

Blackduck

2 Likes

Do you always use OHLC bars? I tried them but could not get used to them. I miss the visual feedback of candlesticks. :blush:

1 Like

I hear soybeans are a tough trade.

Hi QuadPip

Yes I like them and that is what my first mentor used so I got use to them. However I agree that candle sticks are far more visual and I believe in some cases easier to read and understand.

Cheers

Blackduck

Anything is tough to trade. There are no easy trades. The big issue with the grains is that the traders regularly run stops and the grains are very seasonal and susceptible to weather conditions.

At $12.50 a tic they can give you good profits or kill you with big losses.

Cheers

Blackduck

Nice one.
Might be looking at a short here on the 4H, we’ll see if it’s a fake out. If it bounces back down I’m getting in with a small position.

You maybe right.

I like the small bear flag on the 1 hour chart so there is a strong chance of another measured move down. But the daily price is at the 50% of the Fibonacci and a lot of the time you will get a bounce off the 50% before price resumes down.

I’ve lost enough on this instrument so no trade for me.

Good Luck

Blackduck

Using a trailing stop on the GBP. Up $112

Just moved my stop.

Cheers

Blackduck

Damn beans :persevere:

Still not a bad day

Cheers

Blackduck

They still look bearish long term, on the weekly. I have a very small (236) short I’ll hold for a while.

Yes that weekly looks good. At the top of that channel. Hope it goes well.

Cheers

Blackduck

For sure such things happens no matter your actions or goals anyway for whatever reason being done here. I am not able to make them possible anyway. IT’s remember to learn to handle losses anyway for everything there, correct ? So do I .

I’m sorry but this comment has got lost in translation. :confused: :grimacing:

Cheers

Blackduck