The long waited USDA grain report came out today. It lowered stocks and production estimate for soy bean and corn. Soybean's price jumped over 40 cents and corn up 11C. I entered a corn put sell order in the heat of the movement. I made the direction of the trade right by waiting for the price break previous day's high and pull back. I also made mistakes in fear of missing the bus. I didn't give a far enough OTM for an entry to be safe. Instead I just simply added to my 650 position which is only about 10 point away. 2nd, I didn't use option's chart to get a good entry price. I left about $100 room there. I need to force myself stay away from my trade station during market's big events.
ES traded in a range bound today. It touched my lower trend line overnight and bounced to the upper trend line by end of the session. It was a methodical move in a slightly down trend. ES still under BBD/M. I may have to get of my 1645 position if ES can cross up the mid line. It has 4 days and 40 points left. I wouldn't consider it very safe at this point.
No comments:
Post a Comment