Equities and indices maintained a strong up trend into earning season. ES is only a throw stone away to the big number of 2000. Grains popped in the last three days of the week as they reached major monthly support area and sellers covered their shorts to the expiration.
My draw down of July came to the end as the monthly options expired on Friday. My rightness and mistakes shown in the result. Made some money on buying corn puts to offset losses. I held the urge of selling corns because the trend is clear down. I probably avoid some future losses.
My little dip in to sell soybean and corn in June in hope of offset wheat loss turned into a bigger loss than wheat. lack of discipline cause me too much. Got to remember the thinking process lead me into a big draw down. The mistakes I made in trading grains in June and July wiped out my 2014 entire gains of nearly $50K. What have I learned from these mistakes? Remember: If you keep doing what you are doing you will keep getting what you are getting.
It's going to be a long road to a full recovery. So far I am looking at 5 month out, may be even longer.
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