This will be a combination of weekly and monthly reviews since it is the end of August.
It was a small profitable month after two big losing months. It gave me a little breathing room. However I am not out of woods yet. There are many positions out there from Sept to next Feb in grain complex. Their outcome are still unknown.
I am more cautious and patience now after the losses of June and July. Over confidence is the sign of trouble. Be humble to Mr. Market.
Be ware of out of balance portfolio. I just notice the other day that I have more positions in soybean than in wheat and corn. soybean is the one with higher margin and more bearish trend. I will stop selling soybean options after my current positions expires. I kept fighting for my losing positions which will lead into bigger holes. I should be willing to accept losses and walk away. There will be other opportunities along the way.
Be willing to take stops base on my rules to minimize my losses. I seam doing better in indices than commodities. I have learned each one the hard way.
Be clear with the size and risk levels with direct options hedging strategy. I took some loses in August during the consolidation period. I wasn't clear how many contract I should enter to offset my other positions.
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