It was a week of turn around for equities. It has been a pattern of opposite push before FOMC. I have been more patience on not fighting the trend since I got burned so many times. Plus my available margins are low so I couldn't trade much in indices futures for the last couple of weeks. I got burned on VIX last Tuesday. My mistake was looking at wrong contract month so I let my guard down until the day before expiration. It coast me about $1500 for the mistake or the ignorance.
My losses continued to mount in grains. Wheat surged 7% for the week on Russian wheat export restriction. This pop really put me deeply underwater. My available margin was near 0 for two days. It was very stressful. I had to rollover and reverse more positions. Corn and soybean have weaken somewhat but mostly in range. I have decided to exit out soybean completely. Then limit my positions in corn and wheat until I can unwind them all together. It has been my biggest loss in trading. I followed my plan most of time in not adding new positions in grains. I need a more clear and disciplined trading plan for this volatile sector.
No comments:
Post a Comment