It was a Christmas holiday week. Markets had irregular schedules and low volume. Indices continued making new highs. My indices options produced most winners in bull puts and recovered losers. I made another similar mistake by missing minus sign in a credit spread. Took a stop in ES based on my rules didn't feel too bad. I had anxiety of wanting to enter recovery order right the way. I can be more patience next time and wait for a better entry base on market conditions.
As for grain complex the losses continued. Wheat had some sharp movement due to Russia's export restrictions. The hard lessons I have learned: 1. I jumped in a market I didn't know enough of it. 2. Grain markets are very volatile and seasonal. 3. I didn't have a strong discipline to properly manage my risk. I rolled over so many times on both long and short causing more losses and extended my holding periods.
I followed my plan to reduce my holdings in grains. The positions sizes became more manageable and my margin backed up to a relatively safe levels. I will eventually reduce my grain trading to a secondary level.
It's time for my annual review and plan for 2015 next week.
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