Trading journal – 10th December 2020
Commodities Bull Market
by commoditiesbullmarket
3y ago
The remaining contract I had in January copper I closed out. I have 1 in March copper and put a stop just under the overnight low (3.4500) at 3.4480. Market price is currently 3.4580. It has been a great run. I’m really happy at the moment. Still have a short position in the USD index. That’s not going anywhere at the moment, might have come back to test the level but it’s hard to read ..read more
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Trading journal – 30th November 2020
Commodities Bull Market
by commoditiesbullmarket
3y ago
I can’t remember having a run like this as has happened in copper. It’s now my biggest winner ever, unrealised at the moment and I’ve been moving my stops up as we go. Just such a relentlessly strong market. I think my previous best was about 35k and this is already at 55k USD. My stops are set at the equivalent of 50k profit. I realised I was at an inflection point in my decision making about 40k USD thinking this is great and happy with the gain but had FOMO about missing out on a massive winner should the trend keep going. I remember on one of my last big winners about how much more dramati ..read more
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Trading journal – 23rd November 2020
Commodities Bull Market
by commoditiesbullmarket
3y ago
Rolled my position, around 3.29, there’s not a lot of difference between December and January contracts. Finally decided to compromise on my desire to lock in profits by setting a stop for all 4 units at 3.2100. Set up my new stop orders every 10 cents roughly (every 3%) starting at 3.3245 all the way up to 3.7350 ..read more
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Trading journal – 22 November 2020
Commodities Bull Market
by commoditiesbullmarket
3y ago
My gold position reversed and netted out for zero gain. I went long copper at 2.95, then added 3.05, then again at 3.12 and 3.22. Going well so far but reaching the 5 year high, so likely some resistance around here and the contract roll due. The thought which has been circulating in my head is that when I roll the contract the variable PnL which is unrealised will become realised and the daily price fluctuations will start to show a loss. So I need to either be committed to a specific loss amount or move my stop up significantly. Just not an ideal time in the trend to get out. I suppose if th ..read more
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Trading journal- 7th August 2020
Commodities Bull Market
by commoditiesbullmarket
3y ago
Currently I’m still just on my 1 contract starting position in gold and it’s been good, I’m up about 25k USD on this one trade but I was reflecting on what the results would have been of I had pyramided into the trade every 3% (worked out from my previous two most successful trades on cocoa and coffee) as the number that would have kept me in the game. The difference between the two means I would have made about 111k USD by now, which is obviously significantly more but I would have been really worried about when to take profit because the gains were so strong. The issue pyramiding creates is ..read more
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Trading journal – 27th July 2020
Commodities Bull Market
by commoditiesbullmarket
3y ago
It’s easy to get caught playing the game of “if I had….”, so that’s the technique for me to practice at the moment: coaching myself or victory by not interfering and making peace with my past decisions. In this case it’s my dceios  not to add at regular intervals, so I can focus on letting this one run, the purpose being not to get caught out (stopped out) of a big move. In this case it makes sense, the pair is volatile and the factors driving the trade are unclear. How is this different from my cocoa or copper trades? I think it maybe feels like there are so many more different variables ..read more
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Trading journal – 25th July 2020
Commodities Bull Market
by commoditiesbullmarket
3y ago
Finally on a winner with gold. A couple of false starts, went long gold mini (YG) 16th April @1754 and 27th April @1734, got stopped out @1679 on 28th May. Then went long again at 1767 thinking it had finally broken through on 22nd June. Took that all the way up to 1799 on 14th July before I rolled into the full size gold contract GC @1802 for August. Sat on that position all the way through to now, haven’t added a second unit. That’s my current conundrum. If this is a long term move then I don’t want to endanger my position by getting into a situation where my breakeven price becomes endanger ..read more
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14th July 2020
Commodities Bull Market
by commoditiesbullmarket
3y ago
I’ve been doing a lot of work recently both preparation and development across a range of areas both from a technical side in the sense of building my programming skills and also from a level of emotional development for my trading. I came across this today while reading a book called Letting Go and it is the second of which by the same author that I’ve read recently: “Feelings are the accumulation of thoughts that ultimately come from attachment to an idea or an outcome so what is the outcome that I’m attached to that’s causing the problem” This is very similar in theme I feel too what Ed Sey ..read more
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Trading Journal – 28th April 2019
Commodities Bull Market
by commoditiesbullmarket
3y ago
I think taking time out is a really important part of recovering emotionally as a trader and that is definitely something which applies to me at the moment. After being wrong on the US equity markets and general risk off sentiment I needed some time to recover and get back in control of my decision making rather than trying to chase a recovery win. Also doing something outside of trading which has a positive outcome and has a building aspect to it was another good idea, in my particular case it was looking to climb some mountains overseas which will require some planning and also some goal set ..read more
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Trading journal – 15th April
Commodities Bull Market
by commoditiesbullmarket
3y ago
Just got back from 2 weeks holiday in China, some interesting moves over this time. Major surprises for me were: the equity markets continuing to push on, I really thought they would fail near the 200 DMA. cocoa spiking with a large rally, circa 10% up to 2450. Orange juice CRUSHED all the way down to 106. grains have continued lower oil continued higher. not so surprising but perhaps reassuring palladium finally having a pull back circa 10%, was into the very high %’s distance away from the 200 DMA so betting on the 10% pull back when the price goes more than 18% from the 200 DMA would hav ..read more
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