Cotton is Up
Cotton is up again for the 2nd day, I made $1900 yesterday and $1875 today.
Cotton trades for $500 per point but I started in this scale late and I bought in with market orders so I got fills that were not even.
It is starting to look like the Hurricane Kendra is going to have an effect on cotton market after all. It has been a week now with no movement in the price. Now I am starting to wish I would have purchased some more cotton when the storm hit.
But tomorrow the price will drop and then next week the news will come out that the Hurricane brought more water with it and that is just what cotton needed to produce the best year ever, and that’s why priced took a nose dive last week.
I am done playing the news. The only thing I may look at is buying one or two extra contracts when a big storm hits.
Other than that I will just keep my sell orders in like normal and be happy with the profits I do get.
Cotton trades for $500 per point but I started in this scale late and I bought in with market orders so I got fills that were not even.
It is starting to look like the Hurricane Kendra is going to have an effect on cotton market after all. It has been a week now with no movement in the price. Now I am starting to wish I would have purchased some more cotton when the storm hit.
But tomorrow the price will drop and then next week the news will come out that the Hurricane brought more water with it and that is just what cotton needed to produce the best year ever, and that’s why priced took a nose dive last week.
I am done playing the news. The only thing I may look at is buying one or two extra contracts when a big storm hits.
Other than that I will just keep my sell orders in like normal and be happy with the profits I do get.
