Doing nothing when I should be buying
I seem to have a very unique ability to tell when the market is about to change directions and start moving the other way.
I have been buying May 06 corn all the way down from 240 when it got to about 224 I stopped buying and the price continued to drop to 217.
The day it was at 217 I remember looking at it and thinking – gee it’s just going to drop forever, after it drops some more I will start buying again and buy some at a really cheap price.
The next day the market started up and went back to 224 while I just sat round and watched. My brilliant plan to wait until it gets to 210 or something to start buying again was washed out.
If I had stuck with my scale I could have purchased a contract at 218 and sold it at 224 for a $300 profit. But I missed out on that one.
I need to start doing just the opposite of what I feel like doing, when I am sure the market is going to fall to nothing, I should be buying all I can. When I know it has to go up then I need to immediately sell everything I have.
I have been buying May 06 corn all the way down from 240 when it got to about 224 I stopped buying and the price continued to drop to 217.
The day it was at 217 I remember looking at it and thinking – gee it’s just going to drop forever, after it drops some more I will start buying again and buy some at a really cheap price.
The next day the market started up and went back to 224 while I just sat round and watched. My brilliant plan to wait until it gets to 210 or something to start buying again was washed out.
If I had stuck with my scale I could have purchased a contract at 218 and sold it at 224 for a $300 profit. But I missed out on that one.
I need to start doing just the opposite of what I feel like doing, when I am sure the market is going to fall to nothing, I should be buying all I can. When I know it has to go up then I need to immediately sell everything I have.
