Trading Cotton Futures
Last week I had a sell order in on cotton at 56.95 the market climbed up to 56.80 so I had a profit of $900 and I was shooting for a profit of $975.
My orders had already been entered so I usually don’t change them once I enter the order, I just wait for it to hit my price.
Well 3 days later cotton has dropped to 54.00 a full $500 below where I bought it.
This is one of the down sides to scale trading. Sometimes the Market will just miss your orders and turn the other way. Of course if it had climbed another 15 points before it fell and filled my order then I would have looked like a genius commodities trader.
But now I just look like I wasted a $900 profit for nothing.
So I may have to wait a few more months for it but I will eventually get my extra $75, I just don’t know when it will happen.
My orders had already been entered so I usually don’t change them once I enter the order, I just wait for it to hit my price.
Well 3 days later cotton has dropped to 54.00 a full $500 below where I bought it.
This is one of the down sides to scale trading. Sometimes the Market will just miss your orders and turn the other way. Of course if it had climbed another 15 points before it fell and filled my order then I would have looked like a genius commodities trader.
But now I just look like I wasted a $900 profit for nothing.
So I may have to wait a few more months for it but I will eventually get my extra $75, I just don’t know when it will happen.
