I have been considering investigating trading soybeans for awhile now.
I know a local in the pit and I asked him why soybeans, his answer still resonates with me. He said because he only has to focus on soybeans, nothing else. He's not worried about what the bonds or s&ps are doing and how that might effect his positions, just has to worry about the beans. He also mentioned that being in the pit gives him an edge but he could really teach it, he's been down there for 25yrs. He said sometimes it will look great on a chart for an upside breakout for example, but when he looks to the option pit it's dead and he knows he should get out of his long and go short.
How volatile are the beans after the pit closes? Meaning would it be suicide if I only traded during pit hours but took positions overnight?
I know a local in the pit and I asked him why soybeans, his answer still resonates with me. He said because he only has to focus on soybeans, nothing else. He's not worried about what the bonds or s&ps are doing and how that might effect his positions, just has to worry about the beans. He also mentioned that being in the pit gives him an edge but he could really teach it, he's been down there for 25yrs. He said sometimes it will look great on a chart for an upside breakout for example, but when he looks to the option pit it's dead and he knows he should get out of his long and go short.
How volatile are the beans after the pit closes? Meaning would it be suicide if I only traded during pit hours but took positions overnight?
