Youngtrader's Commodity Journal

Rtrader2525 · Jan 14, 2008

congrats on 6 dimes my friend thats awesome, im up about 15 dimes thus far but i trade too aggressive sometimes and tend to have horrible swings and massive drawdowns, something I need to work on

YoungOne · Jan 14, 2008

Quote from youngtrader:

Rtrader2525

Thanks, im trying my best to get to my goal this year and hopefully there will be more profits to come but no doubt there will also be draw downs.

Total profit this year is $6,747 so far for those who care.

That's awesome man. The market presents great opportunities when we are in panic. Keep up the good work.

youngtrader · Jan 15, 2008

Quote from Reaver:

You twisted bastard...I like your style! LOL

Nice trade on the Pound, now let's see if she'll go up.

LOL yeah thats me the sadistic 17 year old trader (I can't help it).

I think the pound could easily pop to 2.00 before we make our way back down to 1.85. We are stronger this morning up 70 ticks. The volatility sucks right now so im getting kinda bored.

youngtrader · Jan 15, 2008

Quote from Rtrader2525:

congrats on 6 dimes my friend thats awesome, im up about 15 dimes thus far but i trade too aggressive sometimes and tend to have horrible swings and massive drawdowns, something I need to work on

Thanks a lot! Nice work so far if your up 15 already. Agressive trading can be good though except for the draw downs. My dad used to trade the same way. Big contract size and holding through good times and bad.

youngtrader · Jan 15, 2008

Quote from YoungOne:

That's awesome man. The market presents great opportunities when we are in panic. Keep up the good work.

Thanks man I appreciate it! I agree the market will present its best opportunities when everything is going to hell.

usman88 · Jan 15, 2008

Quote from youngtrader:

usman88

Thanks a lot for the heads up on oil and for the warning earlier. I appreciate it a lot!

Im out of all 3 contracts though at 92.78. Total profit $4,770. Not bad but I didn't expect this pop and im not letting them take away all that cash.

Currently im mixed technically in crude. Im watching for either a break above todays high or a break below todays low. It could go either way but we are getting a little oversold so my thinking is we might get another pop tomorrow and I might be able to "position scalp lol" the crude market with a long on a break above todays high for $ .50 If not then I will look to get short below todays low. My longer term bias is still lower and I look to maintain that bias until we reach 78-80 level on march crude.

Out of all my es positions today at 1410. $1,187 profit there. Im kinda upset about it though. I honestly thought this thing would just plummet but it doesn't look as though the time is right yet. Im staying on the sidelines until im sure we are going down the drain.

usman88 what is your thoughts on crude after todays close? I know you said 94.43 is a nice short but were you talking intra day or for a longer term trade like im doing?

Thanks

i m a daytrader and wht i meant was that it was a good short for a $1 move. However even on a longer term perspective(1 week) crude is going down. I would say that if someone is short be careful around $90/$91

youngtrader · Jan 15, 2008

Quote from usman88:

i m a daytrader and wht i meant was that it was a good short for a $1 move. However even on a longer term perspective(1 week) crude is going down. I would say that if someone is short be careful around $90/$91

usman88

Awesome call on the crude! I was lucky to get short 1 contract at 93.42. Got out at 91.42 for a $2000 profit on the day!!! I was going to hold because all systems seemed go for us to trade lower tomorrow but I chickened out lol! Looking back I wish I would have held short and added more contracts but like always hind sight is 20/20.

usman88 · Jan 16, 2008

dont worry
crude is going back to 9250 today however I would suggest u carefully evaluate the inventories and make a decision then

youngtrader · Jan 18, 2008

Shorted 5 british pounds at 195.60

Looking to get long euro at 147.10........maybe

Also looking at getting short the bobl pretty quick.

I know this isn't my usual trading and that my posts are not near as entertaining as they once were but to be honest trading these financial futures has been really good to me and I don't want to change a thing.

Its funny, I could tell you more about corn, wheat, beans, hogs, cattle, etc than just about anybody but the things I don't have a clue about (pound, euro, bobl, schatz) I make the most money on. I am starting to think that having an opinion about the longer term fundamentals of that particular market can actually hamper your trading. Knowing a lot about a particular commodity contract can hurt your trading of it? Weird!

Asparagus · Jan 19, 2008

watch the long side of the EUR/USD, this thing is starting to spin its wheels. the USD 'should' be crashing through the floor here - FFF now calling for .2 prob. of 100 basis point cut and the euro rallies then closes on its lows twice in a row....

Quote from youngtrader:

Shorted 5 british pounds at 195.60

Looking to get long euro at 147.10........maybe

Also looking at getting short the bobl pretty quick.

I know this isn't my usual trading and that my posts are not near as entertaining as they once were but to be honest trading these financial futures has been really good to me and I don't want to change a thing.

Its funny, I could tell you more about corn, wheat, beans, hogs, cattle, etc than just about anybody but the things I don't have a clue about (pound, euro, bobl, schatz) I make the most money on. I am starting to think that having an opinion about the longer term fundamentals of that particular market can actually hamper your trading. Knowing a lot about a particular commodity contract can hurt your trading of it? Weird!