Youngtrader's Commodity Journal

Well for today Im looking at selling oct/dec hogs. Just a good all around play here for a few bucks. Fundamentals look good and it also doesn't look to bad on a chart. We'll just have to see what happens I guess.

No changes in gold or treasuries.

I think im forgetting something..........
 
I did sell 2 oct/dec hog spreads yesterday at -2.00 I like this trade a lot and expect it to be a nice winner.

Covered my gold at 860. $9460 profit there. Finally after taking a 3k beating im getting paid :D

Still got my 2 longs in the 10yr.

Im thinking about buying spooz tomorrow........haven't decided yet.
 
Quote from youngtrader:

I did sell 2 oct/dec hog spreads yesterday at -2.00 I like this trade a lot and expect it to be a nice winner.

Covered my gold at 860. $9460 profit there. Finally after taking a 3k beating im getting paid :D

Still got my 2 longs in the 10yr.

Im thinking about buying spooz tomorrow........haven't decided yet.
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Good call with gold man. Nice to see you back posting.

Good Trading,

YoungOne
 
Quote from CollegeTrader:

How many contracts do you like to trade? good job on the gold call by the way
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It really depends on the situation to be honest. Like with the gold......it might of been a little too much leverage for my account but normally I will usually feel things out with 1 or 2 contracts and then add more as I see fit.
 
Quote from YoungOne:

Good call with gold man. Nice to see you back posting.

Good Trading,

YoungOne
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Thanks buddy. Yeah I have pretty much given up on my intra day trading. I just can't make a dollar when im trading intra day! I finally realized that day trading just wasn't the path I should go down. In my opinion position trading is where its at man. How many successful traders do you know that trading intra day unless they were down in the pits? I know of very very few and most of them haven't been that successful for very long. In my opinion day trading is just a simple churn and burn technique used by brokers and it gives the exchange liquidity. It is because of the day traders that I can put on a position at a fair price and hold it until profit (or loss :D ) Just my 2 cents though.

How have you been man? Still trading NQ?
 
I've been good. Still day trading NQ. It depends on your definition of day trading. There are usually 1-2 intraday trends with the NQ. I place like 3-5 trades a day trying to catch just one of those big moves. So I mean imho, if you are trading 1 minute, 5 minute, or 1 day charts, PA is PA. But if your just scalping for ticks and placing hundreds of trades a day than I do agree thats a churn and burn game.
 
Got out of my 10yr longs Friday for a 2 tick gain lol! Number was no good and options business in the pit was not too bullish so I dumped em. Im debating on what to do next (I have a short bias).

Did not buy spooz Friday but wish I would of. A break above Friday's high sets us up for a huge run higher. However if we start to fail here I don't think 1400 will hold us (we haven't been above it for long enough imo). I will look for an area to enter this week if at all possible.

I want to get short the australian dollar and long the canadian dollar this week too. I can't remember the levels but I want to get those trades done.

Hog spread is doing nothing much.

I want to get short vol in sep or dec corn but am not sure exactly how to do it yet.
 
I'm bearish corn over the next 3-5 months, you should look into selling bulk OTM calls like me. You can sell covered calls or not, im probably selling naked ones.

7.80 Sep calls - 21'4 (200 of those and you got yourself 20k come aug.)

9.00 Dec calls - 19'4

your going to have to sit with these for a while but i think the profit potential is huge, as long as the world doesn't end.

And since your pretty profficient with spread trading i'll give you this one.

Short july, Long Nov soybeans. Settled at +86cents. Every positive spread has gone negative. And this one will go in 2 months time. Full carry is like -.35 to -.45, so you're profit potential on this play would be like $1.00. (20 cars, thats 100k. If your balsy enough to do 200, 1 mil!)

May/Jul Wheat, $2.00+ at one point, trading -.14.

Jul/Dec Corn, .05+ maybe a month ago, trading -.15

These are just the 2 grain plays im lookin at now, what do you think?
 
Quote from Uncle_Ho:

I'm bearish corn over the next 3-5 months, you should look into selling bulk OTM calls like me. You can sell covered calls or not, im probably selling naked ones.

7.80 Sep calls - 21'4 (200 of those and you got yourself 20k come aug.)

9.00 Dec calls - 19'4

your going to have to sit with these for a while but i think the profit potential is huge, as long as the world doesn't end.

And since your pretty profficient with spread trading i'll give you this one.

Short july, Long Nov soybeans. Settled at +86cents. Every positive spread has gone negative. And this one will go in 2 months time. Full carry is like -.35 to -.45, so you're profit potential on this play would be like $1.00. (20 cars, thats 100k. If your balsy enough to do 200, 1 mil!)

May/Jul Wheat, $2.00+ at one point, trading -.14.

Jul/Dec Corn, .05+ maybe a month ago, trading -.15

These are just the 2 grain plays im lookin at now, what do you think?
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Uncle Ho (dude I love that name lol)

Thanks for the heads up on everything. You have some pretty good ideas. Im bearish corn also, everything imo is priced into the corn market and I expect crude to falter very soon and I also expect a pop in the US dollar. Which both are very bearish factors to corn. However I don't think it falls out of bed anytime soon. We need roughly 83 million acres this year to just keep up with current demand (thats at a trendline yield too).

I basically want to be short volatility in corn and if I can pick up a few bucks on the downside its just icing on the cake.

Im looking at selling like 6.00 straddles or like a 7.00/5.00 strangle (give or take a strike or two to make it delta neutral). Also maybe a butterfly might be in order also.

I deffinantly am going to get on those 9.00 dec calls though. For 20 cents they are an absolute gift man! I just hope you and me are the only ones competing for them because I want em all lol!

As far as the spreads go.......I haven't really been paying much attention to grain spreads but if given the choice I would want to be short july/dec corn and long may/july wheat. I have no opinion on the beans.

Good Trading Man
 
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