Youngtrader's Commodity Journal

Was in chicago at the cbot all day yesterday visiting a friend and was in the market to buy some march corn around 385 but no such luck. Everyone that is bearish corn is already short. I plan on buying dips in corn all the way until this spring and maybe even longer.

Thinking about selling s&p futures next week. Im bearish the stock market and will look for short setups on futures around 1545. With the continuating fall of the dollar and oil near $100 along with gold at 800 this economy is in far worse shape than ever imagined. Oil is rising because of the falling dollar not huge demand or a strong economy. People are running to gold for obvious reasons.
 
yeah not a problem. Im using northstar commodities for a broker and they clear through man financial. Bankroll size is a little over $10000. I take draws often but like to keep account balance at $5000 at least. Total profit since starting this journal is around $8500.
 
Everything getting pretty beat up this morning so im gonna hold off on the long corn. I think I can get long at better prices and if I could around 370 or so it would be a blessing. Stock market going to hell really fast so doubt it will pop this week to confirm my setup but I might just sell a few anyway. Looking at long march sugar #11 hear. Cant remember at what price but its around the bottom of a uptrending channel. Also a seasonal trade. Would like to get short july wheat but waiting for a little pop first if that ever happens.

Lots to look at today so its gonna be a busy day but should be some good trades.
 
Well not much really happened today. Couldn't get any sugar bought at my price of 975 but will keep an order in to get some bought at that price. Didn't buy any corn (thought about 390 level but decided not to) and didn't sell any wheat (looking at 695 level hear). Stock market plunged today so no way in hell its gonna test my level to short it.

Still have my apple 200 nov call (which I shorted at 3.00) and my march 350 corn put (which I shorted at 12).

Looking towards tomorrow for an opportunity in eather corn, wheat or sugar. Stock market just not gonna happen this week.
 
Sold 2 july wheat at 693 today. Should of just waited for 695 like I talked about but we might not make it there and im not missing out on the big new crop wheat decline coming up! Dad was questioning me this morning (before school sitting around having breakfast) about taking a grain position before the report. I understand his thinking but I don't expect the report to be to volatile and neather does anybody else. With outside markets the main focus the crop report will be a non event. Looking to pick up around a buck on this trade so we will see what happens.

Looking to sell 1 march/oct bean oil spread at even money if I can get it done. Bean oil plants closing all over Iowa which should pressure upfront months but I think there is some strength in the far outs. Its also a 100% seasonal trade to sell the spread here in december.

I try and I try but I still can't get any sugar bought at a decent price! Looking for somewhere around 975 on march. Just keep trying I guess.

Sold 1 emini s&p today at 1500. A smaller trade but I have so much on the table right now and with as volatile as this market has been I think I can only handle 1 emini so I can sleep half way decent at night lol! I talked about shorting at my level of 1545 but no way that was gonna happen this week and things seem to be picking up momentum to the downside so I thought what the hell its only 1 contract. Has started off as a really nice trade so far and looks to get even better.

Current positions:
sold 1 nov 200 apple call @ 3.00
sold 1 march 350 corn put @ 12
Short 2 july wheat @ 693
Short 1 emini s&p @
 
Well s&p futures up a little this morning but I believe if we are up on the day it will be extremely small. This market is still headed lower, probably to 1450 area or so. Hell depends on how im feeling but I might add another short or two if we get a little pop.

Wheat flat on the overnight. This is going lower. I think usda has acres a little low so tomorrow should be interesting.

Will be looking at the bean oil spread and looking at sugar but doubt either will happen. Might try to buy some corn if it gets beat up. I am extremely bullish corn.
 
im very bullish corn as well, they are gonna tear up all that ground and plant wheat.(why wouldn;t they) 7.00 new crop is unheard of. look into some wheat corn spreads my brotha
 
im very bullish corn as well, they are gonna tear up all that ground and plant wheat.(why wouldn;t they) 7.00 new crop is unheard of. look into some wheat corn spreads my brotha
 
Great Journal.

It would be nice if you could post charts as well, illustrating the points you are talking about.

You're off to a great start as a trader, but try not to blow off the school'in too much. The social connections, degreee and genral education will prove to be invaluable every day of your life, and the discipline it enforces does not have a dollar amount attached to it.

If this Journal is any kind of an example, you'll have plenty of time to make all the money you want.

Good trading,

JJ
 
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