Salute to you Do you use research reports of any sort or just pure TA? No worry, I am not planning to squeeze every bit of your strategy out of you.
Over the past few weeks I decided to read some seasoned traders/analysts comments so as to have an idea of market sentiment and what I could figure out is that they also are lost, changing their opinion and fundamental justifications according to the ebb and flow of the markets. One of them who has proved to be the most experienced and has had the most successful calls was very enthusiastic a few weeks ago when COT reports showed that small speculators were net short the soybean complex. He concluded that the setup was "very" supportive for a continuation of the uptrend, in spite of the overbought condition. Since then, what I can say, is that we have witnessed a slaughter... This trader seems to be working mostly with day-to-day price action and trend direction rather then with complex TA.
Doesnt matter. I use TA for my entry choices, but I watch the price action for my decisions.... I dont know how to explain it, but I get a feel for it.
Your post reads like something out of a medieval torture chamber. Is someone making you trade? If you haven't demonstrated that you have an edge (and you have actually demonstrated quite conclusively that you do NOT have an edge) - why would you be so possessed to just throw your money away? You should be scared! :eek: Trade on sim until you've proven to yourself that you can consistently make money. Then, when you trade you have little reason to have fear. If you can make money on other instruments - why trade ag at all? R
I daytrade the ES. The method I use does not have opportunities presents itself every day. Therefore looking for something else. I am finding vehicles to swing trade. I think Ag trends pretty well for swings, but perhaps there's more to Ag than just TA. That's what I am trying to figure out. Maybe Ag is just simply not for non-farmer, the faint hearted or the small accounts, and I should seek elsewhere. Curiosity kills the cat, but some cats are just curious by nature. What to do?
I had a distant relative who made millions trading grains. He died 10 or so years ago in his 90's. He was also a farmer (made most of his money trading though) and I'm sure he started trading in order to hedge. I have no idea what style of trading he used, as I was not interested in trading while he was alive and only was able to piece some things together recenly from other relatives. He never owned a computer, so I'm guessing he was a position trader. I suppose his knowledge of farming could have helped his trading. He farmed corn and soybeans in norther Iowa. Pretty sure that was what he traded as well. You never would have guessed his net worth, as he lived on his farm, in his same old farm house up until he died. He never married or had children, so my aunt, uncle and cousins from became wealthy instantly once he died. I definately regret not talking to him about trading, but unfortunately I was fairly young when I was around him and only saw him at family gatherings occasionally.