The CME website says there's no daily price limit on hogs. Reduce size here at 111.30. My first loss of this thread was bound to happen eventually. Even Michael Jordan lost the occasional game here and there. http://www.cmegroup.com/trading/agr...ns.html?optionProductId=21#optionProductId=21 I'm not making light of anyone's losses. I have my own 5-figure drawdown today from this lousy Islamic trade.
the recent margin hikes didn't do a whole lot of damage on this one thus far. Hope ya get out ok nonetheless. Thx for sharing.
Oh, you're right! Thanks! Maybe I shouldn't mention it here, but I'm putting some size back on (short) right here at 111.50. To be exited by the end of the day, no matter what happens.
After taking such a brutal loss on a trade I originally had high confidence for, my confidence is (temporarily) shaken. Maybe this PED virus thing is far worse than us industry outsiders have imagined? I don't exactly have a bunch of hog farmers in my contacts list. Regardless, I'm thinking that if the market is still locked limit up at 1:00 PM CST (2:00 EST), it's time to put in a bid and just get out. (You can get filled at limit up, it just might take a while.) P.S. In IB's TWS, how does one display S&P futures premium/discount over cash? This should help, but it doesn't: https://www.interactivebrokers.com/en/index.php?f=daily_analysis&p=futures Thanks.
On second thought, rattled post-loss as I am, I'm just bidding here at limit up (111.675) to make sure I get out today. Assuming we get over 1,000 more contracts traded by day's end (a near certainty), that's the official end of this miserable trade. My condolences to anyone who followed me in... but still my overall record on this thread has got to be something like; Wins: 25 Losses: 1 Pushes: 1 or 2.
My first trade with you That's always happening when I'm trying to piggyback any market guru Please don't give up and post more.
What was the percentage hit you took on liquid net worth if you don't mind ? What is your avg risk per trade in percentage terms? I ask to benefit those who may be following calls so they don't blow themselves up or keep adding into the abyss.