Has been working pretty well the last couple of weeks. Don't know how long it will continue to work, but if you got the balls to try it, you should book some nice profits while it lasts. Here it is: 1) Only go long 2) Do not enter any trades in the first 15 min (or overnight) 3) wait until the price drops to the first pivot support (S1) and load up on as many contracts as you can with 2¢ risk. For example if you can only risk $500 then trade 5 contracts As far as exiting - your on your own. Good luck!
Only go long . . . nice while Corn is going up, wondering if you have back tested your strategy with historic data, how about seasonal considerations.
2 cent risk? you'll get cashed out lickety split... only long? maybe you are right... check out CN/CZ spreads going negative for the first time in 10 weeks..
No I have not backtested it - I have only been doing this in '08 and understand that it may only work for the current trend. And if you buy at the pivots first support - 2¢ risk is enough - if it drops more than 2¢ below support you are simply wrong on that day - try again the next day. Pull up a chart with pivots and see for yourself. -- very low risk - very high reward -- Please remember this is a "right now" strategy. But please do backtest....
One more thing - don't pay attention to anything anybody tells you. Don't read any newsletters or recommendations. Just play the pivots.
Aaasarrrgh. That be a mighty poor system, matey! All it takes is a change in the wind, and ye profits all turn to driftwood when the price of corn falls.... Aaaarrrrrgh, I be not setting sail on that ship, matey....
Here's what our good friend PP means. This is a copy of the Corn weekly chart, so long as everything is in the green a strategy like this would countinue to work, because all of the traders are expecting support to come in and continue the uptrend. But when the weekly trend changes, you're going to have to reverse the strategy, or else you're going to have your head handed to you. Good trading