I have closed the long Canadian Dollar position. It was a good run. It reached my target of 0.8 this week. I have closed it in the performance tab. I will still keep a small long position in this market though.
KC wheat got stopped out.
Soybeans got stopped out. This trade was a huge disappointment. I usually do not trade symmetrical triangles. However, I really thought Soybeans were going to blast off.
Two days ago I had big profits in the grains and looked like a genius. Now, not so much. I was up about 20K in profits and watched it sink to a loss of about 5K. I usually take profits when my target reaches 25% of the way. This allows me to have a ‘risk free’ trade. Essentially, even if I get stopped out, my P/L on the trade will be $0. I got a little greedy. Lesson learned. I am still long December corn. I believe we are still in a grain bull market and these prices are going higher. Unfortunately for me, it does not seem like I can catch these trends.
I was stopped out of the short NASDAQ position over night.
When weeks like this occur I will become more selective in my trades and dial down my positions.