|
PureBytes Links
Trading Reference Links
|
Walter,
Yesterday, the commericials were scale-dwon buyers in the wheat and as the
phrase implies: as the market moved below 260.00 (basis May) the commercials
started to participate on the long side. As the market moved lower, there
was a continued effort from the commercials to "scale-in", and in some cases
actually "dollar cost average" as they would say in the equity markets.
Now, of course, it's a cardinal rule not to average losses in the futures
market.
Oh well, 90% of people lose money trading futures...so, why should one
follow "common knowledge" provide by the industry gurus? Listen to me
instead! I'm leading a charmed life: a national championship in college
basketball (MSU), two superbowls in three years (Broncos), and the Wings and
the Avs trading Stanley Cups (Dallas was a fluke). Lucky in sports, blessed
in love, and making money in futures.
Take care,
Steve Karnish
Cedar Creek Trading
http://www.cedarcreektrading.com
----- Original Message -----
From: Walter Lake <wlake@xxxxxxxxx>
To: Metastock bulletin board <metastock@xxxxxxxxxxxxx>
Sent: Tuesday, April 04, 2000 8:12 AM
Subject: wheat
> Hi Steve and other wheat traders
>
> What does it mean when commercials are reported as being:
>
> scale-up sellers, or
>
> scale-down buyers?
>
> Best regards
>
> Walter
>
>
|