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I am on my 5th Sugar trade this year, -116 net.
+402
-375
+74
-218
-146 current
How far away are you setting your stops? I have left off my stops and
been watching as the day goes on. I put stops in on the first three
and got stopped out when the lunch crowd comes in and the price either
jumps or falls to a ridiculous level and then falls back in line with
the rest of the day. I had 800 bagged on the first one and got
stopped out only to see it all come back the rest of the day and the
next. My last trade was long from 958 and I felt like I was going to
get killed because it was jumping all over the place. Obviously I
missed the jump on Tuesday morning. Still in it for the long haul
though.
On Thu, 02 Apr 1998 23:28:45 -0600, you wrote:
>Russell wrote:
>>
>> I'm just pissed off and on. I have been on the wrong side 4 times in
>> the last month. I seem to be a day late and a whole lotta dollars
>> short. So far I am only down about $200 all together. I missed the
>> jump yesterday or I would have at least been even with that. Let's
>> hope for another jump back up tomorrow.
>>
>> On Thu, 02 Apr 1998 20:41:42 -0500, you wrote:
>>
>> >Well Sugar retreated today to a level that stopped me out at 9.89. I am
>> >now uncertain. A 3 wave rise is evident. The retracement was too deep
>> >for me to see this last wave as impulsive. Any opinions???????
>>
>> Thanks,
>> Russell
>> acgeeks@xxxxxxxxxxx
>> www.bjassociates.com
>If you have been wrong 4 times and lost only 200.00 you must be setting
>your stops awfully tight. I bought 3 contracts on 3/5 paid 9.83, bought
>additional 3 on 3/30 at 9.56. Original stop was set at 9.17 and was
>raised incrementally 10 cents where it now stands at 9.47. If you are
>after a quick profit and in and out I do not believe that sugar is a
>proper commodity. I for one believe that we will have sugar over 10
>cents in the near future and will add to my position averaging down my
>cost if the market goes down in the meantime. Minor support is 9.48-9.31
>(50%-78.6% Ret) Major support 9.42 - 9.03
>John
Thanks,
Russell
acgeeks@xxxxxxxxxxx
www.bjassociates.com
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