We’ve asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Grain Futures-- The grain market continues its extreme volatility especially in soybeans up another $.40 this Friday right near contract highs at 13.26 a bushel all due to the fact that the crop is not very good despite heavy rains across much of the Midwest yesterday especially in Illinois but production in Iowa is dismal with a worse crop than the 2011 floods and the 2012 drought which is absolutely astonishing in my opinion, and it looks to me that these prices are headed higher. As I’ve stated in previous blogs the trade that is been working is to be long soybeans & short corn and wheat and its working again as the real strength is and soybeans as corn is still going to have a terrific crop and if wheat could talk it would bark that’s how big of a dog this market is only up $.04 today at 6.44 only $.05 away from making new contract lows as the fundamentals in wheat are much different than in soybeans. Corn futures are up $.06 at 4.71 basically going nowhere in recent weeks after Thursday’s debacle down $.19 due to the heavy rains and it looks to me that corn and wheat will remain weak for quite some time as the possibility of soybeans continuing towards the $14 mark looks pretty good and if you look at soybean meal prices they have hit contract highs once again as massive demand for that product continues to prop up prices towards historical highs. Continue reading "Weekly Futures Recap w/Mike Seery"→
One of the biggest mistakes we see with traders and investors is this:
They have no game-plan.
This is one of the most important elements in trading and you should not be trading without one. When you have a game plan, it allows you to get in and out of the market in a non-emotional way. So often we see traders jump into markets based on emotion, investment show ideas, or rumors. This is the worst possible way to trade and the quickest way to lose money.
There’s nothing more important to have than a game plan to enter and exit positions in the markets. By creating a game plan, you are setting yourself up emotionally to handle anything that happens in the market. Having a successful game plan, complete with an exit and money management strategy is enormously important. With the kind of volatility that we are seeing in the markets today, not having a game plan is like financial suicide and that is something that you don’t want to do.
Here are 10 ways to improve your trading in 2010. This is the real "Holy Grail" of trading. I don't know of any successful trader who does not adhere to these rules in their personal or corporate trading.
Enjoy the video and let us know what you think on our blog.
This trading game plan template is very similar to ones I have used in my own personal trading. In this template you can drop in MarketClub's "Trade Triangles" or any of your own favorite indicators. The game plan template provides you with a clear and concise picture of the markets and the major trends.
The download is available by clicking here, or by clicking on the image in this post. I am confident that by using this game plan that your trading and trading results will benefit from this discipline.
All the best, Adam Hewison