Today is Saturday, September 15th and we are summing up the trading week results.
Dow Jones, 8,590.
Soybean Oil, 324.
Open positions at the current moment are:
Cocoa, long position – 13;
Orange Juice, long position – 4.
Let’s consider last trading week’s deals.
Firstly, here is our map for last week.
Dow Jones (closed position)
The trade was closed last week through target price. We reached target 27178. The total profit of this trade amounted to $8,590.
Copper (closed position)
This is not a very good deal. We entered the position on the pattern of the inside day. We expected an impulse. However, on the same day, the price rewrote the low. The price fell only a few ticks below our stop loss, but this was enough to fix the loss. As mentioned earlier, copper is a very complex instrument for trading. Please note that copper went through the setup only for the third time. It is unlikely that anyone dared to entry into losing trades three times:) Loss is $3,875
Soybean Oil (closed position)
The short position is closed due to the fact that the price was flat for the very long time and did not move in our direction. We also mitigated the risks before the release of the WASDE report on Thursday. The loss amounted to 324.
Positions on cocoa and orange juice still open.
The order was placed in orange juice to close the position at breakeven, as there is no impulse and movement in our direction.
As they said last week (link) soft cultures were strong. Cotton went up, coffee has impulses up. Even with falling oil, soft cultures pulled the CRB up.
They will be interesting to trade next week.
This is all about the results of the trading week.
To sum up the trading week:
Dow Jones Profit $ 8,590
Copper Loss $ 3,875
Soybean Oil Loss $ 324
Total profit $ 4,391
Tomorrow we will plan for the upcoming week and consider new setups.
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