My soybean chart

[sunzm1977]

Hi,I'm a trader from china,threre is my soybean chart.I'm not a long term trader,but in my sight,the new low is below 550.And you? Now is my sell timing.

PS: My english is not so good

 

[bgold]

Hi,I'm a trader from china,threre is my soybean chart.I'm not a long term trader,but in my sight,the new low is below 550.And you? Now is my sell timing.

PS: My english is not so good

Nearly there.........! I would say short < 590, stop > 620 (for swing traders), initial target < 530'sh

 

[sunzm1977]

Hi,bgold.Sounds good,more safe entry.Do you trade with elliott method only?

 

[bgold]

Hi,bgold.Sounds good,more safe entry.Do you trade with elliott method only?

No, just use it for pattern confirmation.

 

[laytonm]

No, just use it for pattern confirmation.

Hi

Could you help me with a real commodities 101 type question. I'm looking to start trading commodities after having a degree of success swing trading US stocks. I have been paper-trading corn, and some other markets.

My query is about where best to place stop orders when trading daily bars. I see that a bar has started this morning (it's 10-30 BST) and clearly the main trading session does not start until
9-30 Chicago time. Therefore I guess I must be seeing electronic trading prior to the main session. When I use the method which I'm trying on stocks, it's very straightforward - I just place a stop order a few cents above / below the higher or low of the previous day. This seems harder to judge when there's virtually a continuous market. Do most traders use the prices at the end of the main session.

I thought, judging from some of your previous posts, that you might be able to help me with this one. Doesn't seem to be covered in any of the books that I've seen.

Thanks

Mark

 

[minx]

For US commodities its best to only use the Pit traded hours for decision making as the electronic markets can be very thin. You'll need to set your charts to only take regular trading hours into account.

 

[laytonm]

I see. Thanks.

Mark

For US commodities its best to only use the Pit traded hours for decision making as the electronic markets can be very thin. You'll need to set your charts to only take regular trading hours into account.