Rolling over of futures position

[alientrade]

Hi guys,
i am new to futures and i have a really basic question about rolling over to the next contract.

lets say i am long March Corn right now from 223. my stop is at 218. and i wanan roll over to the May Contract and the spread between them is currently at 10.50.

do i simply roll over to the May contract by paying the higher price and moving my stop at 218 up another 10.5 to 228.5?
what if the spread narrows/widens? do i adjust my stops accordingly?

thanks for any help, i am kinda confused by this.

 

[Rhody Trader]

Hi guys,
i am new to futures and i have a really basic question about rolling over to the next contract.

lets say i am long March Corn right now from 223. my stop is at 218. and i wanan roll over to the May Contract and the spread between them is currently at 10.50.

do i simply roll over to the May contract by paying the higher price and moving my stop at 218 up another 10.5 to 228.5?
what if the spread narrows/widens? do i adjust my stops accordingly?

thanks for any help, i am kinda confused by this.

That's basically it.

If, though, your stop is based on a chart point on the March chart, I would look to find where the comparable level would be on the May chart.