January Lean Hogs Futures Long Trade

January Trading Report - Part 2

New position taken in Lean Hogs

Date	Future	Qty	Position	Price	Exit
15-Jan	LHJ14	7	long	91.7	92.9

gross profit before commissions - $480.00 x 7  = $3,360.00

As with the feeder cattle futures and the live cattle futures I took a long play on the basis of a funds push. the volatility in the means market for January and December was not for the faint hearted. However any seasoned trader can always learn the patterns that I hope to teach my readers in the months to come. as you may notice with the chart on the left I only provide the pure raw O-H-L-C charts.

Why? because in 20 years of futures trading i have not come across any scientific basis for proving that the entire spectrum of technical tools from RSI to Fibonacci can actually enhance a traders long run performance. And for the pure novice, who knows not whether to read moving averages or stochastics, the entire internet has become a colossal source of amplified market noise. Do i turn left, do I turn right? Indecision kills. That is why all the charts i will present merely reflect the days numbers, and indeed any seasoned trader can store the numbers in his head and wouldn't even have need for a chart to refer to when trading. How do you think the scalpers and the locals in the pits in Chicago survive? The don't have the time to refer to a chart when the market is surging and everyone's pushing and shoving. yet they survive and they will be there tomorrow and day after, but for many bright eyed traders referring to their arsenal of technical tools, they don't quite make it beyond 2, maybe 3 years at most before a catastrophic loss.

Cut the market noise out of your head and learn to read the number only and listen and smell the market and follow and hone your instincts.

That is how people like I and the locals and scalpers make it thru the decades.

for those who like to get back to basics here is where you can get back to basics -

http://en.wikipedia.org/wiki/Open-high-low-close_chart

Enjoy!