Wednesday, October 10, 2007

SOYBEANS - Stopped Out With A Decent Profit

Stopped out of the Long Soybeans trade today at 9.68 even.

Now I realize that the stop was for 9.54 4/8, but here is one of the problems with commodities.
When you have a gap up like we did this morning then you are getting the first available price as with a stop order, the price you place it is not necessarily the price you will get.

There was still a decent profit on all of the positions, but not nearly as good as if we had gotten out at the close yesterday, which I did debate about but did not do.

Anyway, we made money and the stop did what it was supposed to do as the beans look like they want to move higher again.


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