We remain short sugar which remains modestly profitable.
Another move lower and we will have enough room to move the stop to
a risk free break even stop loss.
Cotton remains a very profitable trade so far and we have our stop placed to protect 50% of that profit.
Cotton looks like it is very near another leg lower.
Move your stop along the way once it breaks down again.
So much for our "Best Trade" of the week.
After Mondays large decline that allowed us to move the stop to the risk free break even
point, Copper came right up the following day and stopped us out at no loss.
As you can see, it was a good thing we placed the stop there otherwise we would be in a world of hurt as it made a huge move up today.
Just more proof that it is trading suicide not to use stop loss orders when you trade futures.
Cattle has finally broken out and in a big way.
This has allowed us to move the stop up to a risk free break even trade.
Use any further strength to move your stop up and protect profits.
If you entered the trade when we did, then your break even point is 93.675.