Scale Trading Online - Cotton

I have been scale trading cotton, and this week was  a very good one.  It may have had something to do with the hurricane, but it is very hard to tell what if any influence the news has.

I gave up a long time ago trying to figure out what the news means, about the only news I look at is if I have some orange juice contracts and a hurricane hits Florida, then I probably would hold onto them a couple extra days, or depending on where the price was I might buy a couple additional contracts to hold for a few days.

On 9-6-05 cotton jumped up and hit one of my sell orders.  It trades for $500 per point and I made just under 4 points so I got $1900.00

I have my scale set for 2 points per contract so I should have only made $1000 but I started this scale late and bought some extra contracts with market orders, by getting into the scale late it give me some extra profit on some of the trades.

On 9-7-05 cotton jumped again, and I sold another one this time with a profit of $1825.00

I still have 4 contracts that I bought late with market orders, so if the price continues to go up I will continue selling with the increased profits.

If the price drops I will buy every point down.  At the time I get a fill on my buys I will enter an order to sell that contract at 2 points higher for a $1000 profit, not counting commissions.

September 10, 2005

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